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Isaac M. O'Bannon

Managing Editor

isaac.obannon@cpapracticeadvisor.com

Isaac M. O'Bannon is the managing editor and digital content manager for CPA Practice Advisor (www.CPAPracticeAdvisor.com), drawing on two decades of experience covering the areas of professional accounting, taxation, business productivity and consumer technologies. Prior to CPA Practice Advisor, O'Bannon was a consultant at firms in San Francisco, Denver and Tulsa, serving clients that included Logitech, Polycom, Hilti, Microsoft, the Stanford Research Institute, the University of Oklahoma's College of Engineering and other technology leaders. He is a U.S. Navy veteran. Email: isaac.obannon - @ - cpapracticeadvisor.com

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Firm Management

PwC Survey Shows Business Leaders Overestimate Preparedness for Disruption

The top five reported disruptions include: the global Covid-19 pandemic, employee retention and recruitment, supply chain, technology disruption or failure, and cyber attack.

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Taxes

National Taxpayer Advocate Finds Hope in IRS Plan

She also shares hope that with long-term funding and prudent management, there is light at the end of the tunnel for taxpayers and practitioners who have experienced problems.

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Taxes

IRS 10-Year Strategic Operating Plan Includes Major Changes and Goals: Improved Service, Digital Transformation

As the IRS begins implementation of this plan, the agency will work with the public, partners and oversight groups to ensure the transformation work meets the needs of taxpayers and the nation.

Accounting

AICPA Sends Recommendations for Clarification and Expansion of Certain Provisions of Rev Proc. 2022-19

“Revenue Procedure 2022-19 provided much needed guidance and relief for S corporations which inadvertently terminate their S election,” said Jon Williamson, Senior Manager – AICPA.

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Payroll

New York State Society of CPAs Launches “Smart Money Habits” Financial Literacy Initiative

The newly created initiative is meant to educate and empower the public regarding vital aspects of financial literacy.

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Firm Management

Progress of Women in Leadership is Stalling

Grant Thornton’s latest research reveals it has been slow, increasing only half a percentage point to 32.4% in the past year, and only 13% since the research was first undertaken in 2003.

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Payroll

There's a Gender Gap in Home Buying, Too

In 2016, 19.4% of young single women owned a home, compared with 29.6% of young single men — a gap of 10.1 percentage points.

Small Business

Small Business Jobs and Wages Saw Modest Increase in March

The March report also showed average hourly earnings increased slightly from the previous month to 4.64 percent.

Payroll

Americans Forecast to Spend $24 Billion on Easter in 2023

Eighty-one percent of Americans will celebrate the holiday and spend an average of $192.01, the highest figure on record.

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Accounting

AuditDashboard Successfully Completes 7th SOC 2 Type 2 Audit

The independent attestation affirms AuditDashboard’s information security practices, policies, procedures, and operations meet the rigorous System and Organization Controls (SOC) standards ...

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Taxes

Arkansas and Mississippi Storm Victims Get Tax Deadline Extension to July 31

This means eligible taxpayers will have until July 31 to file and pay tax returns, as well as to make 2022 contributions to their IRAs and health savings accounts.

Small Business

2023 Retail Sales Forecast to Grow 4% to 6%

The National Retail Federation has issued its annual forecast, anticipating that retail sales will grow between 4% and 6% in 2023.