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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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Payroll

Home Sales Dip Slightly, As Median Value Hits Record High of $419,300

Existing-home sales slightly declined in May as the median sales price climbed to a record high, according to the National Association of Realtors.

Failure to Keep Pace with Technology is Biggest Risk for Accounting Pros

95% agree that a willingness to learn and adopt new technologies is just as important to their success as traditional accounting skills.

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Accounting

Bloomberg Tax & Accounting Enhances Fixed Asset System

This new feature allows customers to leverage self-service automation to prepare, cleanse, and transform data from complex enterprise resource planning data directly into the Bloomberg Tax Fixed Assets system.

Accounting

SAX Launches New E-Learning Platform for CPAs

Top 100 accounting, tax, and advisory firm SAX LLP has launched a new talent development initiative, leveraging the adaptive e-learning platform, Amplifire.

Accounting Standards

NetSuite Launches New Solution for HIPAA Compliance for Healthcare Entities

NetSuite SuiteSuccess Healthcare Edition is an industry-specific pre-configured solution with pre-defined role-based dashboards, reports, KPIs, and workflows.

Taxes

Majority of Outstanding High-Risk ERC Claims Expected to Be Rejected

The review involved months of digitizing information and analyzing data since last September to assess a group of more than 1 million Employee Retention Credit (ERC) claims representing more than $86 billion filed amid aggressive marketing last year.

Taxes

Florida Fisherman Pleads Guilty to Evading $400K in Taxes

He is scheduled to be sentenced on Sept. 17 and faces a maximum sentence of five years in prison, a period of supervised release, restitution and monetary penalties.

Taxes

IRS Offers Guidance on Exceptions to Tax on Early Emergency Retirement Distributions

A taxpayer is permitted to receive a distribution from an applicable eligible retirement plan to meet unforeseeable or immediate financial needs relating to necessary personal or family emergency expenses.

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Taxes

New Draft Form of Form 6765 Released: Credit for Increasing Research Activities

Section G, which was labeled “Section F” in the version of the form that IRS shared last fall, requests the Business Component Detail.

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Payroll

Patriot Software Names Kyle Dreger as New CEO

Patriot Software’s founder and former CEO, Mike Kappel has introduced that Kyle Dreger is the new CEO of Patriot Software, effective immediately.

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Accounting

Corpay Opens Office in New Zealand

This expansion reinforces the company’s leading position in the payment industry and strengthens its presence in the Asia-Pacific region.

Small Business

SmartVault Acquires SmartPath Intelligent Pricing Platform

SmartPath empowers firms to accurately present their value to clients by providing a solution to increase margins and client satisfaction.