Payroll
Kansas Business Owner Pleads Guilty to $2.2 Million Employment Tax Scheme
A Kansas woman pleaded guilty on Sept 1, 2023, to willfully failing to account for and pay over employment taxes to the IRS.
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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Income Tax
IRS Gives Guidance on New Corporate AMT
The guidance also provides general rules for determining a taxpayer's financial statement income and AFSI.
Taxes
TaxDome Unveils IRS Integration for Streamlined Transcript Retrieval
This update allows TaxDome users to swiftly access IRS transcripts directly from their workspace, eliminating the need to navigate the IRS website.
Benefits
Small Business Owners Worried About Access to Financing
Some business leaders are worried that higher capital requirements will lead to reduced lending and credit access for households and consumers.
Small Business
Commercial Insurance Rates Increased at 6 Percent Pace in Q2 2023
The coverage area with the greatest price increase was commercial property, which showed another quarter of double-digit increase.
Small Business
Retail Economist Sees Economy Expanding, But with Slower Momentum
The Bureau of Economic Analysis now estimates that gross domestic product grew at a 2.1% annual rate adjusted for inflation in the second quarter.
Advisory
CPA.com and Good.Lab Partner to Help Accounting Firms Provide ESG Advisory Services
CPA.com is spearheading efforts to support firms with strategy and business model design around ESG.
Accounting
Deloitte and Bitwave Partner for Digital Asset Accounting and Compliance
Alliance brings together Bitwave's software platform with Deloitte's accounting, tax and governance, risk and controls advisory services.
Accounting
Businesses Focus on Automation to Achieve SOX Compliance
Organizations need to focus on areas including data governance, change management and upskilling when pursuing these new technologies.
Accounting
Top Pension Funds Saw Largest Fall in Assets in 20 Years
By the end of 2022, combined assets of the world’s top 300 pension funds had decreased by 12.9% and now total $20.6 trillion compared with $23.6 trillion at the end of 2021.
Accounting
TaxBit Announces AI Enabled Rules Engine for Crypto Accounting
Users can now create an automated data flow, so reconciled transactions appear in the correct locations in a business's chart of accounts.
Accounting
Students Sought for Accounting Internship Preparation Program
Program highlights include motivational keynotes, resume advice, interview coaching, and opportunities to network with other diverse accounting students and professionals.