Accounting and tax articles, news, products, podcasts, and videos from CPA Practice Advisor
Top News
Accounting April 21, 2025
South Carolina Senate Votes to Oust State Treasurer Curtis Loftis Over $1.8B Accounting Error
The state Senate voted April 21 to oust South Carolina Treasurer Curtis Loftis over a yearslong accounting error, leaving the statewide official a vote by the House away from being removed from office for willful neglect of duty.
Firm Management April 21, 2025
Baker Tilly/Moss Adams Union is Happening
The megamerger between the two top 15 accounting firms, which was announced April 21, would likely put Baker Tilly into the top six firms in the U.S. by revenue. The deal is expected to close in early June.
Taxes April 21, 2025
Harvard is Taking the Trump Administration to Court
After the feds froze more than $2 billion in grants to the Cambridge campus and threatened its tax-exempt status, Harvard University has filed a lawsuit against the Trump administration in Massachusetts federal court.
Payroll April 21, 2025
7 Strategies to Build Wealth in Your 30s
Here are seven tips for saving and investing in your 30s and taking advantage of perhaps your highest-earning years to date.
Payroll April 21, 2025
Want to Take Home $100K After Taxes? Here’s How Much You Need to Earn
A study by GoBankingRates found that nationally the average person needed to earn $130,000 to take home $100,000 after factoring in federal and state income taxes.
Payroll April 21, 2025
Homebuyers Need Income of Nearly $117,000 to Afford Typical U.S. Home, Study Finds
The most difficult U.S. housing market in decades continues to encumber prospective homebuyers, who need an annual household income of $116,986 to afford the typical home, according to Bankrate’s new 2025 Housing Affordability Study.
Accounting April 21, 2025
Bonadio Study Shows Cautious Optimism on State and Local Govts in New York
The study was designed to assist New York State (NYS) government entities in evaluating their position on key issues and addressing various challenges.
IRS April 19, 2025
Bessent Replaces Acting IRS Commissioner in Musk Power Struggle
Treasury Secretary Scott Bessent appointed his deputy, Michael Faulkender, as the next acting chief of the IRS after reports the current leader of the agency, Gary Shapley, had been installed at the urging of Elon Musk without Bessent’s knowledge.
Tax News
Taxes April 21, 2025
Harvard is Taking the Trump Administration to Court
After the feds froze more than $2 billion in grants to the Cambridge campus and threatened its tax-exempt status, Harvard University has filed a lawsuit against the Trump administration in Massachusetts federal court.
Payroll April 21, 2025
Want to Take Home $100K After Taxes? Here’s How Much You Need to Earn
A study by GoBankingRates found that nationally the average person needed to earn $130,000 to take home $100,000 after factoring in federal and state income taxes.
IRS April 19, 2025
Bessent Replaces Acting IRS Commissioner in Musk Power Struggle
Treasury Secretary Scott Bessent appointed his deputy, Michael Faulkender, as the next acting chief of the IRS after reports the current leader of the agency, Gary Shapley, had been installed at the urging of Elon Musk without Bessent’s knowledge.
IRS April 18, 2025
IRS DRP 2.0 Contract Language: Would You Sign It?
Many IRS employees, who didn't take the first deferred resignation offer earlier this year, jumped at the chance to take the buyout this time around, while others have decided to ride it out, hoping they will be spared from the reduction in force plans at the tax agency.
IRS April 18, 2025
IRS Workers Whose Roles Are ‘Deemed Critical’ Get Rejected For DRP 2.0
The IRS is telling some employees who have requested to take the latest deferred resignation offer from the Department of the Treasury that they're ineligible because their positions within the tax agency are "deemed critical."
Taxes April 18, 2025
Maryland Lawmakers Consider Taxing Services and Intellectual Property
Maryland needs more tax revenue. Taxing business services and/or intellectual property and media rights could help the Old Line State fill a looming $3 billion budget gap.
Taxes April 18, 2025
The Tax Law Roundup – April 2025
The Tax Law Roundup is a collection of recent sales, VAT and other transactional and business operations tax news compiled and shared with us by the transaction and business tax experts at Avalara.
Advisory April 18, 2025
After the Deadline: How CPAs Can Use Child Care Tax Credits to Deliver Year-Round Value to Business Clients
The Employer-Provided Child Care Credit (IRC §45F). It allows employers to claim up to $150,000 in annual federal tax credits for supporting Child Care.
Accounting News
Accounting April 21, 2025
South Carolina Senate Votes to Oust State Treasurer Curtis Loftis Over $1.8B Accounting Error
The state Senate voted April 21 to oust South Carolina Treasurer Curtis Loftis over a yearslong accounting error, leaving the statewide official a vote by the House away from being removed from office for willful neglect of duty.
Firm Management April 21, 2025
Baker Tilly/Moss Adams Union is Happening
The megamerger between the two top 15 accounting firms, which was announced April 21, would likely put Baker Tilly into the top six firms in the U.S. by revenue. The deal is expected to close in early June.
Accounting April 21, 2025
Bonadio Study Shows Cautious Optimism on State and Local Govts in New York
The study was designed to assist New York State (NYS) government entities in evaluating their position on key issues and addressing various challenges.
Accounting April 18, 2025
Indiana Becomes Latest State to Reform CPA Licensure Rules
Governor Michael Braun (R) signed HEA 1143 into law on April 16, 2025, making Indiana one of the first 10 states to adopt an additional pathway to CPA licensure.
Small Business April 18, 2025
Lili Partners with eCommerce Platforms to Offer Tailored Banking and Accounting Solutions for Online Businesses
This integration provides instant access to store earnings, automated bookkeeping and tax management, and efficient international payment solutions, streamlining financial operations for growing businesses.
Accounting May 19, 2025 Sponsored
May 19 CPE Webcast: Emerging Technology for an Efficient Audit
Emerging technologies are rapidly changing auditing. From enhanced accuracy to streamlined workflows, these innovations are transforming the way CPAs and auditors work. But how can you harness the potential of these tools to stay ahead of the curve?
Accounting April 17, 2025
Accounting Class Actions Up a Skosh in 2024
For the third consecutive year, there was an increase—albeit a small one—in the number of accounting-related securities class action filings in 2024, according to a new report from Cornerstone Research.
Accounting April 17, 2025
FASB Not-for-Profit Advisory Committee Meeting Recap
The FASB Not-for-Profit (NFP) Advisory Committee (the Committee) held its semiannual meeting on Thursday, March 20, 2025. The topics discussed included the following.
Payroll News
Payroll April 21, 2025
7 Strategies to Build Wealth in Your 30s
Here are seven tips for saving and investing in your 30s and taking advantage of perhaps your highest-earning years to date.
Payroll April 21, 2025
Want to Take Home $100K After Taxes? Here’s How Much You Need to Earn
A study by GoBankingRates found that nationally the average person needed to earn $130,000 to take home $100,000 after factoring in federal and state income taxes.
Payroll April 21, 2025
Homebuyers Need Income of Nearly $117,000 to Afford Typical U.S. Home, Study Finds
The most difficult U.S. housing market in decades continues to encumber prospective homebuyers, who need an annual household income of $116,986 to afford the typical home, according to Bankrate’s new 2025 Housing Affordability Study.
Payroll April 18, 2025
Social Security Administration Implements New Anti-Fraud Measures it Says Will Enhance Telephone Claim Processing
The agency says these steps will further modernize the agency’s services and strengthen program integrity
Payroll April 16, 2025
Bay Area Gen-Z Entrepreneur Uses AI to Help Job Seekers
Since its launch, Simplify has processed over 30 million job applications, saving users thousands of hours and significantly increasing their chances of landing offers.
Payroll April 15, 2025
Two-Thirds of Gen Z Feels Unprepared for Financial Future, Generational Wealth Transfer
As Baby Boomers are poised to pass down an estimated $84 trillion to younger generations by 2045, the data suggests younger generations aren’t equipped to handle it just yet.
Small Business April 15, 2025
Branch Launches New Paycard Built for the Modern Workforce
Delivered through the award-winning Branch App and Card, the new paycard offering was developed in response to growing demand across industries including hospitality, healthcare, staffing, and construction...
Payroll April 14, 2025
Top 5 Challenges Facing Entry-Level Professionals
In a survey of nearly 1,000 U.S. employees conducted by Robert Half, respondents revealed some common challenges they encountered early in their careers.
Technology News
Accounting May 19, 2025 Sponsored
May 19 CPE Webcast: Emerging Technology for an Efficient Audit
Emerging technologies are rapidly changing auditing. From enhanced accuracy to streamlined workflows, these innovations are transforming the way CPAs and auditors work. But how can you harness the potential of these tools to stay ahead of the curve?
Firm Management April 18, 2025
Review and Interview with SafeSend – The Accounting Technology Lab Podcast – April 2025
In this video and podcast, Randy Johnston and Brian Tankersley, CPA, discuss Thomson Reuters SafeSend. Watch the video, listen to the audio podcast below, or read the transcript.
Firm Management April 17, 2025
Experiences 2025 – Agentic AI – Part 2 Implementation
Agentic AI is poised to significantly impact Public Accounting. Firms must adopt the right tools, governance strategies, and implementation approaches to successfully integrate Agentic AI into public accounting.
Technology April 17, 2025
Quadient Recognized in Analyst Report on Top AI Use Cases for Finance Automation
Manual AR, AP and invoice processes lead to inefficiencies, compliance risks, payment delays and increased vulnerability to fraud.
Taxes April 16, 2025
IRS Direct File Likely to Be Shut Down After This Year
The Trump administration is reportedly planning to pull the plug on IRS Direct File, the free online service that allows many taxpayers to file their tax returns directly with the agency.
Accounting April 16, 2025
Sage and Wipfli Team Up for New Tech Innovations for Healthcare
Sage Intacct Clinical eProcurement and Sage Intacct EMRConnect were developed in partnership with Wipfli and are designed to address the unique needs of healthcare finance leaders.
Technology April 16, 2025
AI Data Centers Could Spike Power Bills for Consumers
In many places, a sharp uptick in power demand has been driven by data centers, the industrial buildings that house huge banks of computer servers and support our increasingly digital society.
Accounting April 15, 2025
Auditors Once Feared AI Would Take Their Jobs, Now They Need it to Save the Profession
The widespread growth of GenAI-powered tools for audit firms has made it possible to scale quickly. For firms that have not yet committed to adapting, however, the performance gap with firms that have will soon start to reveal itself.
Firm Management News
Firm Management April 21, 2025
Baker Tilly/Moss Adams Union is Happening
The megamerger between the two top 15 accounting firms, which was announced April 21, would likely put Baker Tilly into the top six firms in the U.S. by revenue. The deal is expected to close in early June.
Accounting April 18, 2025
Indiana Becomes Latest State to Reform CPA Licensure Rules
Governor Michael Braun (R) signed HEA 1143 into law on April 16, 2025, making Indiana one of the first 10 states to adopt an additional pathway to CPA licensure.
Accounting May 19, 2025 Sponsored
May 19 CPE Webcast: Emerging Technology for an Efficient Audit
Emerging technologies are rapidly changing auditing. From enhanced accuracy to streamlined workflows, these innovations are transforming the way CPAs and auditors work. But how can you harness the potential of these tools to stay ahead of the curve?
Firm Management April 18, 2025
Review and Interview with SafeSend – The Accounting Technology Lab Podcast – April 2025
In this video and podcast, Randy Johnston and Brian Tankersley, CPA, discuss Thomson Reuters SafeSend. Watch the video, listen to the audio podcast below, or read the transcript.
Firm Management April 17, 2025
Experiences 2025 – Agentic AI – Part 2 Implementation
Agentic AI is poised to significantly impact Public Accounting. Firms must adopt the right tools, governance strategies, and implementation approaches to successfully integrate Agentic AI into public accounting.
Accounting April 17, 2025
Here Are the 50 Most Prestigious Accounting Firms, According to Vault
A new ranking for 2026 from career website Vault.com is now out to remind accountants and soon-to-be accountants in college about which public accounting firms are considered the most prestigious in the U.S.
Firm Management April 16, 2025
Third Annual State of Accounting Workflow and Automation Report Released
The 2025 report provides a detailed analysis of the most significant workflow challenges that emerged in 2024, emphasizing the ongoing issues with workflow inefficiencies.
Accounting April 16, 2025
Survey of Massachusetts CPAs Reveals Outmigration, Workforce Strains and Urgent Need for Tax Reform
The report analyzes insights from nearly 200 CPAs representing approximately 4,600 high-income clients and dozens of in-state business leaders, offering a critical pulse on the tax, workforce and business trends.
Webinars
May 19, 2025
May 19 CPE Webcast: Emerging Technology for an Efficient Audit
Emerging technologies are rapidly changing auditing. From enhanced accuracy to streamlined workflows, these innovations are transforming the way CPAs and auditors work. But how can you harness the potential of these tools to stay ahead of the curve?
March 19, 2025
LeaseCrunch to Host Webinar on Financial Due Diligence in M&A
The webcast will share practical strategies for streamlining financial due diligence workflows, especially through automation.
March 26, 2025
Archived Webcast: Helping Clients Set Up Their Remote Employees
Many businesses have team members across state lines, and you may have clients with remote employees in other states. Payroll can get confusing and tricky in these situations.
February 26, 2025
Archived Webcast: S Corporation Election Considerations for Corporations and LLCs
S Corporation elections are popular among Corporation and LLC owners due to various advantages. With the election deadline approaching in March, it is a great time to get refreshed on this popular election to help advise your clients.