Accounting
Latest News
Report Says Undocumented Immigrants in U.S. Pay Nearly $100 Billion in Taxes
Emburse and Finexio Partner for B2B Payments
How Generative AI Will Disrupt Accounting
Mid-Market Optimism Hits Pre-Covid Record Highs
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Retail Imports Forecast to be Lowest in 3 Years
"Retailers are being cautious as they wait to see how the economy responds to efforts to bring inflation under control.”
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Retail Sales Increased in January
The U.S. Census Bureau reported that overall retail sales in January were up 3% from December and up 6.4% year over year. In December, sales were down 1.1% month over month but up 5.9% year over year.
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Changes Coming to IRS Compliance Assurance Process Program
The CAP program began in 2005 as a way to resolve tax issues through open, cooperative and transparent interactions between the IRS and taxpayers before the filing of a return.
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IRS Announces Interest Rates for Q2 2023
Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.
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The Technology Lab Podcast – Review of Validis – Feb. 2023
Technologists Randy and Brian evaluate Valadis, a tool that extracts data from all financial systems to automatically generate full sets of standardized working papers. This data can then be imported into working paper systems.
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The Top Challenges Faced by Corporate Tax Pros
According to the new survey, three-quarters of tax departments report experiencing difficulties in recruiting and retaining talented tax professionals.
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CES Update 2023: Your Firm and Your Tech Opportunities
I believe one or more products from each category will be helpful to you. While CES produces its Innovation Awards that you can review, the items below will be more beneficial to the practice of accounting or your clients.
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The Impact of AI on the Accounting Profession
In late 2022, a new AI tool, called ChatGPT, exploded into the marketplace. Since then, it’s been mentioned in hundreds of online articles, in chatrooms, and in the media.