In her midyear report to Congress, National Taxpayer Advocate Erin Collins writes that, as of April, the IRS was taking over 22 months to resolve cases in its identity theft victim assistance unit, which had about 500,000 unresolved cases.
Day: June 26, 2024
IRS looks to settle with some conservation easement participants
Some participants will get a letter next month outlining a potential settlement offer.
FASB to propose simplified guidance on software costs
The FASB voted to propose a new ASU that would, among other things, remove the distinction between linear and nonlinear development methods.
5 ways to support LGBTQ+ employees
Organizations are encouraged to foster an inclusive work environment and create a culture of safety and belonging.
IRS advisory group recommends regulating tax preparers
An influential advisory committee to the Internal Revenue Service is asking Congress to regulate noncredentialed tax preparers and boost funding for the IRS and the National Taxpayer Advocate.
98% of accountants have used AI, mostly for data entry and processing
Pretty much every accountant has used AI in one form or another, with the most common use case being data entry and processing, according to a poll from Intuit QuickBooks.
Talent scarcity puts renewed focus on AI
The arrival of artificial intelligence represents the biggest opportunity to modernize the profession since the advent of the spreadsheet.