For financial advisors, tax professionals and their clients, the opportunities and acronyms look endless. Three experts explain the key questions to consider.
Day: July 11, 2024
IRS collects $1B from millionaires
The agency is hoping to counter a widespread impression that people can get away without paying their taxes, according to Commissioner Werfel.
IAASB offers guidance on auditing less complex entities
The International Auditing and Assurance Standards Board issued new advice for auditing smaller companies.
Insightsoftware buys LeaseAccelerator
The lease accounting solutions provider is the company’s third acquisition this year.
Choosing the scheduled tax season
After my last column about spreading out the tax season, several readers contacted me to share their experiences about making busy season more sane.
CFO optimism reaches highest level in 3 years, new survey shows
Grant Thornton’s Q2 2024 CFO survey found that 58% of CFOs are optimistic about the U.S. economy — the highest level of optimism since the third quarter of 2021. Plus, a rising percentage of CFOs expect profits to grow in the next 12 months.
IRS collects $1 billion from high-income people who owed back taxes
The IRS is collecting on tax liabilities that were not “even in dispute,” Commissioner Danny Werfel said, but the IRS did not previously have the resources to pursue payment.