Allowing for regulatory approvals and other hurdles, the two firms hope to become a single firm by the end of 2025.
Day: October 11, 2024
IRS processing 400K ERC claims with about $10 billion in eligibility
Commissioner Danny Werfel says the IRS has made “substantial progress” in separating eligible claims from ineligible ones.
FinCEN offers storm and terrorist attack relief for FBAR filings
The Financial Crimes Enforcement Network extended filing deadlines for reports of foreign bank and financial accounts (FBAR) for people in federally declared disaster areas of five storms. It also is delaying the filing deadline for people affected by terrorist attacks in Israel.
Tech news: Center rolls out “Insights for Travel”
Plus, Paystand enhances support for Microsoft Dynamics; and other accounting tech updates.
On the move: Centri hosts Community Collaboration Day
Baker Tilly names chief growth officer; Marcum and KPMG release surveys; and more news from across the profession.
The new drudgery
Once AI handles all the boring and unpleasant tasks for accountants, what boring and unpleasant tasks will replace them?
AI: Solving old drudgery, creating new drudgery
New technology has a habit of fixing old problems but creating new ones in their place, and AI is unlikely to be an exception.
Social Security wage base announced for 2025
The Social Security Administration announced an increased maximum amount of wages subject to Social Security tax in 2025. The cost-of-living adjustment for Social Security benefits for 2024 is slightly lower than last year’s COLA.