In 2023, 125 violation cases of unauthorized access of tax return data were reported, the highest since 2018 —but instances of disclosure violations remains low.
Category: NYT Accounting News
In the blogs: They’re off
A useful AMT; refunds of the dead; core-satellite portfolios; and other highlights from our favorite tax bloggers.
North Carolina joins IRS Direct File
The Treasury Department and the Internal Revenue Service announced that North Carolina will be the latest state to join the IRS Direct File free tax program in filing season 2025.
Baby season vs. busy season
Accountants are planning their pregnancies to avoid having children during tax and audit busy seasons — and they’re not happy about it.
Tax deadline next year looms large as Democrats rally in Chicago
Vice President Kamala Harris and former President Donald Trump have laid out widely divergent plans for handling the sunset date for many parts of the TCJA.
PCAOB ramps up enforcement against auditors
The board brought 34 actions against 45 respondents and imposed a record $35 million in penalties in the first half of 2024.
Synapse crisis shows ledgers are key
Many cutting-edge fintech companies, such as now-bankrupt Synapse, lack essential infrastructure to effectively reconcile transactions, track funds, and maintain visibility into ledgers.
Staats: Using AI starts with curiosity
YouTuber, podcaster and advisor Jason Staats discussed the practical issues in AI implementation for accountants during Xerocon this week.
How can CFOs build resilience while facing down challenges?
As businesses navigate turbulent economic waters, CFOs face mounting challenges in their mission to manage costs, optimize resources and maintain financial resilience.
A focus on wellbeing can be a differentiator for clients and staff
Speakers at Xero’s annual conference this week urged accountants to think more deeply about promoting mental health and wellbeing for both clients and staff.