Over-reliance on artificial intelligence carries concerns that cannot be overlooked. Technology can’t replace critical thinking and professional skepticism.
Category: NYT Accounting News
Macy’s touted a metric that had been juiced for years
The retailer said the incident involved only one former employee, who had hidden as much as $154 million of delivery expenses since 2021.
IRS funding and preparer oversight are top issues for IRSAC
The IRS Advisory Council’s annual report covered 37 different areas of concern and recommendations.
Trump tax policy 2.0: 11 proposed changes and impacts
What does the 2024 Trump tax plan mean for you and your clients this time around?
PCAOB offers guidance on quality control standard
The Public Company Accounting Oversight Board introduced two pieces of guidance to help auditing firms apply its new quality control standard.
In the blogs: You will survive
Saving Social Security; sued over an address; more 5471 opinions; and other highlights from our favorite tax bloggers.
IRS phases in Form 1099-K threshold at $2,500 in 2025
The Internal Revenue Service extended its transition relief for the new Form 1099-K information reporting threshold.
Generative AI will upgrade you, not replace you: KPMG
KPMG research has found gen AI has a 3-17% EBITDA impact, but this is no reason to replace human accountants.
IRS plans National Tax Security Awareness Week
The Internal Revenue Service and its partners in the public and private sectors are planning to highlight the importance of cybersecurity next week.
IRS extends R&D tax credit transition period
The Internal Revenue Service is extending the transition period for revising claims for the research and development tax credit through Jan. 10, 2026.