A survey finds that high-performing workers often balk at being forced back into the office, giving companies plenty to consider before mandating a return.
NEWS
7 warning signs that an ERC claim is questionable, from the IRS
As the March 22 deadline for the ERC voluntary disclosure program approaches, the IRS alerted small businesses to seven red flags that it is focusing on when it reviews claims.
EFIN scam targets tax professionals
The IRS warns that the scammers want to gain access to data and identities so they can file fraudulent tax returns.
Form 1099-K frequently asked questions revised
Almost 50 new or updated frequently asked questions for the IRS’s Form 1099-K, Payment Card and Third Party Network Transactions, published Tuesday, include guidance on common situations, along with more clarity for the payment card industry about which organizations should send Forms 1099-K.
Privacy and profits: How responsible data protection can drive revenue
Many companies report a solid return on investment from their actions to protect and promote privacy, but a few simple steps could boost both profitability and security.
Study: IRS could collect billions more with full funding
A study shows that the Service can collect $561 billion in tax revenue over 10 years if it receives the funding from the Inflation Reduction Act of 2022 as written.
Auto depreciation limitations increase
The IRS issued the 2024 depreciation limitations for passenger automobiles, including those for which bonus depreciation is applied.
AICPA member insurer clarifies coverage for BOI work by accountants
CNA, which has policies with 25,000 AICPA member accounting firms, said in a statement last week that its professional liability policies generally will cover work services associated with the Corporate Transparency Act, which includes rules for BOI reporting.
House OKs $78B tax bill with changes to ERC and child tax credits
The bill, which now goes to the Senate, also delays amortization of research or experimental costs and restores tax breaks for companies from 2017’s Tax Cuts and Jobs Act.
7 reasons for deficiencies in audits of broker-dealer annual reports
A PCAOB spotlight report recommends actions that auditors and firms can take to produce compliant attestation engagements.
Finance leaders have trust issues with their data
Almost 40% of CFOs in a global survey do not completely trust the accuracy of their organization’s financial data, and trust is even lower for finance leaders who are closer to the numbers.
Flexibility at work: More companies move away from in-office model
The percentage of U.S. companies requiring employees to work fully in offices has dropped by nearly 25% since the beginning of 2023, with a hybrid model continuing to take hold.
The importance of a pre-marriage ‘money date’
A conversation before marriage about the state of each partner’s finances and their thoughts about money can have long-term benefits for the couple’s financial goals and relationship.
Don’t wait on action on tax bill to file returns, IRS tells taxpayers
With tax season opened as of Monday, Commissioner Danny Werfel said the IRS will handle any necessary changes if a bill passes after returns are filed.
IRS to hold ERC education sessions for tax pros in February
The sessions, which will be hosted by IRS Criminal investigation special agents at locations nationwide, are aimed at tax professionals who claimed ERCs for clients on previous years’ tax returns.
Digital asset question added to more forms for 2023 tax returns
IRS adds a question about digital assets to forms covering partnerships, corporations, S corporations, and estates and trusts.
BOI reporting and unauthorized disclosure penalties increased
The beneficial ownership information rules and the penalties for violating them just went into effect last month. Now the penalties have increased.
What top accounting academics suggest to attract talent
With enrollment in accounting programs on the decline, three academic leaders offer suggestions for improvement.
From CFO to CEO: An increasingly popular path
The percentage of open CEO seats filled by CFOs at large companies rose to a record level in 2023, as did the percentage of women and racially and ethnically diverse leaders.
Simpler IRS notices are coming
The IRS’s new Simple Notice Initiative follows a pilot that demonstrated how redesigned notices can improve taxpayer experience while reducing call volume.
Features
FROM THIS MONTH'S ISSUE
Data governance: How finance builds trust in data
Learn how finance can use data governance to improve data quality, strengthen internal controls, and build trust in business data.
