Featured News
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Building partnerships to support your practice
The traditional “affiliate” partnerships between accountants and technology providers are exponentially increasing with the rise of new and improved applications.
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IRS issues 5-year strategic plan to improve service
The IRS has released a five-year strategic plan that outlines its goals to improve taxpayer service and tax administration.
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FBI: Fake crypto apps defrauded investors of more than $42M
The FBI recently issued a warning to consumers about fraudulent cryptocurrency applications that have scammed hundreds of victims out of an estimated $42.7 million since October 2021.
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Salaries could rise an average 4.1% in 2023, report finds
A recent survey reveals fewer employers expect broad attraction and retention challenges next year as they continue to focus on salary and employee experience.
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FASB proposes changes to transition requirements in insurance guidance
FASB has proposed an ASU that would amend transition guidance for long-term insurance contracts derecognized because of a sale or disposal of an individual or a group of contracts or legal entities before the effective date.
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IRS return preparer visits could resume by video, GAO says
A new report from the GAO recommends that the IRS test the feasibility of holding videoconference visits with “high risk” tax preparers to replace in-person visits.
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Free IRS/FTC webinar to focus on scams, ID theft, IP PINs
The IRS and the Federal Trade Commission will sponsor a webinar on July 20 to help taxpayers and tax professionals recognize and combat tax scams and tax-related identity theft.
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AICPA recommends more IRS backlog measures
The IRS should do more to ensure taxpayers, practitioners and the agency itself aren’t plagued in 2023 by now-chronic delays, the AICPA said in a letter to IRS and Treasury officials.
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Small business hiring, wages continue growth
Small businesses continued to add jobs in June 2022 and worker wages continued to grow at a strong rate, but the pace of growth moderated slightly from the previous month.
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Estates can now request late portability election relief for 5 years
A new revenue procedure from the IRS allows estates to elect "portability" of a deceased spousal unused exclusion amount as much as five years after the decedent's date of death.