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Annual Federal Tax Update This article is the first part in a series: A curated list of updates to prepare you for tax season 2023 As digital assets continue to gain prominence, the IRS has provided guidance to clarify the reporting and requirements for taxation of...

Artificial Intelligence (AI) has revolutionized various industries, and accounting is no exception. AI in accounting streamlines and enhances financial processes, offering a level of accuracy and efficiency previously unimaginable. Developers can train AI systems and...

The Internal Revenue Service (IRS) has announced the annual inflation adjustments for over 60 tax provisions for the tax year 2024. Notable changes include the reinstatement of the Hazardous Substance Superfund financing rate for crude oil and petroleum products...

In a recent podcast interview with the Journal of Accountancy, Mfon Akpan and Scott Dell, both educators and experts in the field of accounting, delved into the significance of CPAs (Certified Public Accountants) and other professionals understanding generative AI,...

In the ever-evolving landscape of finance and taxation, accountants, tax preparers, and CPAs face a constant challenge: staying up-to-date with the latest tax codes, providing exceptional client service, and reducing the risk of errors in tax preparation. Furthermore,...

Lately, we've been hearing a lot about AI and robots potentially replacing humans at work. While most of the discussion revolves around how AI affects employment, there hasn't been much research. Creating and using these technologies can affect the quality of jobs,...

The IRS has introduced a special withdrawal process to protect small businesses and organizations from scams related to Employee Retention Credit (ERC) claims. This new option allows certain employers to withdraw their ERC claims if they haven't received a refund yet...

Artificial Intelligence (AI) has been transforming industries across the board, and accounting is no exception. The integration of AI into accounting processes is reshaping the way financial professionals manage data, make decisions, and ensure compliance. The current...

The world of accounting is evolving at an unprecedented pace, with complex tax codes, regulatory changes, growing client expectations, and accounting professionals leaving the industry in droves. In this rapidly changing landscape, tax preparers and CPAs must adapt...

In a world where technology seems to be advancing faster than we can update our smartphones, it's no surprise that even the world of finance and taxation is being touched by the digital revolution. Picture this: you sit down to do your taxes, but instead of sifting...