Auditing and Tax - Financial Ops World

EIN red flags trigger tax audits

Accounting Today

SEPTEMBER 5, 2023

As an auditing professional, it's vital that you detect any discrepancies in business tax reports and either try to rectify them or report them to the IRS.

Auditing

Auditing Tax

State sales tax changes could mean more audits

Accounting Today

JANUARY 24, 2024

Businesses are likely to see more sales tax audits in 2024 as a result of changes happening across the states, according to a new report.

Auditing

Auditing Tax

IRS tax audits may show unintended racial, ethnic bias

Accounting Today

MAY 23, 2024

The Internal Revenue Service doesn't collect data on taxpayers' race or ethnicity, but some of its methods could lead to disparities in its audit rate.

Auditing

Auditing Collections Tax

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Art of Accounting: Perception vs. reality for tax audit fees

Accounting Today

JANUARY 13, 2025

Delivering an invoice for any service, including a tax audit, is a marketing activity, and it cannot be assumed that the client understands the value.

Auditing

Auditing Tax Invoicing Accounting

Enhancing equity in tax audits

Accounting Today

JULY 9, 2024

While the IRS and the Treasury have committed to tax administration equity, the Government Accountability Office recently found potential unintended biases in some of the systems and methods used by the IRS for audit selection — meaning some populations may be getting selected for audits at a higher rate than others.

Auditing

Auditing Tax Accounting Accounting

IRS introduces business tax accounts as it targets big corporations for audits

Accounting Today

OCTOBER 20, 2023

The Internal Revenue Service is making improvements to its online tax professional accounts and hiring more accountants as it ramps up enforcement.

Tax

Tax Auditing Accounting Accounting

IRS tries to use AI to close tax gap

Accounting Today

JUNE 5, 2024

The Internal Revenue Service is turning to artificial intelligence to help select tax returns to audit and narrow the tax gap, but it needs to use this new technology consistently and transparently, according to a new government report.

Tax

Tax Auditing

IRS to reduce audits of EITC claimants

Accounting Today

SEPTEMBER 18, 2023

The service said Monday it plans to lower its audit rate of low-income taxpayers, even as some criticize its ability to protect taxpayer information.

Auditing

Auditing Tax

State tax changes predicted for this year

Accounting Today

JANUARY 22, 2025

More states are expected to simplify their sales tax laws and leverage artificial intelligence for doing tax audits, according to a new report from Avalara.

Tax

Tax Auditing

IRS lowered its sights on high-income taxpayer audits

Accounting Today

JUNE 24, 2024

The Internal Revenue Service switched over from focusing its audits on taxpayers earning $10 million or more to those earning $400,000 or more after passage of the Inflation Reduction Act.

Auditing

Auditing Tax

Tax partners matter more than firms when it comes to corporate taxes

Accounting Today

AUGUST 29, 2023

Accounting firms are less important than the partner leading the team in terms of the impact on the business's effective tax rate and the probability it will face an audit.

Corporation Tax

Corporation Tax Tax Auditing Accounting

PwC international tax platform now available for licensing

Accounting Today

SEPTEMBER 4, 2024

Big Four firm PwC announced that its international tax platform Beacon, which has been used internally, is now available for non-audit clients for Pillar Two and US international tax calculations.

Tax

Tax Auditing

Getting your old documents in order for analysis and audits

Accounting Today

AUGUST 22, 2023

You got your taxes filed by the skin of your teeth last year and before. But what if you're audited? What if you need a loan? Are you ready?

Auditing

Auditing Tax

ERC audits: Be prepared

Accounting Today

SEPTEMBER 5, 2023

The IRS is starting to get more interested in who prepared a claim for the Employee Retention Credit.

Auditing

Auditing Tax

By the numbers: Audits, cyber security and more

Accounting Today

SEPTEMBER 26, 2024

Accountants weigh in on which companies have cyber vulnerabilities, states with the highest tax collections per capita and other key metrics.

Auditing

Auditing Collections Tax Accounting

IRS uses AI to step up audits of large partnerships

Accounting Today

SEPTEMBER 8, 2023

The Internal Revenue Service is leveraging artificial intelligence to detect tax evasion as it uses the extra funding from the Inflation Reduction Act to ramp up compliance efforts.

Auditing

Auditing Tax

Assessing credit losses in financial statement audits

Accounting Today

AUGUST 29, 2024

As economic conditions fluctuate and accounting standards evolve, auditors face increasing challenges in evaluating how organizations estimate and report credit losses and providing a comprehensive overview of credit loss assessment in financial statement audits.

Financial Statements

Financial Statements Auditing Accounting Accounting

Pitfalls under the centralized partnership audit regime

Accounting Today

AUGUST 22, 2024

Six years of the Centralized Partnership Audit Regime have elucidated a central understanding: the provisions present plenty of potential pitfalls for partnerships, partnership representatives and the partners.

Auditing

Auditing Tax

IRS use of AI in tax audits could be a game changer, but with pitfalls

Accounting Today

SEPTEMBER 11, 2023

The Internal Revenue Service will need to tread carefully with how it uses AI amid growing questions about the reliability of the technology.

Auditing

Auditing Tax

Comey and McCabe weren't targeted for tax audits, TIGTA finds

Accounting Today

DECEMBER 1, 2022

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Auditing

Auditing Tax

Tax policy wonks rejoice, wealthy households cringe at IRS audit push

Accounting Today

FEBRUARY 29, 2024

Tax pros say those efforts will have big implications. A new GAO study adds more fuel to the research suggesting the agency should be probing more rich households.

Tax

Tax Auditing

Tech news: Trullion offers AI-powered cloud audit suite

Accounting Today

SEPTEMBER 20, 2024

Trullion offers AI-powered cloud audit suite; april tax solution now covers all 50 states; Workday announces new initiatives, investments and a wellness solution; and other accounting technology news.

Auditing

Auditing Tax Accounting Accounting

By the numbers: Future accountants, new state tax rates

Accounting Today

MARCH 13, 2025

The latest data on the number of students studying accounting, new state tax rates for 2025 and other major metrics.

Tax

Tax Accounting Accounting Auditing

IRS hasn't ensured audits remain low for taxpayers under $400K

Accounting Today

AUGUST 30, 2024

The Treasury Department directed the IRS not to use any additional Inflation Reduction Act funds to increase audits on small businesses or households earning less than $400,000.

Auditing

Auditing Tax

Art of Accounting: Whether I like auditing or taxes better

Accounting Today

AUGUST 1, 2022

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Auditing

Auditing Tax Accounting Accounting

IRS targets large partnerships for increased audits

Accounting Today

SEPTEMBER 3, 2024

The Internal Revenue Service is ramping up its scrutiny of large partnerships, leveraging increased funding under the Inflation Reduction Act of 2022.

Auditing

Auditing Tax

IRS commits to making Child Tax Credit changes quickly

Accounting Today

FEBRUARY 16, 2024

The Internal Revenue Service would be able to implement changes to the Child Tax Credit within weeks, IRS Commissioner Danny Werfel told Congress, and send out tax refunds promptly.

Tax

Tax Auditing

IRS audit rates plummet, especially for wealthy

Accounting Today

MAY 17, 2022

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Auditing

Auditing Tax

Microsoft plans to contest IRS claim it owes $28.9B in back taxes

Accounting Today

OCTOBER 12, 2023

The dispute centers on a 2012 IRS audit into transfer pricing, a method used by companies to shift profits to tax havens and avoid the U.S. corporate tax rate.

Corporation Tax

Corporation Tax Tax Auditing

IRS accelerates audits of business jet usage

Accounting Today

FEBRUARY 21, 2024

The Internal Revenue Service will be scrutinizing the use of corporate jets for personal travel more closely, focusing on big corporations and partnerships, as well as high-income taxpayers.

Auditing

Auditing Corporation Tax Tax

Elections, inflation drive sales tax pressures

Accounting Today

FEBRUARY 13, 2025

Expect rates to rise and audits to increase as cash-strapped states and localities feel the crunch.

Tax

Tax Auditing

IRS expands enforcement efforts and tech improvements

Accounting Today

JANUARY 12, 2024

The Internal Revenue Service reported progress Friday on its efforts to increase its audits of large corporations, complex partnerships and high-income individuals, collecting over half a billion dollars from millionaires who didn't pay their taxes.

Collections

Collections Auditing Tax

The tax code is too complicated—everyone needs an advocate in their corner to get the best outcome during tax season

Intuit

JANUARY 9, 2024

There’s no debating that tax season can be a stressful time for hardworking Americans, families, and small business owners each year. At the same time, for many, tax refunds are also the biggest check of the year, with more than 30% of Americans saying they rely on their tax refund to make ends meet—especially among Gen Z and millennials.

Tax

Tax Auditing

How tax and accounting pros can navigate climate disclosures

Accounting Today

MAY 14, 2024

Reliable data is the foundation of effective climate-related disclosures, and audit and tax professionals' experience is essential in supporting this data's integrity.

Tax

Tax Auditing Accounting Accounting

Simplifying Family Tax Credits: Why it Matters and What Can Be Done

Intuit

APRIL 8, 2024

We have recently seen quite a bit of discussion in Congress about family tax credits, and, in particular, the EITC and CTC. What we know is that tax complexity impedes individuals, the self-employed, small businesses, and especially lower-income workers from maximizing their well-earned tax benefits.

Tax

Tax Auditing

IRS audit rates declined further in 2022

Accounting Today

JANUARY 4, 2023

(..)

Auditing

Auditing Tax

IRS tries to boost audit rates of wealthy

Accounting Today

JUNE 1, 2022

(..)

Auditing

Auditing Tax

ESG: The next hundred-year flood

Accounting Today

AUGUST 5, 2024

Environmental, social and governance work could be for accountants in the 21st century what tax and audits were in the 20th.

Auditing

Auditing Tax Accounting Accounting

Top Remote Audit, Tax and Accounting Candidates | March 27, 2025

accountingfly

MARCH 27, 2025

Top Remote Audit, Tax, and Accounting Candidates This Week Are you in need of remote accountants? Our ‘ Always-On Recruiting ‘ program allows you to connect with highly skilled and experienced remote audit, tax, and accounting candidates without any upfront costs. Accountingfly can assist you!

Auditing

Auditing 1099 Preparation Tax Accounting

Trends in client documentation that make accounting easier and audits less painful

Accounting Today

DECEMBER 22, 2022

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Auditing

Auditing Accounting Accounting Bookkeeping

Navigate the IRS audit storm: Essential extension strategies for partnerships

Accounting Today

APRIL 4, 2024

With tax authorities scrutinizing partnerships, CPAs and tax pros need to think more strategically about filing for extensions.

Auditing

Auditing Tax

NY sues FDIC over $44M in unpaid Signature Bank taxes

Accounting Today

JANUARY 30, 2024

The city's department of finance audited Signature after the bank shuttered in March and found tax deficiencies for years 2015 through 2021 related to unreported income allocation and adjustments to investment and capital income.

Tax

Tax Auditing

IRS sets up unit to focus on tax compliance at pass-throughs

Accounting Today

SEPTEMBER 20, 2023

The service is establishing a group within its Large Business and International division to bolster tax compliance at large partnerships and S corps.

Tax

Tax Auditing

IRS audited former FBI directors Comey and McCabe

Accounting Today

JULY 7, 2022

(..)

Auditing

Auditing Tax

EIN red flags trigger tax audits

State sales tax changes could mean more audits

Webinars

Trending Sources

IRS tax audits may show unintended racial, ethnic bias

Webinars

Art of Accounting: Perception vs. reality for tax audit fees

Enhancing equity in tax audits

IRS introduces business tax accounts as it targets big corporations for audits

IRS tries to use AI to close tax gap

IRS to reduce audits of EITC claimants

State tax changes predicted for this year

IRS lowered its sights on high-income taxpayer audits

Tax partners matter more than firms when it comes to corporate taxes

PwC international tax platform now available for licensing

Getting your old documents in order for analysis and audits

ERC audits: Be prepared

By the numbers: Audits, cyber security and more

IRS uses AI to step up audits of large partnerships

Assessing credit losses in financial statement audits

Pitfalls under the centralized partnership audit regime

IRS use of AI in tax audits could be a game changer, but with pitfalls

Comey and McCabe weren't targeted for tax audits, TIGTA finds

Tax policy wonks rejoice, wealthy households cringe at IRS audit push

Tech news: Trullion offers AI-powered cloud audit suite

By the numbers: Future accountants, new state tax rates

IRS hasn't ensured audits remain low for taxpayers under $400K

Art of Accounting: Whether I like auditing or taxes better

IRS targets large partnerships for increased audits

IRS commits to making Child Tax Credit changes quickly

IRS audit rates plummet, especially for wealthy

Microsoft plans to contest IRS claim it owes $28.9B in back taxes

IRS accelerates audits of business jet usage

Elections, inflation drive sales tax pressures

IRS expands enforcement efforts and tech improvements

The tax code is too complicated—everyone needs an advocate in their corner to get the best outcome during tax season

How tax and accounting pros can navigate climate disclosures

Simplifying Family Tax Credits: Why it Matters and What Can Be Done

IRS audit rates declined further in 2022

IRS tries to boost audit rates of wealthy

ESG: The next hundred-year flood

Top Remote Audit, Tax and Accounting Candidates | March 27, 2025

Trends in client documentation that make accounting easier and audits less painful

Navigate the IRS audit storm: Essential extension strategies for partnerships

NY sues FDIC over $44M in unpaid Signature Bank taxes

IRS sets up unit to focus on tax compliance at pass-throughs

IRS audited former FBI directors Comey and McCabe

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