2023

article thumbnail

IRS plans foreign tax credit rules

Accounting Today

The Treasury Department and the Internal Revenue Service expect to issue proposed regulations to address the application of the foreign tax credit and related rules and the dual consolidated loss rules to certain types of taxes described in the GloBE Model Rules.

Tax 338
article thumbnail

A sneak peek into what’s next for reports in Xero

Xero

Our team hit the ground running in 2023, introducing a number of exciting features to new reports that we know you’ve been waiting for — including the addition of foreign currency to new reports. Here are some of the highlights and a sneak peek into what’s coming next. Don’t forget, the older versions of our reports will be retired on 31 July 2023. We urge you to start using new reports now , so you have plenty of time to get used to them before the older versions are retired.

XERO 343
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Swift Payment

Tipalti

Navigate SWIFT payments confidently with our step-by-step guide. Get ready to make fast, secure, and accurate cross-border payments using the SWIFT payment system.

145
145
article thumbnail

Firms look at ways to attract young people to accounting

Accounting Today

Accounting firms need to pay more to bring young people into the profession, as starting salaries are still lagging compared to other fields, and they have to make other changes in how the job is structured.

article thumbnail

Breaking Ground on Better Payment Processes: Strategies for Construction Pros

Speaker: Timothy Allsopp

Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.

article thumbnail

Could a simple licensing change increase the number of CPAs by 15%?

Blake Oliver

A University of Denver professors suggests replacing the 150-hour rule with a four-year degree and two years of work experience.

CPA 129
article thumbnail

CFOs should embrace digital transformation or risk irrelevance

Accounting Today

In an ever-shifting global landscape full of economic uncertainties, the traditional role of chief financial officers is undergoing a seismic evolution.

355
355

More Trending

article thumbnail

Why Not Use Dynamics GP for Another 10 Years or So?

Fidesic blog

You may have recently heard that Microsoft Dynamics GP and Business Central on-premise will no longer be sold to new customers after 2026. In this post we will discuss the situation with GP and what is possible. We are offering information, not advice. If you need advice on your Dynamics GP future, it's a good idea to check in with your GP consultant.

289
289
article thumbnail

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

Accounting Today

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

Tax 358
article thumbnail

IRS to offer free direct file online tax system in 13 states

Accounting Today

The Internal Revenue Service plans to run a limited pilot test of its free online tax system in 13 states next tax season, but it will only support certain tax credits.

Tax 353
article thumbnail

IRS requires business to start e-filing Form 8300 in 2024

Accounting Today

The Internal Revenue Service is telling companies they will need to start electronically filing their forms reporting cash payments over $10,000, starting Jan. 1, 2024.

Tax 354
article thumbnail

The Growth Architect: How Financial Leaders are Unlocking Potential

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

article thumbnail

IRS delays $600 1099-K threshold for another year

Accounting Today

The service will postpone the lower threshold, but will phase in a threshold of $5,000 for tax year 2024.

Tax 351
article thumbnail

FASB approves crypto asset standard

Accounting Today

The Financial Accounting Standards Board voted to adopt its eagerly awaited standard for cryptocurrency like Bitcoin held by companies.

article thumbnail

Ohio floats plan to recruit more CPAs

Accounting Today

The Ohio Society of CPAs is working on an action plan to attract more young people to the accounting profession.

article thumbnail

IRS will receive 30M more 1099-Ks

Accounting Today

Thanks to the lower threshold, the service expects to receive about 44 million 1099-Ks in 2024, up from about 14 million.

Tax 347
article thumbnail

2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

article thumbnail

Number of accounting grads plummets further

Accounting Today

The number of students earning accounting degrees keeps falling, according to the latest figures released by the American Institute of CPAs.

article thumbnail

FASB approves income tax reporting standard

Accounting Today

The Financial Accounting Standards Board voted to require companies to tell the public more about the taxes they pay, starting as early as 2025.

Tax 350
article thumbnail

Tax Strategy: Year-end 2023 tax planning

Accounting Today

In spite of the lack of new tax legislation so far this year, taxpayers and tax preparers have plenty to focus on in preparing 2023 returns.

Tax 347
article thumbnail

Treasury Department releases shutdown contingency plan for IRS, with 60,000 furloughs expected

Accounting Today

About two-thirds of IRS employees would be furloughed in the event of a shutdown, which appears likely this weekend.

Tax 347
article thumbnail

From Start to Scale: Driving Growth Through Seamless Payments Implementation

Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting

Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical

article thumbnail

Purdue sees spike in accounting enrollment

Accounting Today

Despite widespread reports of declines in accounting students, Purdue is defying the trend and seeing enrollment growing dramatically.

article thumbnail

Meet the 2023 Best Midsized and Large Firms to Work For

Accounting Today

An introduction to the members of Accounting Today's annual ranking of the top workplaces in the profession.

article thumbnail

IRS slashes PTIN fees

Accounting Today

The service is reducing the annual cost of a Preparer Tax Identification Number after a court ruled that the charge was too high.

Tax 345
article thumbnail

Corporate Transparency Act presents opportunity and risk for firms

Accounting Today

The CTA and beneficial information reporting may be a game-changer for accounting firms. Here's what you need to know.

article thumbnail

Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

article thumbnail

IRS expands features in Tax Pro Accounts

Accounting Today

The Internal Revenue Service is allowing tax practitioners to see their client's tax information, including balance due amounts, as well as withdraw from their active authorizations online in real time.

Tax 345
article thumbnail

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

Accounting Today

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

Auditing 345
article thumbnail

Accounting in 2024: The year ahead in numbers

Accounting Today

Accounting Today's annual survey reveals firms' expectations, worries and plans for the next 12 months.

article thumbnail

IRS to reduce audits of EITC claimants

Accounting Today

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 344
article thumbnail

Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

article thumbnail

The 2023 Top 100 People: Fixing the pipeline problem

Accounting Today

Accounting's influencers offer their advice for solving the profession's most critical issue.

article thumbnail

Meet the 2023 Best Small Firms to Work For

Accounting Today

An introduction to the members of Accounting Today's annual ranking of the top workplaces in the profession.

article thumbnail

IRS opens PTIN renewal period for 2024

Accounting Today

The service began allowing nearly 800,000 tax preparers to renew their Preparer Tax Identification Numbers for next year.

Tax 340
article thumbnail

Accountants, IRS and DOJ hunt for fraud

Accounting Today

The Internal Revenue Service is warning taxpayers to be on the lookout for charity fraud as accountants look to advise clients on how to detect and avoid fraud.

article thumbnail

Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.