News

Across the world, women in finance and accounting are underrepresented in leadership roles. This article explores solutions, including the value of “sisterhood.”

While acknowledging that the law is well intentioned, the opinion from a U.S. district court in Alabama said Congress lacked authority to enact the business ownership information reporting requirement.

CPA mobility offers CPAs flexibility to practice across state lines. Potential changes in state licensure requirements could disrupt mobility, with ramifications for organizations and CPAs in business and industry. An expert on business growth explains more in this blog post.

A finance leader and keynote speaker explains how one “sneaky” bias can limit leaders — and how a focus on progression planning instead of traditional succession planning can build stronger teams. Read the Q&A or listen to the podcast episode.

This week we look at: CTA found to violate Constitution by US District Court; Tax Court issues ruling on impact of SECURE 2.0 Act statute change on returns filed before December 29, 2022 effective date of the Act; IRS warns about need to reconcile premium tax credit on Forms 1040 after seeing an increase in the number of returns being filed without the required reconciliation

James Parkin is the Executive in Residence at Oregon State University, a part-time role where he advises faculty and students on the connection between the classroom and the accounting profession, including the opportunities for accounting majors. Jim draws on his 35-year career at Deloitte to help prepare the next generation of CPAs to be successful. He enjoys giving back to his alma mater, students, and his community. He agreed to share a little about his recent experiences in the classroom.

For our final Black History Month feature, we are grateful to honor Charles Wilhoite. As seasoned industry leader, Charles watched the CPA profession blossom from counting diversity with 10 fingers, to a community full of opportunities. Through his time working with clients, peers, and non-profits, Charles discovered the secret to becoming a superhero, "If young Black students, adults, and professionals can see me, I guarantee that some of them will believe they can be me—not special, but visible—a superpower that is wonderfully contagious".

Diversity is not just nice-to-have in accounting, it is essential.

The accounting field has a diversity gap and must promote inclusion for Black accountants. Discover actionable steps to empower Black accountants.

AICPA chair Okorie Ramsey dives into how accounting firms can make the most of this important recruiting and career development tool, and the benefits it offers for both mentee and mentor.

You need a method to retain your staff, even for a little longer, so your firm doesn't get stuck when someone leaves.

To celebrate Black History Month, we are excited to spotlight Grace Charles, an OSCPA member that embodies "paying it forward". As mentor to her peers at McDonald Jacobs, Grace redefines the workplace by centering cultural authenticity and resilience.

A look at: More BOI resources from CAMICO made available by NJCPA; District Court refuses to stay FBAR proceeding to await Tax Court result partially due to the age of the taxpayer; IRS announces program to go after corporate jet personal usage; The state of Arizona sues the IRS over tax status of state tax rebate.

ADP's chief economist, Nela Richardson, shares her thoughts on what's in store economically for the year ahead.

Many services can be marketed to new clients as well as to existing clients. Once you begin adding services to your clients, more develop.

This week we look at: Insurers updating their advice on BOI engagements; SALT cap 2023 increase bill fails on a procedural vote in the House; Jury finds taxpayer did not willfully fail to file FBAR reports; IRS takes position third party payors liable for ERC refund repayment in addition to common law employers; IRS sending out CP271 “soft letters” to those with open ERC refund claims; S corporation has a failure of 9 trusts receiving shares from decedent; Taxpayer unsuccessfully argues she only should pay taxes on social security actually received

High-performing workers often balk at being forced back into the office, giving companies plenty to consider before mandating a return.

Who owns the business and who is going to run it are separate — but equally important — questions.

This week we look at: No movement on tax bills this week - nor is final action at all likely to take place before March; E-Filing returns - good or bad idea? Two competing articles published this week; Taxpayer owes tax on IRA forfeited to government as part of criminal conviction; IRS discusses when CID voluntary disclosure program should be used instead of ERC voluntary disclosure program IRS warns about EFIN scam emails Taxpayer found to have submitted a late new refund claim rather than a revision to a timely filed informal claim

The AICPA Code of Professional Conduct can’t address every situation, so circumstances will arise that require CPAs to apply judgment in evaluating compliance with the provisions.