Accounting and tax articles, news, products, podcasts, and videos from CPA Practice Advisor
Top News
Accounting February 17, 2025
Voting Opens for 2025 Readers’ Choice Awards
Voting in the 2025 Readers’ Choice Awards is now open. Each year, readers get the opportunity to show their support for the programs, hardware, services, and other technologies they use and trust.
Accounting March 31, 2025
GASB Seeks Input on Disclosures for Severe Financial Stress and Probable Dissolution
The Governmental Accounting Standards Board issued a preliminary views document on March 31 regarding proposals associated with accounting and financial reporting for severe financial stress and probable dissolution disclosures.
Taxes March 31, 2025
Trump Tells Treasury and IRS to Eliminate Paper Checks
President Donald Trump signed an executive order last week that authorizes the federal government to begin phasing out the use of paper checks and switch exclusively to electronic payments this fall, with some limited exceptions.
Payroll March 31, 2025
Taxpayer Absorbs Full Tax Weight on Hardship Distribution
If a taxpayer is in dire need, they may choose to take a “hardship distribution” from a qualified retirement plan. However, as shown in a new case, Campana, TC Memo 2025-23, 3/19/25, this doesn’t absolve any tax liability.
Payroll March 31, 2025
Patriot Payroll Ranks First for Payroll Tax Filing
U.S. News & World Report compared price, tax filing support, integrations and automations, and more to determine which popular payroll software options made the 2025 Best Payroll Software list.
Accounting March 31, 2025
insightsoftware Announces Global Expansion of JustPerform Financial Platform
The financial performance platform is now available in APAC, North America, the UK, and Ireland. (The company instentionally spells it's name in lower case.
Taxes March 31, 2025
S Corp Confusion Costs Solopreneurs $50 Billion in Tax Savings, Study Finds
Despite the potential for significant tax savings, only 4% of solopreneurs operate as an S corporation, while the majority default to sole proprietorships (69%) or limited liability companies (26%), according to the results of a survey.
Taxes March 31, 2025
IRS Data Shows Tax Refund Amounts Are 4.6% Higher This Tax Season
The IRS has sent more than 55.7 million refunds to taxpayers totaling nearly $179.5 billion thus far this tax season, an increase of 1.3% and 5.9%, respectively, from last year.
Tax News
Taxes March 31, 2025
Trump Tells Treasury and IRS to Eliminate Paper Checks
President Donald Trump signed an executive order last week that authorizes the federal government to begin phasing out the use of paper checks and switch exclusively to electronic payments this fall, with some limited exceptions.
Payroll March 31, 2025
Taxpayer Absorbs Full Tax Weight on Hardship Distribution
If a taxpayer is in dire need, they may choose to take a “hardship distribution” from a qualified retirement plan. However, as shown in a new case, Campana, TC Memo 2025-23, 3/19/25, this doesn’t absolve any tax liability.
Taxes March 31, 2025
S Corp Confusion Costs Solopreneurs $50 Billion in Tax Savings, Study Finds
Despite the potential for significant tax savings, only 4% of solopreneurs operate as an S corporation, while the majority default to sole proprietorships (69%) or limited liability companies (26%), according to the results of a survey.
Taxes March 31, 2025
IRS Data Shows Tax Refund Amounts Are 4.6% Higher This Tax Season
The IRS has sent more than 55.7 million refunds to taxpayers totaling nearly $179.5 billion thus far this tax season, an increase of 1.3% and 5.9%, respectively, from last year.
Taxes March 29, 2025
Happy 50th Birthday to the Earned Income Tax Credit
A component of the Tax Reduction Act, the EITC was signed into law by President Gerald Ford on March 29, 1975, and has become one of the federal government's largest anti-poverty programs.
Taxes March 28, 2025
Bank Secrecy Act Data Key to IRS-CI Cracking Many Financial Crime Cases
The IRS Criminal Investigation unit released new statistics on March 28 highlighting how the agency has investigated financial crimes using Bank Secrecy Act data.
State and Local Taxes March 27, 2025
How to Anticipate and Navigate Property Tax Scenarios for Businesses
Property taxes and business license compliance present a complex landscape, especially when significant business events involving mergers, acquisitions, or expansion occur.
Taxes March 27, 2025
Stock Market Surge in 2024 Means Higher Taxes in 2025
With capital gains, dividends and interest income soaring, many taxpayers are seeing the flip side—bigger tax bills and smaller refunds.
Accounting News
Accounting February 17, 2025
Voting Opens for 2025 Readers’ Choice Awards
Voting in the 2025 Readers’ Choice Awards is now open. Each year, readers get the opportunity to show their support for the programs, hardware, services, and other technologies they use and trust.
Accounting March 31, 2025
GASB Seeks Input on Disclosures for Severe Financial Stress and Probable Dissolution
The Governmental Accounting Standards Board issued a preliminary views document on March 31 regarding proposals associated with accounting and financial reporting for severe financial stress and probable dissolution disclosures.
Accounting March 31, 2025
insightsoftware Announces Global Expansion of JustPerform Financial Platform
The financial performance platform is now available in APAC, North America, the UK, and Ireland. (The company instentionally spells it's name in lower case.
Taxes March 31, 2025
S Corp Confusion Costs Solopreneurs $50 Billion in Tax Savings, Study Finds
Despite the potential for significant tax savings, only 4% of solopreneurs operate as an S corporation, while the majority default to sole proprietorships (69%) or limited liability companies (26%), according to the results of a survey.
Accounting Standards March 31, 2025
AICPA Committee Approves Clarification to Standard Related to Financial Statement Preparation as Part of a CAS Engagement
The revised language clarifies that while not required to be applied, the accountant is not precluded from applying AR-C section 70, in whole or in part.
Payroll March 31, 2025
Job Tenure is Down: Do’s and Don’ts Before You Quit
Job tenure is decreasing, according to a Bureau of Labor Statistics analysis. Workers leaving their jobs should keep these financial considerations in mind.
Payroll March 28, 2025
What is the Average Salary in Your State?
According to a recent study from SoFi, which looked at the highest-paying states in the country, employees in 12 locations—including Massachusetts, California, Connecticut, and Maryland—earn significantly more than the national average salary.
SEC March 28, 2025
GOP Embraces Atkins for SEC Chair, While Dems Doubt His Judgment
Senate Banking Republicans are looking forward to Paul Atkins changing how the SEC works, while Democrats question his record.
Payroll News
Payroll March 31, 2025
Taxpayer Absorbs Full Tax Weight on Hardship Distribution
If a taxpayer is in dire need, they may choose to take a “hardship distribution” from a qualified retirement plan. However, as shown in a new case, Campana, TC Memo 2025-23, 3/19/25, this doesn’t absolve any tax liability.
Payroll March 31, 2025
Patriot Payroll Ranks First for Payroll Tax Filing
U.S. News & World Report compared price, tax filing support, integrations and automations, and more to determine which popular payroll software options made the 2025 Best Payroll Software list.
Payroll March 31, 2025
Why Trusting Social Media for Financial Advice is a Terrible Idea
While social media may be a popular way to access low-cost financial advice, it’s a horrible resource for a number of reasons—here’s why.
Payroll March 31, 2025
Job Tenure is Down: Do’s and Don’ts Before You Quit
Job tenure is decreasing, according to a Bureau of Labor Statistics analysis. Workers leaving their jobs should keep these financial considerations in mind.
Payroll March 28, 2025
Social Security Delays, Tweaks New In-Person ID Check Requirements
After facing backlash for a plan to require in-person identity checks for millions of Americans to receive their much-needed monthly benefits, the Social Security Administration has altered and delayed the controversial policy change.
Payroll March 28, 2025
What is the Average Salary in Your State?
According to a recent study from SoFi, which looked at the highest-paying states in the country, employees in 12 locations—including Massachusetts, California, Connecticut, and Maryland—earn significantly more than the national average salary.
Payroll March 28, 2025
Judge Delays DOGE’s ‘Are You Alive’ Push for Americans’ Social Security Data
A federal judge in Maryland admonished the Trump administration for trying to rush her into lifting restrictions on an Elon Musk team seeking access to the private Social Security Administration information of millions of Americans.
Payroll March 27, 2025
40% of Employees Have Quit a Job Because They Didn’t Trust Their Manager, Survey Finds
A new report from online career platform LiveCareer reveals workplace trust issues across generations, with Gen Z employees least likely to trust their employer's leadership.
Technology News
Accounting February 17, 2025
Voting Opens for 2025 Readers’ Choice Awards
Voting in the 2025 Readers’ Choice Awards is now open. Each year, readers get the opportunity to show their support for the programs, hardware, services, and other technologies they use and trust.
Firm Management March 28, 2025
Tech Essentials for Family Practice CPAs – The Accounting Technology Lab Podcast – March 2025
In this video and podcast, Randy Johnston and Brian Tankersley, CPA, discuss the fundamentals of the technology needed to efficiently run a family tax and accounting practice. Watch the video, listen to the audio podcast below, or read the transcript.
Accounting March 26, 2025
Sage Opens New North American HQ in Atlanta
The new office marks a significant milestone in the company’s long-term investment in the region, reflecting its commitment to innovation, job creation, and community engagement.
Auditing March 26, 2025
Fieldguide Launches Field Agents
Field Agents goes beyond simple automation by autonomously executing entire engagement workflows, transforming complex, multi-step processes that once took hours into seconds.
Technology March 25, 2025
Lattice Rolls Out AI Agent for Human Resources
The people management platform has debuted its AI agent for human resources, designed to help HR teams work better and make employees more productive.
Accounting March 25, 2025
Gartner Says CFOs Should Reset Expectations About AI’s Impact on Workforce Productivity and Headcount
Despite artificial intelligence’s promise for enhancing efficiency, many organizations struggle to turn investments in traditional and generative AI into material improvements in worker productivity.
Technology March 25, 2025
BlackCloak Releases Digital Executive Protection Framework
The new framework offers chief information security officers and chief security officers a detailed risk assessment and control review of the necessary components of a comprehensive digital executive protection program.
Technology March 25, 2025
AccountsIQ Debuts Workflow Approval Engine
The new workflow approval engine streamlines financial workflows, improves compliance, and enhances visibility, all while reducing reliance on manual processes, according to AccountsIQ.
Firm Management News
Mergers and Acquisitions March 28, 2025
Aprio and RSM US Make a Deal
Top 30 firm Aprio and top five firm RSM US have reached an agreement for Aprio to acquire RSM's Professional Services+ practice operating in the U.S. and Canada.
Firm Management March 28, 2025
Tech Essentials for Family Practice CPAs – The Accounting Technology Lab Podcast – March 2025
In this video and podcast, Randy Johnston and Brian Tankersley, CPA, discuss the fundamentals of the technology needed to efficiently run a family tax and accounting practice. Watch the video, listen to the audio podcast below, or read the transcript.
Payroll March 27, 2025
40% of Employees Have Quit a Job Because They Didn’t Trust Their Manager, Survey Finds
A new report from online career platform LiveCareer reveals workplace trust issues across generations, with Gen Z employees least likely to trust their employer's leadership.
Mergers and Acquisitions March 27, 2025
Baker Tilly Picks Up Invoke Tax Partners in Texas
Baker Tilly said the acquisition of Dallas-based Invoke enhances its capabilities in real estate and business personal property tax, sales and use tax, and severance tax.
Mergers and Acquisitions March 26, 2025
McConnell Jones Adds Taylor CPA & Associates in Georgia
Houston-based McConnell Jones, the largest majority African American-owned and controlled public accounting firm in the U.S., has acquired Taylor CPA & Associates, a firm with offices in Columbus and Atlanta in Georgia.
Mergers and Acquisitions March 25, 2025
Doeren Mayhew Snaps Up Thurman Campbell Group in Tennessee
The Troy, MI-based top 60 firm has expanded into Tennessee by acquiring TCG, a full-service accounting firm based in Clarksville, effective March 1.
Mergers and Acquisitions March 21, 2025
Rehmann to Merge in Kmetz, Elwell, Graham & Associates
The Troy, MI-based top 40 accounting firm is expanding in Florida by combining with Vero Beach-based CPA firm Kmetz, Elwell, Graham & Associates, effective June 1.
Accounting March 20, 2025
Professionals on the Move – March 20, 2025
Professionals on the Move is a collection of recent promotion, hiring and other staffing announcements from around the profession.
Webinars
March 19, 2025
LeaseCrunch to Host Webinar on Financial Due Diligence in M&A
The webcast will share practical strategies for streamlining financial due diligence workflows, especially through automation.
March 26, 2025
Archived Webcast: Helping Clients Set Up Their Remote Employees
Many businesses have team members across state lines, and you may have clients with remote employees in other states. Payroll can get confusing and tricky in these situations.
February 26, 2025
Archived Webcast: S Corporation Election Considerations for Corporations and LLCs
S Corporation elections are popular among Corporation and LLC owners due to various advantages. With the election deadline approaching in March, it is a great time to get refreshed on this popular election to help advise your clients.
January 29, 2025
Archived Webcast: New Year, New Legal Entity
Clients just starting out need insight on which legal structure to select for their business. Seasoned entrepreneurs may need insight as their company grows and the entity once selected may not be as advantageous as it once was. The New Year is an ideal time to get a refresh on business entity options for your…