Accounting

Transition Advisors and Whitman Business Advisors announced that they have merged to form Whitman Transition Advisors, effective immediately, creating the largest M&A and consulting organization focused exclusively on CPA firms in the country. Firm services will include mergers & acquisitions, talent acquisition, owner succession consulting, partner retreats and business advisory service offerings. The new firm

Bill.com CEO René Lacerte has been growing his company with recent acquisitions that have been adding spend management and accounts receivable capabilities, with more deals perhaps on the way. He founded Bill.com as an online billing technology provider for small businesses in 2006 after co-founding and leading the payroll company PayCycle for over six years.

Two leaders of Congress’s main tax-writing committee introduced legislation Friday to undo tax refund delays for recipients of the Earned Income Tax Credit who file their taxes early. The bill, introduced by House Ways and Means Committee chairman Richard Neal, D-Massachusetts, and Ways and Means Oversight Subcommittee chairman Bill Pascrell, D-New Jersey, would eliminate much

The role of the chief financial officer has evolved more in the last year than in the past five years, due to the massive digital transformation that took place in response to the pandemic. While numbers — from those associated with performance metrics to the bottom line — continue to be a primary focus, CFOs

The Internal Revenue Service has implemented a new verification process for taxpayers who want to access their online tax accounts and self-help tools that includes taking a selfie and submitting a photo of their driver’s license or passport to a third-party service, ID.me. The IRS announced the new authentication procedure last November after a series

The tax season that’s due to open when the Internal Revenue Service begins accepting tax returns next Monday is promising to bring a host of challenges. Tax professionals are largely ready to forge ahead to help their clients get through it, but now they may have trouble getting power of attorney forms processed. The IRS

In the past decade, the accounting industry has transformed significantly. Digital disruptions, increased competition, adjusting to a hybrid workforce and changing market demands are forcing firms to fundamentally change the way they operate and serve customers. To stay competitive and meet market demands, firms must innovate their product offering, adapt to changing business needs, and

A coalition of 11 stakeholders groups from the tax practitioner community are urging the IRS to take action to reduce unnecessary burdens for taxpayers and practitioners during the upcoming filing season. IRS staff are currently processing a meeting request so that the practitioner groups can elaborate on their recommendations and respond directly to any questions

Surgent Accounting & Financial Education announced the launch of a new mobile app, dubbed Study Companion, to teach CPA Exam candidates in small “microbursts” of study time on their smartphones. The app, available for free on both the Apple App Store and the Google Play store, is an extension of Surgent’s CPA Review course and

The so-called Great Resignation is presenting an opportunity for accountants to seek out more satisfying places to work where they can realize their career goals or just be able to balance their work and personal lives better. After millions of workers opted to stay with their jobs in 2020 amid all the uncertainty about the

Employees are the single most important factor contributing to a business’s success. Employees drive value for their employer by sharing their experience, wisdom, productivity and, most importantly, their innovation. These intangible qualities are recognized in the new cultural buzzword “human capital.” Without employees, businesses are impersonal, cold and transactional. Because employees provide so much economic

Top 15 Firm BKD CPAs & Advisors announced that it has acquired Mesa, Arizona-based Schmidt Westergard. The combination, which was effective January 16, gives BKD a strong presence in the Phoenix market. “We carefully look for firms that are a strong strategic and cultural fit when making such moves,” BKD CEO Tom Watson said in

Withum held its 13th annual State of the Firm (SOTF) event last Monday. About 300 Withum’ers attended in person at the New Jersey Performing Arts Center theater and 1,200 of us “attended” on Zoom. It was an exciting four and a half hour presentation and provided data about how we are doing and a glimpse

The Internal Revenue Service made its Free File program available on Friday, allowing taxpayers who earn less than $73,000 in adjusted gross income to start preparing and filing their tax returns for free. Tax season officially launches on Jan. 24 this year, so the tax prep software vendors who are participating in the program will

Michael Tiberi and David Zabrecky were named partner and Jody Ingraham and Edison Uschold were promoted to principal at Legacy Professionals, Westchester. Sikich elected nine to partner: Joan Bell, technology, Denver; Matt Denton, audit, Chicago; Wade Kaesebier, tax, Springfield; Tom Magnor, tax, Milwaukee; Ryan Spohn, CFO, advisory, Chicago; Lara Stanton, audit, Chicago; Martha Trotter, audit,

The Internal Revenue Service added more information on the Recovery Rebate Credit, providing extra details on its Frequently Answered Questions document about finding the first Economic Impact Payment amounts to calculate the credit. Last week the IRS updated the document as it prepares for the start of tax season on Jan. 24 (see story). On

The Internal Revenue Service is pilot-testing a program for the next year and a half to expedite requests for rulings and determination letters for corporate taxpayers. The IRS issued a revenue procedure Friday establishing an 18-month pilot program to offer an opportunity for fast-track processing of certain requests for letter rulings solely or primarily under

The Growth Partnership has combined with Inside Public Accounting, bringing together the consultancy that administers the Rosenberg Survey of practice management at firms with a publication that does its own high-profile surveys and rankings of firms. Both organizations will now be working together to provide thought leadership and benchmarking surveys centered around the accounting profession.

It just got harder to hide from the IRS. Starting this month, users selling goods and services through such popular sites as Venmo, Etsy and Airbnb will begin receiving tax forms if they take a payment of more than $600. One by one in recent months, tech giants have been warning users of the coming

With inflation reaching a 40-year high, consumers are feeling its effects, and internal auditors should probably start keeping tabs on inflation risks as well. Richard Chambers, former president and CEO of the Institute of Internal Auditors and now a senior internal audit advisor at the software company AuditBoard, is urging auditors to do just that.