top tax vendors caught red-handed selling private taxpayer data

taxslayer, h&r block and taxact have been passing on sensitive personal and financial data to meta, google and other big tech companies.

by 卡塔尔世界杯常规比赛时间 research

q: since when did private tax returns become public information?

a: since some of the nation’s biggest tax preparers decided to share it.

more cybersecurity: jon baron: why the u.s. must act now to protect our online privacy |top tax vendors caught red-handed selling private taxpayer data | how hacker-proof is your firm?it takes a village to stop cybercrime | one-third of cyber attacks involve small businessescyber insurance costs rise in health care as attacks soarthe why, what and how of cybersecurity for accountantswhen cyber-crime hits close to homecybersecurity for tax professionals |

more tax: irs embracing stakeholders | coming soon: new ways to pay the irs | irs sets milestones for radically new service | irs promises 12 customer service initiatives | should tax preparers be certified competent? | irs has big plans for its $80 billion | can’t irs tax pro accounts do more? | taxpayer assistance centers need upgrade
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for all your concerns about protecting client information, it seems that taxslayer, h&r block and taxact have been passing on sensitive personal and financial data to meta, google and other big tech companies.
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can we lead gen z to careers in accountancy?

screenshotonline campaigns are just the beginning.

by 卡塔尔世界杯常规比赛时间 research

do you remember what was at the top of your mind back in high school?

a career in accountancy, right?

more: new aicpa program aims to open personnel pipeline
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right. maybe. but probably not. you probably had other priorities. you probably didn’t even know what accountants did all day, other than wear suits and crank adding machines.
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new aicpa program aims to open personnel pipeline

young businesswoman talking to her client and using tabletfirms are being contacted to participate.

by 卡塔尔世界杯常规比赛时间 research

as the leaders of cpa firms know quite well, the pipeline of incoming professionals has slowed to somewhere between a trickle and a drip.

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the causes are many:

  • the cost of higher education
  • misconceptions about the profession
  • the difficulty of the cpa exam
  • competition from other professions
  • competition from corporations needing accountants

but not to worry! the american of institute of cpas is on the case!
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survey: more than ever, ethics matter

poll response snapshotopportunities persist for trusted advisors.

by 卡塔尔世界杯常规比赛时间 research

a recent harris poll survey conducted on behalf of the american institute of cpas finds that individuals in business have more concerns about ethics than ever – and the trend is rising.

in that ethics often involve money and compliance, the trend in business intersects with accountancy and the kind of consulting that accountants often offer.

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the survey segregated data for three cohorts:

opinion elite – people in the general public who are active in civic activities and follow business issues.

business leaders – full-time corporate officers or high-level managers 28 years old or older who have decision-making responsibility in companies with 500 or more employees.

future talent – ages 20-30 pursuing or having a college degree and working less than 10 years.
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new businesses mean new business

bar chart
what do you consider the top issue facing your business? owners see economic uncertainty as the top issue and have started increasing cash reserves. from gusto.

 

some are side hustles that flourished. seven lessons for accountants.

by 卡塔尔世界杯常规比赛时间 research

new businesses are burgeoning. last year, 5 million new businesses entered the market, according to a survey from the gusto company. entrepreneurialism is 42 percent higher than it was just before covid-19 hit.

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every one of these new businesses – and they include full-time leadership as well as part-time side hustles – is a potential client for  a cpa practice. but the demographics – and thus the marketing strategies – are quite different from the historical white males who used to comprise most of the entrepreneurial cohort.
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can better tech attract personnel?

six ways work becomes more engaging with the right tools.

by 卡塔尔世界杯常规比赛时间 research

one of the accounting industry’s most persistent and worsening problems is the difficulty in hiring and retaining professionals. according to the 卡塔尔世界杯常规比赛时间 business barometer, 48 percent cite staffing as a critically problematic issue.

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the pipeline is part of the problem. the supply of graduates with majors in accountancy has been dropping since 2015.

accounting firms can’t do much about the dwindling supply of professionals, but they can take action to attract those who are new to the trade.
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survey: tax pros try new solutions to old problems

some of them might work for you.

by 卡塔尔世界杯常规比赛时间 research

cpa firms have been through a lot in the past few years. it’s a wonder cpas are still in business and still, in many cases, sane.

more: cpas warn small businesses to beware | clientele and revenues rising, but … | should tax preparers be certified competent? | have no fear, april is here | survey: busy season looking good | on business outlook, cpas are confident … and concerned | tax pros offer advice for small businesses | busy season barometer finds many cpas in transition | more cpas see worsening economy | has early tax season optimism peaked? | marchternity: just say ‘no’ | marchternity: the solution is community | how bullish are you this tax season? | accountants’ top problems for tax season 2023 | tax season 2023: better or worse?
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but things seem to be settling down. covid-19 is waning a bit. the federal government didn’t issue any last-minute, mid-season tax edicts. firms are scooping up new clients. revenues and profits are up, and more than half of all practitioners are daring to admit a sense of optimism.
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cpas warn small businesses to beware

bonus: how do you rate your firm? how does that compare?

by 卡塔尔世界杯常规比赛时间 research

cpas are getting increasingly worried about the economy and its impact on small businesses, according to the 卡塔尔世界杯常规比赛时间 busy season barometer.

more: clientele and revenues rising, but … | have no fear, april is here | survey: busy season looking good | on business outlook, cpas are confident … and concerned | tax pros offer advice for small businesses
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even though inflation’s lessened substantially, supply chains are getting back in order and just about everybody who wants a job has a job, respondents to the survey are more pessimistic in the warm sunshine than in the dark days of late winter.
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transferring business interests to optimize estate taxes

couple sitting across desk from advisorstrategic estate planning could save your clients millions.

by anthony venette, cpa/abv

we stand at the precipice of the largest wealth transfer in american history. millions of business owners are struggling to write the next chapter of their companies and their legacies. prudent gift and estate tax planning can be the difference between creating generational wealth and squandering it. gifting privately held business interests to a child or children can be an effective and tax-efficient way to maximize wealth transfer and achieve legacy planning goals.  

more: enhance wealth by mitigating taxes | your client’s instincts are wrong | preserving wealth is a different mindset | three approaches to investment consulting | 2022世界杯32强赛程表时间
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that being said, many business owners are unaware of the benefits of gifting interests in their businesses rather than cash. here are four important reasons why gifting business interests can be advantageous: 

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help business clients lower property tax assessments

profile of man shouting tax and other, starred-out wordssome property owners pay inaccurate property tax levels by as much as 20% to 30%.

by josh malancuk with jm tax advocates

with cash-starved states and municipalities looking under every nook and cranny for revenue, manufacturers with lots of fixed assets and personal property are generally taking it on the chin when it comes to their property tax assessments.

more: six kinds of loan covenants | 26 ways to wreck a financial projection | three ways to run a break-even analysis | price not always the top consideration in a sale | when an owner dies without a buy-sell agreement | due diligence is in the details
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many of your business clients, especially manufacturers, sense their assessments are too high. but most don’t have the time, resources or expertise to challenge their assessment through the protest or appeal process before the deadline. and so, overpayments continue for another cycle and then again, and again and again. that’s what assessors count on. but you owe it to your clients to keep your assessors accountable through available appeals and to help them avoid overpaying taxes year after year.

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irs embracing stakeholders

partnership, feedback sought.

by 卡塔尔世界杯常规比赛时间 research

the internal revenue service recognizes that it cannot achieve effective tax administration alone, that it must include a broad ecosystem of stakeholders.

more: coming soon: new ways to pay the irs | irs to speed up issue resolution | irs sets milestones for radically new service | irs promises 12 customer service initiatives | should tax preparers be certified competent?
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in other words, taxation takes a village.

the irs’s new strategic operating plan 2023-2031 delves into the breadth and variety of stakeholders.
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accountants raise alarms on small business outlook

the avalara accountants confidence report points to difficulties ahead for small businesses to access capital, increase profits, raise revenues, hire new employees, and control costs.

looking ahead 12-18 months, accountants expect increasingly acute hardships, led by problems in accessing fresh capital, hiring, and managing labor costs. but new technology and automation could help cushion the pain for some.
https://cpa.click/smb23outlook
click to download (pdf 19 pages)

avalara, inc., a leading provider of cloud-based tax compliance automation for businesses of all sizes, released a new survey of over 500 main street accountants representing more than 100,000 small businesses.

survey responses revealed that looming economic headwinds could create challenges for small businesses in the next 12–18 months. the survey, conducted during the 2023 tax season, shows that accountants believe small businesses will face challenges in accessing fresh capital, increasing profits, managing payroll costs, weathering supply chain difficulties, and hiring new staff.

get the instant download here:
the avalara accountants confidence report

the 2023 avalara accountants confidence report, produced in conjunction with 卡塔尔世界杯常规比赛时间, queried trusted advisors with clear insights into the financial health of small business clients. the report measures accountants’ attitudes and outlook on a variety of pressing issues, leading with sentiment on the health of small business clients, and providing a read on the national economy and the state of smaller accounting practices. accountants were surveyed as they combed through business clients’ financials and prepared their tax returns.

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coming soon: new ways to pay the irs

person using credit card to pay bill onlineimprovements will be made over four years.

by 卡塔尔世界杯常规比赛时间 research

americans are used to paying for things online, over the phone, through bank transfers, with automatic renewals, with credit cards, digital wallets and checks in the mail, not to mention a variety of specialized banks, such as paypal and venmo, and even good ol’-fashioned cash.

more: irs to speed up issue resolution | irs sets milestones for radically new service | irs promises 12 customer service initiatives | should tax preparers be certified competent? | irs: let the sun shine in … and out | irs has big plans for its $80 billion | can’t irs tax pro accounts do more? | hello? irs? anybody home? | taxpayer assistance centers need upgrade | at the irs, short on staff means short on service
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to the frustration of millions of american taxpayers, the internal revenue service, until recently, has accepted payments only with 19th-century technology.
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