The past year brought significant changes in how accounting firms and their clients approach digital and business transformation (see "
With that in mind, here are my top 10 predictions for 2021:
The National Taxpayers Union Foundation issued a report saying that federal credit programs are costing taxpayers tens of billions of dollars more than stated because the federal government isn't using fair value accounting.
National Taxpayer Advocate Erin Collins is objecting to proposed regulations that would enable the IRS to shorten its notice requirements from 45 days to as little as 10 days.
The Public Company Accounting Oversight Board settled a disciplinary order sanctioning JTC Fair Song CPA Firm for repeatedly violating rules and failing to cooperate with the investigation.
NASBA announces 2024-25 board of directors; HCVT adds pair of partners; and more news from across the profession.
Plus, Thomson Reuters integrates AI CoCounsel with tax solutions; Sovos introduces 1099 Professional solution; and other accounting tech updates.
Next year will bring a major test with the upcoming expiration of many of the provisions from the Tax Cuts and Jobs Act.
