Explore the latest shifts in U.S. accounting standards led by FASB, focusing on revenue recognition and lease accounting. Learn what these changes mean for businesses.
Read more...
Explore how accounting firms are embracing remote solutions, leveraging cloud technology, and enhancing client trust in the evolving digital landscape.
Read more...
This article explores the transformative impact of cloud technology on accounting practices, highlighting efficiency, security, and collaboration advantages.
Read more...
Explore the latest shifts in U.S. tax legislation and their implications for tax compliance. Discover the role of digital technologies, ESG factors, and the increased need for CPAs adept at using advanced tax platforms.
Read more...
Explore how the shift toward digital commerce impacts sales tax compliance and the strategies businesses use to navigate these evolving regulations.
Read more...
Explore how leadership dynamics in accounting firms are changing due to technology and diversity trends, with insights into modern strategies and tools shaping the industry's future.
Read more...
How AI Is Reshaping Payroll: What Every Business Needs to Know The 2025 Payroll Special Report explores how artificial intelligence is revolutionizing payroll—transforming it from a back-office function into a strategic powerhouse. Discover how AI is enabling greater efficiency, accuracy, and compliance while unlocking real-time insights and cost-saving automation. With insights from industry leaders at ADP, Paychex, KPMG, and more,…
The Internal Revenue Servicesays the destruction of 30 million paper information returns will not impact taxpayers or preparers. The IRS has been heavily criticized this month for the destruction of the returns, mainly Form 1099s, which the agency blamed on aging technology.
“Taxpayers or payers have not been and will not be subject to penalties resulting from this action,” the IRS said in a prepared statement.
Some Congressional reaction was harsh while the America Institute of AICPAs issued a carefully worded statement that the action “was concerning”.
AICPA VP of taxation, Edward Karl said in the statement the “IRS management’s decision to destroy information return documents due to the processing backlog raised numerous questions regarding IRS’s decision making and risk assessment process.”
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards. Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that. A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
The 
