Treasury Secretary Steven Mnuchin stated at a press conference on March 17, 2020 that the payment deadline would be extended 90 days from April 15, 2020. His comments did not alter the Form 1040 filing deadline of April 15, 2020. Individuals can defer up to $1M, and corporations are able to defer up to $10M […]
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Non-Filers Beware
The IRS recently announced a renewed focus on non-filers by way of Information Release 2020-34 and Fact Sheet 2020-2. Both were issued on February 19, 2020 and warn of the IRS increasing face-to-face visits with high-income taxpayers who have not filed tax returns in 2018 or previous years. The IRS has hired additional enforcement personnel […]
FAQs: The future of the CPA
It’s no secret that the accounting profession is changing and with it, so is the future of the Certified Public Accountant (CPA). Whether it’s the rise of blockchain, or new business environments for entry level roles at accounting firms, CPAs are going to experience the lot of it in the years to come. So it’s […]
Press release: Surgent Exam Review wins 2020 BIG Innovation Award
Surgent announced it has been named a winner in the 2020 BIG Innovation Awards presented by the Business Intelligence Group. Over the past several years, Surgent has become a major player in the exam prep market, having invested millions of dollars in its proprietary A.S.A.P.® Techonology. Surgent prides itself on its sophisticated, adaptive approach to […]
Top 6 Trends in Accounting and Auditing for 2020
Believe it or not, we’re already heading into a new decade. Huge leaps have been made in the accounting industry in the previous decade, including a much greater focus on information technology which we’re seeing reflected in both the education and hiring processes. It comes as no surprise that this focus will continue in the […]
Concerned About Digital Transformation in the Accounting and Finance Industries? Consider a CMA Credential
Have you considered earning the Certified Management Accountant (CMA) credential? Like all industries, the fields of accounting and finance are rapidly changing in the wake of technological advancement. Automation, artificial intelligence, controls and analytics are becoming commonplace terms in the business environment, and companies are becoming more interested in data and how to develop processes […]
Survey shows accounting students want more options at firms
The accounting industry is vastly different from what it looked like a decade ago. Major shifts like the digital transformation in business, growing investment in blockchain, and increased interest in risk management mean that recruiters at top firms are seeking out candidates with more diverse skillsets than ever before. Today’s average associate has changed. Has […]
Independent Contractor vs. Employee: The Tax Difference
Since the introduction of virtual marketplace companies (VMC’s) like Uber, there has been some confusion about what is means to be an independent contractor vs. an employee. The important distinctions between these two worker classifications can seriously affect a worker’s wages and what taxes are paid by the worker or by the business. Get to […]
Digital Transformation Introduces New Advantages for CMAs
Institute of Management Accountants (IMA) recently released two reports showing the advantages of professional certifications for both employers and employees in an age of digital transformation. Both reports, “Achieving Competitive Advantage in the Digital Age – The Value of Training and Certification” and “Increasing Your Value in the Digital Age – The Impact of Professional […]
Will artificial intelligence take over accounting?
Artificial Intelligence (AI) is often used in science fiction to describe robots that take over the world, but lately the term has worked its way into workplaces around the world. As technological innovations become more sophisticated, AI is able to take on specific tasks in industries like customer service and manufacturing that previously could only […]