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Dirty Dozen list from IRS opens with phishing, smishing scams

The IRS opened its annual Dirty Dozen list with scams that trick recipients into clicking a suspicious link, filling out personal and financial information, or downloading malware onto their computer.

Organizations moving forward with generative AI despite concerns, survey shows

More than 70% of finance executives have worries related to privacy, ethics, and accuracy, but some respondents in an AICPA & CIMA survey say they’re moving ahead with implementation of generative AI tools.

Latest federal budget includes $20 billion rescission for IRS

The appropriations act enacted over the weekend that kept the federal government from shutting down included $12.3 billion for the IRS, but also codified an agreed-upon $20 billion cut in money allocated by the Inflation Reduction Act.

A firm grasp on reality: M&A activity expected to rise

Four in five M&A professionals see deal volume increasing over the next six months, which should come as no surprise to accounting firms considering a recent flurry of activity.

Enforcement, voluntary programs yield over $1 billion from ERC claims

On the deadline for businesses to offer to repay erroneous employee retention credit claims under the voluntary disclosure program (VDP), the IRS said assessments account for $572 million of the revenue, with the VDP and the claim withdrawal process accounting for the rest.

Taxpayer notice of third-party contact shortened under proposed regs.

The IRS would reduce the notice of third-party contact with respect to the determination or collection of the taxpayer’s tax liability to 10 days from 45 days in several circumstances involving statutory periods for assessments and collections that expire in one year or less.

How financial services companies are responding to employee demands

If you’re a CFO struggling to retain talent, it may be time assess whether you’re keeping up with the competition in terms of offering a flexible work schedule and adequate compensation.

Werfel says digital initiatives can transform ‘iconically unpopular’ IRS

Allowing taxpayers to communicate with the IRS almost entirely online will free the agency’s workers to handle other tasks, Commissioner Danny Werfel said in a speech Monday.

A&A Focus recap: Lease challenges, SAS 145, and fraud

The March installment of the monthly newscast series covered topics ranging from year 2 lease accounting issues and commercial real estate risks to SAS No. 145 updates for auditors and fraud risks during audits.

Grant Thornton deal continues the private-equity investment trend

The top 10 firm is the largest to strike a deal with private equity but isn’t the first. Four other noteworthy deals have been struck in the past two years.

Risk concerns remain for CFOs, but they see improvement ahead

Three in five finance leaders say “now is not a good time” to take greater risks, according to Deloitte’s first-quarter North American CFO Signals survey, partly because of expected upcoming interest rate cuts.

Retirement fears do not play out in reality, survey shows

Many approaching retirement age are concerned about whether they will be prepared for life after a regular paycheck, but many who are already retired are faring better than they expected.

4 things CPAs need to know about SEC climate rule

Now is the time to begin preparing for new reporting and attestation requirements. A summary of the 886-page rule by the AICPA and the Center for Audit Quality is a good place to start.

Trust issues: How earning employee trust can pay dividends

While new research reveals that most employers trust their employees, many fall short when it comes to communicating their level of confidence. That lack of clarity can hinder the ability of employees to do their best work.

Decision holding Corporate Transparency Act unconstitutional appealed

The U.S. Justice Department filed an appeal Monday challenging the district court’s decision that the law, which requires businesses to report beneficial ownership information, is unconstitutional.