global fintech funding gains momentum

fintechs raise $30.79 billion, accounting for $1 out of every $5 raised for startups across industries.

by 卡塔尔世界杯常规比赛时间 research
via insider intelligence

fintechs raised $30.79 billion across 657 deals, a whopping 30% rise on q1, already outpacing all funding raised during the entirety of 2020.

more in tech: microsoft and google go to war | more firms hit in solarwinds attack | survey: how’s your i.t. firewall holding up? | survey: accountants’ favorite anti-virus apps | salt: the small business disaster waiting to happen | hard drives could hold 10x more

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annual global fintech funding has reached $54.42 billion this year. in q2, fintechs dominated global startup funding in all sectors: one dollar out of every $5 raised in q2 went to a fintech.

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remote work is here to stay

pie chart
the next normal arrives: fully 81% of accounting firms see an increase in remote work even as they re-open their offices. (convergence consulting)

as accounting firms re-open, they’re competing for talent on work-from-home plans and reaping windfalls with smaller offices.

by 卡塔尔世界杯常规比赛时间

no doubt about it, a capacity to work remotely has saved the tax and accounting business.

the question now is: what will tomorrow’s tax and accounting offices look like, post-pandemic?

more:  learning how to hire amid covid | survey: cpa firms reject staff vaccine mandates   |  covid-19 changed what we watch and how  |  why remote workers need retreats   | steven braunstein: new covid strategies for staff recruiting and retention   |  josh fisher: battling for staffers  |  “the new normal” will never be normal again   |  how and when to leverage ziprecruiter, indeed, and social media  |  how covid rewrites the rules for recruiting  |  staffing shortage? look at your business model

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in fact, the increase in remote work is likely to continue and expand in the future. read more →

closing the tax gap: more data, more compliance?

tax professionals should brace for a new wave of information reporting.

misreporting by income category: the staggering difference in the tax gaps left by workers with income subject to information reporting and withholding compared to those with income subject to little or no information reporting – less than $10 billion compared with more than $150 billion. (via u.s. department of treasury)

by 卡塔尔世界杯常规比赛时间 research

here’s something the irs has discovered and many tax preparers can probably confirm: while roughly 99 percent of taxes due on wages are paid to the irs, compliance on less visible sources of income is estimated to be just 45 percent.

more: how charlatans, creeps, and ghosts plague the tax profession | grappling with the tax gap | wealthiest taxpayers cheat irs out of $400 billion a year | 173% increase in irs correspondence backlog | hunker down: the irs backlog isn’t going away anytime soon | the irs studebaker bomb | imagine irs ‘concierge’ service. just imagine. | irs has recruiting problems, too
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yes, it seems that americans are more willing to pay what they owe when the irs knows they owe it.
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survey: cpa firms reject staff vaccine mandates

post-pandemic: staffing tops lists of concerns, remote work here to stay. 

some 37% of cpas say their firms and companies will be making remote work options a permanent fixture. (via vscpa)

by 卡塔尔世界杯常规比赛时间
via the vscpa

the future of the tax, accounting, and finance workplace will include more remote working and hybrid options in the wake of the pandemic — and some office footprints will shrink, according to a new survey of cpas. but vaccinations won’t be required in many offices.

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how charlatans, creeps, and ghosts plague the tax profession

aicpa backs bill to regulate tax practitioners.

by 卡塔尔世界杯常规比赛时间 research

here’s a shocking stat from the treasury department:

“… unregulated preparers who lack the training to provide accurate tax assistance … submit more returns than all other preparers combined.”

more: grappling with the tax gap | wealthiest taxpayers cheat irs out of $400 billion a year | 173% increase in irs correspondence backlog | hunker down: the irs backlog isn’t going away anytime soon | the irs studebaker bomb | imagine irs ‘concierge’ service. just imagine. | irs has recruiting problems, too
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

that sounds like trouble in a number of ways:

  • unwitting taxpayers may be paying more taxes than they owe.
  • taxpayers may be left liable for shoddy or shady tax preparation.
  • the irs may be collecting less than it could.
  • taxpayers may be left in a lurch when the irs has questions but the preparer has disappeared.

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