tech and fintech

your sales tax headaches are only just beginning

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watch the video or listen to the podcast.

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with rick telberg
for 卡塔尔世界杯常规比赛时间

the changes wrought by covid are rolling through the business world, pushing many of them into online commerce and cross-border sales and, ultimately, into new and nforeseen tax problems, according to liz armbruester, senior vp of global compliance at avalara.

more: six fixable problems at the irs   |  irs under covid: heroes or goats?   |  irs loves e-filing. so why the barriers?  |  two big (and obvious) ways irs could work with practitioners   |  eight ways to charm a client | plug small leaks before they become big floods | you’re only as good as your last screw-up | four issues with ‘quick’ tax questions | when to pick up the phone this tax season | these five procedures will simplify your tax season | 11 steps to better client tax instructions
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

from her perch, see tracks how governments at all levels and across the globe are capitalizing on the rapidly digitizing business world to automatically collect taxes due. in the u.s., states and localities are gearing up to crack down on the new sources of revenues, leaving many businesses and their accountants still ill-equipped to handle the new rules, armbruester tells rick telberg for 卡塔尔世界杯常规比赛时间.

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trullion lands $15 million in series a

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ai-powered fintech to deploy funds for product development and marketing.

trullion, which promises to help automate lease accounting, says it has closed $15 million in series a funding, co-led by aleph and third point ventures, with participation from existing investors greycroft and verissimo ventures, and seasoned financial executives including jody padar, “the radical cpa” at 卡塔尔世界杯常规比赛时间.

see: trullion: new a.i. startup targets rev rec, lease accounting

“accounting errors due to incorrect data entry, omissions, and compliance oversights can cost organizations millions of dollars and harm their brand reputations, yet it’s still all too commonplace for manual, laborious practices to pervade,” says isaac heller, co-founder, and ceo of trullion.

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new insights on emerging technologies and people issues

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fresh research from the hawaii accounting research conference.

by donny c. shimamoto, cpa, citp, cgma

this year’s hawaii accounting research conference provided some insights into the use of emerging technologies in audit and internal control, as well as on people issues like creativity and performance incentives. held every year in january at the university of hawaii at manoa, this conference draws accounting researchers from around the world to share their research findings with a broader academic audience (physical and virtual).

i started attending this conference in 2021 and gained some interesting insights into research being conducted that could shape some of what we do as accounting professionals. this year, i also helped moderate a practitioner panel featuring two past aicpa chairs, tracey golden and kimberly ellison-taylor, and a fellow cpa.citp and tax expert lauren kovar, to share with attendees how they could make their research more relevant to practice.

if you’d like to see the panel discussion, you can watch the recording:

i was only able to attend one day of the conference, but from just the one day, i got some good takeaways from several of the sessions. i’ve outlined these sessions and my key takeaways below. you can also click on any of the links to read the full paper that shares the research study and findings. read more →

irs loves e-filing. so why the barriers?

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irs buried in paper: even with 91 percent of returns e-filed, that leaves more than 33 million paper returns pouring into the irs annually.

what to do with clients who insist on paper?

by 卡塔尔世界杯常规比赛时间

e-filing may be the best thing to happen to the irs—and tax preparers—since the invention of paper and red tape.

  • it beats paper on cost—just 36 cents to process, vs. $15.21.
  • it beats paper on speed—a couple of hours from sending to acceptance, vs. days to mail, more days to open, more days in storage, more days to transcribe, and maybe months more to process.
  • it beats paper on accuracy—no need for transcription.
  • it beats paper on convenience—taxpayers can e-file in minutes from a desktop; irs can store and move e-files easily and instantly.
  • it beats paper on inconvenience—e-filing allows continuous processing regardless of weather, pandemics, etc.

more tax: two big (and obvious) ways irs could work with practitioners  | imagine a fully online irs | the real cost of interstate sales tax | irs at death’s door? | beyond tax prep: the big cha-ching! | crisis at the irs | the irs’s 10 biggest problems | fear and loathing for tax season ’22 |  padar joins vc-backed tax fintech for banks |  covid chokes an already crippled irs | tax regs for the metaverse | 10 steps to a superior tax department | accountants critical of competitor price-cutting |  automate busy season with apps you already use | sales & use tax costs are higher than anyone thought | survey: nobody loves the wayfair decision | busy season forecast: more chaos  | a woman named wanda leaves an ira nightmare  | are you under-pricing your client accounting services?  | your best advice: get smart, get tech, get moving | worries for small business clients |

goprocpa.compro members: log in here or 2022世界杯足球排名 today.

so why does the irs still have barriers limiting e-filing? read more →

top issues for 2022: talent, time, and transformation

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businessman pressing a "future" concept buttonplanning today for still being in business 10 years from now.

submitted by the center for accounting transformation
improvetheworld.net

the center for accounting transformation’s public accounting advisory board met last quarter to discuss some of the biggest issues facing the public accounting industry.

the strongest themes revealed during the meeting is that there simply aren’t enough accountants to handle the growing workloads; innovation and automation must be implemented faster to streamline processes and free up accountants to increase advisory services; and time, as the scarcest of resources, is the primary commodity for any professional, but is especially true for accountants.

during the discussion, board members considered causes and possible solutions, which firms can use to guide several strategic decisions in 2022. read more →