tech and fintech

imagine a fully online irs

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keep imagining. here are a dozen things an irs portal could do for taxpayers and tax pros.

by 卡塔尔世界杯常规比赛时间

as taxpayers and tax practitioners enter yet another tax season of uncertainty and turmoil,  the issue of needed improvements at the irs lingers like a hangover with a viral infection.

more tax: 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 |

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are we facing another year of delays, doubts, and unanswered questions? will paying taxes ever become a smooth and efficient process?

imagine a world in the distant future where a common, ordinary taxpayer can pull a computer from a pocket, link into everybody’s favorite revenue service and… read more →

when tax collectors go digital

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…where will you hide?

collecting taxes upfront: in mexico, tax returns, accounting records, and other tax disclosures must be filed in standard electronic format, driving down the cost of tax collection by 57 percent between 2006 and 2018. meanwhile, revenue generated by audits rose an astonishing 117 percent between 2015 and 2020. (source: better than cash alliance, the u.n., via avalara)

by 卡塔尔世界杯常规比赛时间

accounting professionals may be focused for now on tax season 2022. but right around the corner, a revolution in tax is coming, if the united states can get out of its own way.

ready or not, here it comes: digitized sales tax compliance. the compliance might happen immediately after a transaction or right in the middle of it with a tax agency in between the buyer and the seller.

more: brain drain hobbles irs | 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 |

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it isn’t happening in the u.s. yet, but at least three states are thinking about it, and in 83 other countries, it’s already a thing. in california, florida, and massachusetts, it may soon be a thing. the federal reserve and the business payments coalition have already launched a pilot program to standardize electronic invoicing systems.

digitized tax compliance is far more than the mere e-filing of invoices and tax returns. it’s the movement of paper compliance activities to the cloud, where tax authorities can not only see transactions but, in some countries, actually, get involved in them.

the potential opportunities for accountants, auditors, and tax practitioners are as yet unknown, but where there is change, there is opportunity.

also, danger. read more →

padar joins vc-backed tax fintech for banks

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padar

april tax solutions targets banks and financial institutions.

jody padar, cpa, also known as “the radical cpa,” has exited botkeeper after three years and joined april tax solutions, inc., a start-up that uses an intelligent tax platform to automate the filing process and embed tax prep into broader financial applications.

padar is head of tax and evangelism. april is backed by $10 million in seed capital from a number of venture capital funds.

“it’s time to bring taxes into the digital age,” says padar. “i’m excited to lead the charge and help the next generation of consumers and accounting professionals have a better relationship with tax filings.”

april says it partners directly with banks and financial institutions to do away with the silos traditionally existing between tax and financial planning. the company is rolling out in the first half of 2022 to select customers of leading fintech partners in time to file their taxes for this season.

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the disruptors: how to scale with new padgett coo amanda aguillard

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watch the video or listen to the podcast.

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“process, process, process” and other lessons in scaling an accounting business.

with liz farr

to beat the staffing shortage, tax and accounting firms will need to rank technology skills as important as accounting skills, padgett coo amanda aguillard says in this episode of the disruptors, a new 卡塔尔世界杯常规比赛时间 series of conversations between special contributor liz farr and leading change-makers in the profession. this is the first of the series.

more video: eat that frog: asking for a prospect meeting | growing revenue through client service | lease accounting is about to get very real | google ads for new tax season clients | exclusive: eisner ceo charly weinstein explains the private equity deal  | flash briefing: a “call to arms” after private equity deal | four ways to beat the staffing shortage, with pasha malik

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“we will have to be creative about who we hire,” aguillard says. “knowledge of accounting is important, but it’s not the only thing… being tech-curious is just as important.”

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