In the News - April 14, 2025

With the US Tax Day tomorrow, many are wrapping up one of the busiest times of the year. But even as the deadline looms, the accounting industry continues to shift. This week’s updates include automatic tax relief for disaster-affected areas, new salary insights across firm tiers, product updates from Xero and QuickBooks Online, and a look at the future of Client Advisory Services. Here's what you need to know.

IRS News

IRS Grants Automatic Disaster Area Tax Extensions for 2025 Filing Season (The Woodard Report)

The IRS has provided automatic tax filing and payment extensions to individuals and businesses in federally declared disaster areas. Taxpayers affected by severe storms, wildfires, and other disasters will now receive relief without the need to contact the IRS. This change is intended to streamline support during recovery periods. Read more...

IRS Probationary Employees Remain on Leave Amid Court Decisions (CPA Practice Advisor)

Thousands of IRS probationary employees, initially laid off in February and later reinstated, were scheduled to return to work on April 14. However, following recent court rulings, the IRS has paused these plans, instructing affected employees to remain on paid administrative leave until further notice. This development is part of broader workforce reductions, including a phased reduction in force (RIF) that may impact up to 25% of the agency's staff. Read more...

President Signs Bill Blocking IRS Crypto Tax Reporting Rule (CPA Practice Advisor)

A new bill signed into law has blocked an IRS rule that would have required more extensive tax reporting for cryptocurrency transactions. The move adds complexity for firms advising clients in the digital asset space, especially as the regulatory landscape remains in flux. Read more...

Accounting News

Woodard Members Named 2025 Up-N-Comer ProAdvisors (The Woodard Report)

Several Woodard members were honored as 2025 Up-N-Comer ProAdvisors by Insightful Accountant. The recognition celebrates rising stars who are making meaningful contributions to the profession, often through innovation, education, and client success. Read more...

Tax and Audit Salary Insights Across Firm Sizes (Going Concern)

A new salary roundup from Going Concern breaks down compensation data for tax and audit professionals across Top 25, Top 300, and regional firms. The report highlights growing disparities in pay and offers a benchmark for professionals evaluating career options or negotiating raises. Read more...

Baker Tilly and Moss Adams Reportedly Exploring Merger (CPA Practice Advisor)

Reports suggest that Baker Tilly and Moss Adams may be in merger discussions. If completed, the move would create a formidable player in the mid-market accounting landscape, combining regional strength with national capabilities. Read more...

Technology News

QuickBooks Online Accountant Adds New Client Number Field (Insightful Accountant)

Intuit has released a new client number field in QuickBooks Online Accountant, giving firms better control over client organization and internal tracking. The update reflects ongoing efforts to improve practice management capabilities for accounting professionals. Read more...

Xero Adds PayTo Payment Options for Australian Users (Xero Blog)

Xero has introduced PayTo functionality for users in Australia, enabling real-time bank-to-bank transfers through the New Payments Platform (NPP). The update allows businesses to manage payments more efficiently, reduce failed transactions, and improve cash flow visibility. Read more...

Other Interesting Things We Found

Podcast: Grow or Stay Small—Finding Your Firm’s Sweet Spot (The Woodard Report)

In Episode 117 of The Woodard Report Podcast, Heather Satterley hosts a discussion with Dave Olsen and Shane Rowley from Nimbl, exploring how firms can determine the optimal size for long-term success. The episode covers strategies for balancing firm growth, leadership readiness, and personal vision. Read more...

Client Advisory Services Entering a New Era (CPA.com)

According to CPA.com, Client Advisory Services (CAS) are transitioning into a new phase defined by deeper client collaboration, data integration, and value-based pricing. The shift represents both a challenge and an opportunity for firms looking to expand strategic offerings. Read more...

That wraps up this week’s In the News update. We’ll return next week with more top stories shaping the accounting profession and its future.