In the News—December 2, 2024

It's the first Monday post-Thanksgiving, which means it's Cyber Monday, a day of great deals, including here with Woodard Events LLC. Also, don't forget to protect yourselves from the scammers and remember that accounting is more than just numbers—it should be lots of fun!  

Last chance!

Hurry Up and Take Advantage of Cyber Monday! Woodard Report 

Register by midnight EST to receive a more-than 20% discount for Scaling New Heights 2025, one of the best and biggest accounting technology conferences in the U.S. Learn more... 

IRS news  

9th Annual National Tax Security Awareness Week Kicks Off Today IRS.gov 

We know we mentioned this before, but it bears repeating: Be alert during the holidays as the tax season approaches because identity thieves and tax scams are rampant. The Internal Revenue Service is working with the Security Summit partners to raise awareness with taxpayers and tax professionals about potential scams. Read more...  

IRS Announces 2025 Grants for the Tax Counseling for the Elderly and Volunteer Income Tax Assistance Program IRS.gov

The Internal Revenue Service announced today the award of $53 million in Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) grants to organizations that provide free federal tax return preparation. Read more... 

IRS Provides Transition Relief for Third-Party Settlement Organizations; Form 1099-K Threshold Is $5,000 for Calendar Year 2024 IRS.gov  

The Internal Revenue Service today issued Notice 2024-85, providing transition relief for third-party settlement organizations (TPSOs), also known as payment apps and online marketplaces, regarding transactions during calendar years 2024 and 2025. Read more...  

Technology news  

Xero Updates Responsible Data Use Commitments Xero Blog 

Data is critical to innovation, and the opportunities to put it to work for the benefit of our customers are exciting. With these opportunities comes an obligation to use data responsibly, which we take very seriously. In 2020, we made a company-wide pledge to responsible data use and introduced a set of commitments into our business. Read more...  

Accounting news  

If It’s Not Fun, Rethink Client Service CPA Trendlines 

WealthAbility founder and veteran CPA Tom Wheelwright dives into the essential strategies for client-centric service and relationship-building in accounting. Hosted by Rob Brown, this episode explores how accountants can elevate their client relationships, optimize billing practices, and bring joy back into their work. Read more...  

Lucanet Enhances CFO Platform with GenAI Capabilities CPA Practice Advisor 

Lucanet, a provider of CFO software solutions, is releasing the first of its GenAI capabilities as an addition to its CFO Solution Platform. Read more...  

Mergers and acquisitions  

Private Equity Firm Plots Accountancy Deal Spree The Times 

A London-based private equity firm is planning to snap up smaller regional accountants and merge their operations amid a wave of takeovers of professional services firms. Read more...  

Other interesting things we found  

Don't Forget About the Top 50 CAS Practice Awards 2025 Woodard Report 

The Woodard^®️ Top 50 CAS Practice Awards are returning for their third year, committed to honoring the very best in CAS practices. These awards honor practices and firms that demonstrate excellence in being intentional, specialized, efficient, effective, profitable, and scalable. Read more...  

Super Micro Finds No Evidence of Fraud, Will Replace CFO Accounting Today 

Super Micro Computer Inc. said an independent review of its business found no evidence of misconduct but recommended that the server maker appoint new top financial and legal leadership. Read more...