In the News – February 12, 2024

In this week's edition of "In the News" for The Woodard Report, we’ve curated select articles to help keep you informed about important news and updates in the accounting world. From IRS warnings about new scams targeting tax professionals and updates on tax credits to the latest in accounting technology with QuickBooks Online's new Tax Tab. Additionally, explore strategic industry movements, such as HiLine's acquisition of Calculate.

IRS News

IRS Warns Tax Professionals of EFIN Scam Email; Special Webinars Offered Next Week

The IRS alerts tax professionals to a new EFIN (Electronic Filing Identification Number) scam circulating via email, urging vigilance and caution. To combat this and other security threats, the IRS is hosting special webinars next week aimed at educating tax professionals on safeguarding their practices. Read more...

Treasury, IRS Update Frequently Asked Questions for the Premium Tax Credit

The Treasury and IRS have recently updated the FAQ section for the Premium Tax Credit, providing clearer guidance and support for taxpayers looking to understand and apply for this benefit. This update aims to streamline the process and ensure taxpayers can easily access the credits they're entitled to. Read more...

Technology News

Intuit Opens New Atlanta Office

Intuit has expanded its footprint with the opening of a new office in Atlanta, signaling a commitment to growth and innovation. This strategic move is expected to bolster Intuit's collaborative efforts and enhance its service offerings to meet the evolving needs of its customers. Read more...

Have You Seen the Tax Tab in QuickBooks Online?

Insightful Accountant highlights a significant update in QuickBooks Online: the introduction of a dedicated Tax Tab. This new feature aims to streamline tax preparation and filing processes for users, offering a more integrated and efficient approach to managing tax-related tasks within the platform. Read more...

Relay Announces New Partner Program

Relay has introduced a new Partner Program specifically designed for accountants and bookkeepers, offering up to $300 in cash rewards for each client referral to its business banking platform. This initiative aims to enhance the advisory role of professionals by providing financial incentives, a dedicated Partner Portal for efficient client management, and an Advisor Directory to connect with potential clients. The program also includes an Ambassador Sponsorship to support advisors in educating their communities about Relay's banking solutions. With this strategic move, Relay reinforces its commitment to solving common industry challenges and fostering stronger advisor-client relationships, while also facilitating a seamless onboarding experience for new clients. Read more…

Accounting News

HiLine Acquires Calculate to Expand Outsourced Financial Operations Offering for Growth-Minded Companies

PR Newswire reports on HiLine's recent acquisition of Calculate, marking a significant expansion of HiLine's outsourced financial operations services. This strategic move is designed to enhance support for growth-oriented companies, providing them with comprehensive financial management solutions to fuel their expansion. Read more...

Black History Month Survey Reveals 5 Insights

In honor of Black History Month, a recent survey conducted by Intuit has unveiled five key insights into the experiences and perspectives of Black professionals in the accounting industry. These findings shed light on the challenges and opportunities facing Black accountants today, highlighting the importance of diversity and inclusion within the profession. Read more...

Other Interesting Things We Found

How Early Adopter Companies Are Thinking About the Apple Vision Pro

Harvard Business Review explores the mindset of early adopter companies regarding the Apple Vision Pro, delving into how this cutting-edge technology is poised to transform business operations, customer interactions, and workplace dynamics. This article offers a glimpse into the potential applications and implications of augmented reality in the corporate world. Read more...

Wrap up

The Woodard Report remains committed to providing you with the insights and analysis needed to stay up to date on news and topics that impact your practice and clients. Join us next week for more updates and insights that keep you informed and prepared for the future.