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In the News – May 28, 2024

Posted by Matt Raebel on May 28, 2024 3:00:00 PM

This week “In the News,” the IRS announced that it has extended its Free File program through 2029 and opened the 2024 Low-Income Communities Bonus Credit Program application portal. In other news, Microsoft has published tips for businesses seeking to leverage generative AI, AuditBoard has been acquired for $3 billion, and Barry Melancon is retiring as AICPA CEO, while Baker Tilly appointed a new Managing Partner of Tax. Keep your finger on the pulse by reading these and the rest of our top stories for the past week.

IRS News

IRS Announces Extension Of Free File Program Through 2029 [IRS]

The IRS has extended its Free File program through 2029, ensuring that taxpayers can continue to file their federal tax returns for free. This initiative aims to make tax filing more accessible and easier for millions of Americans.


Department of Treasury, IRS and Department of Energy Announce Opening of Application Portal for 2024 Program Year of the Low-Income Communities Bonus Credit Program [IRS]

The Department of Treasury, IRS, and Department of Energy have announced the opening of the application portal for the 2024 program year of the Low-Income Communities Bonus Credit Program. This initiative aims to provide tax incentives to promote clean energy projects in low-income communities, supporting both economic growth and environmental sustainability.


What's Next For ERC Refund Claims Pending With The IRS [Forbes]

The Employee Retention Credit (ERC) refund claims are still pending with the IRS, leaving many businesses uncertain about their financial situations. This article delves into the reasons for the delay, potential next steps, and what businesses can do in the meantime.


Technology News

Looking To Leverage Generative AI? Prep For Success With These 4 Tips [Dark Reading]

As businesses look to integrate generative AI into their operations, this article offers four essential tips to ensure success. These tips cover strategic planning, data management, and cybersecurity considerations to maximize the benefits of AI.


Report: Dark Side Of Phishing Protection [The Hacker News]

A new report reveals the darker side of phishing protection technologies, including potential risks and vulnerabilities. It emphasizes the need for comprehensive security strategies to effectively combat phishing threats.


Tech News: AuditBoard Acquired For $3 Billion [Accounting Today]

AuditBoard, a leading cloud-based platform for audit, risk, and compliance management, has been acquired for $3 billion. This acquisition is expected to enhance the company's capabilities and market reach.


Accounting News

New Small Business Grants Available From Intuit QuickBooks [Intuit]

Intuit QuickBooks has announced new grants for small businesses, providing financial support to help them grow and thrive. The grants are part of Intuit's ongoing efforts to support the small business community.


Just Shy Of His 30th Anniversary, Barry Melancon Is Retiring As AICPA CEO [Going Concern]

Barry Melancon, the long-serving CEO of the AICPA, is set to retire just before his 30th anniversary. His tenure has seen significant changes and growth within the organization, and his departure marks the end of an era.


On The Move: Baker Tilly Appoints Next MP Of Tax [Accounting Today]

Baker Tilly has announced the appointment of its next Managing Partner of Tax, highlighting a strategic leadership change aimed at driving growth and innovation within the firm.


Topics: Finger on the Pulse


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