In The News—May 6, 2024

This week, in The News, we’ve got a wide range of updates and insights, including tech insights from small businesses, advisories and new resources from the IRS, and an update on the FTC’s noncompete ban. We also published a podcast and an article looking at the FTC’s recent noncompete ban, as well as other insightful stories from last week—check out The Woodard Report to read the rest of our content from last week. Otherwise, read on to see our top stories from last week.

The Woodard Report

TWR Podcast Episode 85: Can’t Compete With the FTC [The Woodard Report]

In this episode of Woodard Report Podcast, Joe Woodard and Heather Satterley discuss the Federal Trade Commission's (FTC) new rule that seeks to ban non-compete clauses across the U.S. economy. Read more…

IRS Updates

National Small Business Week: IRS.gov Offers One-Stop Shop for Small Business Tax Resources [IRS.gov]

During National Small Business Week, the IRS has launched a comprehensive tax resource guide on IRS.gov to assist small business owners. The platform provides tools, tips, and direct links to help businesses understand their tax obligations. Read more...

National Small Business Week: IRS Warns Entrepreneurs to Take Precautions on Data Security [IRS.gov]

The IRS is alerting entrepreneurs about the importance of data security during National Small Business Week. They provide guidelines to safeguard business data, emphasizing the protection of personal and customer information against cyber threats. Read more...

IRS Releases Final Guidance for Certain Clean Vehicle Credits Under the Inflation Reduction Act [IRS.gov]

The IRS has published the final guidance for clean vehicle credits as defined in the Inflation Reduction Act, aiming to support businesses and individuals investing in green energy. The guidance clarifies eligibility and credit amounts. Read more...

Accounting and Business News

Nominations Open for AFWA's Women Who Count Awards [Accounting Today]

The Accounting & Financial Women's Alliance is now accepting nominations for the "Women Who Count Awards," which recognize outstanding contributions by women in the field of accounting. Read more...

Tax Filing Season Statistics Through April 19, 2024 [Accounting Today]

Accounting Today has released detailed statistics on the 2024 tax filing season, offering a comprehensive look at trends, taxpayer behaviors, and processing updates. Read more...

S-Corp Clients Beware [CPA Trendlines]

CPA Trendlines issues a cautionary tale for S-Corp clients, advising them on potential pitfalls and common missteps that could lead to financial or legal troubles. Read more...

Insightful Accountant's Top 100 ProAdvisors for 2024 [Insightful Accountants]

Insightful Accountant has announced its list of the Top 100 ProAdvisors for 2024. This prestigious recognition highlights the most influential and innovative accounting professionals who have made significant contributions to the industry, excelling in areas like client service, community engagement, and technological proficiency. Read more...

Regulation News

Ryan Sues FTC Over Non-Compete Rule [Accounting Today]

Ryan LLC has filed a lawsuit against the FTC in response to new regulations on non-compete clauses, arguing that such rules negatively impact businesses by limiting contractual freedoms. Read more...

Tech News

Small Business Success Month Survey Findings [Insightful Accountant]

A recent survey during Small Business Success Month reveals significant insights on the adoption and impact of technology among small businesses, highlighting trends in tech usage and business outcomes. Read more...