In the News - October 21, 2024

Now that the 2024 tax filing season is officially over, tons of juicy developments are happening in the accounting space. Get ready for an exciting (and unusually extensive) roundup of the latest IRS updates, major acquisitions in the accounting world, new cloud ERP solutions, and reactions to Intuit's controversial tax ad campaign.

IRS News

IRS Kicks Off PTIN Renewal Season for 2025 CPA Practice Advisor

The IRS has opened the Preparer Tax Identification Number (PTIN) renewal season for 2025, reminding tax professionals to complete their renewal before December 31, 2024, to avoid disruptions. PTINs are necessary for paid tax return preparers, and early renewal is encouraged to ensure uninterrupted services during the tax season. Read more...

IRS Launches 2024 Nationwide Tax Forum Online IRS.gov

The IRS has launched the 2024 Nationwide Tax Forum Online, offering tax professionals access to new online seminars. This initiative aims to provide essential training and resources to assist in staying updated on current tax regulations, ensuring tax preparers are well-prepared for the upcoming tax season. Read more...

Mergers & Acquisitions

MS Consultants Acquires Probity Tax Recovery CPA Practice Advisor

MS Consultants has acquired Probity Tax Recovery, expanding its services and strengthening its position in tax recovery and advisory solutions. This acquisition will enhance MS Consultants' offerings and help in delivering more comprehensive services to clients. Read more...

Citrin Cooperman to Acquire Teplitzky & Co. CPA Practice Advisor

Citrin Cooperman has announced its intention to acquire Teplitzky & Co., a Maryland-based accounting firm. The acquisition is expected to bolster Citrin Cooperman's expertise in the mid-Atlantic region and support growth in specialized advisory services. Read more...

Technology News

Brex Launches Pay for Navan CNBC

Brex has launched "Pay for Navan," a new offering designed to streamline payments for business travel, making the process smoother for both companies and travelers. This solution aims to integrate travel and finance, providing enhanced visibility and control over expenses. Read more...

Acumatica Launches Cloud ERP Solution for Professional Services Firms CPA Practice Advisor

Acumatica has unveiled a new cloud ERP solution tailored for professional services firms. This solution offers enhanced project management and accounting features to streamline operations, helping firms improve productivity and provide better client service. Read more...

Industry Updates

Join Woodard at WorkflowCon 2024 Register Now

Our very own Deb Defer, Director of CAS Services at Woodard Consulting, will be presenting on Wednesday, October 23rd, at 1:30 PM ET about "Bridging the Gap for Transparency in a Workflow." In this session, she will explore how accounting firms can improve communication, accountability, and visibility across their networks. Join Woodard at WorkflowCon 2024, hosted by our friends at Financial Cents, and get practical tools and insights to help make this happen. We'll have a virtual booth, so be sure to drop in and come say hi!

WorkflowCon 2024 Details

• Dates: October 22 & 23, 2024
• 100% virtual event open to all accounting professionals eager to reach operational freedom and profitable growth.
• Key themes include removing yourself from the day-to-day, systematizing your firm, and standardizing processes to empower your team. Register now

QuickBooks ProAdvisor Training Changes Announced Insightful Accountant

Intuit has announced changes to its QuickBooks ProAdvisor training, which will include updated content and new certification options for professionals. These changes aim to help advisors stay current with QuickBooks features and maintain their certification in an evolving software landscape. Read more...

Did You Get a "Your Badge's" Email? Insightful Accountant

Intuit recently sent out emails regarding badge achievements for certified ProAdvisors. The new badges are part of an ongoing effort to recognize and showcase the expertise of ProAdvisors. Be sure to check your inbox to see if you've received this recognition. Read more...

The Woodard Report Podcast

Reimagining DEI with Jina Etienne Woodard Report

In the latest TWR podcast episode, Jina Etienne shares her insights on reimagining Diversity, Equity, and Inclusion (DEI) in accounting. She emphasizes the importance of creating spaces for honest conversation and pushing the boundaries of traditional DEI initiatives in the profession. Read more...

October is Cybersecurity Awareness Month: 5 Steps to Evaluate Your Firm's Security Woodard Report

October is Cybersecurity Awareness Month, and the Woodard Report provides five key steps to evaluate your firm's security posture. From assessing risk to implementing employee training, these tips will help accounting firms stay ahead of cyber threats. Read more...

Intuit TurboTax Live Controversial Ad Coverage

Intuit Responds to Controversial Tax Ad Following NATP Feedback Woodard Report

Following strong feedback from the National Association of Tax Professionals (NATP), Intuit has responded to concerns regarding its recent tax ad campaign. The campaign drew criticism for its portrayal of tax professionals, prompting Intuit to provide clarifications and express continued support for the accounting community. Read more...

AICPA Releases Statement Regarding Intuit Ad Morningstar

The AICPA has issued a statement in response to Intuit's controversial tax ad, reaffirming its support for the CPA and tax practitioner community. The AICPA highlighted the value that tax professionals bring to clients and the importance of upholding the integrity of the profession. Read more...