IRS offers penalty relief for late-filed foreign gift forms
The Internal Revenue Service has decided to stop automatically levying penalties when a taxpayer files a form reporting foreign gifts too late.
XSBI: Are interest rate or income tax cuts benefiting small businesses yet?
Cuts to official interest rates and income taxes have begun in some countries, with some hoping the changes would help boost consumer spending. Unfortunately, this doesn’t seem to be the case yet for small businesses, according to the latest Xero Small Business Insights (XSBI) data. What cuts have happened? Central banks have been busy in …
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EY resigns from Super Micro audit over ‘integrity’
The resignation comes after Department of Justice launched a probe into an ex-employee’s claims that Super Micro violated accounting rules.
FASB proposes to clarify guidance on acquirer in business combinations
The proposed ASU would set more consistent requirements for determining the acquirer when a transaction is achieved by exchanging equity interests.
Bonadio to merge in Cover & Rossiter
The Top 50 Firm is expanding into Delaware with its latest M&A deal.
Intuit rolls out new features and capacities
Intuit announced new features and capacities, many of them within its QuickBooks line of products.
Xero awards $460K to ‘Beautiful Businesses’
Xero announced the winners of its annual Beautiful Business Fund competition, of which four were based in the US.
Introducing Xero Mentor Match: A mentoring program for industry partners
There is a growing movement in the accounting industry towards new services and cloud-based tools, in large part due to the talent shortage crisis being felt across the US and Canada. The number of US accountants decreased by around 17% in the last couple of years, and this talent shortage crisis is causing pressure to …
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We’re ready to support you with Making Tax Digital for Income Tax
As outlined in the autumn Budget, the UK government is committed to delivering Making Tax Digital (MTD) for income tax Self Assessment, which will be mandated in April 2026. We’re pleased that this gives accountants and bookkeepers more certainty on timings as they prepare for this deadline. At Xero, we’re ready for MTD for IT …
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Celebrating the UK winners of the Xero Beautiful Business Fund 2024
Supporting and championing small businesses is at the core of our purpose, which is why we launched the Xero Beautiful Business Fund last year. This initiative provides more than £350,000 in funding globally to our small business customers in the UK, South Africa, Australia, New Zealand, Singapore, Canada and the US. There were 28 winners …
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