Now is a Good Time to Re-Evaluate Clients

Many CPAs are still catching their breath after what may arguably be one of the more difficult tax seasons. It goes without saying that the Tax Cuts and Jobs Act (TCJA) which passed into law on December 22, 2017, (Pub. L. 115–97) was a "game changer" for the profession. Tax professionals have been tasked not only with the steep learning curve as it relates to the provisions of the new law, but also with the added burden of having to educate clients on the law’s nuances that were of impact to their own unique tax situations.

The Cyber-Saga Threat Continues

Like most CPAs, we have been watching the news unfold around the recent Wolters Kluwer (CCH) outage that began on Monday, May 6. According to their public statements, when the company discovered some "anomalies" in certain software platforms and applications, they proactively shut down their software platforms and applications and notified law enforcement.

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Latest Articles

  • 13 Nov

    How to respond to subpoenas

    CPA firms are often uncertain about whether or how to respond to a subpoena, as they also need to comply with a number of rules and regulations that are intended to protect client confidentiality. The following Q&A focuses on understanding the nature of subpoenas and how CPA firms can ... read more

  • 13 Nov

    The New 'Hosting Services' Interpretation

    Under the new "Hosting Services" ethics interpretation in the AICPA's Code of Professional Conduct (ET §1.295.143), effective July 1, 2019, CPA independence is impaired by taking responsibility for hosting a client's data or records. As such, if the only way that the client can access its... read more

  • 05 Nov

    FASB ASC 606 – Don’t Get Revenue Wrecked

    by Duncan B. Will, CPA/ABV/CFF, CFE

    Of course, you're relieved and exhausted – in addition to the traditional tax and accounting services you perform for your clients as their accountant and trusted adviser, you've helped them address the new tax law, consulted on a... read more