Tax Stats: June 2012
Our monthly collection of statistics from the world of tax
Our second tax stat for June shows why so much effort at the IRS is going into automated systems -- they bring in more money.
Systems, it seems, are more efficient than people: IRS field audits yield by far the lowest ROI. So it's a good thing the service did only 525,000 of them (for 1040s only), compared to 1.2 million mail audits, and 4.7 million CP 2000 notices.
Automated matching systems at the IRS send out millions of notices of underpayment to taxpayers, and add $6.5 billion annually to the U.S. Treasury -- but they're not as scary as they seem: Fully a third of notices result in no additional tax.
BKR International shares the quickest ways to shrink your business.
The fifth edition of our annual report highlights eight outstanding accounting firm leaders.
Illinois CPA Society holds its 7th annual CPA Day of Service
EFilecabinet CEO Benoy Tamang shares the bad practices that are endangering your firm’s and your clients’ critical information
H&R Block’s Jim Buttonow shares critical facts about the upcoming IRS program
Maureen Schwartz, executive director of the accounting association BKR International, and some of her colleagues describe 10 ways that firms can turn even the newest accountant into a better consultant.
The most influential people in the field of accounting, as chosen by their peers
Leaders in the field pick their favorite efficiency-enhancers
7 questions to help protect your business clients
Every year, Xero recognizes app, bookkeeping and accounting partners that have performed well the previous year. These are the 2016 award winners.