Electronic filing continues to show a strong increase, with e-filed tax returns running more than 6 percent ahead of last year, according to the Internal Revenue Service. Out of 61 million returns filed as of March 11, 42.7 million, or nearly 70 percent, were e-filed -- up from 65 percent the previous year. While this percentage is expected decline as April 15 approaches, the IRS expects for the first time to have more than half of all individual tax returns filed electronically. Out of tax returns e-filed so far, the biggest increase is among those who prepare their own returns on a home computer -- 10.6 million returns, up more than 14 percent over results from the same period last year. The jump in computer use coincides with another strong year from the Free File program. The IRS and a consortium of tax software manufacturers offer free services through Free File, which is available at www.irs.gov. More than 3.33 million returns came in through Free File through March 9, which is a 44 percent increase from 2.32 million returns for the same period last year.
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Big Four firm KPMG is eliminating approximately 100 partners in its U.S. audit and assurance practice, after not enough of them accepted an early retirement program.
April 24 -
The Taxpayer Advocacy Panel issued its annual report calling for improvements and greater clarity in notices, forms and publications after a year of turbulence.
April 24 -
The survey window for our "Wealth Magnets" annual ranking of the top CPA financial planners by assets under management is now open.
April 24 -
Plus, Gusto announces 75 new features; Infinite Ties launches new FanCAS-Kit; and other accounting tech news and updates.
April 24 -
CohnReznick opens seventh California office and adds international tax partner; Aprio appoints real estate industry leader; and more news from across the profession.
April 24 -
Tech-forward CPA firms have found that effective vendor vetting requires a systemic and intentional approach grounded not in wishful thinking but concrete business needs.
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