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Isaac M. O'Bannon

Managing Editor

isaac.obannon@cpapracticeadvisor.com

Isaac M. O'Bannon is the managing editor and digital content manager for CPA Practice Advisor (www.CPAPracticeAdvisor.com), drawing on two decades of experience covering the areas of professional accounting, taxation, business productivity and consumer technologies. Prior to CPA Practice Advisor, O'Bannon was a consultant at firms in San Francisco, Denver and Tulsa, serving clients that included Logitech, Polycom, Hilti, Microsoft, the Stanford Research Institute, the University of Oklahoma's College of Engineering and other technology leaders. He is a U.S. Navy veteran. Email: isaac.obannon - @ - cpapracticeadvisor.com

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Accounting

The Votes Are In: 2022 Readers' Choice Awards

Now in their 18th year, the CPA Practice Advisor Readers' Choice Awards give our readers the chance to spotlight the technologies they most respect and trust to provide client services, to manage their firms, and to help their clients run ...

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Benefits

April 1 is Last Day for New Retirees to Take RMDs

For retirees who turned 72 during the last half of 2021, in most cases, Friday, April 1, 2022, is the last day to begin receiving payments from Individual Retirement Arrangements (IRAs), 401(k)s and similar workplace retirement plans.

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Income Tax

Why is Your Tax Refund Taking So Long? Here Are Some Possibilities

Many different factors can affect the timing of a refund after the IRS receives a return. A manual review may be necessary when a return has errors, is incomplete or is affected by identity theft or fraud.

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Benefits

Half of Remote Professionals Say They Would Quit if Required to Go Back to Office

Return-to-office plans may lead to more resignations, separate research shows. In a survey of more than 1,000 professionals, half of respondents currently working from home (50%) would look for a new job that offers remote options if ...

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Small Business

Retail Sales Forecast to Grow 6 to 8 Percent in 2022

NRF forecasts that 2022 retail sales will total between $4.86 trillion and $4.95 trillion. The numbers exclude automobile dealers, gasoline stations and restaurants. Non-store and online sales year-over-year, which are included in the total figure ...

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Spoils of War? Ukraine Says No Taxes Due on Captured Russian Tanks

"Have you captured a Russian tank or armored personnel carrier and are worried about how to declare it? Keep calm and continue to defend the Motherland! There is no need to declare the captured Russian tanks and other equipment, because the cost of ..."

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Benefits

Gig Workers Need to Prepare for Income Tax Surprise

Will the IRS find out if you don't report your income? This is the question everyone wants to ask, but tax professionals don't want to answer because of ethical or liability concerns.

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Accounting

Internal Auditors Say Pandemic Makes Fraud Prevention More Difficult

Respondents said remote working has made it more difficult for 43 percent – and somewhat more difficult for 46 percent – to prevent fraud within their organization. With more than 70 percent of those surveyed sharing that the ...

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IRS Starts Accepting Tax Returns - 2022 Estimated Tax Refund Dates

The Internal Revenue Service kicked off the 2022 tax filing season on January 24 with an urgent reminder to taxpayers to take extra precautions this year to file an accurate tax return electronically to help speed refunds.

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Technology

Tax Pros Being Targeted in New Phishing Scam

The latest phishing email uses the IRS logo and a variety of subject lines such as "Action Required: Your account has now been put on hold.” The IRS has observed similar bogus emails that claim to be from a “tax preparation application provider.”

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Technology

IRS to Stop Requiring Facial Recognition Technology for Online Accounts

This action by the IRS to move away from facial recognition comes after some discomfort by taxpayers at having a third-party technology provider managing the service.

Form 1040 2021

IRS Suspends Sending Most Notices Due to Backlog and Errors

These automatic notices have been temporarily stopped until the backlog is worked through. The IRS will continue to assess the inventory of prior year returns to determine the appropriate time to resume the notices.