Business, Taxes and Accounting

Tax Relief CPA Alerts Delinquent Taxpayers as IRS Intensifies Collection Efforts and Audit Activities for 2024

LOS ANGELES, Calif. -- James Cha, a CPA and a Certified Tax Resolution Specialist from Ace Plus Tax Resolution, alerts that the IRS is ramping up collections and tax audits in 2024, and urges taxpayers to act with tax relief strategies.

:: IRS Increasing Audits, Collections, and Tax Levies in 2024

For years, the IRS paused many collection actions due to COVID-19, halting notices from its Automated Collection System. But in 2024, that reprieve ends as the agency ramps up collections and audits with increased funding.

If you haven't received IRS notices recently about unfiled returns or unpaid taxes, expect that to change. The IRS is hiring more auditors and resuming collection notices aggressively. Be prepared for stepped-up IRS collections efforts in 2024.

:: 2024 IRS Hiring Increase and Enforcement Efforts to Surge with New Funding

The Inflation Reduction Act provided $80 billion for the IRS to modernize and enhance tax enforcement. With the funds, the agency plans to hire thousands of new auditors, revenue officers, and personnel. The hiring blitz is already underway.

James states, "The IRS currently has about 14,000 enforcement personnel but aims to rapidly expand its workforce, with a 55% auditor increase targeted for 2024 alone according to watchdog reports."

:: Resumption of IRS Collection Notices

During the COVID-19 pandemic, the IRS took many steps to help taxpayers, including increased tax credits, new tax credits for employers, and halting many collection activities.

As of 2024, the IRS is sending out new collection notices, and it's using Letter LT38 to alert taxpayers about upcoming collection notices. The agency is also sending out demands for payment and notices about unfiled returns.

If you have unpaid taxes or unfiled tax returns, expect to see the following notices soon:

* LT38 - This notice alerts you of your unpaid tax debt and advises you that the agency is going to start sending out notices again. It also informs taxpayers of automatic penalty relief on failure-to-pay penalties for tax years 2020 and 2021 for taxpayers with assessed balances of $100,000 or less for each tax year.

* CP59 - The IRS sends this notice to people with unfiled tax returns. You can respond by filing the enclosed Form 15103 which allows you to explain why you haven't filed or why you're not required to file. If you don't respond, the IRS may issue a substitute for return to assess tax against you more than you were supposed to owe and start the collections process.

* CP3219N - The IRS uses this notice of deficiency to alert people with unfiled returns about a proposed tax assessment made against them. When you receive this notice, you have 90 days (150 days if you're out of the country) to file a tax return, appeal in Tax Court, or agree with the assessment.

* CP504 - The IRS sends this notice to people with unpaid taxes before it seizes their state tax refunds and starts to seize other assets (wages, bank accounts, personal/business property, real estate, etc.). The IRS started sending these notices to people who owe for 2022 and older tax debts.

The IRS is boosting compliance efforts, intensely targeting high-income non-filers. In a Feb 29 announcement, the agency said it issued over 125,000 notices for unfiled 2017-2022 returns. Around 25,000 cases involve taxpayers with over $1 million income, while 100,000 are for those earning $400,000-$1 million.

However, that doesn't mean you don't have to worry if you have unpaid taxes and your income is lower than the above thresholds. Janet Yellen did not deny a claim that 90% of new IRS audits would be on individuals making less than $400,000 annually. Also, The IRS still uses the $200,000 threshold to measure high-income returns since it defined high-income taxpayers as those with a total positive income of $200,000 or more.

As the IRS continues to increase collection efforts through 2024 and beyond, the agency will reach out to millions of taxpayers at all kinds of income levels.

:: Taxpayer Options for Unpaid Taxes

Unpaid taxes can be extremely stressful, but there are options. The IRS offers the following payment plans and relief options to taxpayers who owe back taxes:

* Installment agreement - Take up to the collection expiration date to make monthly payments on your tax debt. Interest and a small late payment penalty will continue to accrue on your account, but the IRS won't pursue any collection actions against you.

* Partial payment installment agreement - A special type of monthly payment plan with a reduced amount where the IRS waives the remaining balance at the end of the payment plan, but you must provide financial disclosure to prove that you're paying the highest monthly payments that you can afford.

* Offer in compromise - You pay the most you can afford to pay based on your income and assets in a lump sum or 24 monthly payments with this one-time settlement. The IRS forgives the remaining balance, but you must stay compliant with certain rules for the next five years or you risk losing the agreement.

* Currently not collectible - To get your account marked as currently not collectible, you must prove to the IRS that you can't afford to pay anything. Then, the IRS pauses all collection actions against you until your finances improve.

There are also other relief programs that may be able to help you. For example, unpaid payroll taxes can lead to severe consequences from the IRS, including the Trust Fund Recovery Penalty, levies, and seizures, but seeking professional tax representation can help resolve these issues and protect your business from the IRS's aggressive collection actions.

Penalty abatement can reduce or eliminate penalties based on reasonable cause or first-time incidents. The IRS's Innocent Spouse program helps taxpayers who are facing tax debt due to actions their spouse took without their knowledge. Additionally, depending on the situation, you may also want to look into tax appeals, OICs based on doubt of equity, or OICs based on effective tax administration.

:: Steps Towards Compliance: Responding to 2024 Notices

IRS Commissioner Danny Werfel said, "The IRS is now taking swift and aggressive action to close the tax gap and has a variety of efforts underway to improve compliance in overlooked areas."

If you receive an LT38, CP59, CP504, or any other IRS collection notice, don't ignore it. Failure to respond will lead to increased penalties and more interest, and it could subject you to involuntary collection actions such as tax liens, wage garnishments, tax levies, and passport revocation or denial.

A tax relief professional can also help you identify the best option and negotiate with the IRS on your behalf.

:: Get Ready for IRS Collections 2024

James advises, "There are numerous tax relief options that are put forth by the government, but individuals and business owners should seek an experienced tax relief specialist who can strategize, take full advantage, and save considerable sums of money for taxpayers."

About Ace Plus Tax Resolution:

Ace Plus Tax Resolution provides customized solutions to taxpayers with IRS and state tax problems. James Cha is a CPA and Certified Tax Resolution Specialist at Ace Plus Tax Resolution, and has been representing his clients and dealing with the IRS for 35 years. His practice is in Los Angeles, yet his clients are all across the nation. Learn more at: https://aceplustaxresolution.com/

Contact him at (213) 600-7388 or James@AcePlusTaxResolution.com for a free consultation.

MULTIMEDIA:

VIDEO Channel (YouTube) - https://tinyurl.com/3tk6vmu6

Related link: https://aceplustaxresolution.com/

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Business, Legal and Law, Petrova Law PLLC, tax resolution law firm, Taxes and Accounting

Tax attorney to millionaires, Allie Petrova, warns about new IRS tactics against taxpayers

GREENSBORO, N.C. -- It is official now: The Internal Revenue Service is going after high-income taxpayers who need to be filing returns, reporting income, and coming to terms with overdue taxes, penalties, and interest, cautions renowned tax attorney and national speaker Allie Petrova, founder of Petrova Law PLLC, a premier tax resolution law firm.

In its effort to improve tax compliance in the high-income categories, the IRS has started mailing out compliance letters to more than 25,000 individuals and families with more than $1 million in income earned during tax years 2017 through 2021. IRS compliance letters have also gone out to over 100,000 high-income earners with incomes between $400,000 and $1 million for the same period.

"Clients typically feel overwhelmed in these situations. It is important to not delay and to consult with a specialized tax attorney right away because deadlines are tight. The last thing you want is to miss an IRS deadline," cautions attorney Petrova, who guides taxpayers with high-stakes tax debt in the six and seven digits. Attorney Petrova works with clients from all over the country.

Curiously enough, this is all low-hanging fruit for the IRS because these cases were flagged based on Forms W-2 and 1099 received by the IRS from third parties. The IRS was unable to match this income data with corresponding returns, which indicated that these high-income earners received income, but did not file tax returns.

What does that mean to you? Make sure you open your incoming mail, particularly from the IRS and the state tax authorities. Muster some courage and open it right away, do not let it linger on your desk or the kitchen counter.

In some cases, the IRS can file on behalf of taxpayers what is called a substitute for return based on income reported on Forms W-2 and 1099s. That leads to exorbitantly high taxable income because the IRS does not take into account all applicable deductions. Then, the taxpayer has the daunting task to prove that this taxable income should be lower.

If a taxpayer hasn't filed tax returns for any of the immediately preceding couple of years, the first action to take would be having these returns prepared and filed after a consultation with a tax attorney.

"When a client came to my office recently, we discovered that her family - she and her husband - owed the IRS a balance of over $600,000. While she expected some balance due to non-routine transactions, the magnitude was a bit of a surprise. IRS balances can snowball with the added interest and penalties," shares tax attorney Allie Petrova.

The IRS has been strengthening its enforcement efforts for a while now. Thanks to Inflation Reduction Act funds, it finally has the budget and funding to be impactful.

Many of Ms. Petrova's clients are high net worth individuals who value privacy, peace of mind, and reliable solutions. "We look at tax issues from every angle and do everything possible to discover the best solution for each client and minimize the tax impact," remarks attorney Petrova.

For more information about tax attorney Allie Petrova, visit: https://www.petrovalaw.com/who-we-are/galina-allie-petrova/

About Petrova Law PLLC:

Petrova Law is a national tax law firm which exclusively represents high-income taxpayers and businesses with high-stakes, high-value tax debt before the IRS and state tax authorities.

For more information about Patrova Law, visit: http://petrovalaw.com/.

Related link: https://www.petrovalaw.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, Legal and Law, Petrova Law PLLC, tax resolution law firm, Taxes and Accounting

Tax attorney to millionaires, Allie Petrova, warns about new IRS tactics against taxpayers

GREENSBORO, N.C. -- It is official now: The Internal Revenue Service is going after high-income taxpayers who need to be filing returns, reporting income, and coming to terms with overdue taxes, penalties, and interest, cautions renowned tax attorney and national speaker Allie Petrova, founder of Petrova Law PLLC, a premier tax resolution law firm.

In its effort to improve tax compliance in the high-income categories, the IRS has started mailing out compliance letters to more than 25,000 individuals and families with more than $1 million in income earned during tax years 2017 through 2021. IRS compliance letters have also gone out to over 100,000 high-income earners with incomes between $400,000 and $1 million for the same period.

"Clients typically feel overwhelmed in these situations. It is important to not delay and to consult with a specialized tax attorney right away because deadlines are tight. The last thing you want is to miss an IRS deadline," cautions attorney Petrova, who guides taxpayers with high-stakes tax debt in the six and seven digits. Attorney Petrova works with clients from all over the country.

Curiously enough, this is all low-hanging fruit for the IRS because these cases were flagged based on Forms W-2 and 1099 received by the IRS from third parties. The IRS was unable to match this income data with corresponding returns, which indicated that these high-income earners received income, but did not file tax returns.

What does that mean to you? Make sure you open your incoming mail, particularly from the IRS and the state tax authorities. Muster some courage and open it right away, do not let it linger on your desk or the kitchen counter.

In some cases, the IRS can file on behalf of taxpayers what is called a substitute for return based on income reported on Forms W-2 and 1099s. That leads to exorbitantly high taxable income because the IRS does not take into account all applicable deductions. Then, the taxpayer has the daunting task to prove that this taxable income should be lower.

If a taxpayer hasn't filed tax returns for any of the immediately preceding couple of years, the first action to take would be having these returns prepared and filed after a consultation with a tax attorney.

"When a client came to my office recently, we discovered that her family - she and her husband - owed the IRS a balance of over $600,000. While she expected some balance due to non-routine transactions, the magnitude was a bit of a surprise. IRS balances can snowball with the added interest and penalties," shares tax attorney Allie Petrova.

The IRS has been strengthening its enforcement efforts for a while now. Thanks to Inflation Reduction Act funds, it finally has the budget and funding to be impactful.

Many of Ms. Petrova's clients are high net worth individuals who value privacy, peace of mind, and reliable solutions. "We look at tax issues from every angle and do everything possible to discover the best solution for each client and minimize the tax impact," remarks attorney Petrova.

For more information about tax attorney Allie Petrova, visit: https://www.petrovalaw.com/who-we-are/galina-allie-petrova/

About Petrova Law PLLC:

Petrova Law is a national tax law firm which exclusively represents high-income taxpayers and businesses with high-stakes, high-value tax debt before the IRS and state tax authorities.

For more information about Patrova Law, visit: http://petrovalaw.com/.

Related link: https://www.petrovalaw.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, IRS Solutions Software, Product Launches, Software, tax software, Taxes and Accounting

IRS Solutions Releases IRS Advance Notice, Innovative Tax Resolution Platform Feature that Tracks and Alerts Users to IRS Transcript Changes

VALENCIA, Calif. -- IRS Solutions® announces the addition of IRS Advance Notice™ (IAN) to the industry's favorite tax resolution platform. The new feature detects and alerts tax professionals to changes on client IRS transcripts, often months in advance of official notification by mail. CPAs, Enrolled Agents, Attorneys and other tax specialists can work less, earn more, and enjoy steady year-round income with IAN.

The Need for IRS Advance Notice

Former IRS agent David Stone and his wife Suzanne founded IRS Solutions in 2011. A practicing Enrolled Agent, company CEO David Stone uses his insider understanding to develop software that effortlessly generates dependable year-round income by meeting the unique needs of tax professionals.

Speaking about IAN, David Stone says, "Merely reacting to IRS maneuvers isn't enough to provide an exceptional level of service. We must be proactive advocates on behalf of our clients. IAN's transcript monitoring provides clients with a sense of security, protecting them against identity theft, fraud, and other potential risks associated with their tax information."

"No more wasting hours manually sifting through complex transcripts and hoping you don't miss anything," adds Suzanne Stone. "IAN automatically spots tiny but critical changes and lets you know they've occurred."

How IRS Advance Notice Works

Included in every IRS Solutions membership at no additional charge, IRS Advance Notice is software that peers into the IRS system for any updates to transcripts; eliminating the need for constant checking and preventing unpleasant surprises. After a simple, one-time setup, users securely connect to the IRS Transcript Delivery System (TDS) through a proprietary and agency-approved integration, then select from a list of IRS transaction codes they want to be notified about.

In addition, weekly transcript updates are fed directly into your client's profile. IAN observes and alerts to changes like:

* Approvals of Form 2848 (Power of Attorney and Declaration of Representative) and Form 8821 (Tax Information Authorization)

* Impending audit

* Federal tax lien

* Installment Agreement modifications

* Offer in Compromise activity

* Passport holds

Annual transcript monitoring with IAN creates an additional year-round revenue stream and cultivates long-term business relationships by positioning tax pros as trusted advisors. Enrolled Agent Emily VanCamp is leading the way.

"We have had lots of interested people signing up for IAN since we started introducing it," she says. "We think we can realistically expect a 20-30% revenue increase by implementing a full-scale IAN plan this year." Promotional materials including website badges and ready-to-use social media images are provided to all members in an exclusive Marketing Toolbox.

About IRS Solutions:

IRS Solutions is specialized tax resolution software that is designed by tax pros for tax pros. With a monthly or yearly subscription, members gain full access to all features; including comprehensive tax resolution tools like IAN, automated analysis with solution recommendations, bulk transcript downloads, and a custom-branded secure client portal.

Learn more at https://www.irssolutions.com/.

Related link: https://www.irssolutions.com/

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Awards and Honors, Business, CalCPA, Taxes and Accounting

KROST Is Ranked Among CalCPA’s Top 150 Firms

PASADENA, Calif. -- KROST CPAs and Consultants has been named one of the Top 150 Firms for 2023-2024 by CalCPA. This award recognizes the firm, with 100% membership. The company is ranked 33rd on the list. The recognition reflects KROST's dedication to professional development and the CalCPA organization. KROST is committed to providing clients with exceptional service and innovative solutions to meet their needs. This award is a testament to unwavering commitment to quality.

"I am thrilled to see KROST being recognized for their hard work and dedication with this prestigious award. Our staff members are actively involved with CalCPA and constantly attending events and webinars that they offer. Being a part of the CalCPA organization offers great opportunities in our profession," said Keith Hamasaki, CPA, KROST Principal & Trustee of the CalCPA Education Foundation.

California Society of Certified Public Accountants (CalCPA) was founded in 1909 and is headquartered in Burlingame, California. It is the nation's largest state accounting organization and serves over 45,000 members statewide in public practice, private industry, education, government, and more. CalCPA, with 14 chapters located throughout the state, is committed to the education and betterment of our members and the profession.

Learn more about KROST's services - https://www.krostcpas.com/services

About KROST:

Established in 1939 in Pasadena, California, KROST is a full-service Certified Public Accounting and Consulting firm serving clients across various industries. Their focus is on recognizing opportunities and creating value for clients by equipping them with the tools to make better business and financial decisions for the future. As trusted advisors, clients depend on KROST to provide timely information, innovative solutions, and result-driven teamwork to ensure success.

Along with providing traditional services, such as Tax, Accounting, and Assurance & Advisory, KROST also provides special services, including Client Accounting Services (CAS), Mergers & Acquisitions, Wealth Management, Tax Specialty Services, and KROST Business Intelligence (KBI).

RELATED LINKS:
https://www.calcpa.org/

Related link: https://www.krostcpas.com/

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Awards and Honors, Business, Software, Taxes and Accounting

EnergyCAP Recognized as a Leader in Energy Management Software by Independent Research Firm

BOALSBURG, Pa. -- EnergyCAP, a leading provider of energy and sustainability enterprise resource planning (ERP) software, proudly announces its prestigious placement in the top right leader quadrant of the Verdantix Green Quadrant: Energy Management Software 2023. This accolade underscores EnergyCAP's commitment to delivering innovative and effective solutions in the energy & sustainability management sector.

Tom Patterson, CEO of EnergyCAP, remarked on this achievement: "Being recognized by Verdantix as a leader in energy management software is a reflection of our team's dedication and the innovative strides we have made in the industry. Our focus has always been on providing solutions that meet and exceed the evolving needs of our clients, and this recognition is a significant milestone that underscores our commitment to advancing energy management and sustainability practices globally."

The Verdantix Green Quadrant report offers a comprehensive analysis of top EMS vendors, providing a detailed, fact-based comparison. EnergyCAP distinguished itself in this rigorous analysis, which included live product demonstrations and a multifaceted evaluation process.

EnergyCAP's responses to the Verdantix questionnaire highlighted the robustness and versatility of its software solution suite.

With over 40 years of experience in energy & utility bill management, EnergyCAP has significantly broadened its product offering following a private equity acquisition in 2021. The company acquired energy management and monitoring provider Wattics in 2022 and launched our financial grade greenhouse gas (GHG) accounting solution, EnergyCAP CarbonHub, in 2023. The suite of solutions - EnergyCAP SmartAnalytics (formerly Wattics), EnergyCAP UtilityManagement, and EnergyCAP CarbonHub - integrate seamlessly to manage energy, cost, and carbon data from the portfolio level down to the asset and device level in a single platform.

EnergyCAP excels in all six functionalities assessed by Verdantix, earning a score above 1.0 in each category. EnergyCAP UtilityManagement is particularly noteworthy, scoring a 2.0 due to advanced automated bill processing, direct utility provider connections, and an intuitive interface for bill and contract visualization. The interaction between EnergyCAP SmartAnalytics and EnergyCAP UtilityManagement offers bill validation and enables energy and cost predictions through a cross-package machine learning algorithm. EnergyCAP also achieves a high score for carbon management, with comprehensive carbon accounting and reporting functionality, supported by a global catalogue of emissions factors.

"EnergyCAP's integration of utility bill data management, real-time energy intelligence, and finance grade carbon accounting into a single platform demonstrates a comprehensive approach to energy, cost, and sustainability data management. These features make it well-suited to address the diverse and evolving needs of energy and sustainability professionals," said Harry Wilson of Verdantix.

"Our placement in the Verdantix Green Quadrant is a reflection of our commitment to excellence and our mission of helping customers better manage their finite resources to create a more sustainable world," added Tom Patterson.

You can download the report from Verdantix here: https://www.verdantix.com/report/green-quadrant-energy-management-software-2023

For more information about EnergyCAP and our suite of energy and sustainability solutions, please visit https://www.energycap.com/.

About EnergyCAP:

EnergyCAP is a leading provider of energy and sustainability enterprise resource planning (ERP), empowering customers with full control and understanding of their energy & sustainability data to reduce their carbon footprint and drive savings. For over forty years, thousands of public and private institutions have been using EnergyCAP to streamline accounting processes, reduce resource consumption, and identify opportunities for sustainable operations. EnergyCAP helps customers who are drowning in paper bills, manual processes, and cumbersome spreadsheets and enables them to execute, analyze, and report on the energy and decarbonization projects needed to create a more sustainable world. Visit Energycap.com to learn more.

Related link: https://www.energycap.com/

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Business, Free News Articles, Funding and Investment, Taxes and Accounting

TMC Emerging Technology Fund LP Invests in Halcyon

SAN DIEGO, Calif. -- The Mortgage Collaborative (TMC), the nation's largest independent cooperative network serving the mortgage industry, announced today that the TMC Emerging Technology Fund LP (the "Fund") has made its latest investment in Halcyon. Halcyon's suite of services provides financial institutions with a 360-degree financial relationship with its customers by affordably expanding their offerings to include investment advisory, IRS transcripts and tax preparation services. Halcyon also introduces an industry-first rep/warranted IRS transcript income validation service at a fraction of the cost and time of any commercially available alternative.

Kirk Donaldson, CEO of Halcyon, said, "Given the immense experience and insight the TMC Emerging Tech Fund and its LPs bring to the table, we are thrilled and honored to secure their investment. Our cutting-edge solutions are designed to address perennial mortgage industry challenges, including lowering closing costs and timeframes while streamlining the borrower experience, which makes us a perfect fit for the Fund."

"We are extremely pleased to add Halcyon to our growing portfolio of mortgage tech leaders. Halcyon has realized significant market traction in a relatively short amount of time and in a difficult market. They count some of our Limited Partners as customers and created a partnership with one of our other portfolio companies, TRAiNED, thus demonstrating the importance of Halcyon to our ecosystem. We are confident, under Kirk's experienced leadership, Halcyon will become one of the star performers of our portfolio," said Sandy Selman, Venture Partner with the Fund.

TMC Emerging Technology Fund LP is a specialist fintech fund explicitly focused on the mortgage industry and immediately adjacent verticals. Its Limited Partners consist of some of the most technology-forward lender members of TMC and help the Fund understand where the industry is headed, what will work, what won't and why. The Fund continues to look for investments in exciting companies that will have the most profound impact on this multi-trillion-dollar industry. For more information, please reach out to info@tmctechfund.com.

About The Mortgage Collaborative:

The Mortgage Collaborative was founded in 2013 by four notable industry leaders and is the nation's largest independent mortgage cooperative network. TMC is singularly focused on creating an environment of collaboration and innovation for small to mid-size mortgage lenders across the country to reduce cost, increase profitability, and better serve the dynamic and changing consumer base in America. For more information, visit http://www.mortgagecollaborative.com/

Related link: https://www.mortgagecollaborative.com

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Awards and Honors, Business, Free News Articles, Taxes and Accounting

INSIDE Public Accounting Ranks KROST Among Top 100 Firms in the US in 2023

PASADENA, Calif. -- INSIDE Public Accounting (IPA) has named KROST CPAs & Consultants Top 100 Firm in 2023. The firm ranked 73rd on the prestigious Top 100 list. KROST along with other recipients of these distinguished awards are highlighted in IPA's monthly newsletter. KROST has been named Top 100 firm for the third year in a row.

"We couldn't be prouder to be recognized by our industry once again. It's a true testament to the hard work and dedication of our incredible team who made this recognition possible. Receiving this award reinforces our commitment to providing quality services to our valued clients," said Jason Melillo, CEO

INSIDE Public Accounting (IPA) is a leader in practice management resources for the public accounting profession that include: the monthly practice management newsletter, the annual national practice management benchmarking reports and corresponding reports and training. IPA has assisted firms across North America grow and thrive since 1987. The one-of-a-kind IPA 500, recognizing the top U.S.-based accounting firms, is the most comprehensive list of North American public accounting firms available.

IPA annually ranks the largest public accounting firms in the U.S. based on participating firm's net revenues - from the multi-billion-dollar U.S.-based Big 4 to the $3.8 million firm. Ranking data is captured through IPA's annual practice management survey and analysis of firms. IPA is the survey leader in data collection for the profession, with more of the largest 600 firms participating than any other survey today and a 92% return rate of participating firms.

Learn more about our services - https://www.krostcpas.com/services

View INSIDE Public Accounting's 2023 Top 100 Rankings - https://insidepublicaccounting.com/top-firms/ipa-500/


For more information about KROST's awards and recognition, visit KROSTCPAs.com/awards

ABOUT KROST CPAS & CONSULTANTS:

KROST is a full-service Certified Public Accounting and Consulting firm headquartered in Pasadena, California. As trusted advisors and industry leaders, clients depend on KROST for timely information, innovative solutions, and results-driven teamwork in the areas of accounting, assurance, business management, consulting, tax, mergers and acquisitions, and wealth management. Our professionals have expertise in a variety of industries. We proudly serve the restaurant, hospitality, manufacturing, real estate, technology, sports & entertainment, financial services, not-for-profits, and grocery industries. We also provide thought leadership on tax laws and the rapidly changing market.

Learn more: https://www.krostcpas.com/

Related link: https://www.krostcpas.com/

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Business, Free News Articles, Taxes and Accounting

Celebrating Growth and Expertise: Matthew Weber Promoted to Principal at KROST

LOS ANGELES, Calif. -- KROST, a leading CPA and consulting firm, is thrilled to announce the promotion of Matthew Weber to the esteemed position of Principal. Matthew's dedication, experience, and exceptional contributions have led to this well-deserved advancement within the organization.

Matthew Weber, who joined KROST's tax practice in July 2015, brings with him over a decade of experience in public accounting, having embarked on his career journey in 2010. His passion for intricate tax matters, strategic financial planning, and client-centered solutions has propelled him to the forefront of the industry. Prior to his current role, Matt served as a Tax Manager at a Big 4 firm in Los Angeles, showcasing his commitment to excellence.

As a Tax Director at KROST, Matt has consistently demonstrated a deep understanding of federal and multi-state tax compliance and consulting for individuals, corporations, and partnerships. His expertise spans across a wide range of industries, including financial services, real estate, entertainment, restaurants, technology, and manufacturing. Matt's insights have played an instrumental role in simplifying complex financial challenges for clients.

CEO, Jason Melillo expressed his excitement about Matt's promotion, stating, "Matt Weber's journey and achievements at KROST exemplify our dedication to providing unparalleled expertise to our clients. As he assumes the role of Principal, we are excited to see him further elevate our services and contribute to the success of our clients."

As Principal, Matt will continue to lead the charge in delivering top-tier client-centered solutions, fostering innovation, and contributing to the continued growth of KROST.

Learn more about Matthew Weber " https://www.krostcpas.com/management/matthew-weber

Learn more about our Tax Services " https://www.krostcpas.com/services/tax-services

For more information or any questions regarding our services, please contact us at: https://www.krostcpas.com/contact

About KROST:

Established in 1939 in Pasadena, California, KROST is a full-service Certified Public Accounting and Consulting firm serving individual and business clients of various sizes and industries. With a team of experienced professionals, KROST is committed to delivering innovative solutions that drive growth and success. Smaller-scale businesses can receive resources that are otherwise not accessible to them through talented professionals who have experience working with multimillion-dollar corporations and individuals.

Related link: https://www.krostcpas.com/

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Business, Free News Articles, Software, Taxes and Accounting

For the Second Year, PitBullTax Named to the 2023 Inc. 5000 List of Fastest Growing Private Companies in America

CORAL SPRINGS, Fla. -- PitBullTax Software, the Nation's Leading Tax Resolution Software for CPAs, EAs and Tax Attorneys has revealed it has won a spot on the 2023 Inc. 5000 list of the fastest growing private companies in America for the second year in a row.

The list represents a one-of-a-kind look at the most successful companies within the economy's most dynamic segment-its independent businesses. Facebook, Chobani, Under Amour, Microsoft, Patagonia, and many other well-known name brands gained their first national exposure as honorees on the Inc. 5000.

The Inc. 5000 class of 2023 represents companies that have driven rapid growth while navigating inflationary pressure, the rising cost of capital and seemingly intractable hiring challenges. "Running a business has only gotten harder since the end of the pandemic," says Inc. editor-in-chief Scott Omelianuk. "To make the Inc. 5000-with the fast growth it requires-is truly an accomplishment. Inc. is thrilled to honor the companies that are building our future."

"We are extremely proud of making the Inc. 5000 list again and have worked very hard to grow this company into what it is today," stated Jaime S. Buchwald, CPA, Co-Founder and CEO. "The honor of making the list for the 2nd year in a row further demonstrates our dominant position in IRS tax resolution software. With the Inflation Reduction Act, Congress gave the IRS $80 billion to hire 87,000 new personnel. IRS enforcement over the next decade will be at an all-time high, and the amount of new resolution cases are going to skyrocket.

"With these prestigious awards, our licensees and potential licensees will now have even greater confidence in PitBullTax to handle this avalanche of new cases, not only as the nation's leader in IRS tax resolution software, but also as a nationally recognized business leader."

Jose Alfaro, Co-Founder and CTO said, "With the success of version 7.0, a quantum leap in automation that seamlessly integrates with major tech companies such as Zoom meetings, and synchronizes with Dropbox, Google Drive, One Drive, Outlook and Google Calendar and SMS communication we continue to over deliver to our licensees. Our 2nd Inc. 5000 honor is made possible by the dedication of our team and loyal licensees."

ABOUT PITBULLTAX SOFTWARE:

PitBullTax Software has licensees in all 50 states that rely on the company's software to prepare their clients' IRS resolution cases and automate their IRS tax resolution businesses. Innovation, efficiency and making its licensees more profitable are the cornerstones of the company's philosophy.

Learn more at: https://www.pitbulltax.com/

Related link: https://www.pitbulltax.com/

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