Is this missing from your firm’s pitch?
Plus: The IRS deadline that could wipe out your client’s refund
Private equity is reshaping firm sales, the IRS is taking a tougher stance (on refunds and big business audits) and fraud examiners are bracing for a busier future. We’ve got what you need to navigate shifting buyer priorities, keep client refunds from slipping away and sidestep career-ending missteps.
AI meets ROI—rainmaker Ruth King shares how accountants can use AI to cut grunt work, spot trends faster and keep the human touch clients trust.
Did you hear about the Kansas CPA who gave his client the middle finger? He pleaded guilty to embezzling more than $400,000 by paying “Middle Finger Ranch,” a fictitious business he created, and used the funds to build a new home.
Let's dive in before that statute of limitations runs out.
Bald truth: What do a barber and a clock have to do with your pricing power? Surprisingly a lot.
Tiered and clear: This accounting firm ditched silver, gold and platinum for peace of mind.
Think you're good with Excel? Check out this new documentary on competitive spreadsheeting. (Yes, it’s a thing.)
Booked for fraud: $1.8 million gone from a medical practice, and no one noticed for years.
Outside money moves on Main Street firms
The rise of private equity and non-CPA investors is changing the M&A game for accounting firms. Traditional metrics like book of business and partner age still matter, but culture fit, tech infrastructure and scalability are taking center stage.
Many non-CPA buyers look at firms not just for current revenues, but for future potential, especially when advisory services are in the mix. The catch? These buyers don't always speak accounting, so firms need to get better at telling their growth story in business terms—not just debits and credits.
Why this matters: Firm leaders looking to sell should sharpen their storytelling skills because buyers aren't just other CPAs. (CPA Practice Advisor)
Refunds expire, and not everyone gets the memo
What your client doesn't know can hurt them—especially when it comes to the IRS refund statute of limitations. Miss that deadline and that refund? Gone forever.
In this episode of the "Tax in Action" podcast, host Jeremy Wells, EA, CPA, breaks down the rules around when taxpayers can claim refunds, how much they can recover and what happens when they file late or amend returns years down the line.
Most tax practitioners are familiar with the refund statute of limitations that gives taxpayers three years from the date the return was filed or two years from the date the tax was paid, but the Hamilton v. United States court case serves as a reality check for anyone who thinks the IRS always plays fair.
Why this matters: Timing is money. Understanding refund deadlines helps you protect your clients' wallets and your own credibility. (Tax in Action)
66%
Percentage of Association of Certified Fraud Examiners (ACFEs) who think fraud will increase over the next two years. (CFO Brew)
- Trying to land a job? Specificity and soft skills beat spray-and-pay
- The IRS steps up to give big biz audits a long-overdue tune-up
- Handing off work boosts profits when you outsource smarter
- Here's a helpful visualization of the OBBB's bumpy implementation timeline
- Hey, hey, hay! How farm life shaped this CAS leader
When 'fessing up beats lawyering up
The IRS's Office of Professional Responsibility (OPR) wants tax pros to know: coming clean might save your career. In its latest alert, the OPR urges CPAs and EAs to consider self-reporting professional misconduct, even though Circular 230 doesn't require it. Why? Because chances are, they're going to find out anyway.
Practitioners who get ahead of the news may benefit from lighter sanctions, synced-up suspension timelines or even deferred discipline agreements (read: second chances without public shame). Bonus points if you've got mitigating evidence and a good attitude.
Why this matters: Nobody enjoys a chat with the IRS, but silence isn't a strategy. Accountants who understand the rules and respond proactively can protect their right to practice and keep things from spiraling into a full-blown career crisis. (Current Federal Tax Developments)
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The Net Gains is written and curated by Janet Berry-Johnson and edited by Bianca Prieto.