Adrian G. Simmons

Earlier this year, the IRS announced new “Business CAF” numbers and ways to manage taxpayer authorizations at the tax professional entity level (and not just tax professional individual level)

Still working through details, but this has the potential to make things much more practical and efficient for both Tax Professionals and the IRS

Here’s a link to the IRS' press release on the topic and the IRS info page for CAF numbers

“Intuit to lay off over 3,000 employees to refocus on AI” (via TechCrunch)

The memo by CEO Sasan Goodarzi said the layoffs are meant to reduce complexity by simplifying the company’s corporate structure and help it focus on AI efforts, according to Reuters …

Intuit, however, hasn’t been perceived as a beneficiary of the AI boom, with its shares consistently underperforming in the broader S&P 500 over the past 12 months. The company has been caught up in the broader current of worries that traditional software-as-a-service firms will not be able to keep up or compete, as new and upcoming AI products and services threaten to change how software is developed and how it is used.

The Internet … Cloud software … now AI – all changes to the landscape requiring adaptation to keep moving ahead.

From the Maryland Comptroller’s recent e-letter update:

The final budget includes major investments in the agency, including 25 new positions in our Taxpayer Services Division and 28 new positions related to compliance and revenue collection.

Sharing here an invitation to The Profitability Breakthrough conference with Ron Baker, Ed Kless, & Joe Woodard on May 6-8 in Las Vegas:

Join a select group of forward-thinking firm leaders for an intensive, small-group workshop designed to transform the way you approach pricing. Seating is intentionally limited to ensure a high-impact, interactive learning experience! Guided by industry visionaries Ron Baker, Ed Kless, and Joe Woodard, you’ll explore how to shift from outdated models to value-infused pricing strategies that boost revenue, profitability, and client satisfaction. This workshop gives you not just theory, but practical tools you can immediately implement when you return to your office. This experience will equip you to not only refine your pricing model but to elevate the way your firm delivers impact.

For more info check out the conference registration page

Great reminders plus helpful tips on how to communicate more effectively as a leader –

From Axiom Strategic’s podcast by Joey Brannon with Mitch Lomazov: Why Communication Breaks Down & How Communication Protocols Strengthen Leadership Effectiveness

Not an encouraging report: Maryland ranks 49 out of 50 for ‘Best & Worst States to Start a Business’ (via WalletHub)

Was reminded of this Peter Drucker quote recently, from his book The Practice of Management.

“Because the purpose of business is to create a customer, the business enterprise has two–and only two–basic marketing and innovation functions. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.”

And happened across this article tying it into design thinking & marketing personas.

(Bonus article on General Purpose Thinking (GPT) in a chatGPT World.)

The federal employee changes have impacted the IRS too – From TheTaxBook:

As of March 2025, TIGTA found that more than 11,000 IRS employees (out of 103,000 total IRS workforce) were either approved for the DRP or received termination notices during their probationary employment period. These departures represent 11 percent of the IRS’s total workforce and impact certain business units more than others.

Additionally, the separations disproportionately impacted employees in certain positions (e.g., job series). For example, approximately 31 percent of revenue agents separated, while 5 percent of Information Technology management separated. Revenue agents conduct examinations (audits) by reviewing financial records of individual and businesses to verify what is reported. They can work in several IRS business units examining different types of taxpayers.

Additional details available in the full TIGTA report.

Really enjoy the approach, philosophy, and impact of Threshold – headed by two of my business mentors: Ron Baker & Ed Kless. Check out if your service business is in need of transformation: thresholdnow.com/our-philo…

The MACPA State Tax Committee’s analysis of the budget proposed by Governor Moore, including:

• Increase of top tax bracket to 9.7% (actually 10.7% for capital gains)
• Estate exemption reduced from $5m to $2m
• Nominal corporate tax rate decrease from 8.25% to 7.99%
• ‘Combined reporting’ requirement for businesses operating in multi-state (likely resulting in higher tax)
• and more

Read through the analysis and we’ll be keeping our eye on developments that may occur.

An update on Bench.co’s closure on Dec 27 – They were bought 3-days later on Dec 30 by Employer.com

From the press release:

Employer.com, a leader in workforce management and business support solutions, is thrilled to announce the acquisition of Bench Accounting, a premier provider of bookkeeping services and financial solutions for small businesses. … This acquisition reflects Employer.com’s commitment to expanding its portfolio of services and enhancing the value delivered to small business owners. Despite recent headlines concerning Bench’s decision to suspend operations on December 28, we are pleased to reassure Bench customers that Employer.com has been working diligently behind the scenes to ensure a seamless transition.

Some theorize the original investors exited at a loss and the model continues, albeit with a different enthusiasm and spin from the original.

A little jarring to see the news: Bench (one of the outsourced accounting automation pioneers) is closed for business as of 27 Dec 2024

The world, it is a changing, and even some of the automators are shuttering – Interpreting the tea leaves for what that means

BOI injunction lifted -> Now due Jan 13

Quite a yo-yo, this one, but the federal injunction was lifted yesterday and all systems are ‘go’ again for the FinCEN Beneficial Ownership Information filings. Most pre-existing small businesses will have until the extended deadline of Jan 15.

Additional details via this AIPCA article and the Alert on FinCEN’s BOI Homepage

Maryland will allow free federal tax filing in 2025 for 700K taxpayers

The IRS is expanding its program first piloted last year - Happy to see this type of program getting traction & it should be a help to a lot of folks!

(via Baltimore Sun)