Tax
Intuit CFO Sandeep Aujla, speaking at the Goldman Sachs Communacopia and Technology Conference, admitted the company has lost market share in its consumer tax business in recent years. He outlined a plan to build a comprehensive, end-to-end consumer platform, a strategy that began with the $8.1 billion acquisition of Credit Karma in 2020 and advanced when Credit Karma was placed under the same leadership as TurboTax. Aujla said Intuit aims to rebuild the DIY tax funnel to retake share, focus on growing new-to-the-franchise customers, and consider free or lower-cost tax services to reach price-sensitive consumers. He also highlighted cross-selling opportunities through Credit Karma's checking accounts and QuickBooks Free and QuickBooks Lite. Aujla noted stable macroeconomic conditions for small and midsize businesses, with cash reserves and hours worked trending up. Intuit's full-year revenue grew 14% to $21.4 billion for the fiscal year ended July 31, while the company cut 17% of its workforce, laying off about 3,000 people, according to Reuters.
Most CFOs and finance teams still treat tax planning as a seasonal task: busy with growth, cash flow, and forecasting all year, only to rush through tax matters a few weeks before deadlines. However, the real cost of waiting is not penalties, but missed tax credits, cash recoveries delayed by months, and forecasts skewed by outdated tax assumptions. In an era where AI and real-time reporting compress decision windows, and tax authorities ask sharper questions about incentives and multi-state operations, tax planning is no longer a seasonal event. This article proposes five actionable habits to help CFOs turn tax planning into a year-round advantage: capturing credit opportunities promptly, leveraging credits to drive cash flow, synchronizing documentation, improving financial planning accuracy, and continuously monitoring state tax risks.
Grant Thornton announced on Wednesday that it will acquire CBIZ for $5 billion, forming the fifth-largest tax, consulting, and professional services enterprise in the U.S. upon completion. The combined entity is expected to have annual revenue of $7.5 billion and nearly 35,000 employees worldwide. The deal continues the deep influence of private equity on the accounting industry, sparking discussions about consolidation trends and potential risks within the sector.
Ernst & Young (EY) submitted a data breach notification to California on July 15, stating that its external IT support ticket system was accessed without authorization between March 26 and April 12, potentially involving client tax information. The company said it has hired an independent cybersecurity firm to investigate and confirmed that the system is now secure.
Since taking office in November 2025, ACCA President Melanie Proffitt has actively driven the accounting profession to adapt to global changes. In a recent interview, she explored the causes of talent shortages in the industry, how AI is reshaping career development, the pros and cons of private equity entering accounting firms, and the enduring value of professional qualifications in the careers of financial leaders. She emphasized the importance of flexible career paths, continuous learning, and trust-building.
The fiscal assessment report released by the Irish Fiscal Advisory Council in June indicates that, excluding 'excess corporation tax,' Ireland will face a deficit of 11 billion euros in 2026. The report warns that corporation tax revenue is highly volatile and unsuitable for permanent spending commitments, and notes that the government plans to save only 1 euro out of every 6 euros in tax revenue.
On June 17, CFO.com hosted the online event "Navigating the Corporate Tax Frontier," focusing on topics such as AI-human collaboration, the inevitability of tax increases, tax fraud, and R&D tax credit reform, bringing together forward-looking perspectives from financial and tax leaders.
U.S. importers may receive about $166 billion in tariff refunds, and some downstream companies that did not directly pay tariffs but bore increased costs are beginning to seek refunds from suppliers. Legal experts point out that such claims face complex procedures and tax implications, with large logistics companies having clear refund plans while small and medium-sized enterprises are still exploring paths.
The adoption of AI by tax teams is not an overnight endeavor but a phased process. This article proposes a five-step implementation path, covering tax research, private chatbots, content generation, intelligent document processing, and large-scale classification, while emphasizing the core role of human review and professional judgment.
According to a survey jointly released by Hanover Research and Avalara, AI and automation are deeply penetrating the finance and tax field, but companies have a knowledge gap in e-invoicing compliance readiness, and data security remains a major obstacle.