By Barry J. Friedman, CPAFuture-thinking firms are taking advantage of the latest and greatest technologies to elevate efficiency at all levels of operation. From automating tax document preparation to delivery of financial statements via portals, technology is at the heart of a well-run and profitable practice. But what about beyond core tax and accounting workflow? Technology certainly has a place in relation to compliance—for example with Internal Revenue Code Section 7216. Disclosure and Use mandates set forth in 7216 are complex and demand significant time investment.

Microsoft announced yesterday in a very brief post to its Microsoft Money Web site that its personal financial software, Microsoft Money Plus, would no longer be available for purchase after June 30. Microsoft had discontinued annual updates of Money Plus in 2008. The company plans to support online services (including updates to tax rates and tables) for active customers through at least January 2011. After that, Microsoft will no longer issue automatic data feeds to the product.