article thumbnail

IRS Getting Serious About Prosecuting ERC Fraud

CPA Practice

From the Kiplinger Consumer News Service (via TNS). Employee retention credits have been in the news lately. The Department of Justice recently arrested a New Jersey tax preparer for allegedly seeking more than $124 million from the IRS. Treasury Department. The Treasury also disbursed at least $31.6

article thumbnail

Decoding the Difference: Tax Planning vs. Advisory

CPA Practice

By Al-Nesha Jones, CPA, MBA. While chestnuts crackle and we gear up for the annual tax preparation season, it becomes clear that the winter holidays bring more than just festivities and time off; they also mark the beginning of the tax preparation party. Tis the season! It’s ever-present in the financial journey.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

IRS’s ERC Crackdown Has Stopped $1 Billion in Fraudulent Claims

CPA Practice

In addition to recapturing funds, the IRS is pursuing criminal charges against promoters and preparers engaging in fraudulent ERC practices. Department of Justice arrested a New Jersey tax preparer for allegedly seeking more than $124 million from the IRS. Kiplinger highlighted a case where the U.S.

article thumbnail

Miami Woman Accused of Buying Bentley with PPP Funds

CPA Practice

According to the indictment, Rendon submitted fabricated loan applications to lenders in New Jersey and Idaho by falsifying her company’s revenue, payroll, number of employees, cost of goods sold and IRS tax information in order to qualify for the COVID-19 relief benefits. The Miami man ended up receiving $4.4

Florida 98
article thumbnail

10 Best States to Pursue a Career in Accounting

CPA Practice

New Jersey Total Number of Accounting Jobs Available: 4,472 Total Number of Finance Jobs Available: 3,361 Accounting and Finance Average Salary: $113,000 Average World University Rankings Accounting and Finance Score: n/a Finance Career Score /10: 8.30 Finance Career Score /10: 8.76 Distributed by Tribune Content Agency LLC

Account 104
article thumbnail

How to Pay Less in Property Taxes | Property Tax Reduction Explained by CPA

LyfeAccounting

There are only 2 states that do not have exemptions – New Jersey and Pennsylvania. So unless you live in those 2 states, there is a high probability that there are exemptions available that you can use to lower your tax bill. But if you really want to save more on your taxes, then work with our tax experts!

Tax 52
article thumbnail

10 Ways to Help Gen X Clients Prepare for Retirement

CPA Practice

By Al-Nesha Jones, CPA, MBA Generation X—aka the Sandwich Generation, Latchkey Kids, Baby Busters, and even the Forgotten Generation—will soon be approaching retirement age. She was recognized as a 2021 CPA Practice Advisor “40 Under 40” Professional.