IRIS buys Utah-based Swipeclock
Accounting Today
MAY 15, 2024
based IRIS Software announced its acquisition of Swipeclock, the Utah-based maker of solutions WorkforceHub and ApplicantStack.
Account accountant accounted Utah 
Platform Accounting Group gets $85M funding round
Accounting Today
FEBRUARY 6, 2024
The Utah-based company that invests in and acquires small accounting firms has received an $85 million minority funding round to support its expansion.
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Accountants Aren’t the Most Concerned About AI’s Impact—Except in One State
CPA Practice
JANUARY 17, 2024
Coming on the heels of a Moss Adams study that revealed 69% of accountants believe artificial intelligence has a positive impact on the accounting profession, a new report from AI customer support company DevRev found that accountants don’t fear AI advancements the most among professionals in the U.S.
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Accounting Students from University of Nebraska Win 2024 Deloite FanTAXtic Competition
CPA Practice
JANUARY 30, 2024
The Deloitte FanTAXtic case competition provides an exceptional platform for our students to cultivate invaluable relationships with peers, faculty and professionals at Deloitte while gaining practical experience,” said Kay Maresh, assistant professor of practice in accountancy, University of Nebraska, Lincoln.
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Miami Businessman Charged With Hiding Millions in Swiss Bank Accounts, Evading Taxes
CPA Practice
MARCH 13, 2024
government by hiding millions of dollars in Swiss bank accounts and lying to the IRS about his foreign assets for decades, according to federal authorities. bank accounts and real estate properties. Three years later, the IRS began auditing Rotta after obtaining evidence of unreported foreign financial accounts. But then in U.S.
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The CPA Exam Whizzes at BYU Accounting Can Wear Shorts Universally Now
Going Concern
OCTOBER 13, 2023
byuaccounting pic.twitter.com/csmcTOOUyv — BYU Accounting (@BYUSOA) October 12, 2023 Being a person who probably violates the BYU honor code on a daily basis in just about every way possible, I had to look it up. We are striving to create a culture that is consistent with the distinct religious purpose of CES institutions.
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Do Accounting Firms Care if You’re On Drugs? Part III
Going Concern
JUNE 14, 2022
12 years ago my former colleague Caleb Newquist published a post titled “Do Accounting Firms Care if You’re On Drugs?” ” is a hugely popular question based on my seeing it every other day on my regular rounds through the internet’s accounting halls. In summation: Do Big 4 firms drug test? NO, probably not.
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Monday Morning Accounting News Brief: EY Partners Banging the Client Again; Turnstile Data Shows Staff DGAF About RTO | 1.29.24
Going Concern
JANUARY 29, 2024
Accounting Ranks First In Something Good For Once More 2. We are in the midst of a transformation, if not a revolution, whereby the role of an “accountant” is no longer confined to ledgers and balance sheets, but extends to realms previously unimagined. To No One’s Surprise Except the AICPA’s, AICPA Membership Is Falling 4.
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Friday Footnotes: EY Doesn’t Regret a Return to Office; Consulting Cut Backs; AI Will Not Replace Accountants | 8.11.23
Going Concern
AUGUST 11, 2023
Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Accounting and advisory firm Grant Thornton trimmed about 3% of its ranks in June. What drew you to the field of accounting?
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Grant Thornton and Five Other Firms Got Coal in Their Stockings From the PCAOB
Going Concern
DECEMBER 27, 2022
If a PCAOB-registered accounting firm is a defendant or respondent in an administrative or disciplinary proceeding that was initiated by another regulator, that firm has to let the PCAOB know by filing Form 3, Special Report , within 30 days after the event. KCCW Accountancy Corp. – $20,000 civil money penalty and censure.
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The accountant’s guide to state taxes on retirement income
ThomsonReuters
APRIL 25, 2024
As an accountant, understanding state tax considerations for various sources of retirement income — including pensions, Social Security benefits, 401(k) and IRA distributions, Thrift Savings Plans (TSPs), and military retirement income — is crucial in helping your clients minimize their tax liability and make the most of their golden years.
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Professionals on the Move – Dec. 2023
CPA Practice
DECEMBER 14, 2023
Johnny Welborn, Texas Elite 25 Teresa Barton, Utah Jeri Beckham, Texas Frank Calise, Ariz. Teresa Barton, Utah Farooq Bawa, Ill. Amie Fuller, Utah Michelle Gillespie, Pa. He earned his bachelor’s degree in business administration from the Principia College and completed accounting courses at the University of Missouri (St.
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How the 50 States Rank By Lifetime Taxes
CPA Practice
APRIL 5, 2024
Taxpayers in Washington will pay the most on everyday expenses ($83,014), followed by those in California ($78,191), accounting for food, clothing, personal care, and entertainment. Utah $1,397,411 $493,368 35.3% Utah $1,397,411 $493,368 35.3% Connecticut $1,731,261 $855,307 49.4% Vermont $1,442,094 $651,434 45.2%
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5 Common Ways That Legacy Technology Puts Your Firm at Risk
CPA Practice
OCTOBER 18, 2023
While every industry has outliers when it comes to technology adoption, i.e. adoption that is either faster or slower than the median for a particular group, historically, the accounting profession has trended toward inertia when it comes to making technology changes.
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FDIC Approves Square For Banking License
PYMNTS
MARCH 19, 2020
The Federal Deposit Insurance Corporation ( FDIC ) gave the green light to an application from the FinTech firm Square to create a de novo industrial bank in Utah, the agency said on Wednesday (March 18). The headquarters will be in Salt Lake City, Utah. The new bank anticipates opening next year.
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NDH Advisors Acquires Houston CPA Firm Jain & Jain
CPA Practice
JANUARY 30, 2024
NDH Advisors has acquired Houston-based CPA firm Jain & Jain—the second transaction the Chicago accounting business has made in as many months. NDH’s first foray into M&A was last November when it acquired Leawood, KS-based tax and accounting firm Stratus Group. Terms of the deal weren’t disclosed.
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Professionals on the Move: Sept 2023
CPA Practice
SEPTEMBER 25, 2023
The complete TAG Alliances Advisory Board includes: Kurt Baker of ESV Business advice and accounting (New South Wales, Australia – TIAG); Mariano Batalla of Batalla (Costa Rica – TAGLaw); Basil Bielich of Atla Group (Isle of Man – TIAG & TAG-SP); Gbenga Biobaku of Gbenga Biobaku & Co.
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Friday Footnotes: Bob Moritz Disappoints Us; ERC Window Slamming Shut; 2024 Sucks For Firms? | 3.22.24
Going Concern
MARCH 22, 2024
Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. Look no further, Accountingfly’s top remote accounting candidates of the week are here.
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Recent Data Study Reveals Most Popular Side Hustle in Every U.S. State
CPA Practice
DECEMBER 13, 2023
States with the highest level of interest in side hustle jobs in 2023 are Washington, Oregon, Idaho, and Utah – which could mean that the western U.S. is feeling the economic impact the most. States with the least interest in finding a side hustle are Florida, Vermont, and Maine – all of which are on the East Coast.
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The Benefits of Delayed Business Filings
CPA Practice
DECEMBER 19, 2023
Timing is Everything In the complex world of small business finance and accounting, the strategic timing of business filings can be a game-changer. Loved by entrepreneurs, accountants, and lawyers, CorpNet offers transparent pricing, a simple ordering process, and quickly scalable software and API solutions.
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Turkish Authorities Search For Suspect In US Tax Fraud Scheme
PYMNTS
DECEMBER 29, 2020
Turkish prosecutors have issued a detention warrant for Turkish businessman Sezgin Baran Korkmaz, who has ties to Utah business executives who recently pleaded guilty to a $511 million tax credit scheme in the U.S., In Utah, Korkmaz worked with Jacob and Isaiah Kingston, brothers and executives of a Salt Lake City-based biodiesel company.
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FTC Refunds $12M To Consumer Victims Of Bogus Online Trial Memberships
PYMNTS
MAY 19, 2020
The FTC alleged the Utah-based company operated deceptive trial memberships and bogus government grant and money-making schemes in 2010. The company unlawfully enrolled customers in membership programs without disclosing that it would charge their accounts on a recurring basis until they canceled, the FTC said.
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Court Denies Remedies for Mental Health Parity Violation
ThomsonReuters
JULY 14, 2022
Utah 2022). The post Court Denies Remedies for Mental Health Parity Violation appeared first on Tax & Accounting Blog Posts by Thomson Reuters. Premera Blue Cross, 2022 WL 2208927 (D. Available at [link]. Contributing Editors: EBIA Staff.
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Utah Accounting Firm and Dudes Who Work There Busted For ERC Fraud
Going Concern
FEBRUARY 22, 2023
TL;DR Two guys and their accounting firm are accused of filing false tax returns and a touch of COVID relief fraud. 1 charging two Utah County men and an accounting firm with claiming an excess of $11 million in tax credits through a COVID-related fraud scheme. I had a call scheduled with an accountant and he never called.
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Coinbase Offers Bitcoin Cash Loans Of Up To $20K In 17 US States
PYMNTS
AUGUST 14, 2020
Initially, the loans are available in the following states via the waitlist: Alaska, Arkansas, Connecticut, Florida, Georgia, Illinois, Massachusetts, New Hampshire, New Jersey, North Carolina, Oregon, Texas, Virginia, Nebraska, Utah, Wisconsin and Wyoming.
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Predatory ‘Rent-a-Bank’ Lending Practices Trigger Calls For Regulation
PYMNTS
MARCH 11, 2020
OppLoans, for example, partners with a Utah bank and charges an average of 199 percent, according to its website. Utah has no caps on interest rates. “A OppLoans and its Utah partner FinWise Bank have a rent-a-bank partnership that gives it the freedom to avoid caps in numerous states.
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Japanese FinTech Rakuten Applying For US Banking Charter
PYMNTS
JULY 26, 2019
FDIC) and the state of Utah for an industrial loan company (ILC) charter. The bank would be headquartered in Utah and could handle users’ deposits, according to Lee Carter, Rakuten head of banking and potential ILC CEO. Rakuten has about 13 million active users who earn rewards for purchasing products from participating merchants. .
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What's new in state sales and use taxes
TaxConnex
JULY 12, 2022
Sales tax is the largest source of state funding for the state budget, accounting for 59% of all tax collections. Utah has released and updated a publication regarding the sales taxation of tangible personal property attached to real property, as well as guidelines on who must collect and pay the sales tax on those sales.
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Court Declines to Enforce Plan-Imposed Limitations Periods Not Disclosed in Benefit Denial Notices
ThomsonReuters
MAY 12, 2022
Utah 2022); Anne A. Utah 2022). The post Court Declines to Enforce Plan-Imposed Limitations Periods Not Disclosed in Benefit Denial Notices appeared first on Tax & Accounting Blog Posts by Thomson Reuters. United HealthCare Ins. 2022 WL 957200 (D. United HealthCare Ins. 2022 WL 957199 (D. Contributing Editors: EBIA Staff.
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The Beef Between the AICPA and Minnesota Over the 150 Hour Rule Heats Up
Going Concern
FEBRUARY 24, 2023
What’s at risk: A legal review of the proposed changes has been conducted by the National Association of State Boards of Accountancy (NASBA). As the member organization for all state boards of accountancy in the United States, NASBA spelled out key consequences for Minnesota licensees and firms.
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Goldman’s Marcus Has Lost $1.3B Since 2016
PYMNTS
SEPTEMBER 29, 2019
billion despite buying startups and building call centers in Utah and Texas, The Wall Street Journal reported Saturday (Sept. Goldman’s entry into savings accounts and credit cards resulted in early loan losses, people familiar with the matter told the news outlet. Consumer bank Marcus , launched by Goldman Sachs in 2016, has lost $1.3
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Employer Payroll Tax Obligations When Employees Work Out-Of-State
Anders CPA
MAY 15, 2023
Once registered, employers will receive an employment withholding account number so state taxes can be withheld and remitted properly. If you have employees working in states that have state withholding tax, then the business will need to be registered with that state’s Department of Revenue “To Do Business.”
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How Layoffs Affect Your Tech Company’s Books and Payroll
Shay CPA
JUNE 7, 2023
Meet with your accountant to decide if it’s right for you. States that require employers to pay out the severed employees’ final paychecks immediately or by next-business-day include: California Colorado Connecticut Hawaii Massachusetts Minnesota (if the employee demands it) Missouri Montana Nevada Oregon Utah Washington, D.C.
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Court Rejects Mental Health Parity Claim for Wilderness Therapy Coverage Denial
ThomsonReuters
APRIL 13, 2023
Utah 2023) A group health plan participant sued the plan, its claims administrator, and her employer (as plan administrator) after the plan denied coverage for wilderness therapy for her daughter’s mental health issues and substance use disorder. Anthem Blue Cross Life and Health Ins., 2023 WL 2480053 (D. Contributing Editors: EBIA Staff.
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Galileo To Power Dave Banking App
PYMNTS
NOVEMBER 12, 2020
Dave’s digital bank account and debit card have no minimum balance requirement, no overdraft fees and access to 32,000 MoneyPass ATMs, fee-free. Galileo, headquartered in Salt Lake City, Utah, supports a variety of payment solutions.
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Employer Vaccine Mandates, Worker Refusals, and Unemployment Benefits
ThomsonReuters
JANUARY 24, 2022
The question arises whether a worker who refuses an employer’s vaccine mandate is eligible to collect unemployment benefits, and if so, are employer unemployment accounts impacted by those claims. Meanwhile, employers across the nation, who are not prohibited by a state law, may impose their own vaccination policy. California.
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Wells Fargo Faces Class Action
PYMNTS
SEPTEMBER 19, 2016
Those bogus bank accounts Wells Fargo allegedly opened are looking mighty expensive for the company. Wells Fargo is now at the center of a class-action lawsuit stemming from the sham accounts scandal. The scandal hinges on the bank opening some 2 million accounts without customers’ approval or knowledge, all to hit sales targets.
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In the Trenches: My Three Least Favorite Audit Rooms
Going Concern
MAY 6, 2022
Audit rooms come in all shapes and sizes—usually small, often windowless, sometimes with chairs you can actually sit on, and almost always as far away from the finance/accounting department as possible. After eight years in public accounting, I have loads of unforgettable audit room experiences. Here are just a few. The b oardroom.
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Today In Payments: Study Shows Americans’ Savings Drying Up; State AGs To Press Own Case Against Google
PYMNTS
OCTOBER 16, 2020
In today’s top news, Americans are struggling as savings accounts run dry, and several states are preparing their own antitrust probe into Google. Seven months into the worldwide pandemic, Americans are facing empty savings accounts, reduced unemployment benefits and no relief in sight, according to an Oct. billion in Prime Day sales.
Goldman’s Consumer Banking Venture Has Lost $1.3B Since 2016
PYMNTS
SEPTEMBER 29, 2019
billion despite buying startups and building call centers in Utah and Texas, The Wall Street Journal reported Saturday (Sept. Goldman’s entry into savings accounts and credit cards resulted in early loan losses, people familiar with the matter told the news outlet. Consumer bank Marcus , launched by Goldman Sachs in 2016, has lost $1.3
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Kohl’s To Reopen Stores In 10 Additional States
PYMNTS
MAY 8, 2020
The retailer had opened stores again on Monday (May 4) in South Carolina, Utah, Oklahoma and Arkansas. “We Non-essential locations, with the inclusion of malls, will have to take into account old issues such as total footprint and new ones like social distancing.
CFPB Rolls Out Innovation Regulator Network
PYMNTS
SEPTEMBER 11, 2019
Inaugural members of ACFIN include state attorneys general of Alabama, Arizona, Georgia, Indiana, South Carolina, Tennessee and Utah. The report examined collections tradelines — information about a consumer account sent to a credit reporting company, generally on a regular basis — from 2004 to 2018.
How to File Income Tax Return: Tax Filing Preparation Guide 2022
Snyder
JUNE 9, 2022
States with flat income tax : Colorado Illinois Indiana Kentucky Massachusetts Michigan North Carolina Pennsylvania Utah. Step 1: Collect accounting records. The biggest challenge here is to reconcile this data with reports from your checking bank account. This is when online accounting tools can really help.
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Court Finds No Mental Health Parity Violation, Despite Offending Plan Provisions
ThomsonReuters
DECEMBER 2, 2021
Utah 2021). The post Court Finds No Mental Health Parity Violation, Despite Offending Plan Provisions appeared first on Tax & Accounting Blog Posts by Thomson Reuters. Christine S. Blue Cross Blue Shield of N.M., 2021 WL 4805136 (D. Contributing Editors: EBIA Staff.
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