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Accountants Behaving Badly: Police Department Accountant Couldn’t Be Bothered, PPP Loan Fraud, and a Creepy Tax Preparer

Going Concern

It’s been a while since we’ve done an Accountants Behaving Badly megapost ( 381 days ago , actually), here’s some bad behavior you may have missed. Twice-Convicted Accountant Is Charged With Embezzling More Than $1.1 Palos Hills Accountant Indicted In $7.8M This stock photo is incredible.

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Friday Footnotes: KPMG Pays High Schoolers 20 Bucks an Hour; Deloitte Cyberattacked Too; IRS on ERC | 7.28.23

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. According to his family, he originally had planned to become a chemical engineer but changed to accounting because of ongoing prejudice against Jews. News Obituary of Jerome A.

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Fourteen People Who Inspired Future Tax Criminals in 2022

Going Concern

The IRS Criminal Investigation unit has released its top cases for 2022 and in it we get reality TV personalities, a rogue tax preparer, some garden variety PPP fraud, and even a former decathlete with his own Wikipedia page. Burnell did not report any of the money he received from victims in 2011 or 2012 on his income tax returns.

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Start Now to Make Your 2024 Tax Return Easier to Do

Withum

Further, if PTP shares are owned in a retirement account, including an IRA, Roth IRA, or 401k, some of the income could become taxable in those tax-sheltered accounts. This means that the retirement account would need to file a tax return and pay tax on some of its income.

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IRS Audit Red Flags & Triggers: How the IRS Catches You

LyfeAccounting

Claiming Large Losses From Gambling. The IRS pays heavy attention to losses claimed from gambling. This is because you can only deduct gambling losses to the extent that you report your winnings. If you gamble recreationally and claim losses, the IRS will be looking to see if you also reported your winnings in your income.

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Friday Footnotes: Anyone Wanna Work in Hollywood?; Profit-Hungry CEOs Love Gen AI; KPMG’s SF Future | 1.19.24

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. And take our 2024 Predictions for the Accounting Profession survey ! Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.

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Friday Footnotes: How Much Big 4 Spent on Lobbying Last Year; Super Bowl Bets; CFOs Feeling Good | 2.9.24

Going Concern

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. My buddy from undergrad works office security at one of the Big 4 accounting firms in Midtown.