article thumbnail

Feds Cracking Down on Unlawful Tax Return Preparers

CPA Practice

The Justice Department is advising taxpayers to choose their return preparers wisely as the April 15 federal tax filing deadline approaches. Unscrupulous preparers who include errors or false information on a tax return could leave a taxpayer open to liability for unpaid taxes, penalties and interest.

article thumbnail

Monday Morning Accounting News Brief: Accounting Firms Ditch Zoom Interviews; Mississippi’s Best CPA Exam Candidates | 8.28.23

Going Concern

Accounting firms across the pond are ditching Zoom interviews, writes Sunday Times : Zoom calls became the norm for business meetings during the pandemic — but accountancy firms, among the biggest graduate recruiters, are going back to face-to-face interviews when hiring, saying it is easier to assess candidates’ characters.

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

Monday Morning Accounting News Brief: PwC Didn’t Screw Up the Oscars; Deloitte India Doubles in Size; ‘Sham Audits’ | 3.13.23

Going Concern

PwC is the accounting firm that tabulates the votes. Infamously, in 2017, a PwC accountant handed Warren Beaty and Faye Dunaway the wrong envelope, resulting in the “La La Land”/“Moonlight” best picture fiasco. “The Each partner is stationed in the Dolby Theatre’s wings during the ceremony with a full set of winners’ envelopes.

audit 52
article thumbnail

QSBS Exemption Explained: What Investors and C-Corp Executives Should Know

inDinero Accounting

If you want to dive deeper into this topic, you can connect with one of the experts on our business tax services team. QSBS Rules for Qualification QSBS Tax Treatment How to Report QSBS on Your Tax Return Conclusion What is the QSBS Exemption? This would come to a capital gains tax bill of $140,000 ($500,000 * 0.28).

article thumbnail

Friday Footnotes: Ex-Deloitte Partner Stole Military Documents on His Way Out; KPMG Reveals Its Partnership Deed | 7.21.23

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. News Battle accountancy firm urges others to offer opportunities to Ukrainian professionals after successful placement [ SussexWorld via Yahoo! ” Then Robinson agreed.

audit 92
article thumbnail

Monday Morning Accounting News Brief: Semper Fi-nancial; EY Gets a D in Auditing; Deepfake CFOs Are a Thing | 2.26.24

Going Concern

National Review wins for best headline : The PCAOB has released EY Canada’s latest inspection report, they got a D : Big Four accounting firm Ernst and Young had multiple deficiencies in half the audits inspected by the Public Company Accounting Oversight Board in the United States in 2022. deficiencies).

audit 59
article thumbnail

A Refresher on the Types of Small Business Legal Structures, and Their Benefits

CPA Practice

The IRS considers partnerships and multi-member LLCs “disregarded entities,” which means members/owners report their share of company profits and losses on their personal tax returns. C Corporations A C Corporation is a separate legal entity from its owners and files separate tax returns.

Legal 98