Accounting Today

JULY 31, 2025

He used the money on personal expenses including meals, entertainment and gambling. By Jeff Stimpson 1h ago Tax Wyden probes IRS scrutiny of Jeffrey Epstein's tax planning The top Democrat on the Senate Finance Committee wants information about whether the IRS has done any audits or investigations of Epsteins tax planning work.

Tax

Accounting Today

JULY 8, 2025

EDT 2 Min Read Facebook Twitter LinkedIn Email OBBBA and gambling; a billing lesson from bookkeeping; BOI 2.0; Taxable Talk ( [link] ): Why the Senate version of Beautiful was actually bigly ugly towards gambling. and other highlights from our favorite tax bloggers. Tax strategies for law firm partners.

Real Estate

Going Concern

JANUARY 21, 2025

KPMG UK is under investigation : The accounting firm KPMG is under investigation by the sectors UK regulator over its audit of the 2022 accounts of the gambling company Entain. Maybe we’ll look at some historical data and see what kind of progress they’ve made in the past decade. For funsies.

accounted

CPA Practice

JULY 14, 2025

Subscribe Tags:  fraudulent tax return , Income Taxes , PPP fraud , tax fraud , tax preparer news , Taxes Recommended Taxes Articles View All Taxes Articles Taxes July 14, 2025  Nevada’s Titus, Trump Loyalists Align on Challenging Gambling Tax Las Vegas Democratic Rep.

tax preparation

Going Concern

JULY 25, 2025

Big 4 EY whistleblower alleges firm enabled organized crime-linked global gambling networks [ ReadWrite ] A former senior partner at Ernst & Young has accused the firm of knowingly enabling organized crime-linked gambling businesses in a sweeping federal complaint filed in the Southern District of New York. ET for planned updates.

Gambling

CTP

FEBRUARY 29, 2024

American gaming has boomed since sports betting and online gambling were legalized. Complex tax laws for filing and deducting gambling winnings and losses provide new hurdles for taxpayers. Definitions of gambler categories Gambling winnings are reported differently based on the different categories. Social players rarely bet.

Gambling

CPA Practice

JANUARY 10, 2024

The legalization of sports betting and online gambling has led to an explosion in gaming across America. With millions trying their luck, complex tax rules for reporting and deducting gambling winnings and losses present new challenges for taxpayers. Gambling losses can be deducted above the line as business expenses.

Gambling

PYMNTS

JANUARY 14, 2020

In an effort to rein in problem gambling, the U.K. Gambling Commission is banning the use of credit cards for placing bets, the BBC reported on Tuesday (Jan. The ban is slated to take effect on April 14, following audits of the gambling industry by the commission and the government. ” Gambling revenue in the U.K.

Gambling

CPA Practice

JUNE 15, 2023

Taxpayers can claim a limited deduction for gambling losses, but the IRS keeps close tabs on these write-offs. Gambling losses are deductible only up to the amount of you winnings for the year. Casinos and other gambling payors report earnings on Form W2-G if you win $1,200 or more from your bets. Report all your winnings.

Gambling

Going Concern

SEPTEMBER 25, 2023

TPB slaps 5-year ban on accountant involved in $26m fraud [ Accountants Daily ] The Tax Practitioners Board has slapped a five-year ban on a Sydney accountant charged with stealing $26 million through his firm to fund a lavish lifestyle and gambling addiction.

tax preparation

ThomsonReuters

APRIL 2, 2024

The probe centers around Ohtani’s former interpreter, Ippei Mizuhara, who has been accused of illegal sports gambling and significant financial theft. It was revealed that Mizuhara had accumulated substantial gambling debts, which were allegedly covered by wire transfers totaling at least $4.5

Gambling

LyfeAccounting

APRIL 8, 2021

Now, we want to help you avoid an IRS audit! Although your chances of being audited in general are pretty low, there are certain IRS audit red flags that increase your odds dramatically. 8 IRS Audit Red Flags to Watch Out For. 8 IRS Audit Red Flags to Watch Out For. In 2019, the IRS audited 0.4%

audit

Withum

MAY 14, 2024

As discussed in our previous article, The Case for Using a Forensic Accountant , confronting the prospects of a cash-based audit is fraught with potential traps and exposure to civil and criminal penalties, including incarceration. Some means include virtual currencies, collectibles, gift cards, register zappers, gambling, and barter.

audit

Going Concern

MARCH 17, 2023

So that’s not a scripted set of results, yet it is known prior to the event, and gambling is legal on the Oscars. We’ll allow gambling on it for a certain amount of time, then we’ll turn the gambling off. We’ll allow gambling on it for a certain amount of time, then we’ll turn the gambling off.

Government

PYMNTS

JANUARY 18, 2019

Among the findings in that report: Only 10 percent of employee expenses — the ones being sent along in expense reports — are being audited. There were expenses traced to strip clubs, gambling and even tattoos. AI can trace locations given by employees, such as restaurants for meals, to gambling venues or strip clubs.

Gambling

Accounting Today

JANUARY 21, 2025

Gambling operators have attracted increasing regulatory scrutiny in the U.K. in recent years, leading to significant fines.

Gambling

Going Concern

AUGUST 26, 2022

Headquarters at Hudson Yards [ Wall Street Journal ] The global audit and consulting firm KPMG LLP is shrinking its New York office space by more than 40%, becoming the latest big company to cut back on real estate as it embraces hybrid work. and China Announce Deal to Share Audits of U.S.-Listed stock exchanges.

CPA

Going Concern

JANUARY 19, 2024

The financier accused Disney/Fox of self-dealing with FX, Hulu and Disney+, said its revenue began to shrink and that an audit it commissioned showed breaches of contract. The demand for reporting to better understand a company’s performance and related risks is being coupled to technology to accelerate change in the audit profession.

Arizona

Acterys

DECEMBER 22, 2023

Instead of gambling with outdated processes and systems, businesses need simple, automated solutions that protect their data and make it readily available. Sharing Data In today’s interconnected business landscape, data sharing is essential for strategic partnerships, audits and financial reporting, among other uses.

accounting software

CPA Practice

MAY 3, 2023

Prior to joining Centri, Blake was an audit partner at BDO USA, LLP, where he drove revenue growth for the firm’s Technology & Life Sciences industry groups. Before law school, Danielle was an accountant at Procter & Gamble. Danielle is a graduate of Harvard Law School where she was editor of the Harvard Law Review.

Washington

Going Concern

FEBRUARY 9, 2024

You gotta pay the piper’ on your winnings, says tax expert [ NBC10 Philadelphia ] All gambling winnings are considered taxable income by the Internal Revenue Service, even if you aren’t a professional gambler. Tax Betting on the Super Bowl? “Win big? researchers surveyed financial executives (e.g.,

Technology

PYMNTS

JUNE 14, 2019

The scheme came to light as part of an internal audit and spanned 18 months, allegedly. Gurgyan Singh Kaley, who pleaded guilty to the fraud, claimed he gambled away £1m online in five years as he served on the real estate tax team at the Big Four firm. And in another instance of fraud, this time with wheels, accountancydaily.co

Entertainment

Going Concern

NOVEMBER 14, 2022

PwC Deals Director Orla Fisher, who switched from Audit to Deals in 2007, tries to explain what she does for a living : “Deals is essentially helping people to buy and sell companies. A previously undisclosed government-ordered audit of Twitter Inc.’s A recent agreement between Washington and China allowing U.S.

accounted

Going Concern

FEBRUARY 12, 2024

Canadian Accountant put out a piece on the auditor shuffle using some Ideagen Audit Analytics data : While the annual data provided to Canadian Accountant by an American data analytics firm always contains a few fascinating odds and ends — and that year was no different — the most recent data available presented a mystery.

auditor

Going Concern

AUGUST 12, 2024

Ortiz spent years there auditing and studying for her CPA exam. Marcum Asia, the US audit firm focused on Chinese small-caps, has been excluded from the $2.3bn acquisition of its parent company, leaving it searching for a new name and potentially new investors. “We It’s all very complicated, go check out FT for the full story.

Tax

CPA Practice

OCTOBER 25, 2024

You seem to be particularly strong in tax and client accounting services, and seem to be, you know, morphing into larger firms and maybe a little bit of audit PVC, but the engagement organizer breakthrough that I think you’ve done is notable compared to every other one that I’m familiar with in the marketplace. Or do you have gambling income?

Technology

PYMNTS

MAY 16, 2018

Today, illegal gambling represents a $150 billion business. Soon, however, the payments industry will be able to tap into that market legally, thanks to a recent decision by the Supreme Court to axe a federal law that prohibited gambling on sports in most U.S. Payments will, of course, be central to online gaming and sports wagering.

Sports

CPA Practice

JUNE 4, 2024

This aspect allows me to witness and contribute to the broad range of professional opportunities—from technical expertise in specialties like tax and audit to strategic roles in management and consulting. Heal the Workplace The Burnout Gamble Subtle Acts of Exlusion -

CPA

inDinero Accounting

OCTOBER 16, 2023

Those include: Gambling Real estate Lending institutions “Adult” businesses Non-profits What Documents Do You Need for an SBA Loan? Therefore, you must carefully audit these documents alongside your financial reports before submitting your loan application. Your lender will closely review bank statements and tax returns.

Real Estate

PYMNTS

MAY 15, 2018

Verification auditing should be the provider’s responsibility, not the organization’s, he said – that’s why they’re paying the vendor. The provider’s internal audit mechanism should have manual elements, he added, where 10 to 20 percent of verifications are sampled to determine when new types of fraud are creeping in. Why It Matters.

audit

FraudFiles

AUGUST 31, 2021

Gambling habits and drug addictions are common motives for theft. Using procedures like surprise audits and random checkups will help keep them on their toes. What has caused the employee to steal? This could be a financial need like a potential mortgage foreclosure on the employee’s home or a spending spree that went out of control.

Gambling

LyfeAccounting

JULY 9, 2021

This would be dividends, interest, capital gains, gambling winnings, alimony, social security benefits, pensions, and annuities. If you are audited, they will make the determination of if you qualify by looking at your situation such as: your intention or purpose of being in the foreign country, or. Unearned income. Variable income.

income tax

PYMNTS

MARCH 5, 2018

Procter & Gamble made headlines last week when its Chief Brand Officer, Marc Pritchard, confirmed that the world’s largest advertiser cut $200 million of digital advertising spend in the last nine months of 2017. That year, P&G’s ad spend totaled $7.1 That wasn’t the big news. Or, more precisely, eyeballs, to those ads.

Gambling

Analytix Finance & Accounting

MAY 7, 2025

But if you make them based on misleading numbers, you’re essentially gambling with your business. If you choose incorrectly, youll risk audits, penalties, and the administrative nightmare of switching methods mid-year. Potential audit red flags Inconsistent application of hybrid accounting principles can trigger IRS scrutiny.

accrual accounting

Going Concern

DECEMBER 8, 2023

companies while hindering recruitment and retention, according to 78% of audit partners surveyed by the Center for Audit Quality. The CAQ surveyed 748 audit partners at eight of the largest accounting firms about conditions for their clients. Cohen & Co., McKonly & Asbury ] The merger will be effective January 1, 2024.

cpas

Going Concern

JULY 28, 2023

Beginning no later than 2011, Fulton was aware that Nix ran an illegal gambling business. Nonetheless, Fulton knowingly laundered Nix’s illegal gambling proceeds by continuing to provide financial services to Nix and providing access to the financial system. The IRS audit rate for large partnerships has dropped to less than 0.5%

Gambling

PYMNTS

MARCH 1, 2019

According to the Calgary Herald , Dhuga said “I see you have discovered my gambling habit” when the scam was uncovered and she was confronted. Among them, AppZen has logged more than 1,000 customers using its auditing technology, which is used to examine expense reports.

Gambling