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IRS Hosts Webinar Addressing Employee Retention Credit Fraud and Response

Withum

The panel discussed various ERC eligibility criteria and key areas of compliance, including the exclusion of certain employees from the definition of qualified wages, the requirement to reduce wage expense on amended income tax returns for the ERC, and the interaction between the ERC and other grant programs/tax credits.

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Defending IRS Cash Based Audits – Guilty Until Proven Innocent: The Case for Using a Forensic Accountant

Withum

Not every business has full-time, educated financial staff and the tools to capture and report financial transactions. They will have reviewed the business’s and its owners’ tax returns. In short, you’re not talking your way past the auditor.

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Friday Footnotes: Client Hid ‘Damning’ Audit; Predictions for the Profession; Accounting Firm Gets Compromised | 4.15.22

Going Concern

To counter this perception, the accounting profession could be rebranded as a foundational force of social stability and progress, and not just as “a job” with long hours and low return on investment (ROI) on education. The pay isn’t worth the educational investment. Here we need to make changes to the ROI calculus of education costs.

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Guide to accountant responsibilities

ThomsonReuters

Working with external auditors. Salaries are likely to vary depending on the level of experience, education and geographical location, but the average base salary for an accountant is $62,410 per year. In addition, they must complete 72 hours of continuing education every three years. Recording disbursements and payments.

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Driving SOX Compliance: Cannabis Licensed Operators Embarking on a SEC Compliance Journey

Cherry Bekaert

Developing Employee Training and Education SOX also requires businesses to provide training to their employees on the policies and procedures that are in place. This step is critical and likely a large-scale effort, as most Cannabis License Operators will require some process redesigns to ensure proper risk mitigation.

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Creative Accounting and Cooking the Books

Withum

However, some of the giveaways include a long period of silence on the part of the auditor or the sudden need for copies of records. Questions regarding lifestyle, assets, and liabilities can all point to a potential probe where the agent is attempting to document the taxpayer’s income and support needs.

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Sales tax and nonprofits

TaxConnex

Nonprofits are often thought to be exempt from sales taxes, but is that correct? most devoted to religion, human services and education). Other stats say more than 2 million charities exist that are tax-exempt according to Internal Revenue Service rules. How important are these certificates?

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