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Sales tax and nonprofits

TaxConnex

Definitions For Federal income tax purposes, according to the IRS , tax-exempt organizations include: Charitable: Organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, educational or other specified purposes. But as always with sales tax, rules vary state to state.

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Friday Footnotes: EY Split Drags Out; Advisory Firm Defrauds Clients; Student Loan Forgiveness and Taxes | 9.2.22

Going Concern

SEC Charges Advisory Firm and Executives with Devising an Elaborate Scheme to Defraud Clients out of More Than $75 Million [ SEC ] The Securities and Exchange Commission today charged two North Carolina-based executives, Gregory E. Audit under fire: Is the worst yet to come? China securities regulator says will implement Sino-U.S.

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Accountants Behaving Badly: Kickback Schemes, Hiding Money From the IRS, Embezzlement Spree

Going Concern

Plus, Pennsylvania accountant loves tax evasion, North Carolina CPA indicted on securities fraud charge, and Kentucky accountant gets jail time for sex trafficking. The prosecution also said Simontacchi prepared false income tax returns for the years 2013 to 2019, shorting the government more than $100,000.

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Friday Footnotes: Why Private Equity Loves the Profession; A Very Naughty KPMG Employee; WTF PwC Guy | 4.5.24

Going Concern

At that firm, I was an external auditor for almost five years, and in the final year, I was working in our Financial Accounting Advisory Services group.” She survived her layoff by making these four money moves: Building a Financial Cushion, Reducing Spending, Creating a Job Search Strategy, Finding Additional Income Sources.

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