Withum

MARCH 30, 2023

As of March 29, 2023, the IRS has published five documents expressing that the employee retention credit (ERC) is rife with fraud because of unscrupulous tax credit shops. The most recent guidance added tax promoter claims involving the ERC to the IRS’s annual Dirty Dozen list of tax scams. That’s never good.

tax return 126

tax return income tax auditor audit 126

ThomsonReuters

MAY 12, 2022

What triggers a sales tax audit and how do you reduce the risk of an audit? Almost all companies undergo a sales tax audit at some point. This sales tax audit guide can help indirect tax teams avoid common audit triggers and manage the sales tax audit as smoothly as possible. What is a sales tax audit?

audit 105

audit Sales Tax auditor 105

Withum

MAY 14, 2024

Engaging a forensic accountant in advance of the audit to assess if all income has been reported and, if not, the level of unreported income can provide a path to address the auditor’s findings before they reach undesirable conclusions. The list goes on.

audit 75

audit forensic accounting tax return Gambling 75

Going Concern

FEBRUARY 26, 2024

During this two-year audit, the Marine Corps had independent third-party auditors from Ernst and Young vet the value of all its assets listed on financial statements. The PCAOB inspected four EY Canada audits — three in which the firm was the principal auditor — and found deficiencies in two (50% with Part I.A deficiencies).

audit 57

audit Mississippi auditor tax return 57

Withum

OCTOBER 3, 2023

It is not clear how often, if at all, the IRS will use this second rule to pursue taxpayers because it is required to coordinate with DOJ and actually file a lawsuit, which is more burdensome that just assessing tax within the regular statute of limitations. What Does This Mean For IRS Audits of ERC Claims? Nothing, really.

income tax 122

income tax audit tax return Tax 122

Withum

OCTOBER 19, 2023

If a taxpayer has not received a refund and its claim is under IRS audit, then the taxpayer should prepare the withdrawal request as described above, but instead of faxing or mailing it to the IRS, it should be sent to the IRS auditor handling the audit. Below is a sample of how the request for withdrawal should be prepared.

tax return 126

tax return audit income tax auditor 126

Going Concern

JANUARY 19, 2023

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. government. He was also ordered to pay nearly $9.7 He was also ordered to pay nearly $9.7

Tax 62

Tax tax return Gambling tax preparation 62

Withum

AUGUST 2, 2023

On July 25, 2023, the Office of Fraud Enforcement and National Fraud Counsel of the IRS hosted a webinar on the Employee Retention Credit (ERC) and discussed the current landscape of enforcement for tax professionals. If you want a more robust analysis of these rules, read our article here or watch our ERC Audits on-demand webinar.

audit 96

audit income tax auditor tax return 96

Going Concern

DECEMBER 23, 2022

UK companies brace themselves for escalating battles with auditors [ Financial Times ]. UK companies are gearing up for conflicts with auditors next year as economic and political uncertainty add to the difficulty of signing off accounts and forecasting financial outlooks. Should we tax robots? [ placed a tax on robots?

Tax 83

Tax auditor audit tax return 83

Going Concern

FEBRUARY 23, 2024

Top Remote Accounting Candidates: February 22, 2024 Law & Order Co-Owner of Media Brokerage Firm Sentenced for Filing False Tax Returns [ Department of Justice ] According to court documents and statements made in court, Susan K. Q: What advice would you give your student working on their first project as qualified auditor?

CPA 96

CPA Illinois auditor Iowa 96

Going Concern

APRIL 14, 2023

EY Decision to Call Off Auditing Split Leaves Investors Stranded [ Bloomberg Tax ] Now that EY has deserted any plans to assuage these concerns through a thoughtful split, it’s created a contentious environment for other firms to pursue well-advised efforts to separate their business lines.

Tax 100

Tax auditor audit accounting firms 100

AdviceForTaxpreparers

JULY 29, 2019

Advice for Tax Preparers Making tax preparers lives easier one blog at a time HOME. I put together this post to bring together any funny and entertaining accounting and tax videos, puns, jokes, pictures, etc. AT THE IRS “Why are we paying so much tax?” A successful tennis player has a lot of net income.

tax preparation 212

tax preparation Account accountant accounted 212

Going Concern

JANUARY 5, 2024

Big 4 Big Four Reshape Consulting Workforce, Strategy With Rare Layoffs [ Bloomberg Tax ] The Big Four accounting firms have leaned into their tech advisory work and data analytics services—areas ripe for revenue growth—as interest rates and the artificial intelligence boom reshaped demand for consulting services. Happy trails, Tom!

tax return 104

tax return Virginia accounting and finance audit 104

Anders CPA

DECEMBER 6, 2022

As a part of this process, taking a close look at all tax liabilities and implications is an important step. When considering a business purchase or sale opportunity, many will consider the federal income tax implications but overlook the state and local sales taxes. What Can I do to Manage Sales Tax Liability?

Tax 52

Tax Manufacturing income tax auditor 52

Going Concern

SEPTEMBER 2, 2022

AccountancyAge ] Auditors have been feeling the heat recently after a series of high-profile failures, but what lies ahead and are they solely to blame? tax laws, giving the IRS $15 million to design a free “e-file” tax return system. Audit under fire: Is the worst yet to come? What Reddit’s Been Up To This Week.

North Carolina 84

North Carolina Tax Idaho audit 84

Withum

JANUARY 25, 2024

This becomes even more critical in instances where additional non-tax related charges may be possible or if the audit may result in criminal charges. In some cases, depending on the extent of the estimated tax loss, coupled with the investigating agent’s suspicions of fraudulent activities, a criminal referral may be made.

forensic accounting 78

forensic accounting audit Account accountant 78

ThomsonReuters

APRIL 12, 2021

In a new episode of the Tax & Tech Talks podcast series, experts from KPMG and Thomson Reuters discuss how companies are turning to automation and analytics software to stay ahead of changes buffeting indirect tax management. _. Greater government scrutiny: Aggressive indirect tax audits are expected as soon as this year.

Tax 98

Tax Technology corporation tax audit 98

Withum

APRIL 27, 2022

The accounting system is the basis for reports that must be provided to grant agencies, prospective donors, lenders, its independent auditors, tax preparers, the Board of directors and management. . Further, many essential schedules are not provided to the auditors timely.?Accurate Asha can be reached at aganesh@withum.com.

general ledger 119

general ledger audit auditor accounting and finance 119

CPA Practice

AUGUST 11, 2023

The Department of Justice recently arrested a New Jersey tax preparer for allegedly seeking more than $124 million from the IRS. The multi-millions came from filings of over 1,000 false tax forms claiming the pandemic-related employee retention credit, also referred to as the ERTC or ERC. Treasury Department.

New Jersey 98

New Jersey tax preparation Tax auditor 98

Going Concern

APRIL 5, 2024

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.

auditor 81

auditor audit Oklahoma CPA 81

Going Concern

JULY 8, 2022

Plus, Pennsylvania accountant loves tax evasion, North Carolina CPA indicted on securities fraud charge, and Kentucky accountant gets jail time for sex trafficking. Hammer, who pleaded guilty in August 2018 to one count of filing a false tax return, was the financial officer for various companies controlled by Michael D.

North Carolina 52

North Carolina Account accountant accounted 52

Withum

AUGUST 23, 2022

It will surprise no one that taxpayers are always looking to minimize their tax bill. It’s the means that is used to minimize the tax bill that gets people in trouble. 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.

Account 59

Account accountant accounted tax return 59

Going Concern

FEBRUARY 16, 2024

Bill would let private CPAs, not state auditor’s office, audit state agencies [ Radio Iowa ] Senator Mike Bousselot, a Republican from Ankeny, IA seems to think letting CPA firms audit government books instead of the state auditor will fix the accountant shortage somehow? I’m a professional tax preparer.”

Real Estate 102

Real Estate Iowa audit CPA 102

ThomsonReuters

JANUARY 18, 2024

Accountant vs. CPA vs. tax preparer: What are the differences? Working with external auditors. Preparing tax returns. Accountant vs. CPA vs. tax preparer: What are the differences? Jump to: What are the roles and responsibilities for accountants? How can accountants be more efficient?

Account 59

Account accountant accounted tax preparation 59

Going Concern

APRIL 15, 2022

note: Happy almost Easter to those who celebrate, happy 11th birthday today to my cat Cash Money (no, I did not purposely track down a cat born on tax day when I adopted him from Humane Rescue Alliance in DC 11 years ago), and a very happy April 18th to those of you who have been working yourselves ragged leading up to this day.

accounting firms 52

accounting firms audit Account accountant 52

Snyder

MARCH 6, 2023

Public accountants usually help with accounting records, financial statements, and tax filing. At this point, public accountants should possess strong knowledge of GAAP and the tax code. Preparing tax returns The tax season is still a busy time for accountants.

forensic accounting 52

forensic accounting Account accountant accounted 52

Going Concern

OCTOBER 11, 2022

Small business has unique needs for accounting services: primarily tax and advising, and secondarily day-to-day accounting needs to act as de-facto controllers and decision makers. Frankly, the new graduates don’t even know what a W-4 is or what it is used for or how our tax system works. June 17, 2019. Suggestions.

Education 84

Education Account accountant accounted 84