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Guide to accountant responsibilities

ThomsonReuters

Jump to: What are the roles and responsibilities for accountants? Accountant vs. CPA vs. tax preparer: What are the differences? GAAP and AICPA What issues should accountants be aware of in the profession? How can accountants be more efficient? So, what are the differences?

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Friday Footnotes: Accounting’s Big Lie; BDO Poaching; EY Partners Get Whipped | 10.07.22

Going Concern

Accounting’s Big Lie — and How to Fix It [ Project on Government Oversight ] A colossal conflict of interest compromises the auditing of public companies and the financial security of everyone who depends on them. The Project On Government Oversight is planning a conference on what to do about it. Attorney Nick Brown.

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Guide to taxes for U.S. citizens living abroad

ThomsonReuters

The specific forms you need to file depend on your financial situation and the tax benefits you’re eligible for. Paying taxes on money earned abroad Living abroad doesn’t exempt U.S. citizens from their tax obligations to the U.S. Report foreign financial accounts. File using Form 1040.

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Foreign asset reporting and Form 8938 explained

ThomsonReuters

For accountants, understanding how to navigate foreign asset reporting is essential, as the IRS requires taxpayers to report certain foreign assets to ensure compliance and combat tax evasion. If you work with individuals and businesses with financial interests abroad, Form 8938 may be required. Generally, any U.S.

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Friday Footnotes: Retired EY Partners Hate on the Split; It’s a Raid!; ‘An Alphabet Soup of Technology’ | 11.18.22

Going Concern

The superseding indictment alleges that Garza directed clients to use hand-picked CPAs and other tax professionals, including McDonnell, Richardson and Fenton. an accounting, tax preparation, and legal services business located in Waxahachie. Fenton allegedly was employed as a tax manager at McDonnell Richardson.

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What Happens if You Don’t Report Cryptocurrency on Taxes?

inDinero Tax Tips

The anonymous and decentralized nature of blockchains have led many to believe their crypto trades are hidden from the government. You should consult your tax preparer about any state capital gains tax liabilities in your state. As many IRS audits and prosecutions have shown, this is not the case.

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Friday Footnotes: Disengaged Team? Do This; Deloitte’s Huge India Expansion; Auditors Yelled At…Again | 3.24.23

Going Concern

Tax The IRS plans to tax some NFTs as collectibles — and the rich would pay up to 28% on profits [ CNBC ] The IRS said it plans to tax some non-fungible tokens, or NFTs, as collectibles akin to art or gems — an approach that would tax profits for wealthy owners at a higher rate relative to assets such as stocks, real estate and cryptocurrency.

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