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Friday Footnotes: Ex-CPA Leaves Clients in the Lurch Before Tax Day; EY Layoffs; More ERC Concerns | 4.12.24

Going Concern

electric carmaker Tesla, has failed to properly reflect fines in its financial statements and was issued a “qualified opinion” from an accounting firm on April 10. billion won in corporate taxes, but its management team recorded the amount as a receivable in its financial statements. Tesla Korea was subjected to 25.1

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ERC IRS Audit Representation: Your Comprehensive FAQ Guide

MyIRSRelief

Businesses should be prepared to provide documentation supporting their ERC claims, including payroll records, financial statements, employment tax returns, and any other relevant records. What Documentation is Required During an ERC Audit? Can I Seek Professional Representation During an ERC Audit?

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Promotion Watch ’24: Moss Adams Adds 20 Partners to the Roll

Going Concern

Pat Hoppa (Kansas City, Communications & Media Practice). Financial Services Practice). Hughes provides financial statement audit services for various financial institutions, primary mortgage companies, public and privately held community banks, credit unions and other specialty lenders.

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When a Bank Fails, People ‘Lose Faith’ in the Auditors

Going Concern

“We found that depositors — people who have money at banks — lose faith in an auditor when that auditor is associated with another bank that fails,” said Matthew Beck, assistant professor of business at the University of Kansas. It’s published in The Accounting Review.

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Friday Footnotes: Deloitte’s Naughty Workpapers; Audit Reform Critics; Clients Getting Dropped Like Mics | 3.4.22

Going Concern

in Tax Season ‘Chaos’ [ New York Times ] At the Internal Revenue Service’s sprawling Kansas City, Mo., who started working at the facility in Kansas City last June and is transitioning to become a tax examiner. Antar (@SamAntar) March 4, 2022. Decades of Neglect Leave I.R.S.

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All About the SSBCI for Skagit County Business Owners

SkagitCountyTaxServices

Earlier this year, Hawaii, Kansas, Maryland, Michigan, and West Virginia got almost six hundred and forty million combined. Then, as you would for any business loan, collect financial statements, credit reports, and other key documents and fill out the loan application. Another route would be to reach out to your state directly.

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What’s Hot on Checkpoint for Federal & State Tax Professionals?

ThomsonReuters

In this edition, we take a look at the recently enacted corporate alternative (book) minimum tax; new elections to convert credits to cash or tax payments; changes to the electric vehicle credit; recent legislation in Kansas, Kentucky, and Missouri; and state taxation of forgiven student loans.

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