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Shutting Down a Tech Company – Some Tax/Accounting Tips

Shay CPA

Washington. Don’t assume you’re off the hook until you have written confirmation from the appropriate authorities that your tax accounts are shut. . File away R&D tax credit and pandemic aid documentation. Copies of all tax returns and accounting records for the R&D credit year. New Jersey. General ledgers.

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

Going Concern

Financial Reporting Council (FRC) on Thursday announced it opened an investigation into accounting firm Mazars regarding its audit of financial statements at Studio Retail Group. Graham, Washington, man pleads guilty to tax fraud and aiding and assisting with false tax returns [ Department of Justice ].

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ERC IRS Audit Representation: Your Comprehensive FAQ Guide

MyIRSRelief

During an ERC audit, the IRS reviews the business’s records, including payroll records, tax returns, and supporting documentation related to ERC claims. Certain factors, such as high claim amounts or inconsistencies in reported data, may trigger an audit. ERC IRS Audit Process 2.1 What Happens During an ERC Audit?

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Friday Footnotes: EY’s Six CEO Candidates; Deloitte UK Partner Payouts Increase Again; IIA Gets Their Way | 9.29.23

Going Concern

SPAC Audit Kings: How Soaring IPO Market Ensnared Marcum, Withum [ Bloomberg Tax ] The fortunes of two mid-sized accounting firms rose and fell with the SPAC craze, sending auditors into overdrive as they vetted the financial statements of a surge of blank-check companies hunting for Wall Street’s next big deal.

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Friday Footnotes: EY Partners’ Snazzy Secret Meeting; PwC Talks Layoffs; Merger Mania! | 8.19.22

Going Concern

Documentation issues nix Secret Service award to Deloitte [ Washington Technology ] GAO has told the Secret Service it did not adequately document its best-value tradeoff analysis in the award of a $24 million chief financial officer support contract to Deloitte. ” Oh, Reddit.

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Friday Footnotes: EY Cancels Christmas; A Very Sucky PwC Report; Should We Tax Robots? | 12.23.22

Going Concern

Trump tax controversy fuels passage of presidential audits bill [ POLITICO ]. Bit of a long read but interesting nonetheless: When Congress’ Joint Committee on Taxation investigated the IRS audits of Donald Trump’s taxes, an agent’s note on Trump’s 2017 filings stood out.

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Monday Morning Accounting News Brief: Watch That Utilization; PwC CEO Doesn’t Know His Own Salary | 2.19.24

Going Concern

Fun President’s Day fact: although the third Monday in February is meant to recognize the birthdays of both first president George Washington and original hipster Abraham Lincoln, only Washington’s birthday — February 22 — is officially recognized in federal law ( 5 U.S. Everyone’s out buying mattresses.

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