Going Concern

SEPTEMBER 25, 2023

TPB slaps 5-year ban on accountant involved in $26m fraud [ Accountants Daily ] The Tax Practitioners Board has slapped a five-year ban on a Sydney accountant charged with stealing $26 million through his firm to fund a lavish lifestyle and gambling addiction.

tax preparation 86

tax preparation Gambling Account accountant 86

Going Concern

JULY 28, 2023

According to his plea agreement, Fulton and his company provided bookkeeping, accounting, and tax preparation services for Wayne Joseph Nix, 46, of Newport Coast, a former minor-league baseball player who for nearly 20 years ran an illegal bookmaking business.

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audit Gambling Technology accounting firms 78

Going Concern

JANUARY 19, 2024

Coss, 54, was arrested Tuesday and is held in the Broward Main Jail on 18 charges stemming from an ongoing Internal Revenue Service tax fraud investigation. He owns Coss Bookkeeping & Accounting and is the registered agent of numerous other businesses, state business records show.

Arizona 73

Arizona accounting and finance audit auditor 73

Going Concern

FEBRUARY 9, 2024

Tax Betting on the Super Bowl? You gotta pay the piper’ on your winnings, says tax expert [ NBC10 Philadelphia ] All gambling winnings are considered taxable income by the Internal Revenue Service, even if you aren’t a professional gambler. “Win big?

Technology 77

Technology Colorado audit cpa firm 77

PYMNTS

OCTOBER 29, 2019

In another demonstration of the move from paper-based processes and further into digital for the tax preparation industry, services like H&R Block are getting creative by offering qualified customers instant refund advance loans. Even the growing legal gambling sector is getting into the instant disbursements act.

Gambling 40

Gambling Legal tax preparation Tax 40

ThomsonReuters

OCTOBER 12, 2023

From understanding what foreign income is to navigating various tax forms and deductions, it is important for accountants to understand the ins and outs of U.S. Consider implementing scan-and-populate solutions that automate the tax preparation process and streamline documentation. Plan ahead. Timely filing.

Tax 40

Tax tax return income tax Real Estate 40

LyfeAccounting

APRIL 8, 2021

Claiming Large Losses From Gambling. The IRS pays heavy attention to losses claimed from gambling. This is because you can only deduct gambling losses to the extent that you report your winnings. If you gamble recreationally and claim losses, the IRS will be looking to see if you also reported your winnings in your income.

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audit Gambling tax return Tax 59