article thumbnail

Accountants Behaving Badly: Police Department Accountant Couldn’t Be Bothered, PPP Loan Fraud, and a Creepy Tax Preparer

Going Concern

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. We were not willing to let Mr Carter continue practising.”

article thumbnail

Friday Footnotes: KPMG Pays High Schoolers 20 Bucks an Hour; Deloitte Cyberattacked Too; IRS on ERC | 7.28.23

Going Concern

The combination of too few professionals and high demand is pushing firm leaders to merge up, outsource tax work and hire non-CPAs, among other strategies. Beginning no later than 2011, Fulton was aware that Nix ran an illegal gambling business. The question now is whether year-over-year growth of 18% will continue next year.”

audit 81
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Overview of U.S. taxes on foreign income for individuals

ThomsonReuters

Tax implications for owning property abroad What is FATCA? Helping clients with foreign income tax forms For U.S. To support this effort, forward-thinking accounting firms are increasingly using tax preparation software and scan-and-populate solutions to tackle the challenges of foreign income reporting. What is FEIE?

tax 40
article thumbnail

Friday Footnotes: How Much Big 4 Spent on Lobbying Last Year; Super Bowl Bets; CFOs Feeling Good | 2.9.24

Going Concern

Big 4 Big Four Lobby Congress on Accounting Pipeline, AI, Crypto [ Bloomberg Tax ] PwC spent the most at $3.27 In a summary of the report, Linklaters said six unidentified partners outside Australia should have asked where the tax information had come from and that disciplinary action had been taken against them. “Win big?

article thumbnail

Friday Footnotes: Anyone Wanna Work in Hollywood?; Profit-Hungry CEOs Love Gen AI; KPMG’s SF Future | 1.19.24

Going Concern

Leadership PwC Vets Finalists for Top Job as Industry Meets AI, Gen Z Era [ Bloomberg Tax ] PwC’s next leader will confront the challenges of rapidly advancing technology, recruiting and training an evolving workforce, and keeping up with the needs of its core accounting clients. I get my tax documents in early. Fair enough.

Arizona 74
article thumbnail

Instant Payment Adoption Soars Year Over Year

PYMNTS

Government disbursements cover tax refunds, among other payments. Traditionally, even early tax filers must wait months to gain access to their tax refunds. Even the growing legal gambling sector is getting into the instant disbursements act. The government was ahead of the pack, with nearly one-quarter (24.7

article thumbnail

Start Now to Make Your 2024 Tax Return Easier to Do

Withum

Last year is a closed book for most transactions that will be reported on your 2023 tax return. However, there are some things you could do now that would simplify your tax return for 2024 and later years and also reduce the fees you pay a professional preparer. Here are some actions to consider.