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Accounting Mistake Caused Pentagon to Overestimate Cost of Weapons Sent to Ukraine by $6.2B

CPA Practice

By Matthew Adams, Stars and Stripes (TNS) The Defense Department overestimated the value of the weapons and equipment sent to Ukraine by $6.2 These evaluation errors in no way limited or restricted the size of any of our [presidential drawdown authorities], or provision of support to Ukraine.” To date, the U.S. To date, the U.S.

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Tax-deductible Donations to Ukraine: Employee PTO Donations

Patriot Software

Russia’s invasion of Ukraine has people across the U.S. thinking of ways to donate to the Ukrainian people. Businesses giving charitable donations, like money and property, are common. But, there are other ways to contribute. Employees can make PTO donations to Ukrainian refugees to help raise money for those in need.

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IRS Announces Tax Relief for Leave Donations to Aid Victims of the Further Russian Invasion of Ukraine

ThomsonReuters

The IRS has announced special tax relief for leave-based donation programs set up by employers to aid victims of the “further Russian invasion of Ukraine” that began on February 24, 2022. IRS Notice 2022-28 (May 19, 2022). Available at [link]. Such payments need not be included in Box 1, 3, or 5 of the employee’s Form W-2.

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Supporting our Team and Standing with Ukraine

Snyder

Here at Synder, we’ve been saddened by the situation in Ukraine and fully stand with Ukraine against the aggression of Russia. Unfortunately, this also included the region of the conflict where we had our R&D team located (Belarus and Ukraine). The freedoms and rights I lacked in Belarus were plentiful in Ukraine.

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Big 4 Firms Condemn Russia’s Invasion of Ukraine, But Will They Sever Relationships With Any Russian Clients? (UPDATE)

Going Concern

When Deloitte’s global HQ posted a statement on its website on March 1 (see below in original post from Tuesday), the firm said it had “suspended business operations and client service in Ukraine as we focus on taking care of our people and their loved ones.” Deloitte, PwC, EY, and KPMG have offices in both Russia and Ukraine.

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Grant Thornton Drops Its Russian Affiliate Over Conflict In Ukraine

Going Concern

In a two-paragraph statement posted on its website yesterday, Grant Thornton International said that the firm’s affiliate in Russia, FBK Grant Thornton, is no longer a member of the exclusive GT club: In light of the conflict in Ukraine, FBK, the Grant Thornton member firm in Russia, is leaving the network with immediate effect.

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Ukraine to Citizens – No Taxes Due on Captured Russian Tanks

Dent Moses

Interesting article from CPA Practice Advisor on Ukraine Tax Authority’s position to pass on captured spoils of war. Ukraine Says No Taxes Due on Captured Russian Tanks. The post Ukraine to Citizens – No Taxes Due on Captured Russian Tanks appeared first on Dent Moses, LLP. Spoils of War? tax laws. ??.

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