Accountants are justly proud of their status as their clients’ most trusted advisor — but trust is no longer enough to thrive in a hyper-complex environment, according to Sue Coffey, the CEO of public accounting at the Association of International Certified Professional Accountants. “The world is a very complex place
Expensive and exotic; a piece of the rock; CRAT’s all, folks; and other highlights of recent tax cases. Williamstown, New Jersey: Resident Christian L. Whittaker has pleaded guilty to filing false claims against the Internal Revenue Service. Whittaker prepared, e-signed and filed false 1040s for 2016 to 2019. He claimed
The Supreme Court issued a unanimous ruling in favor of a 94-year old Minnesota woman whose condominium was seized by the county for $15,000 in unpaid real estate taxes, interest and penalties, and sold for $40,000 without turning over the remainder to the taxpayer. In the decision, handed down on
Abdo LLP, a Minnesota firm that’s also a Regional Leader, announced a merger with local firm HG&K, Ltd. Effective June 1, the newly combined firm will continue to operate under Abdo’s name, with HG&K’s three partners and 16 staff members joining the team. “Abdo might be 60 years old, but
HW&Co., a Regional Leader firm based in Cleveland, Ohio, merged in ECS Billing & Consulting South, Inc. (dba ECS Solutions), a provider of billing, revenue cycle management and consulting services to the skilled nursing, home health and hospice markets. As part of the deal, over 30 employees from ECS Consulting
New York City-based Regional Leader LMC has taken on a strategic investment from Ascend, a strategic partner for regional accounting firms that is backed by private equity firm Alpine Investors. As is common in private equity deals with accounting firms, LMC will adopt an alternative practice structure: LM Cohen &
The Internal Revenue Service’s alternative dispute resolution programs for mediating tax issues between taxpayers and the agency can be faster and cheaper than the usual appeals process, but use of the programs fell by two-thirds over the past decade, according to a new report. The IRS doesn’t have enough information
The American Institute of CPAs sent its members to visit lawmakers on Capitol Hill to advocate for various bills last week during the annual spring meeting of the AICPA Council in Washington, D.C. Among the main issues on the agenda were a congressional resolution on the fiscal state of the
In 2021, when a ripple of notifications lit up the iPhones of Apple users prompting them to upgrade their operating systems, a tsunami of Christian Rivera’s clients were forced out of business. The iOS 14 upgrade allowed users to opt out of being tracked for targeted ads across apps, a
House Republicans introduced legislation Thursday aiming to prevent the U.S. from participating in the multinational tax changes the Biden administration helped negotiate with the Organization for Economic Cooperation and Development. House Ways and Means Committee Chairman Jason Smith, R-Missouri, along with the rest of the Republicans on the tax-writing committee,