Family plot; past and present; fat chance; and other highlights of recent tax cases. Princeton Junction, New Jersey: Former accounting professor Gordian A. Ndubizu has been sentenced to two years in prison for evading federal income taxes and filing false returns. He was convicted in August of all eight counts
Political and regulatory changes heavily influence the accounting industry. Shifting tax policies, new compliance laws, and cybersecurity regulations create an unpredictable landscape. CPA firms must stay ahead of these changes to avoid penalties and operational disruptions. Navigating Political and Regulatory Shifts in Accounting IT With increasing government scrutiny on data
Familiar fears for firms; 10 reminders for the season; new blog on the block; and other highlights from our favorite tax bloggers. Nothing doing The Tax Times (https://www.thetaxtimes.com): Who has access to the beneficial ownership information data submitted so far? Tax Vox (https://www.taxpolicycenter.org/taxvox): Can doing nothing grow the economy by
The White House today issued an executive order formally creating a Strategic Bitcoin Reserve as well as a U.S. Digital Asset Stockpile. The reserve will treat bitcoin, the first and most popular blockchain-based cryptocurrency, as a reserve asset. It will be capitalized with tokens owned by the Department of Treasury
The American Institute of CPAs is monitoring the situation at the Internal Revenue Service amid reports of layoffs of up to half the staff, keeping in touch with IRS officials about maintaining services during the critical tax season. “In recent weeks, there has been a flood of information regarding the
Custom-made; alter ego trip; super Genius; and other highlights of recent tax cases. Cerritos, California: Customs broker Frank Seung Noah, of Corona, California, has pleaded guilty to defrauding importers out of more than $5 million, including after he had been indicted on fraud charges, and to committing more than $1
Replacing corporate income tax; multigenerational challenge; new blog on the block; and other highlights from our favorite tax bloggers. Sledgehammer questions The fun’s in the challenge The Rosenberg Associates (https://rosenbergassoc.com/blog/): How to work through the challenges of a practice’s multigenerational workforce. Vertex (https://www.vertexinc.com/resources/resource-library/filter/field_asset_type/blog?page=0): As tax authorities worldwide mandate real-time e-invoicing,
The American Institute of CPAs is urging the Treasury Department and the Internal Revenue Service to suspend and remove their recently issued final regulations labeling some partnership related-party transactions as “transactions of interest” that need to be reported. The Treasury and the IRS issued the final regulations in January during
Professional services solutions provider Intapp, during its Intapp Amplify event in New York City on Feb. 26, announced improvements and upgrades to its solutions for time and billing, cybersecurity and AI assistant. Intapp Time Intapp Time, the company’s time tracking and billing solution, now sports an improved interface in a
The departure of audit firms from the Securities and Exchange Commission market can prove a boon for those who remain: Pennsylvania-based auditor Stephano Slack brought on the most new SEC clients in the fourth quarter of 2024 thanks to picking up engagements from an exiting firm — a repeat of