Everything must go; have con, will travel; gold rush; and other highlights of recent tax cases. Deltona, Florida: Business owner David Albert Fletcher has pleaded guilty to evading payment of more than $1.7 million he owed for tax years 2004 through 2014. Fletcher owned and operated several furniture liquidation businesses
The Public Company Accounting Oversight Board is rolling out a new series of staff publications targeted at auditors of small public companies, starting with one on critical audit matters, as board members face the likelihood of a deregulatory emphasis under the incoming Trump administration and probable changes in board composition.
The Public Company Accounting Oversight Board issued a new publication Tuesday providing guidance from its staff on the auditor’s responsibilities when it comes to detecting, evaluating and making communications about illegal acts, as a controversial new standard that would toughen these requirements awaits approval. The PCAOB staff did outreach in
National Taxpayer Advocate Erin Collins is objecting to proposed regulations that would enable the Internal Revenue Service to shorten its third-party notice requirements to as little as 10 days, saying they would unfairly erode the taxpayer notice requirements. In a blog post Thursday, Collins called attention to a notice of
The Public Company Accounting Oversight Board today settled a disciplinary order sanctioning a Chinese firm for repeatedly violating PCAOB rules and failing to cooperate with the board’s investigation. The PCAOB found that JTC Fair Song CPA Firm, located in Shenzhen, China, repeatedly failed to make required filings. First, the firm
President-elect Donald Trump offered up a long list of promises during his campaign, and next year will bring a major test with the upcoming expiration of many of the provisions from his first administration’s Tax Cuts and Jobs Act of 2017. “No one has a crystal ball on what’s going
The Internal Revenue Service may be facing steep cuts in its budget with the win on Tuesday night of President-elect Donald Trump. Funding for the IRS has become a political issue, with Republicans successfully pushing to cut the extra $80 billion funding from the Inflation Reduction Act of 2022 already
The Internal Revenue Service and the Treasury Department released final regulations on the sale of property seized by the IRS through a levy for nonpayment of taxes, providing a long overdue update to rules that had been in place since at least the 1950s, and even the 19th century. “The
Cooling inflation will bring some relief in the form of slightly lower taxes next year. An average inflationary adjustment of 2.8% under IRS guidance for 2025 released earlier this month came in lower than the 5.4% hike for this year and a boost of more than 7% across the seven
Forvis Mazars is expanding in Florida through the acquisition of MSL, P.A., effective Nov. 1. The deal will add new offices in Orlando, Fort Lauderdale and Tallahassee to the firm. Financial terms of the deal were not disclosed. Forvis Mazars had annual revenues of approximately $2.2 billion in the U.S.