No Relief; fakin’ it; consider it reconciled; and other highlights of recent tax cases. Atlanta: Tax shelter fraudsters Jack Fisher and James Sinnott have been convicted of conspiracy to defraud the United States, conspiracy to commit wire fraud, aiding and assisting the filing of false returns, and subscribing to false
The Securities and Exchange Commission appointed George Botic, a CPA who has served as director of the Public Company Accounting Oversight Board’s Division of Registration and Inspections, to a term as a board member, succeeding the longest-serving member, Duane DesParte, whose second term ends Oct. 24. The move will complete
Property-tax map; zero due meaning; partners’ pay differences; and other highlights from our favorite tax bloggers. Conflicting ideas Procedurally Taxing (https://www.taxnotes.com/procedurally-taxing): Favorite headline of the week: “Tax Court Sinks Depreciation Deduction for Yacht.” Tax Vox (https://www.taxpolicycenter.org/taxvox): “Congressional commissions generally serve one of two purposes. They either 1) provide political cover
Last week I wrote about Price Waterhouse being engaged to count the Oscar ballots and I mentioned a book by Mark Stevens, The Big Eight. Mark also wrote a follow-up titled The Big Six. I read them both (and also most of his other books). One day I was browsing
The Internal Revenue Service is developing a contingency plan that may result in service cutbacks in case of a government shutdown, according to the labor union representing IRS workers who face possible furloughs. House Republicans have been unable to agree on advancing any appropriations bills this week or last week
Digital asset finance platform Bitwave acquired Gilded, a crypto payments and reporting platform. The acquisition follows Bitwave’s integration of Multisig Media earlier this year. … Crypto accounting platform Ledgible partnered with Thomson Reuters to allow Top 10 Firm Forvis to use specialized crypto tax and accounting software from Ledgible, in
Charity for none; Dr. Backdate; frivolous correspondence; and other highlights of recent tax cases. Atlanta: John Crittenden, a professor of environmental engineering at the Georgia Institute of Technology and the former director of the Brook Byers Institute for Sustainable Systems, has pleaded guilty to tax fraud for lying on his
Accountant, attorney, educator, luminary of the profession, World War II veteran and Accounting Today contributor Sidney Kess died at the age of 97 last weekend (see previous story). Kess was the author of literally dozens of books and even more articles. He had personally taught over a million practitioners in
The Internal Revenue Service said Monday it plans to lower its audit rate of low-income taxpayers who claim refundable tax credits like the Earned Income Tax Credit as it increases audits of wealthier taxpayers and large companies. IRS Commissioner Daniel Werfel wrote about the “rebalancing effort” in a letter Monday
The Internal Revenue Service released a sneak peak Friday of some of the changes it’s hoping to make to the form for claiming research tax credits. The preview shows a number of proposed changes to certain sections of Form 6765, Credit for Increasing Research Activities, also known as the Research