Accounting

Pharma fraud; foreign affairs; spreading the scheme around; and other highlights of recent tax cases. Union City, New Jersey: Former pharmacy co-owner Igor Fleyshmakher, of Holmdel, New Jersey, has been sentenced to 41 months in prison for a scheme to bribe health care professionals and for evading taxes on $33.9 million in income. The Prime
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Grant Thornton has increased its employee benefits to attract new talent and keep staff from leaving for other firms, including absorbing employee premium increases associated with its medical benefits for the 2022 calendar year to offset inflation for its workforce. The Chicago-based firm is also offering flexible work arrangements such as reduced-work schedules, compressed work
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The sustainability standard-setters who set up the Corporate Reporting Dialogue seven years ago as a way to reach common ground on their varying rules and frameworks have decided to dissolve the initiative now that an International Sustainability Standards Board is being established. The Corporate Reporting Dialogue began in 2014 and has grown to include a
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The Internal Revenue Service is extending the ability to electronically sign a number of different tax forms and compliance documents through the end of October 2023. In Memos NHQ-10-1121-0005 and NHQ-01-1121-0004, the IRS is extending the capability, which it had introduced during the pandemic so taxpayers wouldn’t need to visit their tax practitioners’ offices. The
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12 pricier days; tax preparers’ own year-end moves; state taxes galore; and other highlights from our favorite tax bloggers. Everybody’s busy season Come what may Sagenext (https://www.thesagenext.com/blog): A rundown of the year’s reforms. Palm Beach Accounting and Financial Services (https://www.pbafs.com/blog): If you’re like us and are a parent who never makes mistakes, you can skip
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The Federal Accounting Standards Advisory Board released an interpretation of the accounting rules around reporting debt cancellation for the federal government. Interpretation 11, Debt Cancellation: An Interpretation of SFFAS 7, Paragraph 313 points out that according to Statement of Federal Financial Accounting Concepts (SFFAC) 2, Entity and Display, paragraph 100 says a nonexchange activity is
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Marcum LLP, a Top 20 Firm based in New York, released its 2021 Year-End Tax Guide on Monday, providing a wide range of tax-planning strategies and considerations for next year. The 71-page report contains over two dozen articles and reference tables spotlighting recent changes in tax laws and the potential effects of pending legislation. “In
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The Supreme Court’s 2018 Wayfair decision was a sea change in the ability of states to collect sales and use taxes by redefining what could be considered taxable nexus. It was also a boon for those vendors in the software space that provide the sales tax calculations for locations that states could now claim were
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Bouncy bouncy; PPP penalty; doughnut try this at home; and other highlights of recent tax cases. Orem, Utah: Resident Louis Hansen has been sentenced to 51 months in prison for tax evasion and corruptly endeavoring to obstruct the IRS. In March 2012, Hansen gave the IRS a $342,669.41 check that he knew was drawn on
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Amber Goering The Kansas Society of CPAs elected its 2021-22 officers, directors and trustees, appointing: Amber Goering, owner, Goering & Granatino, as chair of the board; Joe Ronnebaum, PwC, as vice chair; and Norman Hope, McPherson College, as secretary/treasurer. KSCPA also elected to three-year terms on the board of directors: Kristin Cargin, Deloitte & Touche;
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The Association of Chartered Accountants, and Chartered Accountants Australia and New Zealand, released a playbook Wednesday to help accountants and their small and medium-size business clients reach their sustainability goals. The guide, How SMEs can create a more sustainable world, discusses the benefits that sustainable actions can have for both business success and the environment,
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It’s well known that people like to feel appreciated at their job — in fact, it is one of the most sought-after rewards in the workplace. Not only does it create job satisfaction, but it also results in higher productivity and employee retention while building trust and engagement. Motivation runs deeper than just money. Bonuses
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