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With impactful reforms rolling out on a consistent basis, many small to midsized health care organizations are struggling to remain profitable as they survive reimbursement cuts, while larger organizations seek to grow their market share and achieve economies of scale, and as a result, the industry has experienced a major uptick in mergers and acquisitions. […]
Nominees down under; 22 years of inaccurate returns; shell games; and other highlights of recent tax cases. Orono, Minn.: Businessman Scott Phillip Flynn, 55, has pleaded guilty to one count of conspiracy to defraud the U.S. and one count of filing a false return. According to his plea and documents filed in court, between 2005 […]
The U.S. Supreme Court’s recent decision on states’ authority to collect sales tax from online retailers will have far-reaching implications for domestic businesses, unless states and policy makers act to reduce the compliance burden and prevent an unfair advantage. The 5-4 opinion in Wayfair v. South Dakota authored by Justice Anthony Kennedy overturned a 1992 […]
KPMG LLP is nearing completion on the exterior construction of the building in Orlando, Florida, that will house its future learning, development and innovation center, marking the occasion Wednesday with a ceremony honoring the construction crew and designers as the final beam was placed atop the structure. The $450 million facility at Lake Nona in […]
Rick Gates, the star witness in Paul Manafort’s fraud trial, concluded his testimony Wednesday with high drama. After only eight minutes with defense attorney Kevin Downing, a prosecutor asked questions designed to restore his credibility in the eyes of the jury. Downing then stepped back in with a bombshell, suggesting Gates’s “secret life” included multiple […]
Even though financial service organizations have tight security for the protection of account transactions and processing between the customer and automated systems, what does your organization have to do to ensure compliance with federal mandates to protect the privacy of financial, investor and personal data that’s visible to your employees? One crucial requirement is an […]
Paul Manafort’s former accountant was fired from a Virginia firm after she told the court she was aware that Manafort’s tax returns contained false information. Cindy Laporta testified Friday in the government’s case against the former Trump campaign chairman, saying she went along with the scam because she was worried Manafort and his right-hand-man Rick […]
Helping injured vets; donation changes; states conforming to the TCJA; and other highlights from our favorite tax bloggers. Blood from stones National Taxpayer Advocate (https://taxpayeradvocate.irs.gov/about/nta-blog): A look back on the 20th anniversary of the Low Income Taxpayer Clinics. TaxMama (http://taxmama.com): We all know that you cannot get IRS refunds if you file for them more […]
Accounting professionals, as the stewards of financial information, have a unique opportunity to take the lead in adopting the new lease guidance and implementing lease accounting software. Approaching the adoption methodically, which includes collecting data, making policy decisions, and applying operational realities, accountants play a distinct role in developing the processes and implementing the systems […]
The Internal Revenue Service doesn’t have a coordinated strategy in place to deal with unregulated tax preparers, according to a government report. The report, from the Treasury Inspector General for Tax Administration, pointed out that because the IRS’s effort to regulate preparers was invalidated as a result of litigation, tax return preparers are generally unregulated, […]
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