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Teemco player; reverse that merger!; ATM gamble doesn’t pay off; and other highlights of recent tax cases. Phoenix: Preparer Oscar Hernandez, 58, has been sentenced to 18 months in prison and ordered to pay $121,548 in restitution to the United States. In 2004 Hernandez, who worked as a preparer for nearly 25 years, opened the […]
Lost amid the confusion of the federal government shutdown this year was a new set of penalties the IRS began to issue as part of the agency’s ongoing enforcement of the Affordable Care Act. In the final days of 2018, the agency started issuing notices to assess penalties against employers that failed to file Forms […]
Accounting firm RoseRyan has created a consultancy called Kukuza Associates to focus on servicing businesses in the growing cannabis market. Kukuza will concentrate on offering finance and accounting services for cannabis companies. RoseRyan is based in Newark, California, and the state’s voters approved legalization of recreational marijuana in 2016. Two new laws regulating the industry […]
Eurofins Scientific SE, the laboratory-testing company facing criticism for its corporate governance, will no longer use an auditor for its Luxembourg subsidiaries who was contemporaneously signing off on the accounts of businesses controlled by the company’s largest shareholder. The use of the same auditor, Erik Snauwaert, by both the company and its largest investor, Chief […]
The Financial Accounting Standards Board issued an accounting standards update Tuesday clarifying some of the disclosure and implementation requirements of the new leasing standard. The new leases standard will put operating leases on the balance sheet of many companies for the first time. The standard takes effect for public companies this year and for private […]
Certify and Chrome River Technologies are combining in a transaction valued at over $1 billion, uniting two companies that specialize in travel and expense management and invoicing software. K1 Investment Management will hold a majority stake in the combined company, while the two organizations’ existing shareholders, including the company founders and Bain Capital Ventures, a […]
Stress and other disasters; federal deductions and income segregation; Olson’s retirement; and other highlights from our favorite tax bloggers. Amidst the hullabaloo TaxMama (http://taxmama.com): Mama looks at the recent crop of extended extenders that “will buy us two years of (relative) certainty about our tax lives.” SageNext (https://www.thesagenext.com/blog): “Amidst the hullabaloo of the possible government […]
Certified Management Accountants earn 57 percent more in median salary and 55 percent more in median total compensation than non-CMAs, according to a new global salary survey by the Institute of Management Accountants, which administers the certification. The differences were even starker on last year’s survey, though, when CMAs earned 62 percent more in median […]
Big Four firm EY has debuted its Crypto-Asset Accounting and Tax tool, a technology solution designed to facilitate accounting and tax calculations for cryptocurrency transactions. Coming as a slew of large accounting firms are opening cryptocurrency and blockchain services for clients, the U.S. rollout of CAAT is part of EY’s stated strategy to “lead the […]
Thomson Reuters has scheduled its 12th annual series of partner summits for tax and accounting professionals. The series, “Partner Summit: Moving Your Practice Forward,” is limited to 80 attendees per city. Mark Martukovich, managing partner of FMA CPA, returns this year as the featured practitioner presenter to share his insights about how his firm’s focus […]
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