Bug in the system, again; the category is fraudster; pit stop; and other highlights of recent tax fraud cases. Rocky Mount, North Carolina: Preparer Bertha Battle, a.k.a. “Bug,” 40, has pleaded guilty to conspiracy to prepare and file false returns. Battle conspired to file false returns for the 2013 through 2016 tax years for clients […]

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The unprecedented fallout from the coronavirus pandemic has meant unprecedented concessions by the U.S. government in a number of respects. The CARES Act’s $2 trillion stimulus package represents perhaps the largest investment in this regard, but a number of U.S. government agencies have enacted other significant rule changes to help the citizenry get through these […]

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There is an opportunity in the marketplace to develop a profitable practice in exit planning. Countless books and articles on exit planning highlight today’s ideal conditions for advisors: the aging population of business owners, and the tremendous wealth that is trapped within these businesses. How that wealth will change hands when those business owners retire, […]

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The COVID-19 pandemic isn’t stopping BDO USA from pursuing a constant series of MA deals in recent years, although the latest one had to be mostly negotiated at a safe distance. Last week, the Chicago-based firm announced it had acquired Piercy Bowler Taylor Kern, CPAs, a firm based in Las Vegas, expanding BDO’s footprint in […]

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The Electronic Tax Administration Advisory Committee released its annual report to Congress on Wednesday, featuring recommendations that focus on the prevention of identity theft and refund fraud. ETAAC’s primary focus continues to be on the fight against ID theft-related tax refund fraud, improving cybersecurity and enabling electronic tax administration while protecting taxpayer information, the 2020 […]

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The American Institute of CPAs, CPA.com and tech partner CaseWare have released OnPoint EBP, a cloud audit solution for employee benefit plans. The Institute has been working on a larger project of transforming audit; the new product fits into this plan. Like all OnPoint products, OnPoint EBP is built on the CaseWare Cloud platform. The […]

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Notices finally arriving; big breaks for Oprah and Walmart; the snares of working remotely; and other highlights from our favorite tax bloggers. What a relief Tax Warrior Chronicles (https://www.taxwarriors.com/blog): Favorite opening of the week: “We are starting to compare the Paycheck Protection Program to extra-innings in the longest baseball game ever recorded. It is now […]

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Any taxpayer who already took a required minimum distribution in 2020 from certain retirement accounts can now roll those funds back into a retirement account following the CARES Act RMD waiver for 2020. The 60-day rollover period for any RMDs already taken this year has been extended to Aug. 31. The CARES Act enabled any […]

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Victims of the April tornadoes, storms and flooding in Mississippi, Tennessee and South Carolina have until October to file various federal individual and business returns and make tax payments. The IRS is offering this relief to any area designated by the Federal Emergency Management Agency as qualifying for individual assistance. Currently this includes Clarke, Covington, […]

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The Supreme Court’s decision in South Dakota v. Wayfair, which removed the physical presence test as a requirement for states to impose sales tax nexus, has altered the sales tax landscape of nearly every state since it was decided two years ago. On June 21, 2018, the court overturned Quill Corp. v. North Dakota, a […]

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