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The Internal Revenue Service held a meeting of its Security Summit partners Tuesday in Dallas and reported on progress in battling identity theft tied to tax refund fraud, along with some setbacks. The IRS said it has been seeing an increase in identity theft from business and partnership tax returns, fueled in part by cybercriminals […]
A company website can be a simple display of credentials, loaded with content and interactive functionality, or somewhere in between. For accounting firms, a business case can be made for any level of website complexity, but no matter how simple or complicated the site is, certain elements must be there. Without these four, a firm […]
In a deal the companies managed to keep quiet until finalized, U.K.-based Sage Group has bought Intacct for $850 million. Intacct will be known as Sage Intacct going forward. The acquisition combines two of the leading companies in cloud accounting and financial management software. Founded in 1981, Sage has an established presence in the United […]
The Tax Court has denied a claimed charitable deduction of $33,019,000 by RERI Holdings, whose principal investor is Miami Dolphins owner Stephen Ross. On its 2003 tax return, RERI Holdings claimed a charitable contribution deduction for the transfer of a noncash asset—a remainder interest in property—to the University of Michigan. RERI had paid $2.95 million […]
The Sarbanes-Oxley Act was signed into law on July 30, 2002 and has led to vast changes in the accounting profession, although not necessarily in corporate ethics. A recent survey by Deloitte found that more than half (52.4 percent) of C-suite and other executives said global corporate ethical behavior has improved since the enactment of […]
More than 24,000 fraudulent tax returns were filed in 2015 using a prisoner’s Social Security Number, claiming refunds totaling over $1.3 billion, according to a new report. The report, from the Treasury Inspector General for Tax Administration, found the IRS did not screen and verify many prisoner tax returns for signs of fraud. TIGTA identified […]
Darren Root, founder of accounting firm membership network Rootworks, has created a new software platform called Liscio. The product is a “client experience platform” designed to facilitate the full spectrum of front-end client-firm interaction. The Liscio platform features client on-boarding, signature capture, client messaging, information requests and other front-stage capabilities. “We know that many firms […]
Qvinci Software, which makes cloud-based financial data consolidation software, has been awarded a patent for its technology in Australia. This patent marks the Austin, Texas-based company’s first entry into the Australian market. Qvinci’s solutions integrate with QuickBooks, Xero, MYOB and Excel to consolidate financial data and perform syncing, mapping, reporting, business intelligence and workflow management […]
ZipBooks adds transaction types to software, and prepares to generate 1099 forms by end of year ZipBooks has added three new create buttons to the transactions section. Instead of clicking the green “plus” button to create a new transaction, it now expands out to allow the user to create an expense, deposit, transfer, or custom […]
New York Sax Wealth Advisors acquires Sterling Portfolio Management Details: Sax Wealth Advisors, a subsidiary of the accounting firm Sax LLP, has acquired Sterling Porfolio Management, a wealth management firm based in Tuxedo, N.Y. Financial terms of the deal were not disclosed. Sterling founder Gregory Duffy has grown his firm to nearly $40 million in […]
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