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Martial miscreants; Capital crime; what a dump; and other highlights of recent tax cases. Fresno, Calif.: Longtime IRS employees Della Ornelas, 49, and Randall Ruff, 53, have pleaded guilty to aiding others in the preparation of false returns and making their own fraudulent returns as employees of the U.S. government. According to court documents, between […]
Net fees at accounting firms grew at an average rate of 7.8 percent, according to the latest edition of the annual Rosenberg Survey, but the ages of partners seemed to trend downward slightly. The 19th annual edition of the survey polled 347 CPA firms with between $2 million and $20 million in annual revenue, asking […]
The National Association of Black Accountants said Wednesday its president and CEO, Jina Etienne, has resigned. Etienne became head of NABA only two years ago, in September 2015. Previously she was director of taxation, tax ethics and professional standards at the American Institute of CPAs’ Tax Section. Etienne will continue to work with NABA chairman […]
More than half of organizations don’t have any budget set aside for fraud prevention or risks, according to a new survey by the Association of Certified Fraud Examiners. The ACFE survey found that 38 percent of the anti-fraud professionals polled around the world said their organization was unable to identify or address the fraud risks […]
The Financial Accounting Standards Board proposed a 2018 GAAP Financial Reporting Taxonomy and, for IFRS filers, a Shared Reporting Taxonomy on Tuesday, asking for public comments on the files. The proposed 2018 GAAP Financial Reporting Taxonomy includes updates for the latest accounting standards and other recommended improvements. The proposed 2018 Shared Reporting Taxonomy contains elements […]
The Protecting Americans from Tax Hikes Act of 2015 significantly enhanced the Research and Development Tax Credit Program on a myriad of levels by making the program a permanent tax incentive within the Tax Code and considerably restructured the program. The program allows eligible small businesses (i.e., with $50 million or less in gross receipts) […]
President Donald Trump promoted a tax overhaul as essential to boosting economic growth as he huddled Tuesday at the White House with his advisers and the congressional leaders shepherding his push to overhaul the nation’s tax code. “We’re going to cut taxes,” Trump vowed during a Roosevelt Room meeting with the so-called Big Six tax […]
TFC Consulting, a provider of accounting services to government entities, was born out of serendipitous meetings, a few business pivots, and survival instincts. Now, the Rockville, Md.-based accounting firm has served more than 30 federal agencies, experienced explosive staff growth over the past five years, and received a Contractor of the Year Award from American […]
I have seen firms that use time sheets provide staff evaluations based on total chargeable hours, the ratio of chargeable hours to total hours, realization based on their time charges and sometimes collections per hour they charged. This is then compared to other staff at similar levels to determine “performance.” Alternatively I know firms that […]
HR Block announced that for its fiscal 2018 first quarter ended July 31 its total revenues were $137.8 million, up from the prior-year $125.2 million. However, the company reported a net loss of $130.6 million, up from the prior-year $123.7 million. The prep-chain giant said in a statement that revenues were impacted by increased tax […]
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