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The trustees of the Financial Accounting Foundation are looking to fill three slots on the Private Company Council. The open positions on the council, which advises the Financial Accounting Standards Board on issues related to private companies, include spots for a CPA practitioner from a local, regional or national firm, a financial statement preparer, and […]
Finance executives see areas for improvement in their organizations, but don’t have the technology budget to match. Monthly reporting is the main area finance executives think could use process improvement, followed by budget and forecasting, a recent survey has revealed. Cash flow management was also an area of concern. However, investing in technology, which could […]
The International Public Sector Accounting Standards board is looking for input on public sector accounting for “heritage items” – assets that are meant to be preserved for their rarity, cultural value or other significance. The board has released a consultation paper, Financial Reporting for Heritage in the Public Sector, and is looking for comments. It […]
In the latest episode of a string of financial woes for Beverly Hills, 90210 alum Tori Spelling, the IRS has reportedly emptied her and her husband’s bank accounts of an unknown amount of money. It was in 2013 that Spelling first alluded to financial trouble in an interview with People magazine. She hadn’t bought a […]
The Oregon Society of Certified Public Accountants (OSCPA) and the OSCPA Educational Foundation announced this week the recipients of their 2017-18 academic scholarships. 45 top students were awarded with scholarships ranging from $1,000 to $3,000, for a total of $95,000 donated in all. Students were honored for both their academic performance and desire to earn […]
(Bloomberg) Undeterred by his last failure, President Donald Trump is pressing again to repeal and replace the Affordable Care Act. One big reason is that he believes getting rid of Obamacare would make it easier to finance the big tax cuts he’s promised. “We will save perhaps $900 billion,” Trump told Fox Business in an […]
(Bloomberg) TurboTax, the reigning king of online tax preparation, is facing some particularly strong competition this year. Arch rival HR Block started the 2017 tax season aggressively, touting a collaboration with IBM’s supercomputer Watson and free online returns. Credit Karma, a credit monitoring website claiming more than 60 million members, elbowed its way into the […]
As Tax Day looms near, many individuals are likely scrambling to gather their 2016 tax documents to avoid missing the filing deadline. This year’s “extension” to April 18 may have contributed to an atmosphere of procrastination: According to an IRS interim results report, early March filings for 2017 were down 8.5 percent from 2016. And […]
As taxpayers and tax professionals race to finish up their tax returns by April 18, or opt to file for an extension, there are still a few last-minute things they can do, along with plenty of think about for next year. “There’s not a lot of last-minute tax planning that can be done, but there […]
Maryland red lights more preparers; gambling with ill-gotten gains; deli defrauding; and other highlights of recent tax cases. Oxnard, Calif.: Preparer Rodrigo Pablo “Paul” Lozano, a.k.a. “El Profe,” 61, has been sentenced to 10 years in prison for his participation in a conspiracy to prepare and file some 12,825 fraudulent income tax returns that claimed […]
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