News
The Internal Revenue Service wasted $22.7 million auditing tax returns that resulted in no additional revenue for the federal government, according to an agency watchdog.
IRS wasting millions on audits with no results, watchdog says
CPAs have a unique view into their clients who will exit their businesses in the not-too-distant future.
The extension also applies to Americans living abroad who would otherwise generally have had a filing deadline of June 15.
Bug in the system, again; the category is fraudster; pit stop; and other highlights of recent tax cases.
The federal government’s quick action to issue stimulus payments in the wake of the coronavirus crisis led to more than a billion dollars of fraudulent payments, while slow action to address the health risks might have worsened the outbreak, according to a report by a government watchdog.
Wirecard AG filed for insolvency, the culmination of a stunning accounting scandal that led to the arrest of its CEO and left the German payment-processing firm unable to find over $2 billion missing from its balance sheet.
Top Democrats in the House and Senate are backing a measure that would deny coronavirus aid to companies that moved their official headquarters offshore to avoid U.S. taxes.
Democrats want to block stimulus for companies moving offshore
Taxpayers who are owed a refund may also get a second check this year if they took advantage of the July 15 extended filing deadline, according to the Internal Revenue Service.
Accounting firm leaders need to hold fast to growth principles in changing times.
The pandemic has created many great opportunities for finance pros to help their clients.
