The Internal Revenue Service’s audits of business tax returns have declined steeply in recent years, thanks to successive rounds of budget cuts, according to a new analysis.
 
 
Accounting Today
 
 
Home  |  Subscribe
 
 
 
Daily Edition
 
 
Mar 17, 2016
 
 
 
Top Stories
 
IRS Business Audits Plummet Due to Budget Cuts
by MICHAEL COHN
 
The Internal Revenue Service’s audits of business tax returns have declined steeply in recent years, thanks to successive rounds of budget cuts, according to a new analysis.
READ MORE »
 
Clayton & McKervey President Kevin McKervey Has Died
by MICHAEL COHN
 
Clayton & McKervey, Detroit-area CPA and advisory firm, is mourning the loss of its president, Kevin McKervey, who died Sunday at the age of 61.
READ MORE »
 
 
Contain
 
AICPA Works on Combating Tax Refund Fraud
by ROGER RUSSELL
 
With a 400 percent surge in reported phone and email phishing and malware schemes this tax season, the American Institute of CPAs is working with Congress, the Internal Revenue Service and its members to combat tax-related identity theft and tax return fraud.
READ MORE »
 
 
SPONSOR CONTENT
Do you know your True CPA type? Only one way to find out...
 
Every CPA is driven by different skill sets, motivations and interests. Take this 7-minute quiz and discover what you have in common with other accountants in our professional community. Are you a Balance Seeker? A Traditionalist? A Networker? An Independent? You may be surprised what you learn.
TAKE THE QUIZ TODAY »
 
 
Mergers Lead to Intercompany Accounting Risks
by MICHAEL COHN
 
Mergers and acquisitions are prompting companies to take risky accounting maneuvers, warns a new report from Deloitte.
READ MORE »
 
The Radical CPA and Veltig partner to support launch of Sage Live in Chicago
by SEAN MCCABE
 
Jody Padar, principal of New Vision CPA Group and author of The Radical CPA: New Rules for the Future-Ready Firm, will be partnering with Donal de Paor and Veltig - the salesforce solution consulting and implementation partner - to support the launch of Sage Live in Chicago, the two announced on Wednesday.
READ MORE »
 
 
Contain
 
PCAOB Sanctions Broker-Dealer Audit Firms
by MICHAEL COHN
 
The Public Company Accounting Oversight Board announced settled disciplinary orders Tuesday sanctioning five audit firms for violating independence requirements in connection with audits of brokers and dealers.
READ MORE »
 
Hire a Great Accountant with a Strong Job Description
 
Hire a Great Accountant with a Strong Job Description
by BEN HUTT
 
Avoid wasting both your time and your candidate’s time the next time you decide to hire an accountant. It’s easier than you might think and starts with developing a clear, focused and well written job description.
READ MORE »
 
 
Grand Canyon University's 'Money Week' preps students on finance basics
by SEAN MCCABE
 
The Colangelo College of Business at Grand Canyon University is holding its first annual "Money Week" March 14-16 in order to educate students on financial and savings basics, per GCU Today. Professors from Colangelo and other financial experts look to educate students with concise, 20-minute discussions on basic topics ranging from tackling credit card debt to structuring a budget.
READ MORE »
 
SAP Expands Its Reach with Merger Activity
by MICHAEL COHN
 
Business software giant SAP has been going beyond its traditional enterprise resource planning specialty to expand into areas such as supply chain management, travel and expense management, and the Internet of Things.
READ MORE »
 
EY, EMC Align for Cybersecurity, Cloud, Analytics Offerings
by DANIELLE LEE
 
EY and EMC announced a strategic alliance to provide clients with tools and service offerings for their strategic initiatives and technology implementations.
READ MORE »
 
Jersey Tax Preparer Indicted
 
The owner and operator of Grant Tax Service, a tax preparation business in Vineland, N.J., has been indicted by a federal grand jury on 18 counts of aiding and assisting in the preparation of false tax returns and five counts of filing false income tax returns.
READ MORE »
 
FASB Streamlines Move to Equity Method of Accounting
by MICHAEL COHN
 
The Financial Accounting Standards Board has issued an accounting standards update making it easier for companies to transition to the equity method of accounting.
READ MORE »
 
Apple Tells EU Tax Panel It 'Pays Every Cent' Due in Ireland
by STEPHANIE BODONI
 
Apple Inc., facing a European Union probe into its fiscal affairs in Ireland, told a panel of EU lawmakers Tuesday it pays all taxes due in the nation and doesn’t get an unfair advantage compared with other companies there.
READ MORE »
 
Trifecta of Accounting Standards Hitting Nonprofits
 
Trifecta of Accounting Standards Hitting Nonprofits
 
Lee Klumpp of BDO USA describes in this video the trends in accounting standards that not-for-profit organizations are dealing with.
READ MORE »
 
 
 
Contain
 
 
 
Slideshows
 
Image
 
Top 10 Form W-2, 1099 and 1095 Myths vs. Realities
 
Greatland Corporation has compiled a list of misconceptions when it comes to tax-reporting requirements. Failing to understand the real truth behind these myths can cost a business extra money to file again or, even worse, to pay steep fines if reporting is not done in compliance with regulations.
READ MORE »
 
 
Image
 
The Fastest-Growing Firms in the U.S.
 
The firms with the highest 2015 revenue growth from our Top 100 Firms/Regional Leaders list
READ MORE »
 
 
SEE ALL SLIDESHOWS »
 
 
 
Contain
 
White Papers
 
Addressing the Indirect Tax Challenges Facing Communication Providers
 
Addressing the Indirect Tax Challenges Facing Communications Providers, an Aberdeen Group white paper brought to you by Avalara, outlines key obstacles communications service providers face in tax management.
READ MORE »
 
Seizing the Opportunity: How Accountants Can Move Beyond the Challenges to Offer Financial Planning
 
Accountants are often their clients' most trusted advisors, and they possess highly specialized financial skills.
READ MORE »
 
MORE IN WHITE PAPERS »
 
 
 
Web Seminars
 
Helping Business Clients Thrive with Fiscal Analytics
 
Businesses generate financial statements, but have difficulty extracting actionable data from those reports.
READ MORE »
 
The Secrets of the Top 100 Firms
 
Accounting Today