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How a Credit is not the Same as a Refund (Procedurally Taxing) - On April 4, 2018, the Eleventh Circuit ruled in Schuster v. Commissioner that a credit applied to a taxpayerâs account is not the same thing as a refund. This was bad news for the taxpayer. Sometimes the IRS messes up when it applies payments, and mistakenly gives the taxpayer an account credit or a refund that the taxpayer did not deserve. ADVERTISEMENT Share our news via Twitter and Facebook, on your personalized news page. MORE HEADLINES Tooth Fairy Inflation: Kids Now Receive Average of $3.25 Per Tooth (CPA Practice Advisor) - The tradition of the Tooth Fairy has been around since the early 1900s. Whereas some households might place an item like a toothbrush underneath a child's pillow after losing a tooth, the most popular ritual is leaving a monetary gift. Netflix Accused of Violating U.S. Tax Law in Bonuses to Top Executives (Hollywood Reporter) - When Congress passed sweeping tax changes at the end of last year, Netflix became one of the first companies to restructure its compensation to top executives. IFAC Estimates Fragmented Regulations Cost $780B (Accounting Today) - The report estimates that regulatory divergence, which refers to inconsistencies in regulation between different jurisdictions, costs financial institutions between 5 to 10 percent of their annual revenue turnover. Planet Hunter in Search of New Worlds (USA Today) - TESS, the Transiting Exoplanet Survey Satellite, is the next step in the search for planets outside of our solar system. Taxation Accounting/Audit |  TOP 5 MOST READ TOOLS OF THE TRADE e-BREAKS  Ellen Calls H and R Block   |