Almost made 100; O Canada; check’s not in the mail; and other highlights of recent tax cases. Irvington, New Jersey: Tax preparer Nehemie Leon, of Roselle, New Jersey, has pleaded guilty to preparing false returns for clients. Leon was employed or self-employed as a preparer at a prep business. She
If you offer financial advisory services to your clients — either directly or through an investment advisor relationship — I urge you to review your policies, procedures and agreements soon since the rules have changed. The SEC’s new marketing rule (Rule 206(4)-1), which became effective 18 months ago, and required
Sikich LLP, a Top 40 Firm based in Chicago, signed an agreement to acquire the assets of a fellow Windy City firm, O’Malley & Kwit LLC. The deal comes shortly after Sikich’s announcement last week of its acquisition of Accelerated Growth, another Chicago firm, which Sikich views as a priority
This column marks the ninth anniversary of these “Art of Accounting” practice management columns. I am blessed to have been able to write them and to not miss an issue during this period. I also am thrilled to have been working with Michael Cohn as my editor and to have
The Treasury Inspector General for Tax Administration said that the Internal Revenue Service’s Taxpayer Digital Communication program, despite having existed for two years, could do more to improve communications with taxpayers, feeling that current efforts are a little unfocused. The recent report did note that, since the initiative was first
The Public Company Accounting Oversight Board has proposed a set of significant changes in the requirements for auditing firms’ quality control systems, in a major update from the earlier standards in place for decades. The proposed standard is part of the PCAOB’s efforts to modernize the standards it inherited 20
A recent Accounting Today guest column got me thinking. The author, a 20-year tax manager at a small regional firm, had been getting inundated with inquiries from recruiters desperate for talent. And while her pay would be substantially higher if she switched firms, she’d discovered that she’d be expected to work
Top 10 Firm Grant Thornton released its empower.x application, which guides entities through organizational changes. The new application will be used by GT professionals, leveraging data to provide a range of capacities related to internal organizational matters for their clients: Collect and store information on a client’s impacted stakeholder groups;
An estimated 99% of accountants have experienced burnout. Ongoing tax seasons, two years of COVID and being overworked have left many accountants and firm owners feeling worn out. When you’re drained and stressed, it’s not always easy to approach the workday with the same enthusiasm and passion as you once
An incorrectly formatted spreadsheet caused Iceland to price the sale of its Islandsbanki stake too cheaply earlier this year, an investigation by the National Audit Office has found. The sale of a 22.5% stake in the bank in March sparked a public outcry and led to the government pulling the
