Bad Guys News | AccountingWEB.com

E&Y to Pay $2 Million to Settle Audit Failure Charges

02/08/2012 - 21:17 - 1801 reads

On February 8, the PCAOB announced a settled disciplinary order censuring E&Y LLP. It imposed a $2 million civil money penalty against the firm, which is PCAOB's largest civil money penalty to date. The PCAOB also sanctioned four of E&Y's current or former partners for violating PCAOB rules and standards.

Paging All Capitol Hill Staffers: Pay Your Taxes!

02/06/2012 - 15:17 - 967 reads

Mitt Romney isn't the only one in Washington, DC, with his tax returns under the microscope. According to new data released by the IRS, 3 percent of Senate employees and more than 4 percent of House members still owe tax for the 2010 tax year, adding up to approximately $10.6 million in unpaid taxes.

Teaching How to Cheat

01/30/2012 - 16:22 - 633 reads

Concerns about cheating in school are nothing new, but they usually don't include teachers. The widespread scandals of teachers cheating on standardized tests provide the wrong ethical guidance to those who will later staff and lead business organizations.

Is the IRS Being Mean to Lindsay Lohan?

01/13/2012 - 12:59 - 1815 reads

Lindsay Lohan has found herself in compromising positions before, and now she’s landed in another one. A report has surfaced that the twenty-five-year-old actress, who rocketed to fame in the 2004 film Mean Girls, is on the hook for almost $100,000 in back taxes owed to the Internal Revenue Service (IRS).

Video News Update for Week of January 9, 2012

01/09/2012 - 21:02 - 787 reads

AccountingWEB's Weekly News Update for the week of January 9, 2012 is available in video format!

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Pride of the Yankees? Hal Steinbrenner Sued by the IRS

01/03/2012 - 11:21 - 1209 reads

A lawsuit – filed by the IRS on December 27, 2011, in federal court in Tampa, Florida – aims to recover the funds issued to Hal Steinbrenner, managing general partner of the Yankees, on December 28, 2009. The refund resulted from a dispute between the Steinbrenner family and the IRS for the 2001 tax year as well as audits of the team's parent company for the 2001 and 2002 tax years.

Lawsuit Features Accounting for Nicolas Cage Film

12/12/2011 - 10:39 - 1527 reads

Nicolas Cage has faced plenty of tax troubles in the past. According to the 'Business Insider,' he currently owes over $14 million. Now a new lawsuit is targeting the accounting practices of one of his films, 'Bad Lieutenant: Port of Call – New Orleans,' a crime drama released in 2009.

Cybercrime Is on the Rise and No One Is Immune

12/07/2011 - 14:27 - 1405 reads

Magnifying_Glass,Fraud,Sneak,Spy,Fingerprint

Organizations and their managers need to take cybercrime seriously. According to PricewaterhouseCoopers' economic crime report, "Cybercrime: Protecting Against the Growing Threat," businesses face serious threats from cybercriminals, from both within and outside their organizations. The PwC report warns that cybercrime one of today's top four economic crimes.

Alabama Tax Preparer Gets Jail Time for Falsifying Tax Returns

12/01/2011 - 15:17 - 1684 reads

Chiquita Q. Broadnax, a resident of Montgomery County, AL, has been sentenced to 18 months in prison for her involvement in a fraudulent tax return perpetration scheme.

Busted: State tax investigator accused of theft

09/29/2011 - 09:34 - 1937 reads

When will a small minority of tax professionals learn that crime doesn't pay? You would think they would know better.