Massachusetts news

Tax

Internet Sales Tax Clears Senate Hurdle

New legislation authorizing the states to collect sales tax from companies peddling their wares online breezed through the Senate on May 6 by a wide 69-27 margin. But the Marketplace Fairness Act is expected to face much tougher opposition in the Republican-controlled House of Representatives.
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Tax

IRS Warns of Tax Scams Following Boston Marathon Tragedy

Since the bombings at the Boston Marathon on April 15, millions of dollars have been donated by people and businesses from across the country to help the families of the three people killed in the attack and those who suffered severe injuries.
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Tax

Marathon Bombing Aftermath: IRS Extends Tax-Filing Deadline for Boston Residents

UPDATE: Boston-area taxpayers and others affected by the tragedy at the Boston Marathon earlier this week now have until July 15 to file their taxes or make payments.
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Tax

Online Sales Tax Court Decision Could Set Stage for Supreme Court Showdown

A court ruling last week that upholds a decision to force online retailers to collect New York State sales tax may force a Supreme Court battle or action by Congress to allow states to claim tax revenues they've lost to online purchases.
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Education & Careers

Students Score Prime-Time Win in AICPA Competition

Move over "CSI." A team of high school students from Batavia, Illinois, recently came up with a new idea for a prime-time TV drama based on forensic investigation that earned them first place in the American Institute of CPA's Project Innovation: Start Here, Go Places. Competition of Creative Excellence.
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Education & Careers

Author Cornwell Wins $50.9 Million Lawsuit against Financial Manager

Best-selling writer Patricia Cornwell won a $50.9 million judgment February 18 after a federal court jury in Boston unanimously found her former accounting and business management firm negligent.
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Practice

Patricia Cornwell Sues Accountant for Financial Mismanagement

A high-profile court case in Boston, now in its second week, raises questions about where accountants and financial advisors fiduciary responsibilities for clients end.
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Education & Careers

Ernst & Young Mentors Make College a Reality

Maria Prestigiacomo is one of more than 200 Ernst & Young employees in the United States helping low-income high school students see college as a reality by participating in the firm's College MAP initiative.
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Education & Careers

Richard Caturano Elected Chairman of AICPA

Richard J. Caturano, CPA, CGMA, is the new chairman of the American Institute of CPAs (AICPA), the world's largest member organization representing the accounting profession.
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Tax

Crime Watch

Here's our latest roundup of tax crime news. Today's cases involve real estate mortgage fraud, tax evasion, an under-the-table payroll scheme, and an underground warehouse banking scheme.
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A&A

Ruling Extends SOX Whistleblowing Protections

Following a recent ruling by the US Department of Labor's Administrative Review Board, accounting firms that do work for public companies may be far more vulnerable to whistleblowing claims under SOX.
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Education & Careers

MSCPA to Host Partner Retreat November 28-30

At the upcoming Massachusetts Society of CPAs partner retreat, managing partners and firm leaders in attendance will learn how to gain an advantage over their competitors, attract new clients, and increase their profits.
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Education & Careers

Intuit Indexes Show Small Business Growth Slowing

Results of the monthly Intuit Small Business Revenue and Employment indexes are in. They show revenue in August declined for the sixth consecutive month, and employment continued to grow slowly in September.
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Tax

Tax Fraud Promoters Get Lengthy Prison Sentences

Catherine June Floyd was sentenced to sixty months in prison, and William Scott Dion got an eighty-four-month sentence for tax fraud. Each was ordered to pay restitution of $3 million.
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Education & Careers

MSCPA's Six Women to Watch Award Winners

Women to Watch Awards recognize women who have made significant contributions to the accounting profession and to the development of women in their community. Six honorees were recognized at the MSCPA's "Women's Leadership Summit."
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A&A

CPA Mobility Becomes Law in California

CPAs from outside California will now be able to serve clients in the state without obtaining a license or paying a fee to the California Board of Accountancy (CBA) under a new law signed on September 20 by Governor Jerry Brown.
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Tax

Prison Sentence for Tax Fraud Promoter

William Scott Dion was sentenced to eighty-four months in prison for conspiring to defraud the United States and for obstructing the IRS. He was also ordered to pay restitution in the amount of $3 million.
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Education & Careers

Top Cities for Best Salary Raises

Workers in a majority of metropolitan areas received substantial raises from 2010 to 2011. Cities with greater concentrations of college graduates did even better, according to data from the Martin Prosperity Institute.
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Education & Careers

Beta Alpha Psi's Outstanding Faculty Advisor Awards

The Outstanding Faculty Advisor Award, sponsored by McGladrey LLP, was presented to five faculty advisors at the Beta Alpha Psi Annual Meeting in Baltimore, Maryland, on August 3, 2012.
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Practice

Should You Send Some Tax Work to India?

Are you having trouble hiring enough staff to do all your tax returns? Consider outsourcing some of the overflow to India.
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Pages

Voice of the Editor

What would you do if one of your clients won the lottery? We asked several accountants to weigh in with their advice for the lucky Powerball winner, and the tips we received are useful for anyone who receives a windfall, whether it's a lottery win, an inheritance, a big bonus on the job, or a killing in the stock market.
Read more
Gail Perry, CPA
Publisher/Editor-in-Chief, AccountingWEB
editor@accountingweb.com
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This Week on AccountingWEB

CPAs Mira Finé, Scott Hitchcock, Rob Keasal, Kathy Scorcio, and Ken Travis offer ten pieces of financial advice for the newest Powerball winner.
Hang Bower of BDO USA and Dan Black of Ernst & Young share their perspectives on why their firms made the Best Places to Work for Recent Grads 2013 list.
Herbein + Company, Inc. firm members talked with AccountingWEB about their year-round employee wellness program.
Bill Walter of Gross, Mendelsohn & Associates and Harold Gaar of TravisWolff LLP weigh in on mobile technology use while employees are at work.
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