New Jersey news

Tax

Former Partner at BDO Seidman LLP Sentenced to Prison for Tax Crimes

Stephen A. Favato, a resident of Point Pleasant Beach, New Jersey, and a former partner in BDO Seidman LLP's Woodbridge, New Jersey, office, was sentenced to eighteen months in prison for tax crimes, the Justice Department and the IRS announced April 16.
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Practice Development

The JOBS Act: Economic Solution or Investor Nightmare?

In an effort to jump-start the US economy and create more jobs, both the House and Senate passed the Jumpstart Our Business Startups (JOBS) Act, and President Obama signed the act into law April 8, 2012.
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Community News

Company Announcements: Week of April 9, 2012

Following is the latest roundup of accounting community news for the week of April 9, 2012.
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Community News

Company Announcements: Week of April 2, 2012

Following is the latest roundup of accounting community news for the week of April 2, 2012.
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Community News

Company Announcements: Week of March 19, 2012

Following is the latest roundup of accounting community news for the week of March 19.
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Tax

Lawsuit Charges IRS with "Power Grab" in New Tax Preparer Regulations

The Institute for Justice filed suit against the IRS on behalf of three independent, paid tax return preparers, challenging the IRS' authority to license and regulate paid tax preparers. The IRS instituted new requirements for paid tax preparers last year. The new regulations will be phased in over a three-year period.
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Practice

Employers Paying the Penalty for Wage and Hour Violations

In prosecution of wage and hour violations, the stakes are getting personal. In several recent cases, the government has penalized company owners and officers for failing to pay overtime, imposing stiff fines and even imprisonment.
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Community News

Big Win for Accounting Profession in New Jersey Supreme Court

In a unanimous decision, the New Jersey Supreme Court on February 16 reversed an Appellate Court decision in a case brought by a third party that found KPMG LLP guilty of negligence for failing to uncover accounting fraud by a former client, Papel Entities.
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Tax

Rapper Lil' Kim Owes IRS Big Bucks

Lil' Kim, a famous rap artist who has been working to turn her life around, allegedly owes more than $1 million in state and federal taxes for the years 2002 to 2009. Celebrity news website TMZ reported that her 2009 debt of $86,347 was recently added to the total she already owed, bringing it to $1,026,862.
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Practice

Intuit Small Business Employment Index Results

Small businesses created 50,000 new jobs in January but paid employees less and gave them fewer hours. The East Coast, especially New York, showed more weakness in employment than in other parts of the country. These are some of the results of Intuit's latest Small Business Employment Index.
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Community News

"SmartCEO" Magazine Future 50 Award Given to Citrin Cooperman

Philadelphia accounting, tax, and business consulting firm, Citrin Cooperman, has been recognized by Philadelphia SmartCEO magazine as a 2012 Future 50 Award recipient. Led by the Philadelphia office managing partner Mark S. Carrow, Citrin Cooperman was honored at the magazine's awards ceremony in January.
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Community News

Gerald Brignola, CPA, PA, Merges with Traphagen Financial Group

Traphagen Financial Group, an accounting and wealth management firm, announced its merger with Gerald Brignola, CPA, PA (GB), a Paramus, New Jersey–based accounting firm, effective January 1, 2012.
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Election 2012

Some CPA Analysts Question if Romney's Tax Reform Approach Will Fly

Some Republican candidates' tax reform platforms have spurred discussion and controversy, but Mitt Romney's "Believe in America" plan for jobs and economic growth has drawn relatively little discussion. One CPA analyst argues that Romney is "staying status quo on the personal side of the tax equation."
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A&A

AICPA Awards $233,300 to Seventy-Eight Minority Accounting Students

The AICPA Scholarship for Minority Accounting Students program began in 1969, with the aim of increasing ethnic diversity in the CPA profession. Since the program's inception, the AICPA Foundation has awarded more than $14.6 million in scholarships to approximately 8,000 accounting students.
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A&A

New Jersey State Board Waives Requirement for CPA Exam

The New Jersey State Board of Accountancy is sorting out confusion over the CPA Uniform Exam requirements in the state.
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A&A

Keep All Your CPE Certificates of Completion – You Might Be Audited

When fulfilling their continuing professional education (CPE) requirements for license renewal, CPAs need to keep their certificates of completion, even if their particular state boards of accountancy don't require the CPAs to file the forms.
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Education & Careers

Obama's Student Loan Plan: Relief for College Consumers?

Obama's "pay as you earn" student loan program is designed to provide relief to students by making their college loan payments more affordable and easier to pay.
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Election 2012

Video News Update for the Week of October 24, 2011

AccountingWEB's Weekly News Update for the week of October 24, 2011 is available in video format!
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Technology

Thomson Reuters NetClient CS Users Share Client Portal Experiences

There used to be a time when financial professionals at tax and accounting firms spent hours of their time in back offices copying returns in triplicate or communicating with their clients through daylong games of phone tag or trips to the post office.
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Education & Careers

New Jersey CPA Candidates Remain in Limbo

According to reports from the New Jersey Society of CPAs (NJSCPA), some candidates for the CPA Examination in New Jersey recently had their applications rejected due to confusion over certain education requirements. But class hasn't been dismissed quite yet.
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Pages

Voice of the Editor

Even though any accounting auditor would tell you it seems like there are an awful lot of tax accountants out there, surely one-third of the country isn't made up of tax preparers, so it's rather startling news to learn that one-third of Americans like to do their taxes. Who knew?
Read more
Gail Perry, CPA
Publisher/Editor-in-Chief, AccountingWEB
editor@accountingweb.com
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