Most CPAs simply grab an extra cup of coffee to steel themselves for another grueling day during tax season. But this February, associates from Davenport, Marvin, Joyce & Co., LLP tried a much more "stimulating" approach to jump-start their day.
Canadian Rapper Drake may have found an interesting loophole he believes will allow him a hefty deduction for tips at a strip club. That includes $50,000 in what he called "making it rain" money he spent at a club in North Carolina.
On March 8, the IRS announced that its Office of Professional Responsibility obtained the disbarment of enrolled agent Lorna M. Walker for stealing a client's tax payments and for preparing tax returns with false deductions for multiple clients.
Is 2013 shaping up to the year of tax reform? "There are more proposals this year than we have seen in the last five years, and an unprecedented number of major state tax reform proposals," said Harley Duncan, a managing director at KPMG.
Hedge fund manager and CPA administrator Jonathan Davey was convicted by a jury in Charlotte, North Carolina, on February 8 for a $40 million Ponzi scheme. Ten other defendants were also convicted in the case.
This January, the American Institute of CPAs (AICPA) and Chartered Institute of Management Accountants (CIMA) announced the recipients of the American Accounting Association's (AAA) Greatest Potential Impact on Management Accounting Practice Award for 2012.
Masood Chotani, a CPA and tax return preparer, was indicted by a federal grand jury on charges of engaging in a scheme to file false tax returns with the IRS using the names and Social Security numbers of deceased individuals.
Ronald Dukes is one of just eighty-four accounting students from across the United States who have been awarded the 2012-2013 AICPA Scholarship for Minority Accounting Students by the AICPA Foundation.
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.
The CalCPA honored five CPAs with its Women to Watch Awards for 2012 during ceremonies at the "Women's Leadership Forum" at the Ritz-Carlton September 27. The awards recognize service and contributions to the CPA profession.
A former US Airways pilot, Charles A. Davis, was sentenced to 120 months in prison for committing tax fraud. He was also ordered to serve twelve months of supervised release after his prison term and pay the IRS $538,569.
The CPA Day of Service is a day when thousands of accountants from CPA societies across the country will put down their tablets and pick up everything from paintbrushes to rakes to spatulas and volunteer in their communities.
In 2011, the EEOC received a record-setting number of charges from those claiming employment discrimination: 99,947 in fiscal year 2011, compared to 99,922 in 2010, and an increase from 82,792 in 2008.
The AICPA has named Lawson Carmichael as senior vice president for strategy, people, and innovation. In this role, Carmichael will lead the AICPA's strategic planning activities and oversee the Human Resources and Office of Strategy Management team.