Washington DC news

Tax

Crime Watch: December 20, 2013

A San Jose, California, woman was convicted December 18 of a federal fraud charge for running a Ponzi scheme that bilked more than 250 victims out of approximately $9.5 million.
Tax

Crime Watch: December 13, 2013

Rathana Ung, the former director and officer of Lim's Income Tax and Lim's Tax, Inc., was sentenced to twelve months and a day imprisonment, one year of supervised release, and ordered to pay $103,736 in restitution to the IRS.
A&A

PCAOB to Discuss Disclosure of Audit Engagement Partner

The PCAOB will reexamine for public comment a proposal that would require the names of the engagement partner and certain other participants in an audit to be disclosed in the auditor's report.
Tax

Baucus Proposes Series of Sweeping Tax Reforms

Max Baucus released a series of comprehensive tax reform proposals over a three-day span. Specifically, the three drafts cover a restructuring of the international tax system, tax administration and fraud prevention techniques, and cost recovery deductions.
A&A

Former US Senator and Florida Governor Bob Graham Receives AICPA Medal of Honor

The AICPA announced Bob Graham, former US Senator and former Florida Governor, as the recipient of the AICPA Medal of Honor. Graham was presented the award by AICPA Chairman Richard Caturano, CPA, CGMA.
Tax

The Fed Shutdown Just Keeps Getting Weirder

Oh what odd images the shutdown hath wrought. Here are some snippets of the federal government shutdown you may not know about.
Tax

IRS' Ingram: Did the Devil Make Her Do It?

The IRS has been embroiled in plenty of turmoil lately, but presumably it has nothing to do with a witch's cauldron or a satanic spell. Nevertheless, an IRS official sitting on the hot seat in Congress was asked to defend herself against mock charges she was demonic.
Tax

US Tax Court Cancels Trial Sessions Due to Shutdown

Due to the federal government shutdown that began last Tuesday, the US Tax Court in Washington, DC, canceled trial sessions scheduled to begin on October 7 and 8 in several cities throughout the country.
Tax

Another Taxing Opportunity: Plastic Bags in PA

There's nothing new about governments trying to use tax as behavior modification. They've been doing it forever. Now the behavior being targeted in some areas of the country is the choice at the grocery store of "paper or plastic."
Tax

How State Income Taxes May Be Redrawing the Population Map

Not many political potatoes are as hot as taxes. Whatever your opinion about state and local taxes, it's prudent now and then to gauge how the prevailing rates affect a state's fiscal health overall.
Tax

IRS to Michael Jackson Heirs: We Want More Money!

More than four years after he died, Michael Jackson's heirs are still waiting for their shares of his substantial estate. If the IRS has its way, they'll continue to wait a lot longer.
Education & Careers

AICPA Announces 2013 Accounting Competition

This fall, teams of undergraduate business/accounting students from across the country will be able to test their personal financial planning skills when they participate in the 2013 AICPA Accounting Competition.
A&A

AICPA Opposes Proposed Limitation on Use of Cash Method of Accounting

On August 15, the AICPA expressed its opposition to a proposed limitation on the use of the cash method of accounting for non-natural taxpayers, personal service corporations, and farmers that is contained in House Ways and Means Committee Chairman Dave Camp's small business tax reform discussion draft.
Education & Careers

AICPA Presents Outstanding CPA Career Contribution Award and Outstanding CPA in Government Impact Award

The American Institute of CPAs (AICPA) announced that Marcia Buchanan, CPA, of Washington, DC, is the institute's recipient of the Outstanding CPA in Government Career Contribution Award.
Tax

Crime Watch: August 2, 2013

The Justice Department and IRS announced that John T. Hoang of Virginia pleaded guilty in federal district court in Washington, DC, to willfully aiding and assisting in the preparation of false income tax returns for tax year 2004.
Tax

Obama Nominates John Koskinen as Next IRS Commissioner

President Obama on August 1 nominated John Koskinen as the next commissioner of the embattled IRS. The president tapped the retired Koskinen because of his ability to lead an organization out of a crisis.
Education & Careers

Sage Transforms Accounting Professionals into Trusted Advisors with New Curriculum

On July 23, Sage North America announced the launch of the Competitive Edge for Accounting Professionals: Value Beyond Tax and Compliance Services, a new CPE program for accounting professionals.
Tax

Death Tax Grasps for More of William Davidson's Wealth

Anyone wealthy enough to own a major sports franchise is probably steeped deep in serious estate planning. William Davidson was no exception. In 2008, the year before he died, his net worth was $5.5 billion.
Tax

Tea Party Groups Say IRS Trampled on Rights

According to the testimony of members of six targeted groups given to the House Ways and Means Committee on June 4, the IRS held up applications for tax-exempt status, illegally released donor lists, and generally harassed organization officials.
Watchdog

Tea Party Groups Target IRS in Lawsuit

The IRS scandal involving applications for tax-exempt status by Tea Party groups refuses to go away. Now the ACLJ has filed a lawsuit on behalf of twenty-five Tea Party and other conservative organizations against the IRS and several of its top officials.

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