News

A&A

Bramwell’s Lunch Beat: PCAOB Tags Ex-PwC Partner with Penalties

The menu for July 8 features specials on Swiss banks threaten freeze on US accounts over tax evasion, 30 years of inversions in one chart, GAO says IRS misleads audited taxpayers, and more.
Education & Careers

Why You May Want the CFE Designation

According to a 2014 global fraud study, the typical organization loses 5 percent of annual revenues to fraud. Anybody who has an asset that's available to steal has a need for a CFE. What's it all about?
A&A

IIA Highlights Five Key Strategies for Internal Audit Success

A report released by the Institute of Internal Auditors on Monday examined changing expectations from key internal audit stakeholders and zeroed in on five tactics chief audit executives can use to meet those expectations.
Tax

5 Tax Tips Newlyweds Should Consider

Summer wedding season is underway, but have you considered some of the tax issues that go along with tying the knot? If not, the IRS has provided the following five basic tips that can help keep those issues to a minimum.
Tax

Vacation Homes: The 'Secret' Tax Break

There's a creative method that some vacation-home owners may be able to use to avoid adverse tax consequences. The well-known active participation break isn't the only way to save on taxes.
A&A

Bramwell’s Lunch Beat: The Deals Within Tax Inversion Deals

The menu for July 7 features specials on PCAOB likely to vote on naming engagement partner proposal by year’s end, EU widens its tax inquiry of multinational firms, SEC final pay rules coming soon, and more.
A&A

How to Use Investment-Related Tax Breaks

Can you deduct the costs of traveling to investment seminars and shareholders' meetings? The IRS draws some very fine lines on these investment expenses, but the courts have shown some flexibility.
A&A

Bramwell’s Lunch Beat: Pot Shop Challenging IRS Penalties

The menu for July 3 features specials on lawmakers throw the book at tax scofflaws to raise revenue, states take lead on gas tax increases, GOP presses Justice to act on Lois Lerner contempt citation, and more.
Practice

How to Foil Mortgage Fraudsters

Forewarned is forearmed. Learn how criminals set up mortgage fraud, to help protect your clients from scams involving identity theft, falsified documents, fake appraisals, false short sales, and misrepresentation.
Tax

FATCA Pacts with US Grow as Law Takes Effect

The US Treasury Department said on July 1, the day FATCA went into effect, that nearly 100 jurisdictions and more than 80,000 financial institutions worldwide now have agreements with the United States to fight overseas tax evasion.
Education & Careers

Career Coaching Future Leaders to Their Greatest Potential

We can’t deny a great divide exists between the expectations and workplace needs of Baby Boomers and Millennials. To create thriving organizational performance, we need to shift the way in which we groom future leaders.
Tax

IRS Shortens Form for Small Nonprofits Seeking Tax Exemption

A new form introduced by the IRS on Tuesday, Form 1023-EZ, is expected to help speed up the approval process for small charities and nonprofit groups that have applied for 501(c)(3) tax-exempt status.
Education & Careers

EY Mentors Help Students Map Route to College

About one-third of EY employees are the first in their families to go to college. And thanks to firm's college mentoring program, other students will get a chance to be college pioneers.
A&A

Bramwell’s Lunch Beat: Longevity Annuities Get Boost from US Treasury Department

The menu for July 2 features specials on SEC bars accounting firm from auditing US-traded companies in China, True the Vote/IRS court hearing next week, tax strategy used by Illinois governor hopeful, and more.
Tax

IRA Rollovers: Do Things Right

Few transactions involving income taxes taxes are as likely to go wrong, and carry as severe consequences, as qualified retirement plan rollovers. Make sure your clients don't fall victim.
Tax

IRS: Unused ITINs to Expire After Five Years

According to a new policy unveiled by the agency on Tuesday, Individual Taxpayer Identification Numbers (ITINs) will expire if not used on a federal income tax return for five consecutive years. The ITIN will remain in effect as long as a taxpayer continues to file US tax returns.
A&A

AICPA Adds Two More Audit Interpretations on GASB Pension Rules

The AICPA's Auditing Standards Board this week issued two new audit interpretations intended to help auditors navigate GASB's pension accounting guidelines for state and local governments.
Tax

Key Details of IRS’s Voluntary Preparer Education Program

The IRS on Monday issued final rules for its new Annual Filing Season Program, an initiative announced last week that will enable paid tax return preparers to voluntarily fulfill continuing education requirements and obtain a record of completion.
A&A

Audits of Special Purpose Frameworks: Error Analysis

Good error analysis should be performed as an auditor evaluates the results of specific auditing procedures, and should contain both quantitative and qualitative analysis.
A&A

Bramwell’s Lunch Beat: The 411 on ‘Critical Audit Matters’

The menu for July 1 features specials on many states cut taxes as their fiscal years’ begin, PCAOB finds deficiencies in 19 of 59 PwC audits, challenge of Colorado’s sales tax law heads to Supreme Court, and more.

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