Watchdog

A&A

New Report Shows Changing Fraud Environment

The latest Kroll "Global Fraud Report" shows the incidence and cost of fraud have decreased over the last year, yet fraud still remains an important issue for all companies around the world. And a DOJ suit against Standard & Poor's highlights the need for oversight of the credit rating industry.
Tax

Crime Watch: March 15, 2013

A federal court has permanently barred Crystal Ireland of Detroit, who does business as Master Mind Preparation, from preparing federal tax returns that claim the earned income tax credit. According to the complaint, Ireland fabricated businesses and reported fake business income on her customers' tax returns in order to claim the maximum credit for them.
Tax

Crime Watch: March 11, 2013

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.
Tax

Crime Watch: March 4, 2013

Appearing before US District Judge Margaret M. Morrow, a Los Angeles woman was sentenced February 25 to three years in prison for her role in a scheme whereby she used the identities of others to defraud the federal bankruptcy and tax systems.
Tax

Hollywood Hands Michigan an Empty Bag

A few years ago, with giant auto manufacturing plants sitting empty and the economy dragging, Michigan threw open its doors, literally inviting Hollywood to come in and produce films economically. The bait was federal film credits, which movie producers covet.
Practice

Express Scripts Sues Ernst & Young Alleging Theft of Trade Secrets

Express Scripts, one of the nation's largest pharmacy benefits managers, has sued its accounting firm, Ernst & Young, and one of that firm's former partners, alleging theft of its trade secrets and confidential and proprietary business data.
Tax

Crime Watch: February 26, 2013

The United States has asked a federal court in Memphis, Tennessee, to permanently bar Ahmed Grant and Lillian Madyun from preparing federal income tax returns for others. The estimated harm to the government is over $2 million for the 2010 tax year alone, and may be as high as $5 million.
Tax

Is Pole Dancing a Tax-Exempt Art Form?

If the owners of the Upstate New York strip club Nite Moves have their way, the Supreme Court will be taking up that question. They are challenging a $124,921 tax bill levied by state tax authorities and affirmed by appeals court judges.
Education & Careers

CBIZ Looks to the Skies, Oceans, Mountains to Highlight CFOs

Every accountant knows the stereotype: the cautious, change-averse perfectionist more comfortable in the world of numbers than the messy world of people and experiences. CFOs suffer some of the same misperceptions.
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.
Education & Careers

Jesse Jackson Jr. Guilty of Money Crimes

One publication describes them as a "power couple," but those days may be over for Mr. and Mrs. Jesse Jackson Jr., at least for now. On February 20, both Jacksons entered guilty pleas in the separate charges brought against them.
Tax

Battle of the Governors: Low Taxes vs. High Tans

The battle of words between two governors sounds a little like a schoolboy exchange. Texas Governor Rick Perry seems to be thumbing his nose at California Governor Jerry Brown. Brown is clearly annoyed, yet responding as if Perry is more of a mosquito than a threat.
Tax

Little Sympathy for Tax Debtor Casey Anthony

Here's one delinquent taxpayer who may not find many sympathizers as she works her way through bankruptcy proceedings - Casey Anthony. Anthony stood trial for murder after her two-year-old daughter disappeared and was later found dead.
Tax

Crime Watch: February 12, 2013

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.
Tax

IRS to O.J. Simpson: Where's Our Money?

It's true that the IRS has slapped O.J. Simpson with two different tax liens over the years ($179,435.07 for 2007 to 2010, and $17,015.99 for 2011). California is still trying to collect $318,566.06 going back to 2000, on which Simpson has made no payments.
Tax

How about a Little Sex with That Tax Audit?

That's what one Oregon taxpayer said he was offered by an IRS auditor. But it wasn't exactly a request, according to forty-year-old Vincent Burroughs. The "offer" came with a threat of hefty IRS penalties if he said no.
Tax

Crime Watch: February 5, 2013

Six people were sentenced for a nationwide scheme that caused the filing of tax returns for at least 180 clients from thirty different states, requesting more than $160 million in fraudulent tax refunds.
Tax

More of Lindsay Lohan's "Believe It or Not" Tax Life

Not even George Lucas could put together a story as unbelievable as Lindsay Lohan's real life. The drama, the self-destructive antics, and the financial devastation go on and on and on with no end in sight.
Tax

Crime Watch: January 31, 2013

Florida tax return preparer Torrey Burden allegedly fabricated and inflated deductions and credits to fraudulently reduce customers' tax liabilities. The IRS projects that the tax loss from the returns prepared by Burden could exceed $1 million.
Tax

Plaxico Burress Needs Professional Help

NFL wide receiver Plaxico Burress needs a good financial advisor . . . or a team of them. He seems to be his own worst enemy, with a long track record of self-inflicted wounds – financial, physical, and behavioral – followed by a career-crashing stint in prison.

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