Watchdog

A&A

Business opportunities make forensics, fraud examination credential worth investigating

Demand for forensic accounting services from businesses of all sizes has made qualifying for a second certification in forensics and fraud examination an attractive option for accountants.
Tax

NBC accountant's attorney calls embezzlement accusation 'cuckoo'

A lot of young people would have loved Matthew Rudolph’s job as an accountant for NBC’s show 30 Rock. As it turns out, there might be a vacancy. After being accused of padding his corporate expense account to the tune of about $13,600, Rudolph is now awaiting arraignment.
Tax

How an embezzler stole millions from a small company

New details have emerged on the methods used and the outcomes following the case of 47-year-old convicted embezzler Sujata “Sue” Sachdeva, who was the trusted 15-year veteran vice president of finance, secretary, and principal accounting officer of Koss Corporation.
Tax

Congressman's wife gets prison time for tax misconduct

The wife of a U.S. Congressman will report to prison next month. Patrice Tierney, age 60, received a harsher than expected sentence for her participation in the filing of fraudulent tax returns.
AccountingWEB Life

Taxpayer Advocate report focuses on tax reform, collection issues, health care reform

This year's report identifies 21 problems, provides updates on four previously identified issues, makes recommendations for administrative and legislative change, and analyzes the 10 tax issues most frequently litigated in the federal courts.
Tax

IRS agent facing prison time for filing false returns

You may remember Albert Bront. He's the guy who greeted federal agents at his home by screaming, "I'm going to kill all of you!" The agents were there to execute a search warrant in 2009 based on an investigation of tax returns prepared and filed by Bront.
Tax

Celebrities find themselves targets of the law, IRS

Has another star of The Brady Bunch gone bad or was it a case of mistaken indentity? Christopher Knight, through no fault of his own, leads this installment of AccountingWEB's celebrity news.
Tax

Celebrity stew: Stars up to their necks in IRS trouble

Rounding out 2010's cavalcade of celebrities mired in tax issues are actor Val Kilmer, songwriter Lamont Dozier, rapper Trick Daddy, and all-around weirdo Grace Jones.
Tax

Nicolas Cage: A tale of multiple foreclosures

Think you have issues with the IRS? Consider Nicolas Cage. By the latest count, he owes Uncle Sam approximately $14 million in back taxes relating to income from 2002, 2003, 2004, and 2007.
A&A

Ernst & Young charged with civil fraud for role in Lehman collapse

The New York Attorney General has filed a lawsuit against Ernst & Young, accusing the firm of helping Lehman Brothers hide its financial weakness from investors from 2001 until the investment bank collapsed in 2008.
A&A

SEC has five prominent fraud cases in one month

July was a busy month for the SEC. Five of the enforcement cases charged or settled that month involved large, well-known companies, including KBR, Goldman Sachs, Dell, General Electric, and Citigroup.
A&A

IRS watchdog: Six months of work saved taxpayers nearly $3 billion

The watchdog over costs and efficiency at the Internal Revenue Service has saved taxpayers almost $3 billion over six months, according to a new report to Congress.
Tax

More famous people in hot water with the tax man

Another bunch of celebrities is in trouble with Uncle Sam over tax debt. Singer Kelly Rowland, Eddie Murphy's ex-wife, and actor Cary Elwes are the latest.
Tax

IRS, FBI seeking financial records of Florida Republican Party

The Republican Party of Florida has been served with a subpoena seeking financial records related to $500,000 in charges on American Express credit cards issued by the party.
Tax

Get through airport quickly by keeping your fashion sense at home

Fellow travelers: Take a cue from Fergie, the latest victim of the Transportation Security Administration’s more aggressive airport screening procedures. The singer learned that being a celebrity didn’t earn her the privilege of avoiding the much-criticized tactics at LAX.
Tax

IRS Doghouse Web site enables consumers to rate IRS employees

Consumers with a bone to pick with the IRS have the opportunity to share their experiences. Originally designed as an IRS profile database, IRSDoghouse.com has evolved into a free and anonymous Web site where anyone can rate agency employees.
Tax

UBS releases names of U.S. taxpayers with unreported accounts

The Internal Revenue Service has dropped its legal action against Swiss bank UBS AG after the Swiss government handed over the names of 4,000 U.S. taxpayers who had undisclosed accounts at the bank.
Tax

SEC charges two Madoff employees with fraud

The Securities and Exchange Commission has charged a pair of longtime employees at Bernard L. Madoff Investment Securities LLC with playing key roles in the Madoff Ponzi scheme.
Tax

Rep. Charles Rangel gets his day in court, faces an unexpected loss

Rep. Charles Rangel (D-N.Y.) once again is in the news for ethics violations. For more than two years, Rangel, the former chairman of the House Ways and Means Committee, has been the target of an investigation involving a growing list of charges.
Tax

Convicted felon hired to teach accounting at university in Missouri

Missouri Southern State University has hired a convicted felon, who embezzled at least $129,000 from a former employer, to teach accounting.

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