IRS begins mailing refunds to Madoff victims
The Internal Revenue Service (IRS) has begun sending refund checks to Madoff investors who paid taxes on investment income from the giant Ponzi scheme. Robert S. Keebler, a partner at accounting firm Baker Tilly Virchow Krause LLP in Appleton, Wisconsin, says that while some clients who were Madoff investors have received refunds, most are still in process. “The leadership at the national office of the IRS has done an excellent job of bringing guidance to practitioners and their own colleagues, but as in any large organization, the transition to the field offices takes time.”
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.