IRS Won't Be Sorry If You Never Get Around to Claiming Your Refund
The Internal Revenue Service says it has $917 million in unclaimed tax refunds from 2009, and time is running out to claim them. The refunds are owed to nearly 1 million people who failed to file...
View ArticleEverything's Bigger In Texas, Except the Peer Review Requirements?
Texas Representative Phil Stephenson is trying to exempt CPAs who only prepare financial statements for small business (a.k.a. "the little guys") from the state's mandatory peer review program. The...
View ArticleFootnotes: Bad Internal Controls at JPMorgan; The New York Times Has Two...
JPMorgan Faulted on Controls and Disclosure in Trading Loss [DealBook]U.S. to let spy agencies scour Americans' finances [Reuters]The New York Times Has Two Chief Financial Officers And two treasurers,...
View ArticleAccounting News Roundup: Bank Accounting? Manipulative? Get Out; Happy Form...
Hidden Numbers Make Banks Even Bigger [NYT]FN: "Under American accounting rules, banks that trade a lot of derivatives can keep literally trillions of dollars in assets and liabilities off their...
View ArticleChimera Seems to Have Enjoyed Firing Deloitte a Little More the Second Time...
If you've read anything recent about Chimera Investment Corp., you're no doubt glad that you don't have any part in it. Tony Catanatch's post from last week has more than enough to most auditors want...
View ArticleOne Ernst & Young Employee Doesn't Think It's Too Early To Get Excited About...
From the mailbag:Got a voice from Kay Matthews, EY West Sub-Area Managing Partner [last week]. They are giving the employees in the West Sub-Area an extra day off for our "hard work". The Thursday...
View ArticleFootnotes: Settlements, Senate Subcommittees, and Snafus | 03.15.13
Utah agrees to pay $5.6 million to accountant running FLDS trust [SLT] SAC Settles Insider Trading Cases for $614 Million [DealBook]Silicon Valley vs. Corporate Taxes [CC via TaxProf]Senate...
View ArticleAccounting News Roundup: Auditors Manage One Victory in HP/Autonomy Lawsuits;...
Cypriot Outrage Over Tax Could Derail Euro-Area Bailout [Bloomberg]European policy makers signaled flexibility on the application of an unprecedented bank tax in Cyprus, seeking to overcome outrage...
View ArticleMaybe We Should Just Let the Banks Write Their Own Loan Loss Accounting Rules
Banks really appreciate the effort to move away from the recognition of losses as they occur approach, FASB, but: The American Bankers Association has published a “frequently asked questions”...
View ArticleKPMG Is at the Top of Someone Else's Game
Literally. Sorta. Oh god, I don't know. We all have headaches.What I mean is, KPMG happens to be on the hat that is on top of Stacy Lewis’ head and Stacy Lewis is now the #1 female golfer in the world....
View ArticleTax Nerds Feeling Vindicated After Their Long-held Viewpoints Are Paid Lip...
Tax Policy Center co-director Eric Toder is feeling good today. Why? Some people known for not doing much of anything productive are saying things that sound remarkably like some people who plan to do...
View ArticleIf Krista McMasters, co-CEO of CliftonLarsonAllen, Is Retiring Then There...
A couple of tips came in earlier today that CliftonLarsonAllen's co-CEO Krista McMasters is retiring. If she were to step down then it stands to reason that Gordy Viere, the CEO of CLA Holdings would...
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Let's Talk About Thrifting For Accounting Swag
Surely I am not the only one who has an extensive collection of Federal Reserve tchotchkes and various items of accounting memorabilia. In fact, I seem to recall the very first post I ever read written...
View ArticleFootnotes: Broke People; RIP Dr. Adolf J.H. Enthoven; Future Accounting...
All Upstate N.Y. Shooter Left Behind Was Debt and New Clothes [New York Magazine]No Accounting For Auditor PwC At Levin's Whale Hearing [Francine McKenna in Forbes]Crown Heights Accountant Untangles...
View ArticleAccounting News Roundup: FASB Joins New Club; PwC Slips in UK Auditor...
Cyprus Set to Reject Bailout, Citing Tax on Bank Deposits [NYT]Cyprus’s Parliament is likely to reject an international bailout package that involves taxing ordinary depositors to pay part of the bill,...
View ArticleBDO Poaches a Prominent Healthcare Consultant From PwC and Issues a Press...
Oh, how we love a good poaching expedition. Especially when a firm feels so good about their prize that they get the PR team involved.BDO USA, LLP, one of the nation’s leading professional services...
View ArticleBREAKING: Incompetent Tax Advisers May Get Fired
The Wall Street Journal is on it, you guys:Plenty of accountants make errors on tax returns from time to time but most manage to remain on good terms with their affected clients. Make a big mistake or...
View ArticleSouthern National Bancorp Not Ashamed to Admit That They're Dumping KPMG to...
Southern National Bancorp is swapping out KPMG as its auditor for Dixon Goodman Hughes Goodman. Perhaps this development isn't surprising since the firm had, what some might call, a significant...
View ArticleFootnotes: California Tax-a-Thon Continues; A Calpers Story You Can Read;...
Argo, tax style: Fake movie made in attempt to hide tax fraud [Don't Mess With Taxes]Jury indicts former Calpers CEO for fraud scheme A non-subscription link to the WSJ story Colin included in this...
View ArticleAccounting News Roundup: 'The full-employment act for CPAs'; H&R Block Sued...
Stressed Tax Preparers Find Relief in Mardi Gras, Massages [Bloomberg]"It’s information overload," says Lori Kelley, partner at accounting firm Warren Averett in Destin, Florida. "It's almost comical....
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