Accounting
IRS sent $1.4B in stimulus checks to dead people, audit finds
The federal government’s quick action to issue stimulus payments in the wake of the coronavirus crisis led to more than a billion dollars of fraudulent payments, while slow action to address the health risks might have worsened the outbreak, according to a report by a government watchdog. Original Article Posted at : https://www.accountingtoday.com/articles/irs-sent-1-4b-in-stimulus-checks-to-dead-people-audit-finds
Read MoreWirecard’s wild week finally ends in insolvency filing
Wirecard AG filed for insolvency, the culmination of a stunning accounting scandal that led to the arrest of its CEO and left the German payment-processing firm unable to find over $2 billion missing from its balance sheet. Original Article Posted at : https://www.accountingtoday.com/articles/wirecards-wild-week-finally-ends-in-insolvency-filing
Read MoreDemocrats want to block stimulus for companies moving offshore
Top Democrats in the House and Senate are backing a measure that would deny coronavirus aid to companies that moved their official headquarters offshore to avoid U.S. taxes. Original Article Posted at : https://www.accountingtoday.com/articles/democrats-want-to-block-stimulus-for-companies-moving-offshore
Read MoreProcrastination may pay this tax season, IRS says
Taxpayers who are owed a refund may also get a second check this year if they took advantage of the July 15 extended filing deadline, according to the Internal Revenue Service. Original Article Posted at : https://www.accountingtoday.com/articles/procrastination-may-pay-this-tax-filing-season-irs-says
Read MoreImproving the Tax Treatment of Residential Buildings Will Stretch Affordable Housing Assistance Dollars Further
A recent Brookings Institution study points out that “even before the COVID-19 crisis, housing affordability and instability were serious problems.” The study outlines a number of goals and strategies for increasing the supply of affordable housing, including federal subsidies, low-cost loans, and grants. These may well be viable solutions, but what is missing are policies…
Read MorePathways to Growth: Everything’s changed — but has it?
Accounting firm leaders need to hold fast to growth principles in changing times. Original Article Posted at : https://www.accountingtoday.com/opinion/pathways-to-growth-everythings-changed-but-has-it
Read MoreEconomic downturn? Not if you’re smart
The pandemic has created many great opportunities for finance pros to help their clients. Original Article Posted at : https://www.accountingtoday.com/opinion/economic-downturn-not-if-youre-a-smart-financial-advisor
Read MoreAICPA releases audit software for employee benefit plans
There are close to 84,000 employee benefit plan audits conducted in the United States each year, almost 70 percent of which are limited scope audits. Original Article Posted at : https://www.accountingtoday.com/news/aicpa-releases-audit-software-for-employee-benefit-plans
Read MoreID theft heads ETAAC’s latest recommendations
The committee’s suggestions for the IRS include collaborating with the FTC. Original Article Posted at : https://www.accountingtoday.com/news/id-theft-heads-etaacs-latest-recommendations
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