Companies have trouble detecting fraud during COVID

The COVID-19 pandemic could give remote employees around-the-clock access to company funds with little supervision and lead to embezzlement. ]] Original Article Posted at : https://www.accountingtoday.com/news/companies-have-trouble-detecting-fraud-during-covid

Read More

IRS audits of millionaires plunged 72%

Fewer than two out of every 100 taxpayers reporting over $1 million in income were audited by the Internal Revenue Service in fiscal year 2020, according to a new report. ]] Original Article Posted at : https://www.accountingtoday.com/news/irs-audits-of-millionaires-plunged-72-in-8-years

Read More

The EU Determined to Reform the Business Tax

The European Union (EU) recently launched a consultation to reform the EU business tax system, which the European Commission considers is ill-equipped to face the challenges posed by globalization, climate change, digitalization, and population aging. This consultation could lead to proposals for taxes that raise general funds for the EU rather than individual member states.…

Read More

Which is more difficult: The CPA Exam or the Bar?

Having taken both, Christine Kuglin breaks down the differences between the hurdles to the two professions. ]] Original Article Posted at : https://www.accountingtoday.com/opinion/which-is-more-difficult-cpa-or-bar-exam-i-took-both-and-heres-my-answer

Read More

BDO becomes first Xero Global Partner

Xero will become BDO’s preferred accounting solution for its business, services and outsourcing clients in the small to medium business space. ]] Original Article Posted at : https://www.accountingtoday.com/news/bdo-becomes-first-xero-global-partner

Read More

Washington State Lawmakers Consider 1,000% Tax Increase on Tobacco Businesses

Lawmakers in Washington are exploring an unusual way to affect nicotine consumption and increase taxes on tobacco products sold in the state. Instead of increasing the excise tax rate, which is currently $3.025 per pack of 20 cigarettes, sponsors of HB 1550 are suggesting increasing the Business & Occupations (B&O) tax on tobacco manufacturers and…

Read More