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$1B in 2020 tax refunds remains unclaimed

Accounting Today

Time is running out for nearly 940,000 individuals to claim refunds from 2020, with a May 17 deadline approaching for filing the necessary tax returns.

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CAMs disclosures decrease since 2020

Accounting Today

Auditors are including CAMs in more of their opinions but disclosing fewer CAMs per opinion, according to an Ideagen report.

Auditing 299
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IRS TECU compliance checks take 3X longer since 2020

Accounting Today

hours on average per case in 2023, up 281% from 2020. The Treasury Inspector General for Tax Administration found that IRS Tax-Exempt Compliance Unit examiners spent 6.1

Tax 189
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Ransomware attacks doubled from 2020 to 2021

Accounting Today

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Undergraduate accounting enrollment rose 12%

Accounting Today

Total undergraduate accounting enrollment for fall 2024 was 257,278 students, the highest reported since fall 2020 and just shy of the pre-pandemic fall 2019 enrollment.

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Tax Fraud Blotter: Sick excuses

Accounting Today

Alvarez did not have a PTIN and admitted that in 2019 and 2020 she misrepresented taxpayers eligibility for education credits and deducted fictitious business expenses from their taxable income to reduce tax liabilities and inflate refunds. All rights reserved. In March 2019, Archer filed for Chapter 7.

Tax 213
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Tax Fraud Blotter: Boundless energy

Accounting Today

From the second quarter of 2017 through the fourth quarter of 2020, he collected but did not pay over or report similar taxes to the IRS. All rights reserved. They instead spent the money on country club memberships and season tickets to the San Jose Sharks. Olson was also one of the owners and operators of a day spa in Saratoga, California.

Tax 179