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Tax Fraud Blotter: Negative waves

Accounting Today

In response, Whitman formed a trust with his girlfriend as the trustee then directed his income from the business into the trusts bank accounts and used the money to pay personal expenses. All rights reserved. In 2012, the IRS assessed nearly $800,000 in taxes against Whitman for 2002 through 2009 and began trying to collect.

Tax
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Avoid Holiday Mail Delays, Get Paid Faster with ePayments 

AvidXchange

Adopting digital payment methods not only helps improve cash flow with more timely payments but it can be more efficient than processing paper checks. Recent News About the USPS In 2020, the USPS unveiled a 10-year-plan to overhaul the organization after losing $87 billion between 2007 and 2020. to $14 per transaction.

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1099 Reporting Simplified with AP Automation 

AvidXchange

Creating 1099 reporting is one task that can take less time with accounts payable (AP) automation. The 1099-NEC form replaced a section ofthe 1099-MISCform in 2020 for non-employee compensation, according to TurboTax. Consult with your tax accountant before making decisions on completing or filing any tax forms.

AP
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Tax Fraud Blotter: Who ya gonna call?

Accounting Today

He was notified of employment taxes due, accounted for such taxes, had sufficient funds to pay them but chose not to pay. million in cash from CRs bank account to pay business expenses, his wages and his distributions. From November 2020 to April 2022, Gregory made false claims to the IRS for the payment of nearly $65.3

Tax
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After 'successful' season, new IRS problems loom: TAS

Accounting Today

Refunds averaged $2,942; slightly more than 81 million refunds were issued via direct deposit. National Taxpayer Advocate Erin Collins testifying before a congressional committee in October 2020. All rights reserved. More than 95% of processed returns were e-filed and some 62% resulted in refunds.

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Tax Fraud Blotter: Off to the races

Accounting Today

Beginning in 2012, Devine caused BK to fail to account for and pay hundreds of thousands of dollars in payroll taxes. The charge of failure to truthfully account for and pay over trust fund taxes carries a maximum of five years in prison and a $250,000 fine. All rights reserved.

Tax
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Accounting Practice Management Software: The Top 17 Roundup

Future Firm

Looking for the best accounting practice management software for your firm? Good news, because this is the ULTIMATE accounting practice management software round-up post. Get to know the top accounting practice management software and why it is essential for your business. The Basics of Accounting Practice Management Software.