article thumbnail

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. Charleston, West Virginia: Business owner Luther A.

Tax 213
article thumbnail

The $350M tax evasion case every CPA should know about

Blake Oliver

Meanwhile, he reported less than $1 million in annual income as a mere "consultant" to these companies from 2016 to 2020. Edelman was trying to dodge a unique aspect of US taxation: America taxes global income regardless of where you live.

CPA 52
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How GST on Digital Services Affects Your Netflix, Spotify, and Other Subscriptions in Singapore

Counto

GST on digital services was introduced in Singapore on 1 January 2020, requiring overseas service providers to charge 7% GST on business-to-consumer (B2C) digital services. Non-GST Registered Businesses: SMEs that are not registered for GST cannot claim input tax, so these additional costs must be factored into budgeting.

article thumbnail

The Zero Cost Accounting Client Acquisition Method w/Alyssa J. Dillon

Jetpack Workflow

Alyssa’s journey began in the nonprofit sector, where she honed her skills in financial management, overseeing budgets that exceeded $39 million. In 2020, recognizing the growing demand for her insights, Alyssa expanded her reach by launching a coaching program for accountants.

article thumbnail

Navigating Tariffs, Talent Gaps, and Market Volatility in Construction

AvidXchange

From delayed projects and ballooning budgets to cash flow bottlenecks and hiring difficulties, contractors and construction company owners are forced to rethink how they run their businessesand fast.

AP 52
article thumbnail

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

Accounting Today

National Taxpayer Advocate Erin Collins testifying before a congressional committee in October 2020. The administrations FY26 budget proposal calls for keeping Taxpayer Services staffing at about FY25 levels," the report reads. Refunds averaged $2,942; slightly more than 81 million refunds were issued via direct deposit.

article thumbnail

Cash flow crunch: Delving deeper into the cash flow challenges affecting small businesses

Xero

The cash flow positions of most small businesses improved throughout 2020 and 2021. The report also highlighted a surprising result: the cash flow positions of most small businesses actually improved in 2020 and 2021. This was mainly due to the government support provided to businesses during the COVID-19 pandemic.

XERO 264