Latest Articles

  • Bill Would Make Hearings Before IRS Office of Appeals a Taxpayer Right

    By:
    Chris Gaetano
    |
    Jul 17, 2017
    A bi-partisan bill introduced in the House, if passed, would make having a hearing before the IRS Office of Appeals a right available to virtually all taxpayers.
  • TIGTA: IRS Must Keep Better Track of Its Records

    By:
    Chris Gaetano
    |
    Jul 17, 2017
    The Treasury Inspector General for Tax Administration (TIGTA) said in a recent report that that IRS policies do not comply with federal record retention requirements, which has resulted in some documents being lost or destroyed when they should have been archived for future use. 
  • Study: People Four Times More Likely to Default on Loans if Parents Also Defaulted

    By:
    Chris Gaetano
    |
    Jul 14, 2017
    A recent study from Denmark says that those with parents who've previously defaulted on loans are four times more likely to, themselves, default on a loan, at least compared to those raised by more scrupulous borrowers. 
  • U.S. Consumer Debt at Record High

    By:
    Chris Gaetano
    |
    Jul 14, 2017
    People across the country have been breaking out the credit cards more eagerly than before, as recent data has found that Americans collectively now have credit card debt totaling $1 trillion, with household debt now the highest its ever been at $12.73 trillion. 
  • Senators Ask FTC to Review IRS Private Debt Collectors

    By:
    Chris Gaetano
    |
    Jul 13, 2017
    Four U.S. Senators have requested that the Federal Trade Commission review whether the four private debt collection firms hired by the IRS to contact holders of delinquent tax liabilities are in compliance with the Fair Debt Collection Practices Act. 
  • Study: 44 Percent Supplement Income with Side Hustle

    By:
    Chris Gaetano
    |
    Jul 13, 2017
    The days where having one job and one job only seem to be fading into the past, as a recent survey has found that 86 percent of people supplement their income with a side gig of some sort or another. 
  • Security Firm CEO Hacked, Declared Bankrupt

    By:
    Chris Gaetano
    |
    Jul 12, 2017
    In an irony that could only be called Sophoclean, the CEO of the largest security firm in Sweden had his identity stolen and used to apply for bank loans and, later, declare bankruptcy. 
  • AICPA Buys High School Accounting Curriculum Training Program, Seeks to Train Teachers

    By:
    Chris Gaetano
    |
    Jul 12, 2017
    Seeking to enhance the quality of accounting education at the high school level, and to encourage more young people to pursue accounting careers, the AICPA has acquired the Accounting Pilot and Bridge program, which trains high school educators to teach a higher level accounting curriculum.
  • CFPB Approves Rule Restricting Use of Mandatory Arbitration

    By:
    Chris Gaetano
    |
    Jul 11, 2017
    The Consumer Financial Protection Bureau (CFPB) just issued a new rule that restricts the ability of banks and other financial institutions to mandate the use of private arbitration in the event of a dispute, opening up more pathways for litigation instead. 
  • Head of Defunct Bitcoin Exchange Pleads Not Guilty to Fraud Charges

    By:
    Chris Gaetano
    |
    Jul 11, 2017
    Mark Karpeles, the former CEO of the now-defunct Bitcoin exchange MtGox, has pleaded not guilty to embezzlement and data manipulation charges that Japanese authorities leveled at him in the wake of the exchange's spectacular collapse in 2014.