Latest Articles

  • Indian Authorities Arrest Ringleader of IRS Impersonator Scam

    By:
    Chris Gaetano
    |
    Apr 10, 2017
    Indian authorities arrested a man they say was behind a wave of scam phone calls from people claiming to be from the IRS, which swindled millions of dollars from its victims in the U.S. 
  • SEC Cracks Down on Paid Advertisements Disguised As Independent News

    By:
    Chris Gaetano
    |
    Apr 10, 2017
    The Securities and Exchange Commission (SEC) filed enforcement action against 27 entities and individuals who hired writers to promote their stocks but then failed to disclose they had done so, leading readers to believe the paid promotions were impartial news. 
  • More Americans Work At Big Firms Than Small Ones

    By:
    Chris Gaetano
    |
    Apr 7, 2017
    For generations, if you were a worker in the U.S., it was very likely that you were employed by a small business with fewer than 100 people. In the wake of the economic crisis of 2008, however, this is no longer the case, as large and very large companies now employ a larger percentage of the population than mid-sized or small businesses. 
  • What's Your Tax Data Worth? About Fifty Bucks

    By:
    Chris Gaetano
    |
    Apr 7, 2017
    While identity theft can be a very expensive crime for its victims, it's actually quite cheap for its perpetrators, as buying packages of pilfered tax data will set them back only about $40 or $50 at the most, with some going as cheaply as eight dollars. 
  • Accounting-related Class Action Lawsuits Rose 33 Percent in One Year

    By:
    Chris Gaetano
    |
    Apr 6, 2017
    The number of class action lawsuits filed over accounting matters increased by 33 percent between 2015 and 2016, with the total number of 93 being the highest it's been since the height of the economic crisis in 2008. 
  • GAO Releases Proposed Changes to Yellow Book Auditing Standards

    By:
    Chris Gaetano
    |
    Apr 6, 2017
    The Government Accountability Office (GAO) released today its proposed changes for Government Auditing Standards, also known as the Yellow Book, which is meant to take into account new developments in accounting, auditing and financial review since 2011, the last time the standards received a major revision.
  • IRS to Revive Private Debt Collection Program This Week

    By:
    Chris Gaetano
    |
    Apr 5, 2017
    The IRS will be formally launching its revived private debt collection program this week when it sends letters to a few hundred taxpayers that their delinquent accounts have been assigned to a private sector collection agency. 
  • Study: Few IRS Anti-Structuring Law Seizures Involved Criminal Enterprises

    By:
    Chris Gaetano
    |
    Apr 5, 2017
    The Treasury Inspector General for Tax Administration (TIGTA) said that most of the assets seized by IRS Criminal Investigation for violations of anti-structuring laws involved funds that were legally sourced, even though the goal of such seizures is to disrupt criminal enterprises. 
  • Republican and Democratic Senator Propose Forbidding Companies From Writing Off Regulatory Penalties

    By:
    Chris Gaetano
    |
    Apr 4, 2017
    Today if a company is fined by a regulatory agency like the Securities and Exchange Commission, they're allowed to write off that loss on their taxes if it is not paid directly to the government as a penalty or fine. A bill proposed by Republican Senator Charles Grassley and Democratic Senator Jack Reed would end that by requiring that companies and regulators work out exactly what fines and penalties are punitive and therefore cannot be the subject of tax write-offs. 
  • Study: Gender Pay Gap Widened

    By:
    Chris Gaetano
    |
    Apr 4, 2017
    While there has been much progress on the gender pay gap over the decades, a recent study has shown a slight regression from 2011 to 2015, going from 97 cents on the dollar to 90.