Latest Articles

  • Burglars Steal 220-pound Gold Coin Worth $4 Million

    By:
    Chris Gaetano
    |
    Mar 28, 2017
    A 20-inch wide, 220-pound solid gold coin was stolen from Berlin's Bode Museum, estimated to be worth approximately $4 million.  
  • Regulatory Roundup: March 22-28

    By:
    Chris Gaetano
    |
    Mar 28, 2017
    With so many regulators out there, it can be tough to keep track of everything they say from week to week. Luckily we here at the Trusted Professional have collected relevant regulatory announcements from this past week and put them here in one place to help you stay on top of regulatory issues or matters. 
  • Study: CPA Firms Put More Customers on Hold Longer Than National Average

    By:
    Chris Gaetano
    |
    Mar 27, 2017
    While the average business will put their customers on hold about 70 percent of the time, CPA firms do so pretty much 100 percent of the time, according to Accounting Today. 
  • Study: Audits Have Deterrent Effect Only if Additional Tax Assessed

    By:
    Chris Gaetano
    |
    Mar 27, 2017
    An IRS study has found that people who have been audited become much more honest on their taxes for years after the fact, but this is only if the engagement ended with them having to pay more money. If the audit ended with no additional tax assessed, the opposite happens, with the taxpayer becoming less likely to comply with the law. 
  • Vote on Obamacare Replacement Stalls in House, Trump Responds With Ultimatum

    By:
    Chris Gaetano
    |
    Mar 24, 2017
    The expected vote on the American Health Care Act, the proposed replacement for the Affordable Care Act, did not happen on Thursday amid a shortage of votes, and in response President Trump has said the bill must pass today or else he will simply move on to other legislative priorities. 
  • More Than Half of Professionals Eat Lunch at Desk

    By:
    Chris Gaetano
    |
    Mar 24, 2017
    A majority of professionals eschew the company of others during lunch according to recent research that has found 62 percent opt to eat their lunch alone, at their desks. 
  • TIGTA: 1.4 Million Employers Owe $45.6 Billion in Unpaid Employment Taxes

    By:
    Chris Gaetano
    |
    Mar 23, 2017
    The Treasury Inspector General for Tax Administration issued a report saying that the federal government needs a better strategy for address employment tax noncompliance, as it has determined that, as of 2015, 1.4 million employers owed approximately $45.6 billion in unpaid employment taxes, interest, and penalties. 
  • MF Global, PwC Agree to Settlement

    By:
    Chris Gaetano
    |
    Mar 23, 2017
    MF Global, the brokerage firm that experienced a spectacular collapse in 2011, has come to a settlement with Big Four firm PwC in its lawsuit over whether the accounting advice the firm gave it was responsible for the meltdown. 
  • Proposed Bill Would Make PCAOB Disciplinary Proceedings Public

    By:
    Chris Gaetano
    |
    Mar 22, 2017
    Senators Chuck Grassley (R - Iowa) and Jack Reed (D - Rhode Island) have reintroduced as bill that, if passed, would make the currently closed disciplinary proceedings of the PCAOB public, similar to the SEC's current rules of practice. 
  • Study: Tax Avoidance, Tax Audits Both Increase Based on Proximity to an IRS Office

    By:
    Chris Gaetano
    |
    Mar 22, 2017
    A recent study has found that the closer a public company is to an IRS office, the more it is that it will be audited by the IRS, though this could be because, according to the study, these companies also engage in higher levels of tax avoidance activity.