IRS sends second round of warnings to cryptocurrency investors
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IRS budget cuts cost $34.3B in lost revenue from big business Unsubscribe  •  View in browser
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August 16, 2019
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IRS budget cuts cost $34.3B in lost revenue from big business
By Michael Cohn      3 min read
The federal government is collecting billions of dollars less than it could because of resource shortages at the tax agency, according to a new study.
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IRS sends second round of warnings to cryptocurrency investors
By Lynnley Browning      3 min read
There's a new front in the agency’s burgeoning scrutiny of the crypto industry.
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Why auditors need to be sent to ‘Fraud School’
By Drew Bernstein      5 min read
The prevalence of fraud in modern corporations is astounding when one considers the architecture that is in place to eliminate it.
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AICPA honors three with education awards
By Sean McCabe      2 min read
The American Institute of CPAs recognized three members of academia for their contributions to accounting education at the American Accounting Association annual meeting in San Francisco.
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GASB offers implementation guide on lease accounting
By Michael Cohn      1 min read
The Governmental Accounting Standards Board has released questions and answers about the recent standard on accounting and financial reporting for leases by state and local governments.
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FASB issues proposal to delay new standards
By Michael Cohn      2 min read
The board wants to give private companies, nonprofits, and certain small public companies extra time to implement new standards on CECL, leases and hedging.
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Tax Fraud Blotter: Citizen pain
By Jeff Stimpson      6 min read
Renters’ rebates; nominal fees; bail fail; and other highlights of recent tax cases.
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GE sinks most since 2015 as Madoff accuser excoriates accounting
By Tony Robinson and Katherine Chiglinsky      2 min read
General Electric shares plunged after a prominent whistle-blower working with a short-seller accused the company of masking financial problems.
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Non-accountants comprise 31% of new hires in firms: AICPA
By Sean McCabe      3 min read
The institute's “2019 Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits" also found high collegiate accounting enrollment numbers, as well as boosts in diverse accounting graduates.
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Reality TV stars Todd and Julie Chrisley indicted for tax evasion
By Michael Cohn      3 min read
Todd and Julie Chrisley, the stars of the reality TV series “Chrisley Knows Best,” were indicted by a federal grand jury in Atlanta on charges of tax evasion, bank fraud, wire fraud and conspiracy, while their accountant Peter Tarantino was also indicted on tax-related charges Tuesday.
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