Specialized accounting search

10+ hour, 9+ min ago (465+ words) Even as some of its agents were called away to support other federal operations, IRS Criminal Investigation had a banner year in Fiscal 2025, identifying $10.59 billion in financial crimes " almost 16% more than in 2024. As part of that, according to its'Fiscal Year 2025 Annual Report, IRS-CI uncovered $4.5 billion in tax fraud, an astonishing 111.8% more than the year before. It also issued 25% more search warrants, and referred 14% more cases for prosecution by the Department of Justice. While the unit spent the majority of its time (almost 64%) on tax crimes, it also investigated narcotics-related crime, cybercriminals, and bank fraud, among other areas. Team members played major roles in the federal government's efforts at policing Washington, D.C., and Memphis, Tennessee, and some also assisted Immigration and Customers Enforcement in their activities this year. "Our work plays an integral role in shutting down criminal networks that try to…...

2+ day, 8+ hour ago (741+ words) Malden, Massachusetts: Tax preparer Yves Isidor, of Somersville, Massachusetts, has been sentenced to 18 months in prison for filing false returns for clients. Isidor caused a loss to the United States of $443,000. He was also ordered to serve a year of supervised release. Wilmington, Delaware: Domenico Mazzella, owner and operator of a local Italian restaurant, has pleaded guilty to a multiyear scheme to evade taxes. Mazzella pleaded guilty to four counts of tax evasion and 12 counts of failure to collect, account for and pay over trust fund taxes. He has agreed to pay $549,370.39 in restitution to the IRS. He faces up to five years in prison for each of the 16 counts of conviction. Honolulu: Four individuals from Hawaii have been convicted for their roles in a tax refund fraud scheme. To prevent the IRS from recovering the fraudulently obtained refunds, the…...

2+ day, 14+ hour ago (225+ words) Camp Hill, Pennsylvania-based Regional Leader Brown Plus announced that it will add Lancaster-based Ross Buehler Falk & Co. LLP, effective Jan. 1. The move is expected to boost Brown Plus' presence in Central Pennsylvania and the Lancaster area, where RBF has been serving clients since 1985. Financial terms of the deal were not disclosed, but it is expected to increase Brown Plus' headcount to 166 team members, with 22 principals. RBF partners Sean Smith and Jeffrey Groff will join Brown Plus as principals, while MP Jeffrey Bleacher will be retiring." RBF's Lancaster office will remain open until the end of the 2026 tax season, after which it will combine with the current Brown Plus Lancaster office. The Regional Leader will add Lancaster-based Ross Buehler Falk & Co. effective Jan. 1. CPA Firm Management Association appoints board of directors; EY names new Louisville office managing partner; and more news…...

2+ day, 14+ hour ago (341+ words) The Internal Revenue Service is reminding taxpayers who finalized an adoption this year or who started their adoption process before 2025 that they may qualify for the Adoption Tax Credit, adding that changes to the credit come in the wake of One Big Beautiful Bill Act. The credit can be claimed for eligible expenses related to international, domestic, private and public foster care adoptions. The maximum Adoption Credit that taxpayers can claim on their 2025 return is $17,280 per eligible child. Among recent changes: Taxpayers who adopt their spouse's child can't claim this credit, nor can taxpayers who carry out a surrogate parenting agreement.Taxpayers can also use the Interactive Tax Assistant to'determine their eligibility. Eligible expenses include "reasonable and necessary" adoption fees, court costs and legal fees, adoption-related travel expenses such as meals and lodging, and other expenses directly related to the…...

2+ day, 16+ hour ago (131+ words) The preeminent question on many firm leaders' minds these days seems simple: To PE, or not to PE? A baker's dozen of key takeaways from our PE Summit for accounting firms looking to secure their future " whether with private equity or not. A significant proportion of firms have yet to implement new audit technologies and methods, citing poor training, lack of quality data, lack of systems access and lack of funds as the primary reasons. The Regional Leader will add Lancaster-based Ross Buehler Falk & Co. effective Jan. 1. CPA Firm Management Association appoints board of directors; EY names new Louisville office managing partner; and more news from across the profession. Plus, Ramp touts 1099 solution; Certinia's winter release includes automation, insights, operations; and other accounting tech news and updates....

2+ day, 16+ hour ago (464+ words) A significant proportion of firms have yet to implement new audit technologies and methods, citing poor training, lack of quality data, lack of systems access and lack of funds as the primary reasons." This is according to CPA.com's annual Audit Transformation Survey, which found that while audit technology is evolving and the adoption of modern audit methodologies is beginning to accelerate, firms are only just starting to embrace them, meaning a significant proportion of professionals have yet to enact dramatic changes to their practices." While the 22% saying they use no automated solutions at all may at first seem unintuitive (it's unlikely they're sending people to manually scan every single invoice, for example), Emily Remington, director of audit professional services with CPA.com, clarified that digitized does not necessarily mean automated." At the same time, the report noted that firms…...

2+ day, 18+ hour ago (169+ words) The pipeline problem remained top of mind for this year's Top 100 Most Influential People in Accounting, but many other issues " both directly related to the talent crisis or recently emerging " were also identified as areas to keep an eye on." We asked this year's candidates, "What is the most important issue currently facing the accounting profession?"" The Top 100 People shared what exactly is keeping them up at night, and we've included a selection of those responses here. As part of this year's Top 100 Most Influential People survey, Accounting Today asked, "What is the most important issue currently facing the accounting profession?" Platform Accounting Group expanded in Oregon; Springline Advisors acquired Actuarial Resources; Sorren added RTO; Patrick Accounting and Tax Services is buying Knight Home Care Financial. Steve Lockshin and Michael Kitces tied what they view as some mistaken assumptions around…...

2+ day, 18+ hour ago (641+ words) For decades, accounting has faced an image problem. It's seen by many as a career of endless spreadsheets, thankless busywork and too many late nights in fluorescent-lit offices. And for many accountants, that's the reality." It's no surprise, then, that young professionals have opted for other careers. This, combined with veteran accountants retiring at a faster rate than new professionals entering the field, has led to the current talent crisis. Yet, client demand and regulatory complexity are increasing and adding more pressure to already constrained resources. Accountants need to be wise enough to invest in technological change that will not only attract the next generation of accounting talent but also fundamentally reshape the economics of the field. Since the market is starting to evolve from AI hype, accounting leaders know that AI can improve tasks and streamline operations. But AI…...

2+ day, 19+ hour ago (323+ words) The SEC's Office of Investor Education and Assistance is issuing this Investor Bulletin to help educate retail investors about the ways investors can hold crypto assets. This Investor Bulletin provides an overview of types of crypto asset custody and provides tips and questions to help you decide how to best hold crypto assets. What is crypto asset custody? Crypto asset "custody" refers to how and where you store and access your crypto assets. You generally access crypto assets through a device or computer program referred to as a crypto wallet. Crypto wallets do not store crypto assets themselves; instead, they store the "private keys" or passcodes for your crypto assets. When you create a crypto wallet, the following two keys or passcodes are created: Together, these keys prove your ownership of the crypto asset and grant you the rights to…...

2+ day, 20+ hour ago (123+ words) CPA Firm Management Association appoints board of directors; EY names new Louisville office managing partner; and more news from across the profession." CPA.com and AICPA announce upgrades to DAS; Certinia winter release includes automation, insights, operations; Ramp touts 1099 solution; and other accounting tech news and updates. As part of this year's Top 100 Most Influential People survey, Accounting Today asked, "What is the most important issue currently facing the accounting profession?" Platform Accounting Group expanded in Oregon; Springline Advisors acquired Actuarial Resources; Sorren added RTO; Patrick Accounting and Tax Services is buying Knight Home Care Financial. Steve Lockshin and Michael Kitces tied what they view as some mistaken assumptions around fees to the competitive need for more estate planning services....