One month after four employees of Big Four firm Ernst & Young were charged with conspiracy to commit tax fraud, a former employee of the audit firm has pled guilty to similar charges. Dallas-based E&Y employee Belle Six entered her plea in Federal District Court in Manhattan. Six, who worked in the firm's Viper Group that created and sold tax shelters, will, according to her agreement, forfeit some $13 million she received as compensation.
The Governmental Accounting Standards Board debuted a series of videos to help officials understand the information included in government financial reports.
A judge ruled the IRS can't classify micro-captive insurance as a listed transaction, but allowed classifying it as a "transaction of interest."
While the specific impacts are still being determined, professional liability insurers that cover CPA firms increasingly are coming to a consensus that AI is a source of risk that must be controlled by strong governance.
Kentucky has become the latest state to pass legislation offering an alternative pathway to qualifying for a CPA license to broaden the talent pipeline.
Businesses can file their claims for refunds on the tariffs they paid under the emergency powers that the Supreme Court has since ruled unconstitutional.
Small businesses that don't qualify for a payroll tax break are still receiving it, despite the IRS's efforts to stop them, according to a new report.
