IRS releases enforcement highlights
The Internal Revenue Service released its enforcement results for fiscal year 2005. IRS Commissioner Mark W. Everson, noting that he is at the mid-point of his five-year term heading up the agency, said that the IRS is continuing to work towards three goals - better serving the taxpayers, continuing modernization and enhancing enforcement activities.
For the fiscal year ended Sept. 30, Everson said that enforcement revenues - the funds being received from the IRS collection, examination and document matching activities - are up by 10 percent, to a record $47.3 billion. He also said that individual returns audited increased by over 20 percent, to 1.2 million in 2004. Audits of individuals with incomes over $100,000 also surpassed 221,000 - the highest figure in 10 years.
Everson also noted that in the past year:
* Audits of small businesses organized as corporations turned up after years of decline. 17,867 were completed in 2005, compared to 7,294 a year earlier;
* Audits of larger corporations, those with assets over $10 million, also increased, up 14 percent from a year ago, to 10,878;
* The agency's toll-free tax law accuracy hit a high of 89 percent, and customer satisfaction with the IRS's toll-free service was a record 95 percent.
KPMG creates new vice chair ops
Jack T. Taylor has been named to the newly created position of executive vice chair of operations for KPMG LLP. Taylor, 53, was formerly vice chair of operations and audit and risk advisory services, where he was responsible for operations and client-service delivery. A member of the firm's management committee, he also serves as the relationship partner for several Fortune 500 companies. In addition, Henry Keizer was named vice chair of audit; Mark Goodburn was named vice chair of advisory; Peter Minan was named national managing partner of audit; and Lynne Doughtie was named national managing partner of advisory.
Another top accountant leaving SEC
Securities and Exchange Commission deputy chief accountant Andrew D. Bailey Jr. will leave the commission in December. In a statement, chief accountant Don Nicolaisen praised Bailey's contributions since joining the SEC in January 2004 to lead the agency's audit group. Nicolaisen said that Bailey was a big part of efforts to implement Section 404 of the Sarbanes-Oxley Act and establish a working relationship with the Public Company Accounting Oversight Board.
Bailey's departure will leave SEC Chairman Christopher Cox with another hole to fill: Nicolaisen had already announced his own plans to leave the commission and return to the private sector.
H&R Block COO to step down
H&R Block Inc. said that its chief operating officer, Jeffrey Yabuki, is stepping down to run data processing provider Fiserv Inc. Yabuki will become president, chief executive and a member of the board of directors of the Brookfield, Wis.-based company. The move, to replace Fiserv's retiring top executive, will take place by Dec. 1. Yabuki started with H&R Block in 1999.
Mark Ernst, H&R Block's chairman and CEO, said that the company will immediately begin looking for a replacement.
In the Accounting Today Top 100 Most Influential People, the biography for California Society of CPAs CEO John Dunleavy should have stated that, during his tenure, the organization increased its new membership by more than 35 percent, and that he was instrumental in warding off a takeover of the California Board of Accountancy.
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