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Opinion: The IRS Shows What Government Efficiency Really Looks Like

CPA Practice

government operate more proficiently. Audits for the top 0.1% Second, the average doesn’t consider the effect on tax collection in the years following an audit. When examining the tax returns of households that had been audited, tax receipts were higher in the following 14 years for which they have data.

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Here’s Why Maryland Paid the IRS $5.4 Million in Taxes

CPA Practice

Smith School of Business, told The Baltimore Sun he wasn’t surprised to see the IRS conduct a payroll audit, even if he wasn’t sure how often the agency examines state governments. It’s very labor intensive.” “It might be the first time the state has ever been audited,” Lierman said.

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Blog: The 'XYZ Letter' and your sales tax compliance

TaxConnex

Other exemptions can apply to transactions with special entities like government organizations and nonprofits. One of the downsides, is that if you are selling to small businesses, small businesses are less likely to have accrued and paid use tax or to have been audited.

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Why Microsoft’s $29 Billion Tax Bill Could Be the Big Knockout Punch in Fight with the IRS

CPA Practice

By Clint Rainey, Fast Company (TNS) Way back in 2012, the IRS launched the largest-ever audit in history, accusing Microsoft of stashing billions in offshore tax havens to dodge U.S. Microsoft’s accounting firm KPMG had spelled out explicit steps to convince the government that the Puerto Rico venture was “real.”

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Wirecard Forces ‘Radical’ Reboot Of German Accounting Regs

PYMNTS

The government is expected to end its contract with the Financial Reporting Enforcement Panel (FREP), the country’s accounting watchdog, as early as Monday, sources told the Times. “We German regulators have faced accusations that they failed to adequately supervise Wirecard, which has been audited by Ernst & Young , the Times reported.

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Friday Footnotes: Florida Man’s Tax Problem; Accountants Are Walking Out; BDO Assures on Tether | 2.10.23

Going Concern

The gap came in part from supplier financing that wasn’t reflected the right way in the company’s financial statements, which have been audited by PwC since 2019. We have seen an immense commitment from the government to invest in the metaverse and explore the technology’s public utility.

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When You Need to Hire a Pro: Online Accounting Service for Small Business

xendoo

When you need to deal with government red tape. This year has been so hard on small businesses. As the government continues to implement and propose new measures to help companies manage the economic consequences of the COVID-19 pandemic, you need to know how to account for the assistance. When you have been audited.