October 7, 2022

Accounting News Roundup: Ex-Grant Thornton Partner Sentenced for Embezzlement; A Losing Bet in Tax Court; Busy Season Just Might Kill You | 03.13.14

Ex-Grant Thornton partner gets 4-1/2 years for $4 mln theft [Reuters, Earlier]
Craig Haber will be hanging at Club Fed for a while despite his lawyer's plea for leniency: "His lawyer, Michael Bachner, sought leniency and had asked for a non-prison sentence, citing Haber's lack of a prior criminal history and his need to supervise his autistic son. But U.S. District Judge Kevin Castel in Manhattan said such a sentence would send the wrong message, saying punishment was needed in a case characterized by Haber's 'greed.' He noted that Haber's scheme ran from 2004 to 2012, a period when Haber was a partner in Grant Thornton's New York office handling tax matters and earning a total of nearly $6.9 million. 'That, apparently, was not enough,' Castel said."

Professional Gambler Bets Wrong In Tax Court – Takeout Expenses Are Gambling Losses, Not Business Expenses [Forbes]
Tony Nitti fantasizes about giving it all up to become a bookie which segues nicely into a recent story about gambling tax law. 

Working Long Hours Is Hazardous to Your Health and Your Productivity [Lifehacker]
And there's data to back it up! "The OECD, or the Organization for Economic Cooperation and Development, examined the relationship between premature death in developed countries and working hours in those countries, as reported. They then plotted the data on a scatter graph […] that put those average annual working hours against 'potential years of life lost,' (PYLL) aggregated across the population."

Mike Lee’s Tax Plan: An Intriguing Idea That Would Add $2.4 Trillion to the Deficit [TaxVox]
If members of Congress were honest and/or smart, they'd label every one of their proposed bills as "An Intriguing Idea That Would Add $2.4 Trillion to the Deficit."

Offshore Profits Avoid IRS Reach [Bloomberg Visual Data]
A fun infographic that helps illustrate offshore profits, including the 22 companies who have $984 billion — more than half of the total — outside the U.S.

Life at Deloitte involves listening to United Way campaign presentations (obviously).

How PwC surpassed Deloitte as region's top CPA firm [PBJ]
They'll take the small wins wherever they can get them!

Hockey Fans Suing Arena Over Misleading Beer Prices [AP via Deadspin]
I'm shocked — SHOCKED — to learn that the $7 beers have the same volume as the $4 beers.

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