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December 5, 2022

Accounting News Roundup: EY’s Atlantic City Gig Makes Trouble for Christie; KPMG on Edible Passports; IRS Wants Its Billions Back | 04.22.15

Chris Christie Officials Give Atlantic City Contract To Firm Of Governor’s Brother [IBT, Earlier]
An executive order awarded EY a $250k consulting gig to come up with a plan "to place the finances of Atlantic City in stable condition on a long-term basis," and people started asking questions. The firm responded by saying that, "Todd Christie has no involvement in any work with the government of New Jersey." 
 
Loans aren’t taxable, until you don’t have to pay them [Tax Update]
Forgiven loans aren't free.

Just a brief follow-up on Jesse Eisinger's whistleblower story we linked to yesterday.

KPMG reacts to edible passports call by Paypal [PlanetBiometrics]
With skepiticism!

A Conversation With R. Byron Carlock Jr., Partner at PricewaterhouseCoopers [NYT]
If real estate is your thing.

Oil Price Rout Has CEOs Courting Accountants Not Wildcatters [Bloomberg]
If oil & gas is your thing.

IRS Seeks Record $2 Billion In Back Taxes From Prominent Businessman And Philanthropist Sam Wyly [Forbes]
If offshore trusts are your thing.

Nine Indicted in Bourbon Heists Involving Wild Turkey, Pappy Van Winkle [WSJ]
Black market bourbon! "A grand jury in Frankfort, Ky. indicted nine people for alleged involvement in a bourbon-theft ring that stole more than $100,000 of whiskey, including hard-to-find Pappy Van Winkle and several barrels of Wild Turkey, the Franklin County Commonwealth’s Attorney office said. The county sheriff’s office said it uncovered the ring after receiving a tip about barrels in the backyard of a man named Toby Curtsinger that allegedly were stolen from Wild Turkey, a unit of Davide Campari-Milano SpA. The detectives linked the bourbon to an employee at Wild Turkey who worked on the loading dock and hauled bourbon between the distillery’s warehouses, the sheriff’s office said. The sheriff’s office said it also recovered more than 20 cases of Pappy Van Winkle—one of the most expensive bourbon brands at $50 to $250 a bottle—as part of the investigation." 

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