October 3, 2022

Accounting News Roundup: ‘The full-employment act for CPAs’; H&R Block Sued Over Tax Prep Snafu; Disappointing Robbery at CPA Firm | 03.20.13

Stressed Tax Preparers Find Relief in Mardi Gras, Massages [Bloomberg]
"It’s information overload," says Lori Kelley, partner at accounting firm Warren Averett in Destin, Florida. "It's almost comical. You want to laugh until you cry, sometimes." Marilyn Niwao, a lawyer and accountant based in Hawaii, recalls how when she started out 30 years ago, she had a "great time saving people lots of money." Now, she and some other experienced preparers "feel stuck in our profession," she says, and preparing taxes is "super unpleasant and much more burdensome." On the bright side: The latest changes are "the full-employment act for CPAs," says Blake Christian, a tax partner at accounting firm Holthouse, Carlin & Van Trigt.

H&R Block return error triggers class-action suit [KCBJ]
A class-action suit was filed against H&R Block Inc. on Tuesday for the faulty filing of hundreds of thousands of tax returns that led to a delay of payment for as long as six weeks. The suit alleges that H&R Block advertises a 100 percent accuracy guarantee for all of its products and that the company made a mistake but hasn’t offered compensation to any of the plaintiffs or members of the class.

What the Tax Policy Center Really Said About the Ryan Budget [TaxVox]
TPC found that tax cuts similar to those described in the committee’s plan would add $5.7 trillion to the budget deficit over the next decade. Republicans responded by suggesting we came up with these numbers while “smoking something.” Democrats concluded that TPC proved the GOP plan would raise taxes on the middle-class by trillions of dollars. To our GOP critics, I am fairly sure our modelers were not under the influence of illicit drugs while running the Ryan budget. I can’t say for sure, but they mostly prefer to hang out in the gym. To the Democrats who so enthusiastically embraced our analysis, thank you for your support.  However, we did not say what you wish we had said.  

KPMG CEO Veihmeyer: Innovation vital for companies to achieve growth [BC]
The CEOiest CEO thing ever uttered.

States, Local Governments Consider Aggressive Tax Collection Efforts To Plug Budget Holes [Forbes]
Hide your car, hide your house.

Former CalPERS CEO Accused Of Fraud, Definitely Innocent Of Stealing Office Supplies [DB]
"You might reasonably ask: why couldn’t the CEO of CalPERS get actual CalPERS letterhead? That is the great mystery of this case and I’ve yet to see an answer." 

The complete guide to taking notes effectively at work [Quartz]
Make a note to read this.

Robbery at Springfield Accounting Firm [WGGB]
Some idiot must've thought that an accounting firm would be flush with cash. The suspect got away with $20 and a DVD player.

Manager: Diaz has paid taxes in last two years [USAT via TaxProf]
The recent UFC welterweight title challenger, who lost to champion Georges St-Pierre on Saturday in UFC 158, might need to file past tax returns, said his longtime manager, Cesar Gracie. Diaz, who initially shirked UFC 158's post-event news conference before showing up late, perked up ears when, in the midst of a rambling assessment of his performance, he claimed he had never paid U.S. income taxes. Gracie, who also trains Diaz, said the fighter misspoke and that Diaz has paid more than $100,000 to the government in the last two years. "Nick is a little crazy, but he has paid taxes," Gracie told USA TODAY Sports on Monday.

Man charged with exposing himself to wedding party [ABC4]

According to a police report, Samuel James Dengel, a 20-year-old student, was charged with indecent exposure after several members of a wedding party in the courtyard of the Double Tree Inn on Church Street identified him as the man who had first waved to them fully clothed and then exposed himself. Witnesses told police that Dengel crossed the line when he stepped up to the window completely nude and pressed his genitals and buttocks on the glass, the report states. According to police, when officers arrived at Dengel's door, he was only wearing a towel. A woman was in the room with him, the report states.

Flicker image courtesy of TJCoffey under creative commons license

 

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