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Layoff Watch ’26: KPMG Cuts 4% From Consulting

We've got another RIF at KPMG, a consulting cull that went down yesterday (that's Wednesday the 29th for those of you reading this a week from now). Let's start with…

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The Department of War Broke Up with KPMG, KPMG Gives Up Federal Audits Altogether

The other day -- and by the other day we mean like more than a week ago -- we received a text on the tipline that read "KPMG US to…

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KPMG Shoves 10% of Its Audit Partners Out the Door

We're sure you've seen this FT headline floating around today: KPMG to axe 10% of US audit partners. And if you, like most denizens of the internet these days, read…

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PwC Tells Remote Tax Staff to Get Their Butts Into the Office

So much for PwC letting all their people work remotely forever. Remember when that got headlines five years ago? See: PwC Just Announced That You Never Have To Go Back…

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KPMG Plans to Hand Routine Testing Off to AI

Did you happen to see this WSJ article from the other day? In "In This Critical Part of Audits, the Accountant’s Role Is Shrinking Fast," we're given a look into…

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Friday Footnotes: Maybe Deloitte Doesn’t Need Employee Trust and Retention; Minnesota Wants to Tax Fraud at 100 Percent | 5.1.26

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you're here, subscribe to our newsletter to…

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KPMG office exterior with scissors overlay

Layoff Watch ’26: KPMG Cuts 4% From Consulting

We've got another RIF at KPMG, a consulting cull that went down yesterday (that's Wednesday the 29th for those of you reading this a week from now). Let's start with…

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Aerial view of the Pentagon

The Department of War Broke Up with KPMG, KPMG Gives Up Federal Audits Altogether

The other day -- and by the other day we mean like more than a week ago -- we received a text on the tipline that read "KPMG US to…

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Monday Morning Accounting News Brief: 990s to Get a Facelift; DOJ Gets Busy Busting Fraud | 4.27.26

Hey. Looking like this is gonna be a short news brief, it was a quiet weekend. In accounting, anyway. In this news briefEveryone Loves an Informative 990The Official IRS Shit…

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Friday Footnotes: Partners Taking Ls; PwC Eats a Big Ol’ Fine; A Post 4/20 IRS Surprise | 4.24.26

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you're here, subscribe to our newsletter to…

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Technology

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KPMG Plans to Hand Routine Testing Off to AI

Did you happen to see this WSJ article from the other day? In "In This Critical Part of Audits, the Accountant’s Role Is Shrinking Fast," we're given a look into…

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AI Will Be EY Auditors’ New BFF, According to EY

While staff in tax at EY US will soon be spending more time with their flesh-based colleagues due to a return-to-office mandate that requires them in the office for an…

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ICYMI: According to This AI CEO You Won’t Have to Go to Work in a Year

Commence to fantasizing about what you'll do with all that glorious free time when you lose your job to AI in 12-18 months because that's the confident prediction made by…

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Another Early AI Accounting Startup Just Bit the Dust

TIL that early AI accounting platform Botkeeper has died. I found out via this CFO Brew article which pointed to a post on Botkeeper's own site. Turns out r/accounting was…

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KPMG Brings Cheating Into the AI Age By Using AI to Cheat on AI Exams

The image is upside down because Australia. This story sounds like a joke but we assure you it is not. KPMG Australia has expanded KPMG's storied cheating repertoire by being…

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Practice Management

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Top Remote Tax and Accounting Candidates of the Week | October 16, 2025

Struggling to Find Remote Accounting or Tax Talent? We’ve Got You Covered.If your firm or internal team is having a tough time sourcing qualified remote tax and accounting professionals, you're…

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Top Remote Tax and Accounting Candidates of the Week | October 2, 2025

Struggling to Find Remote Accounting or Tax Talent? We’ve Got You Covered.If your firm or internal team is having a tough time sourcing qualified remote tax and accounting professionals, you're…

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Top Remote Tax and Accounting Candidates of the Week | September 25, 2025

Struggling to Find Remote Accounting or Tax Talent? We’ve Got You Covered.If your firm or internal team is having a tough time sourcing qualified remote tax and accounting professionals, you're…

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tax hiring season

Top Remote Tax and Accounting Candidates of the Week | September 18, 2025

Struggling to Find Remote Accounting or Tax Talent? We’ve Got You Covered.If your firm or internal team is having a tough time sourcing qualified remote tax and accounting professionals, you're…

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Top Remote Tax and Accounting Candidates of the Week | September 4, 2025

Struggling to Find Remote Accounting Talent? We’ve Got You Covered. If your firm or internal team is having a tough time sourcing qualified remote tax and accounting professionals, you're not…

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Quick Reads

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Here Are Tax and Audit Salaries at Top 25, Top 300, and Regional Firms

Recruiting firm Brewer Morris has released its 2025 US CPA salary guide and should you want to read the whole thing you can request it from them here. Perhaps you,…

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Friendly Reminder Not to Work Yourself to Death For This Profession

Saw this on the bird app yesterday and thought its message would be worth passing along what with 20 days remaining until April 15 and nerves as strained as ever…

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Accounting Firm Abruptly Nopes Out of Tax Season Early (UPDATE)

Ed. note: An earlier version of this article's headline stated the sheriff is investigating. The Alexander County Sheriff's Office informed us they are not investigating, only fielding calls from the…

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This Deloitte Office Has Eliminated Trash Cans at Desks to Make Staff Get Up Off Their Asses

Boston Business Journal wrote an article about Deloitte's new office in Boston and for some reason they chose to lead with this: You won’t find trash cans at the desks…

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The IRS Decided to Troll Tax Pros For 10/15

We realize the decision to run maintenance on IRS systems likely isn't made by anyone who understands deadlines but surely someone who does could inform the IT department of these…

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Top Remote Accounting Freelancers: February 3, 2024

Looking to staff up for a season or hire a freelancer for a project? Accountingfly is ready to partner with you! Gain full access to a pool of highly skilled…

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10 Essential Project Management Principles for Accounting Firms

Every accounting firm struggles with project management, with smaller practices that are rapidly expanding taking the brunt of the damage. As your firm adds new clients, takes on more work,…

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6 Ways Email is Secretly Destroying Your Accounting Firm

Email: The word itself sounds innocent, doesn't it? Kind of like "snail mail," but faster, sleeker, and without the slimy trail. But don't be fooled—email is secretly a sinister beast,…

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Don’t Grow Your Accounting Firm Out of Business! Break Up With These Unscalable Practices Now

Business growth is always a high priority for accounting firms, especially small-to-midsize practices. Take care, though, because growth can be a double-edged sword. If your firm expands too quickly or…

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The Job Outlook Is Good for Accountants…But More Competitive

With one major deadline passed and two more coming up next week, some of you might be thinking about your employment options. It’s a common occurrence post-busy season to reflect on the past three-ish months, contact a recruiter and explore your options.

idea of what kinds of jobs might be attracting accountants in the year ahead so we got in touch with recruiter Adam Klitzke, Managing Partner of Emerson Search, LLC in Denver, Colorado.

Adam told us that he thinks that “2010 and…2011 are years where there is a “hot” background or skill set,” as opposed to a hot position (e.g. financial reporting, IFRS, or technical accounting). “[D]uring the previous 3 months, we haven’t seen the same job come up twice, but we have seen clients targeting the same type of candidate.“


So what does a hot “background or skill set” look like? Adam shared four primary characteristics that recruiters are currently looking for:

• 4-7 years of experience, the majority of which has been spent at a Big 4 firm.

• Experience with clients that comply with SEC regulation.

• Has experience supervising staff.

• Has obtained their CPA license.

“These candidates are not having any trouble landing interviews,” Adam told us. He added that in terms of your competition, there are far more bodies jockeying for a position, “in the current market we are seeing 5-10 candidates like this [with the ideal skill set] competing for the same job, whereas 3 years ago, a client would be lucky to see 2 candidates with this background.”

What if you don’t have the ideal skill set? Don’t worry, it’s not hopeless, “a second tier would look like someone with non-Big 4 public accounting experience coupled with industry experience (with a mid to large size public company – $200M+), supervisory experience, and a CPA license or an MBA,” Adam said.

Naturally, if your current background is lacking in these , it will be more difficult for a recruiter to help you land some interviews. Adam told us that while there are jobs out there for people with backgrounds that don’t fit the model above, those candidates typically find jobs without the services of a recruiter. If you’ve got bigger plans for yourself than that, it will be worth your time to pursue some or all of the points above.

The good news for those of you looking to make a move now is that you can expect to do well in terms of salary. As Adam told us, “Salary negotiations will be firm, but fair. Candidates will be able to negotiate an increase in pay and do NOT need to take a pay cut.”

Finally, another development he has seen has to do with the morale, “employee morale seems to be quite low and neither department heads or human resources are doing anything to combat that.” So, if you’re meeting with a recruiter it pays to be honest why your old employer didn’t give make you feel so good about yourself, “clients have asked us for ideas on how to improve morale and we have been able to help them as there are things a company can do other than increase salary to improve [that].”

Bottom line is that whatever your situation, it pays to be honest with recruiters about exactly what you are looking for. If you don’t like what you’re hearing from them, be honest and don’t settle for a position that you’re definitely not interested in pursuing. It may be a more competitive market but if you’ve got a strong background, you’ll have options.

Accounting News Roundup: Japan Adopting International Fair Value; GAO Not Down with PCOAB Risk Standards; Oscar Gift Bags = $91k Income | 03.08.10

Japan embraces new fair value rule [Financial Times via Accountancy Age]
Here’s a novel idea: making a decision on IFRS! Japan’s Financial Services Agency will be allowing companies to adopt the international version of the new fair value rule developed by the IASB, starting Wednesday. Since the world’s second largest economy is opting to pull the trigger on IFRS it may throw the G20’s request/demand for the world to get all kumbaya when it comes to accounting rules.

“Fair value accounting…as unleashed one of the most divisive debates to have emerged from the credit crisis, threatening to disrupt a pledge by the G20 group of leading economies to create a single, global accounting system by mid next year,” reports the FT and judging by the SEC’s indecisiveness, they may be right. With this latest development, now leaders will be able to blame each other’s securities agencies for their particular actions that will likely lead to divergence.


The allowance of Japanese companies to adopt IFRS 9 could also give Knight of the Accounting Roundtable, Sir David Tweedie, even more leverage when dealing with countries around the world to adopt the IFRS.

Right or wrong, the Japanese are sending a signal that they are prepared to move forward while the SEC prepares to have more meetings.

GAO Criticizes PCAOB Approach to Audit Risk [Web CPA]
The General Accountability Office, never shy to point out the faults of others (that’s kind of what they do, after all), isn’t so keen on the PCAOB’s latest “risk assessment” audit standards. This after the PCAOB originally proposed standards in 2008 and then revised and re-released them late last year.

The GAO feels that the ‘duplication and inconsistencies’ created by the PCAOB’s new standards would likely lead to…more billable hours! So, as you might imagine, some firms are on board:

PricewaterhouseCoopers told the PCAOB, “We fully support the board’s objective to update interim standards regarding risk assessment,”

And some, not so much:

McGladrey & Pullen…warned that “unnecessary differences between the board’s standards and those of other standard-setters increase the costs of performing all audits because firms must develop and maintain two, and even three, audit methodologies and training programs, with no corresponding benefit to audit quality.”

Personally, we’re skeptical of anything that has the unmitigated support of the biggest players in the industry but from a more practical standpoint, do auditors really need more rules to follow? And now this could add to the workload? Is that really necessary?

Oscar Swag Bags to Result in $91k Income to Celebrity Presenters [TaxProf Blog]
Celebrities have enough tax trouble the way it is, how is giving them gifts going to make their tax returns easier? We’re guessing most of them have smart CPAs working for them that will suggest that they give it all to charity but we may be underestimating the temptation of free luxury swag.

Søren Hansen Is Another Golfer Who Is a Cheater; But He’s a Tax Cheater

Since golf is a sport (?) that some of you engage in, you’ll be interested to know that Søren Hansen, the Danish linkster, may be going to jail for tax fraud.

He’s not banging everything that moves or shilling for an accounting firm, he just hates taxes. Just like you!

Hansen owes the Danes 9.6 million kroner which is about $1.75 million. That puts him a shade below Nas tax trouble.


Denmark is claiming that Hansen is a resident but he says that he kicks it in Monaco 24/7. Apparently he summers up in the motherland so this thing is a toss-up at best. If he’s found guilty of failing to pay the taxes he could wind up paying a fine of 10 million kroner and “an unspecified prison term”.

We don’t have any idea what a Danish prison would be like although we’re sure it’s rotten.

Fraud police ready to jail golfer [Copenhagen Post]

Stephen Chipman Managed to Not Stop By Going Concern HQ While He Was in New York

This week in Stephen Chipman blog dissection, we learned that SC had another week full of travel, although he managed to resist the temptation to head back to Atlanta for the third straight week. It was typical back-slapping, glad-handing wily CEO shenanigans in Chi-town including a little chat with Assistant Secretary of State for East Asian and Pacific Affairs, Kurt Campbell. “Dr. Campbell recounted a wonderful story of his very first diplomatic event with Secretary Clinton at Blair House — entertaining a senior Chinese delegation.”

Yeah. He leaves you hanging. Our guess is that Hil was telling Bill jokes and/or doing armpit fart noises but it’s all a mystery because Stephen changes the subject entirely. C’mon man! You can’t do that!


Anyway it and then on to DC for a speech IFRS and why it’s on the road to nowhere in the US of A:

I had been invited to be the after-dinner speaker for the National Venture Capital Association (NVCA) Board of Directors meeting. Although I feared the impossible expectation of being a “rousing, after-dinner” speaker on the topic of International Financial Reporting Standards (IFRS), interest was high on the eve of the SEC’s highly anticipated announcement of plans to move forward with their Roadmap for IFRS adoption in the United States.

We’re continually impressed with Steve’s ability to throw in the dry humor, although we suggest dropping the unnecessary quotation marks. Definitely would read more deadpan. If you’re not familiar with the phenomenon of unnecessary quotation marks, you’re probably an abuser.

Moving on…

Chiparoo then trekked up to the City where he talked more about IFRS with the Center of Audit Quality, “The lively conversation focused on the SEC’s announcement regarding further clarification on their Roadmap.” And by that he means everyone there is pissed that the SEC is perfectly happy to drag this thing out.

Post-IFRS chat, SC met up with Ed Nusbaum and they did some MSM hopping, “I met up with Ed Nusbaum and Grant Thornton’s Director of Corporate Communications John Vita for a media tour. Ed is a veteran with the press, but press junkets are relatively new for me. We spoke to reporters at Bloomberg, Fox News, the Wall Street Journal and Thomson Reuters.”

Okay, we’re a little hurt by this. Sure we work remotely but would it have killed you to stop by Steve and leave a note? GCHQ might not have the fancy confines of the WSJ or the ‘Berg but we’d make you guys comfortable as possible. Plus there’s always stimulating conversation. Or just simple call saying “Sorry we couldn’t make it. Next time!” just to get our hopes up.

While we’re still getting over this little slight, we’ll just mention that Steve’s blog, to our knowledge, doesn’t have a name. We’ll take the weekend to mull over this but in the meantime, if you’ve got suggestions, feel free to share.

Five Questions with Accounting Professor David Albrecht

You might know him as Professor Albrecht (at least I still call him that) or you may read The Summa and have no idea who the guy is.

JDA recently forced him to answer some questions to get to the man behind the adamantly anti-IFRS curtain we love so much and discovered he’s proud to be a dissenting voice in the argument over global accounting standards convergence and then some.

First of all, Prof Albrecht is way more old school than just about anyone. He was “blogging” on listservs before there was a such thing as a blog and Caleb and I were still playing 8-bit Super Mario Bros.


Alright, maybe we’d advanced to AOL by the time Professor Albrecht was set loose among hundreds of accounting professors from around the world, the point is he’s been around. The Summa is only about a year and a half old but if you’ve ever read an accounting blog, chances are you’ve seen his work.

Secondly, he’s got opinions and lots of them. Better yet, he enjoys being a teacher; spreading the knowledge both to his own students and the “students” around the world who read The Summa regularly. That means he’d be happy to teach you why he feels the way he does but won’t hold it against you if you feel differently. That’s an admirable quality, and only part of what makes him one of my favorite accounting bloggers.

He also takes interrogation well.

Why do you blog?
I believe that writing something down helps you put your thoughts in order. Writing actually helps me figure out what I think about something. I want to make a difference. Blogging about IFRS is a way of drawing attention to the “other” side of the issue, the one you don’t hear from the large accounting firms or the SEC or the IASB or the EU.

Why should you accountants read your blog?
To find out an accounting professor take on accounting/business/finance issues. I’ve been on an e-mail listserv with hundreds of accounting professors from around the world for 14 years in the thick of many discussions. I take what I learn from these discussions and bring them to The Summa.

If someone had to read just one post of yours which one would it be?
I’ve written dozens of posts on IFRS, and you want just one? Dave Albrecht–IFRS Critic

A good accountant is…
Someone who can tell left from right.

Best Accounting firm program we’ve never heard of…
The Concordia College (Moorhead, MN) accounting major.

Are the Edgy Efforts Really Necessary for Recruiting Accountants?

PwC’s Branding Week taught us nothing we didn’t already know.

So as you may recall, PwC launched its massive PR campaign two weeks ago, wrapped up in super-PR spin in this clip from ABC news:


Even if you sat earnestly with pen in hand, I doubt you had any significant takeaways from the video. “Networking starts with the people you know.” “Students should be aware of what they post online.” “Careers are a marathon, not a spring.” Really? For a moment I thought networking was accomplished by connecting with complete strangers on LinkedIn. Please.

Don’t forget about Deloitte’s push to join the 21st century, albeit it a few years late. Talk of Facebook pages, Twitter feeds, and YouTube channels, oh my! Come ON. Walk into a campus lecture hall of 100 students and you’ll find 97 of them tapping away on their cell phones. Are they tweeting? Hell no. This generation finds Twitter boring. They need more (as in pictures, tagging, communication channels) than Twitter can offer. Blah.

At the core of it all, are these efforts really necessary? The fundamentals of supply and demand will always make accounting majors one of the top recruiting prizes on college campuses. The major consistently has a top-five placement rate after graduation. Both the accounting firms and the private sector will continue to flourish as hiring grounds.

Then why bother? We all know the profession is sugar coated with promises of worldly travel or volunteer release time; the need for the best and brightest is no secret. That is, in itself, the answer.

Anyone can recruit an accountant, but the best and brightest are chased. Hounded. Stalked. All in the name of tweets.

Job of the Day: J.P. Morgan Needs a CFO/Vice President

J.P. Morgan is looking for a CFO to lead its Commercial Credit Card business. This is a product with the Company’s Treasury Services Card Products business unit.

The position is located in the Chicago with an alternate location in New York.

Get more details, after the jump.


Company: J.P. Morgan

Title: CFO Commercial Credit Card – TS Card Products – Vice President

Location: Chicago with an alternate location in New York

Description: Commercial Credit Card is a $300 million revenue product organization within the Treasury Services (TS) Card Products business unit ($700 million revenue). The CFO of Commercial Card reports directly to the CFO of TS Card Products.

Responsibilities: Work closely with the TS Card Products CFO as a critical member of the finance lead team; Partner with the Commercial Card Product management team to manage the product P&L and create transparency into business performanceEvaluate financial results and ensure they are communicated and understood and that the appropriate actions are identified and prioritized; develop and maintain key performance measures for revenue and expense; Development of annual business plan (revenue, expense, capital and project profile); Forecast, Analysis and Reporting of ongoing monthly results including Revenue, Headcount, Direct Expense and Indirect Expense (allocations); Work closely with Controllers team to manage month end close process; Lead meetings with product and operations partners to discuss product revenues, expense plans, and current issuesHelp maintain product pricing model; Develop, evolve, and automate processes to create reporting efficiencies

See the entire description over at the GC Career Center and visit the main page for all your job search needs.

Give It Up Tax Protesters, You’re Just Screwing Yourselves

Of the adherents of strange and puzzling belief systems – 9/11 Truthers, Fed groupies, Cubs fans – few work so hard to screw themselves as tax protesters.

By their own account, twww.rothcpa.com/archives/000480.php”>spend “thousands of hours” reading their arcane tracts, expanding on theories of why the 16th Amendment is a figment of our imagination, or why a gold-fringed flag means you’re in an admiralty court, which somehow undoes the income tax.


Or why the federal tax law only covers the District of Columbia and federal forts, or why Section 861 says U.S. source income isn’t taxable. The result? They still owe the taxes, penalties, and maybe $25,000 idiot fees from the tax court – and that’s if things go well. If they go badly, they go very badly.

Every year the IRS updates its handy debunking of tax protester arguments. It does little good. You can spend hours trying to talk tax protesters out of their ideas, but they move effortlessly from one gold-fringed bad idea to another, and they can almost sound like they make sense, until you get outside and get some fresh air. But there is one common problem in all of these “Tax Honesty” arguments: they don’t work.

No matter how convinced you are that Irwin Schiff’s theories of the income tax are true, that there is no income tax, all of the federal judges think there is one. So does the IRS, the Federal Marshals Service, and pretty much everyone in the Bureau of Prisons. What they say trumps what Irwin says, which is why the poor man is likely to die in jail.

But what about the glorious courtroom triumphs of Lloyd Long, Vernice Kuglin and Tom Cryer? They were acquitted by juries! Yes, these guys beat criminal charges. Why the juries voted the way they did, we’ll never really know. Maybe they were nullifiers, striking a blow against the income tax. Maybe they decided that the defendants really believed their schtick, so they didn’t “willfully” fail to pay their taxes. But these acquittals debunk the income tax only if the O.J. acquittal debunks California’s murder statute. Even though these guys didn’t go to jail (unlike many, including their pied piper, Irwin Schiff), they still have to pay their taxes.

Maybe you’re reading this and thinking “Of course he says that. He does taxes for a living. He’s in on the conspiracy!” If so, come on. If this stuff actually worked, I wouldn’t grind my way through every tax season pretending there is an income tax. If it worked, I would just talk to a few of my wealthiest clients, work out a deal to take 5% of their income for the next 10 years in return for making their taxes go away, wave my wand, and spend March in Mesa.

But here I am, grinding out those returns. That no more makes me “pro-tax” than believing in germ theory makes a doctor “pro-bacteria.” Still, if you really want to ruin your financial life, you’re welcome to choose your poison. But first ask yourself: are all of these big companies and rich guys who pay taxes crazy or stupid? Or is it just you?

Caring for A Sick Parent Is Not an Excuse for Filing a Tax Return Late, Especially if You’re a Tax Attorney

SO! We’ve been feeling sorry for the IRS lately because well, people HATE the Service. It’s cases like these that might, just might, cause some people to flip their lid.

Kevin Kilduff, one of the “most highly regarded” tax attorneys in Boston was suspended from practicing before the IRS for 48 months by Treasury Secretary’s Appellate Authority after he appealed an administrative law judge’s (“ALJ”) decision to suspend him for just 24 months. The complaint was filed by the Office of Professional Responsibility who oversees CPAs, EAs and attorneys who practice before the Service

From the decision of the ALJ, “The Complaint alleges Respondent failed to timely file Federal tax returns for the tax years 2000, 2002, 2003, 2004 and 2005, and failed to file a tax return for tax year 2002.”


Considering the fact that Mr Kilduff used to work at the IRS and since leaving has represented many clients before the Service, so you would expect he would have a good story.

Annnnnnd he did . Two-fold: 1) “[The] matter was instituted as a personal vendetta against him by Revenue Officer 1 because of his “zealous” representation of a client in dealing with Revenue Officer 1, the IRS agent in the case.” and 2) “his mother was diagnosed with Illness 1 and he quit his job in Philadelphia and moved to Boston and moved in with his parents to care for his mother, and remained with them for the next five years. During this period, he and his sister cared for their parents, cooking and taking them to doctor appointments”

Judge Joel Biblowitz, was sympathetic to Mr Kilduff’s situation (re: sick Mom) but was impressed with his attitude (emphasis original):

Throughout the course of this matter, I was struck by the Respondent’s apparent disinterest in, or lack of respect for, this proceeding…In his response, the Respondent stated: “I am happy to provide your office with copies of these tax returns if it is necessary,” although he did not do so. It appears to me that if he truly took the IRS’ complaint seriously, he would have responded immediately after receiving Whitlock’s October 11, 2006 letter and would have sent him a copy of his 2002 Federal tax return, rather than waiting almost four months before responding and offering to provide the return.

Mr Kilduff also didn’t respond to the Judge Biblowitz’s order to notify the OPR of his witnesses and exhibits in his case. Just plain ignored it. If we know anything about judges, it’s that you don’t ignore them.

I find that neither defense has merit. While I can sympathize with the Respondent and his obligations and sacrifices during this period, the record establishes that during the period encompassing tax years 2000 through 2005 he was employed full time for a major laws firm with yearly adjusted gross income ranging from $102,000 to $138,000. Further, while he had obligations caring for his parents during this period, it is difficult to imagine that he could not find the time to prepare and timely file these returns.

IRS Wins 48-Month Suspension of a Lawyer for Failing to File His Own Tax Return and Late Filing [IRS.gov]
Also see:
IRS Suspends One of Boston’s ‘Most Highly Regarded’ Tax Lawyers for 48 Months for Failing to File Tax Returns [TaxProf Blog]
Tax Attorney Suspended from Practicing Before IRS [Web CPA]

Four Ways to Force Yourself to Study for the CPA Exam

I’ll save you the hoo-rah, I’m pretty sure you don’t need it. It’s March already; if you aren’t studying, you’re working, and if you’re doing both right now I worry about your decision-making capabilities. Oh well.

Masochistic or not, it isn’t always easy to get yourself motivated to study.

You have entire CPA exam strategies laid out on the CPAnet forums here, here, and look, you even have a hoo-rah. Not everyone is an Elijah Watt-Sells so get that out of your head and worry about what works for you.


That strategy – finding a perfect fit for your own needs as a CPA exam candidate – also goes for motivation.

So how do you force yourself to study? Here are a few ideas:

Bribe yourself – Sock away $xxx for a new toy and reward a passing score with whatever your bribe is. If you’re cheap/laid off/sinking $1000s into failed exam fees and broke, it could be a decent dinner or a movie. Define splurge for yourself and make that the carrot you dangle in front of your face to get you to study.

Commiserate – You can find plenty of miserable accountants taking (and not always succeeding at) the CPA exam. You can also find support and encouragement if you’re actually trying to pass, so use resources like CPAnet and Twitter to find other candidates to speak to. If you’re taking a live review, sign up with someone else from your firm and go to class together. It helps to have someone else keeping you in check.

Visualize your goal – This might be the most, um, cheesy of methods but it absolutely works. Write CPA after your name on business cards and put them up where you will see them frequently (but don’t hand them out, that’d be illegal); though this tactic isn’t meant as a substitute for actually preparing (sorry to break it to you), a little positive thinking takes the anxious edge off.

Plan – Sometimes knowing there is a clearly defined schedule takes some of the panic out of the CPA exam, and if you’re disciplined enough, you won’t need motivation. Sure, it’s robotic, but that’s what studying for the CPA exam is. The exam doesn’t ask you to think critically outside of the parameters of financial reporting and accounting, nor do you get bonus points for creativity. So maybe you just need to have a plan, stick to it, suck it up, and move on until you’re done. It’s the most miserable of the options but sometimes all that works.

So? What worked for you?

Accounting News Roundup: Alaska Union Criticizes Lost Data Deal with PwC; Levin Appointed to Ways & Means Chair; E&Y Received £35m in Audit Fees from BP | 03.05.10

First things first: Don’t forget that it’s National Employee Appreciation Day 2010. [GC]

Public employees union criticizes data loss deal [AP via CNBC]
Remember how PricewaterhouseCoopers lost the records of 77,000 Alaska public employees and retirees? PwC, trying to be a standup corporate citizen, took responsibility for the slip-up and promised those affected all kinds of stuff including identity theft protection, credit moty freezes. Hell, they said they would even reimburse any losses that occurred due to identity theft.

Shockingly, that wasn’t good enough for some people. The Alaska State Employees Association is pretty bent out of shape about the deal the state took and wants them to go back and get more. MORE. MORE!

Specifically, it wants the affected people to be automatically enrolled into the firm’s credit protection services, instead of being required to opt-in. The union also questioned why those services will only be available for a minimum of two years, though consequences of the data loss may pop up long after the services expire.

“We think that’s shortsighted to put a two-year period on it,” said union business manager Jim Duncan. “It doesn’t adequately protect our members or retirees.”

Alaska’s Department of Law is perfectly okay with the deal and if they could have gotten P. Dubs to give everyone lifetime guarantees, by God, they would have. But it wasn’t in the cards, “[Assistant attorney general Ed Sniffen] characterized it as a generous settlement that the Department of Law is pleased with. And unless new information indicates the parties weren’t negotiating in good faith, renegotiation is unlikely.”

Besides, if an employee becomes an identity theft victim, they can still sue PwC for damages. And that’s really what this country is all about; the ability to blame someone else and sue their ass.

Levin To Chair Tax-Writing Ways And Means Panel [AP via NPR]
Representative Sander M. Levin (D-MI) will serve as the new Chair of the House Ways & Means Committee after Charlie Rangel gave up the Chairmanship under pressure for ethics violations.

Mr Levin represents the 12th district in Michigan and has served in Congress since 1982 and is the older brother of Senator Carl Levin (D-MI).

Levin takes the gavel after House Speaker Nancy Pelosi initially appointed Pete Stark of California. It’s entirely possible that Speaker Pelosi realized that Mr Stark might not be the most diplomatic member of the House; he has a history of just saying whatever comes to mind like:

• Calling Rep. Nancy Johnson (R-CT) a “whore for the insurance industry.”

• Arguing with Rep. Scott McInnis (R-CO): “You think you are big enough to make me, you little wimp. Come over here and make me, I dare you. You little fruitcake.”

• That former President George W. Bush was amused by soldiers getting their heads blown off in Iraq.

Among other things.

BP pays E&Y £54m in fees [Accountancy Age]
Now before you start screaming about the money, you should know that the fees are actually down significantly from the last two years. In ’08 E&Y got £67m and £75m in ’07. Beyond Petroleum says they’re doing things more efficiently in the ‘audit process’ and reducing tax and other services. See? Tough times all around.