2020 delivered much sorrow and absurdity but also brought us catchy new phrases. “Follow the […]
So Young CPA Network shared this Business Insider post on Twitter earlier today, where "Accountant" […]
The IRS’s naggy watchdog, the Treasury Insepector General of Tax Administration, has released a new audit that found the Service doesn’t follow up on math errors quickly enough and that they should start picking up their game, especially in the case of taxpayers who are trying to utilize the Earned Income Tax Credit. The IRS, who is normally looking to do things better, did not appreciate the sentiment:
[T]he IRS was cool to the report’s recommendations, asserting that it has limited resources and noting that it usually sends interim letters to taxpayers if their cases will not be handled within 30 days. The agency’s Richard Byrd also noted that the IRS receives some 20 million paper letters each year. “While important, replies to math errors represent a small fraction of our overall inventory,” Byrd wrote.
Seriously. They’ve got an over-eager AICPA to deal with.
[via OTM/The Hill]
Henry Blodget crucifies Demand Media today for their accounting treatment for the cost of their “army of freelance writers” as the company attempts to go public.
But before we get to that, first a little quick and dirty for those of you that don’t surf the web all day (like some people we know). Demand Media runs “content farms” like eHow, Livestrong.com and Cracked. To put it simply, the idea is that aggregating freelancers in this fashion is much more efficient “