Blog posts from: 2017
IRS will not accept returns without health coverage for 2018 filing season
The IRS recently announced that it will not accept electronically filed tax returns where the taxpayer does not address the health coverage requirements of the Affordable Care Act for the upcoming 2018 filing season. The return must indicate whether the...
Monitoring fraud risks in the supply chain
Nearly one-third of about 2,600 supply chain professionals said their companies experienced supply chain fraud, waste or abuse the previous year, but only 40% had a program in place to detect or prevent these issues. Companies can probe one of...
District Court denies IRS maximum FBAR penalty
Arthur Bedrosian, chief executive officer of Lannett Company, Inc. (LCI), has prevailed in his lawsuit with the IRS. Bedrosian filed a lawsuit against the IRS, after the IRS claimed Bedrosian failed to properly and timely report a foreign bank account,...
IRS issues proposed regulations for TTINs on Forms W-2
In an effort to reduce identity theft, the IRS has issued proposed regulations that would permit employers to use truncated taxpayer identification numbers (TTINs) on Forms W-2, Wage and Tax Statement, issued to employees (REG-105004-16). Permissible TTINs are Social Security...
Shared services benefits for CPAs
Client needs have become increasingly complex over the years and with this comes new opportunities for accounting firms to evaluate how they might increase the services they are able to offer clients without adding overhead or resources in-house. A solution...
IRS tax relief for those affected by recent hurricanes
The IRS is providing relief to those affected by the recent hurricanes. Here's a summary on how. How is the IRS providing relief to those affected by Hurricane Irma and Harvey? If an individual or business was affected and had...
Equifax Security Breach: Have you been affected?
As most of us know, Equifax recently identified a cybersecurity incident potentially impacting 143 million U.S. consumers. To determine if you've been impacted, please visit https://www.equifaxsecurity2017.com/potential-impact/. If your information has been compromised, you can enroll in a credit monitoring and...
Back to school means giving back at ShindelRock
The ShindelRock staff came together to make sure 33 4th graders at Munger Elementary – Middle School in Detroit were ready for their big day today! Each student received a everything they might need to start the year off right,...
Fraud controls may be lacking at smaller organizations
Organizations with fewer than 100 employees significantly trail their larger counterparts in the implementation of formal antifraud controls, according to a worldwide survey by the Association of Certified Fraud Examiners (ACFE). The industries most commonly victimized by fraud are banking...
Are your business assets vulnerable to theft?
The United States Trustee ("UST") encourages every chapter 11 small business owner to think about whether assets essential to the business are protected against theft or fraud. The potential for employee dishonestly, the most common type of business theft, increases...