Alert: Does BOI Reporting Apply to Your Business?
This is a reminder that your business may be required to comply with new beneficial ownership information (BOI) reporting rules that took effect in 2024. Who needs to be aware […]
Category: Audit & Advisory
Thinking Ahead to Your Next Form 990
The deadline for most not-for-profits to file Form 990 with the IRS (May 15, 2024) has come and gone. Assuming your organization operates on a calendar-year tax basis and filed […]
Nonprofits: Act Thoroughly on Audit Findings
External audits can help assure your not-for-profit’s stakeholders that your financial statements are fairly presented according to U.S. Generally Accepted Accounting Principles. They can also help prevent occupational fraud. Often, […]
What To Do If Your Business Is Defrauded
Occupational fraud is more than just a financial hazard. It can transform a company’s reputation, culture, and relationships. However, before dealing with any of the deeper repercussions from fraud, exposed organizations must “clean […]
Why Would Your Businesses Want “Know Your Customer” Policies?
Financial institutions, investment service companies, insurers, and creditors are generally required to implement and adhere to know-your-customer (KYC) policies as part of a larger anti-money laundering (AML) strategy. Although most […]
IRS Dirty Dozen Part 4 – Spearphishing and Schemes Aimed at High-Income Tax Filers
In this article, we present two more scams from the IRS’ 2024 Dirty Dozen list: spearphishing and schemes aimed at high-income tax filers. Read on so you don’t fall victim […]
How Fraud Perpetrators Conceal Their Illicit Activities
Employees who commit fraud typically strive to keep the schemes running as long as possible by concealing their activity from others. The success of thieves is largely determined by their […]
IRS Dirty Dozen Part 3 – Fake Charities, Deceitful Tax Professionals, and Social Media
Today, we continue bringing you the scams highlighted by IRS’s 2024 Dirty Dozen campaign, an annual list compiled by the IRS listing the most common tax schemes and providing taxpayers […]
IRS Dirty Dozen Part 2 – Fake Online Account Assistance, False Fuel Tax Credit Claims, and Offer in Compromise Mills
Last week, we introduced you to the IRS’s 2024 Dirty Dozen campaign, an annual list compiling the most common tax schemes. The campaign provides taxpayers with important information about how […]
IRS Dirty Dozen Part 1 – 2024 Campaign Kicks Off With Warnings About Phishing, Smishing, and ERC Scams
For over two decades, the IRS has issued the “Dirty Dozen,” an annual list of common tax scams and abusive tax avoidance arrangements that expose taxpayers to the risk of losing personal information, data, […]
Segmented Income Statements Can Help Enhance Manufacturers’ Profitability
Most manufacturers publish company-wide income statements. But have you explored delving further into your data using a segmented income statement? If properly developed, a segmented version of this report could […]
Manufacturers: Don’t Turn a Blind Eye to Occupational Fraud
Occupational fraud, or employee fraud, is a serious issue for all firms. According to the Association of Certified Fraud Examiners (ACFE), firms lose 5% of their revenue to fraud each […]
