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Student News
Beta Alpha Psi student and faculty volunteers clean up San Jose Guadalupe River
More than 900 members of Beta Alpha Psi (BAP), the professional honors organization for financial information students and professionals, supported by 50 employees from KPMG LLP, the audit, tax and advisory firm, descended on the Guadalupe River trail last month to undertake a massive clean-up effort, sponsored by KPMG and the KPMG Foundation. read more
2010 AccountingWEB accounting student scholarship winners announced
AccountingWEB is pleased to announce that three winners have been chosen as the 2010 AccountingWEB Accounting Student Scholarship winners. Entrants were required to write a 500-word essay on the topic of "The Role of Accountants in Social Media." Essays were judged in a variety of areas including creativity, innovation, quality of writing, structure, logic, and sources/research. All three essays will appear on AccountingWEB.com later this month. This year's winners are: read more
AICPA contracts NACVA to develop course for CPA forensic credential exam
The American Institute of Certified Public Accountants has engaged the National Association of Certified Valuation Analysts to develop a course to help CPAs prepare for the qualifying exam for the Certified in Financial Forensics (CFF) credential. read more
Don't drink and tweet: Illinois CPA Society president speaks at nation's largest state CPA conference
Last week's Midwest Accounting and Finance Showcase in Rosemont, IL, outside of Chicago, kicked off with approximately 1,700 CPAs in attendance, a group so large that it was clear the need for knowledge and networking is still alive. The annual event, sponsored by the Illinois CPA Society (ICPAS), celebrated its 30th year. read more
Golden Gate University’s forensic accounting certificate offered online
Golden Gate University (GGU) recently announced it will offer its Forensic Accounting Certificate completely online starting with the fall semester 2010. The move to bring forensic accounting courses completely online will broaden access worldwide and allow students who typically lead busy lives and demanding work schedules flexibility for completing the program on their own time, according to the university. Students local to the San Francisco Bay Area still will have the option to attend class in person as well as online. read more
Hot Topics
Convictions upheld, fine reduced in KPMG tax shelter case
A $6 million fine levied against former KPMG LLP senior manager John Larson for selling illegal tax shelters was reduced by half last week by a U.S. appeals court. read more
2010 AccountingWEB accounting student scholarship winners announced
AccountingWEB is pleased to announce that three winners have been chosen as the 2010 AccountingWEB Accounting Student Scholarship winners. Entrants were required to write a 500-word essay on the topic of "The Role of Accountants in Social Media." Essays were judged in a variety of areas including creativity, innovation, quality of writing, structure, logic, and sources/research. All three essays will appear on AccountingWEB.com later this month. This year's winners are: read more
IRS expected to drop UBS lawsuit
Officials with the Internal Revenue Service last week said that the agency would drop its civil lawsuit against UBS following assurances from the Swiss government that is was in the process of delivering information on thousands of American clients suspected of using UBS accounts to evade U.S. taxes. read more
Pigs might not fly, but for Somerset CPAs, they can drive a racecar
Indianapolis is known as "The Racing Capital of the World," and it just so happens there are employees at Indianapolis-based Somerset CPAs P.C. who follow auto racing. So it’s no surprise that the firm created and entered a racecar-themed structure for the CANstruction event at the Indiana State Fair in August. The result: a victory in the Best Meal category. Jason Bramwell reports. read more
Company announcements: Week of August 30
Following is the latest roundup of firm news for the week of August 30, 2010. Abalos & Associates, PLLC, recently announced that Liam Shaw has joined the firm as a senior associate. In this position, Shaw will be responsible for tax planning and preparation, financial statement preparation, and client consulting. read more
Celebrity News
Supermodel Naomi Campbell making headlines again
Supermodel Naomi Campbell cannot keep her name out of the headlines – mostly for reasons that are far from enviable. The latest news is that she owes the Internal Revenue Service $63,487 according to a lien filed in July with the New York City Register’s Office. read more
Khloe Kardashian, Wyclef Jean, Lena Olin share tax authorities' spotlight
Khloe Kardashian is a star in Hollywood, but with tax authorities…not so much. On July 28th the California Franchise Tax Board filed a tax lien against Kardashian in the amount of nearly $18,500 relating to income from 2007. read more
Rapper's home raided at gunpoint by IRS agents
Sadly, we've grown accustomed to stories about entertainers who, for one reason or another, do not pay their taxes. Still... it isn't often that the Internal Revenue Service greets them with shotguns drawn. But that's what happened to rapper Young Buck - real name David Darnell Brown - on August 3rd, as the IRS attempted to satisfy a tax debt of roughly $300,000. Hiphoppress.com reported that the guns were there to warn Brown against interfering with the agents as they proceeded to seize his assets. read more
Chris Tucker, Rob Lowe do battle with taxman
Right about now, Rush Hour star Chris Tucker might be feeling a bit of a squeeze in the form of a federal tax bill for nearly $12 million. And, chances are, he’s still reeling from last year’s pinch from Arnold Schwarzenegger, which seems small in comparison. read more
Three famous tax cheaters take issue with the authorities
AccountingWEB appears to be developing a rogues gallery of taxation ne'er-do-wells as the same celebrities continue to make headlines. Wesley Snipes, Conrad Black, Lil Wayne, and Suge Knight are, once again, in the news. read more
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