Explore the latest shifts in U.S. accounting standards led by FASB, focusing on revenue recognition and lease accounting. Learn what these changes mean for businesses.
Read more...
Explore how accounting firms are embracing remote solutions, leveraging cloud technology, and enhancing client trust in the evolving digital landscape.
Read more...
Discover how accounting firms are navigating the AI-driven landscape, leveraging cutting-edge technology to enhance efficiencies in auditing and bookkeeping.
Read more...
Explore how the shift toward digital commerce impacts sales tax compliance and the strategies businesses use to navigate these evolving regulations.
Read more...
Explore how leadership dynamics in accounting firms are changing due to technology and diversity trends, with insights into modern strategies and tools shaping the industry's future.
Read more...
How AI Is Reshaping Payroll: What Every Business Needs to Know The 2025 Payroll Special Report explores how artificial intelligence is revolutionizing payroll—transforming it from a back-office function into a strategic powerhouse. Discover how AI is enabling greater efficiency, accuracy, and compliance while unlocking real-time insights and cost-saving automation. With insights from industry leaders at ADP, Paychex, KPMG, and more,…
The Internal Revenue Service his disbarred a Seattle, Wash.-area Enrolled Agent for stealing a client's tax payments and preparing returns with phony deductions for several clients. The Office of Professional Responsibility revoked the EA status of Lorna M. Walker and barred her from preparing federal tax returns for at least five years in a default judgment.
According to the IRS, a client gave Walker two money orders totaling $1,500 to forward to the IRS along with an offer in compromise for delinquent taxes. Instead, Walker added the words "or Lorna Walker" to the payee line and then endorsed and cash the money orders and deposited them into her account.
An administrative law judge also found that Walker filed 1040s for seven claims claiming Schedule C deductions that were unsubstantiated and unsupportable for 2007 and 2008.
The default judgment was entered after walker failed to respond to the administrative complaint and the motion for default judgment. While Walker sent a letter dated September 12 in which he said the client had received his money, the judge held that she failed to admit or deny the allegations and failed to sign it and state that the statements in it were true. She did not respond to additional correspondence.
The