Sentences with phrase «tax audits which»

Conducted tax audits which included the examination of financial statements, general ledgers, journals, accounts receivables and payables and other records.

Not exact matches

Promotional documents for syndicated deals always acknowledge the risk of an IRS audit, which can result in an assessment for back taxes, interest, and stiff penalties.

We decided to get an FHA loan, which required an income audit on top of turning in our tax returns, to get approved for the best possible mortgage rate.

Whether it saves money this year or not is less important than avoiding consequences from having your finances entangled in a tax return which might not hold up to the scrutiny of an audit.

The P2P lending platform has published its audited accounts for 2016, which also showed that profits before tax increased to # 3.3 m, compared with the # 53,000 reported in 2015.

Mormonism is the only religion of which I'm aware that literally requires member to go before a bishop in order to give an annual accounting of their ti / thes — like getting audited by God's tax - man.

Trump reiterated that he has no plans to release his tax returns until an audit is completed — which may not be finished until after the November elections.

The major drive to locate areas where the government could achieve cash savings, which have been independently audited, managed to save about the same revenue as that from 1p of income tax.

· Allowing counties an option to modify how they fund state mandated pension contributions · Providing counties more audit authority in the special education preschool program · Improving government efficiency and streamlining state and local legislative operations by removing the need for counties to pursue home rule legislative requests every two years with the state legislature in order to extend current local sales tax authority · Reducing administrative and reporting requirements for counties under Article 6 public health programs · Reforming the Workers Compensation system · Renewing Binding Arbitration, which is scheduled to sunset in June 2013, with a new definition of «ability to pay» for municipalities under fiscal distress, making it subject to the property tax cap (does not apply to NYC) where «ability to pay» will be defined as no more than 2 percent growth in the contract.

The investigation of the companies and the payment of the withholding tax were part of the recommendations made by the Presidential Committee on Audit of Defence Equipment in the Nigerian Armed Forces in its report, a copy of which was obtained by The PUNCH on Thursday.

In 2010, Comptroller DiNapoli announced that his office would conduct a forensic audit of overtime practices at the MTA, an authority which takes over $ 120 million in taxes directly from Rocklanders annually, while providing less than $ 60 million worth of service.

DiNapoli's office has issued a series of critical audits and reports questioning Cuomo's handling of the START - UP NY program, which provides a decade of tax - free operations in New York for companies that move to the state and create jobs.

The IDA likely will conduct audits on 15 percent to 20 percent of the companies that receive tax breaks in a given year, which typically would result in three to four audits annually, Poloncarz said.

The audit, released on Thursday, said that the city, after failing to account for a $ 1.3 million deficit, passed an unbalanced budget in 2010 that created a new $ 6 million cash deficit which was closed the following year with a 41 percent tax levy increase.

State Comptroller Thomas DiNapoli's office released an audit of the City of Newburgh's financial oversight that said officials failed to accurately track the city's budget which led to millions of dollars in shortfalls and a higher than necessary tax hike for its residents.

A 2009 audit report revealed that up to 60 billion Cedis of the tax payer's money taken from the TOR debt recovery levy, the HIPC etc. was used to fund a so called communication strategy which was only a euphemism for a conduit used to siphon state funds into the NPP campaign.

The state comptroller's office has notified the city's Industrial Development Agency of an impending audit, which is to include a review of a property tax break for the downtown Hilton Albany hotel.

And an audit found fault with some of the handling of the Excelsior Jobs program, which offers tax breaks to eligible companies.

Commisso reiterated his plan to audit all tax exemptions given to properties in Albany, which would include SUNY Poly, but also exemptions given to taxable developers, and he said the city would still need to continue to seek its fair share in state aid, which he would «be in a better position» to do.

The audit reported the many successes of the land bank, which acquires tax delinquent properties and has resold 188 properties thus far.

DiNapoli's audits fueled a legislative hearing last week during which members of the state Assembly — from both parties — attacked the Start - Up NY program of tax - free zones.

ALBANY — The state comptroller's office has notified the city's Industrial Development Agency of an impending audit, which is to include a review of a property tax break for the downtown Hilton Albany hotel.

Hannah Catchpool is a partner at audit, tax and consulting firm RSM, which specialises in academy trusts.

This minimizes chances of an audit and subsequent tax lien, which might affect your ability to repay the lender.

First the «profit distribution» issue with Bob's S - Corp which is in fact tax evasion and will probably trigger a very nasty audit.

Your business will be required to submit its Tax ID number to the issuer of choice, after which an audit of your company's financials will be preformed - specifically the company's business credit score.

This is mainly due to our innate fear of being audited or summoned by the Internal Revenue Service for failure to pay taxes, which ironically, is exactly what... Read more»

An unfavorable audit will likely result in some portion of the distributions being reclassified as earned income for federal income tax purposes, which results in a deficiency assessment (i.e., a tax bill), interest on those unpaid taxes, and IRS penalties.

KPMG LLP, the US audit, tax and advisory firm, has issued a new survey report on the international Common Reporting Standard (CRS), which reveals that financial institutions impacted by the regulations still have much work to do to meet with the initiative's significant compliance challenges.

Indeed, closing a Patent Box Ruling may well be harder than an APA, because whilst the subject of the latter is «just» the suspension of any TP audit — provided, of course, that the applicant respects the content of the agreement — for its whole duration, a Patent Box Ruling allows for getting tax credits which could be immediately offset against any other tax liability or asked for reimbursement.

They conduct residency audits because residents are subject to tax on worldwide income, whereas non-residents are only taxed for the portions of their income which can be attributed to New York.

You should consider whether the tax savings is worth the time and administrative costs of dealing with an audit, which brings us to the next issue.

GGI unites a group of international, independent audit, accounting, law and consulting firms with the joint potential to find the right solution for any specific problem and so resolve any financial, legal and tax issues which may arise.

«Deloitte» is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management, tax, and related services to select clients.

Second, the tax code is permeated with opportunities to violate the law, taking deductions mistakenly that you are not entitled to, not reporting types of income as required, and not having the paperwork to back up one's return, which is necessary if one is called into an audit.

The Internal Revenue Service may scale back a controversial audit of bitcoin users, which several Republican congressmen called «overly broad, extremely burdensome, and highly intrusive» in a stern letter to the tax authority.

She also has a penchant for «real world compliance» tools like monero's view key, which helps regulated organizations such as nonprofits accept anonymous transactions while still permitting selective transparency options for tax audits.

delivered to Coinbase by the IRS shows that KYC is the attack vector of choice for the U.S., which could result in billions in taxes reported by people who fear that their Bitcoin activity can be audited.

Public accountants have to perform broad range of accounting activities which involve tax, audit accounting, and consulting activities.

• Reorganized budgeting and expenses processing systems by overhauling both procedures and introducing efficient modules • Implemented an automated VAT returns systems which decreased tax return inefficiency by 50 % • Introduced a dynamic, online income and sales systems which increased ease of calculations as opposed to the regular standalone one • Reconciled a lengthy income report, spanning 15 years within the record time of 3 days • Identified a discrepancy in the profit and loss account, saving the company $ 15000 in income unaccounted for • Introduced the concept of «suspense accounts», effectively ensuring compliance with standards accounting principles • Singlehandedly managed petty cash disbursement and bookkeeping for 5 departments across 15 offices, 3 of which were in countries outside the US • Audited an entire paper bookkeeping system within 15 days, well within the deadline of 25 days • Converted the paper accounting system into electronic, resulting in increased efficiency at 88 % • Led a series of training sessions to provide a solid accounting background to trainees and accounting interns • Suggested incorporation of client - related accounting information into the main client database, making it easy to follow up on defaulted clients • Acquired 85 % of all outstanding debits within 5 months, following dedicated follow - up procedures

With a complicated enough financial situation, 10 tax accountants will likely have 10 different returns, because not only is one variable how they interpret the code but also how you decide to interpret it, there will be multiple situations where the accountant will advise you on the possibilities of getting an audit, ask you how much risk tolerance you have for the different interpretations of different situations and how likely you would be to pass or fail an audit and warnings that if you fail it you will not only owe the difference in taxes but likely the penalties and interests accrued which could be over multiple years if the return gets pulled years later.