“Independence may not be the cornerstone of audit. AICPA is looking into reliability as being the standard, particularly for small and private businesses.” Click here to read the rest of Roman Kepczyk’s dispatch from Day 1 of the Management Summit.
It’s not just tax season. ‘Tis the season for the IRS to make it’s scariest warnings. And why not? It’s when everyone’s paying attention.
Today the IRS says…
Enforcement efforts increased again in fiscal year 2007. For instance, during 2007 the IRS audited 84 percent more returns of individuals with incomes of $1 million or more than during 2006. Overall, enforcement revenue reached $59.2 billion, up from $48.7 billion in 2006 and nearly $34.1 billion in 2002.
Highlights of the enforcement and services numbers for fiscal year 2007, which ended on September 30, include:
The Treasury Department and the Internal Revenue Service have announced the selection of 41 new members to serve on the nationwide Taxpayer Advocacy Panel (TAP), a federal advisory committee charged with providing direct taxpayer input to the Internal Revenue Service. … Continued