IRS Defanged by 20 Years of Budget Cuts

IRS Criminal Prosecutions Over The Past 20 Years / TRAC

Prosecutions down 16 percent in 2014.

Budget cuts are clearly undermining  the nation’s ability to collect tax revenue and enforce tax laws, widening already gaping budget holes, CPA Trendlines data show.

For instance, tax prosecutions, which peaked during the early Clinton administration, bottomed during the Bush administration. READ MORE →

Retirement Plan Funding? What Funding?

Young businessman clipping hedge into dollar signWeighing 2 pros… and 6 cons.

By Marc Rosenberg
Retirements & Buyouts

Ninety-nine percent of all CPA firms’ retirement benefits are unfunded. (This excludes the many instances where firms carry life insurance on partners because it only covers retirement in the case of death).

MORE ON RETIREMENT: Vesting Can Cover Part-Timers, Too | Retirement Vesting: The Devil’s In the Details | Compromise Is In Order for Some Goodwill Payouts | If Clients Leave, Do You Reduce Retirement Benefits? | Why You’ll Get Less from Your Partners in a Buyout than You Might by Selling the Whole Firm | The Multiple of Compensation Method, Fully Explained | Clients Leaving? Time to Reduce Retirement Benefits | How to Set Terms and Limits for Goodwill Payouts | 4 Ways to Decide How to Pay Out Capital | Partners May Balk at Guaranteeing Retirement Obligations

There are two types of funding:

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