While no one else was paying attention, McGladrey quietly gobbled up a Cincinnati accounting firm, completely dominating the middle market for the fine state of Ohio. First Ohio; next, the world. According to Cincinnati Business Courier: Battelle Rippe Kingston has reached a definitive agreement with Chicago-based McGladrey LLP in which McGladrey will acquire "substantially all […]
Do you guys remember the sordid tale of one Christopher M. Green, formerly employed by Crowe Horwath in Columbus, OH? No? Allow me to refresh your memory (I can totally understand why you may have blocked it out): Green is accused of exposing and touching himself in front of a 17-year-old girl Monday morning. According […]
Amer Ahmad resigned as Chicago's comptroller about three weeks ago, but yesterday is when we found out just how qualified he really was for his job: On Thursday, Ahmad was indicted in Ohio on federal corruption charges in what prosecutors described as a more than $500,000 kickback scheme involving state investment business while he […]
For God's sake, get a good education.
It's not just Ohio CPAs, mind you. NosireeBOB. It's primarily Chambers of Commerce from around the country but also the Asian American Hotel Owners Association, the National Beer Wholesalers Association, the Snack Food Association, Turfgrass Producers International, and a host of others asking "Congress and the president to immediately enact legislation that averts America’s impending fiscal cliff." Christ […]
Ginny Hopkins has waited tables at Johnny's Downtown in Cleveland for 20 years. In that amount of time, it's safe to say, Ginny has wished that a bag of money would fall off an armored truck, landing right at her feet or maybe some other financial miracle that would take her far away from the […]
This is from the November issue of the Ohio Society of CPAs' CPA Voice: OSCPA submitted a comment letter to IRS Commissioner Doug Shulman and Director of the IRS Return Preparer Office David R. Williams, regarding fingerprinting of certain non-signing PTIN applicants. Written on behalf of OSCPA’s more than 22,000 members, the letter commended the […]
Maybe we shouldn’t publish this, lest TPTB catch on and close this loophole but as it’s soon to be CPA exam score release season, we figured it might be helpful to share this little trick to get your score early.
Note, word is it only works if you are on your last section and testing in a NASBA state. It doesn’t work all the time and will really only give you your score a day or so earlier than you would have actually received it from your state.
So if you’re waiting for a score now, don’t bother, it doesn’t work until the AICPA releases scores to NASBA, which is supposed to be within a 7-10 day period beginning the third week of September for this quarter.
To try it, follow these simple steps:
1. Go to the CPA exam section of NASBA’s website and select Ohio regardless of which state you are testing in.
2. Choose Apply Now under the “Re-applying for the Uniform CPA Examination” tab.
3. You will be asked if you have an Ohio jurisdiction ID. Choose no and it will ask you if you have a Social Security number. Choose yes.
4. Follow the rest of the prompts, plug in the information it asks you for and if you get the following message, congratulations, the loophole worked and you passed:
We are sorry. Our system shows that you have already passed all parts of the Uniform CPA Examination. If you have questions, please call your Coordinator at the number given below. Please call the number below.
Some have stated that the loophole also works if you’ve failed. If you get in and see the exam section you are checking on not grayed out, that means it’s allowing you to get a new NTS which obviously means you did not pass.
Bottom line: maybe it works, maybe it doesn’t. If you’re driving yourself insane refreshing your score page waiting for an answer, maybe it wouldn’t hurt to try at the end of the month but you’re really only getting the news a few hours earlier than you would have if you just waited.
This just in:
I have been talking to a variety of people at E&Y from several offices in Ohio and Michigan. The word from them is that there is going to be a significant movement of people once compensation info is passed out. It’s kinda conflicting since the rumor is that raises should be around what they were last year. Not sure what to make about it.
As you recall, last year’s raises and bonuses at Ernst & Young were competitive with PwC, which came as a pleasant surprise to everyone at Black and Yellow but understandably this rumor has our tipster in a flummox. Of course, this could be limited to the Ohio/Michigan area but it’s worth seeing what the Turley’s Troops in other areas are hearing. Share below.
First, if you hate your inventory counts, can you only imagine what it’s like to have to keep tabs on tank after tank of frozen bull semen? Count your blessings, people.
A woman in Ohio pleaded not guilty last week to stealing a tank of bull semen valued at $110,000 from her employer. Authorities say 45 year-old Karen Saum planned to use the semen to extort money out of her employer – the rightful owner of the sperm – to start her own business. I can only imagine what kind of business she planned on starting with the seed money.
Detectives said a tip led them to Saum’s garage, where they found the stolen semen. Just a tip.
Det. James Hollopeter told WHIO TV that Saum used her knowledge of the company’s internal workings to lift only the high quality semen. “She knew where this semen would have been located,” he said. “It was actually locked in an interior closet because it was more valuable that some of the other that they had out.”
Right. Because everyone knows you don’t leave the good shit lying around where any old creepy criminal can get their paws on it.
Maybe this is all the incentive some people need to move to the Buckeye State?
David Brunori that reports that this costs the state $165 million a year. Oh, and if you’re old (i.e. over 65) you get an additional $50. This from a state who has people that use bulldozers when cornered and DO NOT TOLERATE mistakes made by H&R Block employees. [via Tax.com]
So this happened:
An Ohio hotel has been fending off angry phone calls because a broken rope on its flagpole led some to think the business was mourning the death of Osama bin Laden. The rope left the U.S. flag stuck at half-staff outside a Hampton Inn in Springfield in western Ohio two days before bin Laden was killed, its assistant general manager Connie Smith told msnbc.com. However, people started noticing the flag and assuming its position was in honor of bin Laden on Tuesday. The hotel and its company received dozens of calls from people who were either upset or angry. One threatened to run the hoteliers out of town.
Sounds like CFO Geoff Chatas and state auditor Dave Yost wanted to figure a way around a 15-year limit but it was to no avail, “Ohio State CFO Geoff Chatas said Yost discussed with him the possibility of letting Ohio State be the first to stick with the same audit firm, but the school opted to put the contract out for bid.”
A likely story. If you ask me, this has everything to do with the fact that Deloitte’s main color is blue while PwC has opted for slightly more appropriate hues.
Ohio, like many states, is in a bit of a budget pickle and perhaps this level of vigilance is part of the reason.
Denise Bossetti received a notice in the mail that indicated she was due $200 million but was skeptical (even with the letterhead).
Apparently 9,700 Ohioans received notices of inflated refunds and the Ohio Department of Taxation claims this is a new one and that “The problem has been fixed.” Probably a good idea.
Woman gets $200 million tax-return notice — but it was mistake [Sandusky Register via AT]
After a massive flood in the Ohio county of Butler March 25, 1913, the Miami County Conservatory was formed to preserve the quality of Great Miami River water. This mission, hammered out in 1914, allowed for a tax against Butler County residents but apparently when this tax was raised in 1976, it didn’t actually go in front of Butler County votes like it was supposed to.
Which means $4 million in taxes has been collected since then ($252,793.74 in 2009) and somehow no one noticed until now.
Via the Oxford Press (OH):
Following an internal review and opinion from the Ohio Department of Tax Equalization, Butler County Auditor Roger Reynolds is removing the tax from the 2010 bill.
“I am proud of my office for this discovery, and for instituting our plan for stronger internal controls on behalf of the citizens of Butler County,” Reynolds said in a press release. “Our role as government leaders must be to protect taxpayers’ money, and to safeguard against waste and error.”
The tax is allowable according to Ohio law. A 1914 statute states taxes for a conservancy district can be collected up to 10 mills, but anything greater must have voter approval.
The funny part is that according to Miami Conservatory District PR, the county is only obligated to pay $207,982 a year to the conservatory. So they really over-collected.
This county auditor is the same who caught another tax boo-boo in early 2010 in which a $1.46 assessment was wrongly collected from every parcel of land in the county for a grand total of $2.3 million.
And you guys wonder why tax protesters do what they do.
Genzyme Rejects Sanofi’s Overture [WSJ]
“Genzyme Corp.’s board again rejected an $18.5 billion takeover proposal from Sanofi-Aventis SA, although Genzyme suggested it would be open to future talks if there were a higher starting price.
Genzyme’s suggestion contrasts with accusations from Sanofi Chief Executive Chris Viehbacher that he “encountered a brick wall” in trying to begin merger talks. And with the French drug maker stressing its discipline in pursuing the Cambridge, Mass., biotech, the rhetoric from both sides hints that any deal could take some time.”
No horsing around, IRS tells ex-NFL star [Forbes]
“The Internal Revenue Service says ex-football star linebacker Bill Romanowski owes more than $6 million, primarily for claiming losses from a thoroughbred horse-breeding investment whose promoters have admitted was a fraudulent tax shelter.
Romanowski, 44, and his wife, Julie, filed a lawsuit last month in U.S. Tax Court disputing an IRS bill for $5 million in taxes, $1 million in penalties and an unspecified amount of interest. According to his complaint, for the years 1998 to 2004, the Romanowskis said their total taxable income was a negative $11 million. The IRS said it really was $14 million. The difference is a cool $25 million.”
Higher Taxes May Not Push Firms To Cut Dividends [WSJ]
“The expiration of a tax cut on dividend income wouldn’t likely spur firms to significantly cut their dividend payouts, say some scholars who study the relationship between tax rates and corporate behavior.
One big reason is that a growing share of U.S. equities are held by retirement funds and foreign investors that aren’t swayed by U.S. individual income-tax rates.
‘If there is an effect, it will be modest,’ University of North Carolina professor Douglas Shackelford said of the pending higher tax rates. ‘Pension funds, 401(k)’s, foreigners and corporations–all of these don’t care’ about the individual tax rate, he said.”
Alabama county mulling whether to keep, jettison SAP [Reuters]
Jefferson County, Alabama is the latest to have trouble with their SAP system. Unfortunately for JeffCo, they don’t have a huge consulting operation to sue, only an unnamed “third-party consulting firm.”
Guess Who’s Coming to Dinner! [Taxable Talk]
James Traficant, that’s who. Traficant was indicted in ’02 (while serving in Congress) on federal corruption charges and ultimately found guilty on ten counts that included bribery and tax evasion. Despite that track record, he has managed to get the necessary amount of signatures to run as an independent in Ohio’s 17th Congressional District.
Accounting firm raided over alleged drug network [ABC Australia]
Don’t think it can’t happen to you!
A federal grand jury has indicted West Carrollton club owner and Brookville resident Stanley W. Combs III on the charges of one count of operating an illegal gambling business and four counts of making false statements on federal income tax returns…
…The indictment alleges Combs substantially under-reported the income he received as the owner and operator of Fraternal Order of Orioles, Nest 293 at 842 Watertower Lane in West Carrollton and a related entity at 10955 Lower Valley Pike in Medway, Ohio.
There’s no indication that an H&R Block employee advised this particular alleged tax dodger but better to be prepared.
Club owner indicted for illegal gambling, income tax fraud [Dayton Daily News]
Great news everyone! There’s a chance that more bulldozer fun will be had in Ohio, courtesy of Terry “Dozer” Hoskins.
Having demolished his house in less than two hours and knowing that it was only a matter of time before the bank came after his business property, he’s giving serious thought to renting another dozer and finishing this thing once and for all. Small town bank and IRS be damned.
Hey, we’re all for it. If you can a dozer for $500 why not introduce a little more chaos in your life? And don’t worry, the man is a professional and is always mindful of safety, “‘You have to know what you’re doing before doing something like this’ to avoid being hurt, Hoskins said of destroying his house. ‘I’ve run heavy equipment for years.'”
Believe it or not, Dozer’s wife wasn’t thrilled with the whole razing of the house, “Also not happy about the destruction of their house was his wife, Hoskins said. They are now living in one of the buildings on the commercial property.” He must have concluded that since he had already declared bankruptcy and destroyed one piece of property, floating the idea of flattening the business property couldn’t piss off the Mrs. too much more.
Question Hoskins decision-making skills if you like but it’s good to see a man taking pride in his work, “I don’t regret one bit of it.”
What’s the saying about trends? We can’t remember it but after the suicide attack on the IRS last week, we now bring you a less violent but equally ineffective middle finger to the IRS.
Terry Hoskins, of Moscow, Ohio had IRS liens slapped on his carpeting store and other properties. Apparently he used his personal residence as collateral on the business and these other properties, leading his bank to foreclose on his home. Hoskins wasn’t okay with that:
Whether Terry the Bulldozer was looking to get a Facebook following out of this, isn’t entirely clear. But we will give the guy credit; even if he did this to himself by putting up his personal residence for some bad business deals, he’s got pretty creative for the sake of making a point.
“I made a bad business decision. Fuck you IRS! Up yours, RiverHills Bank! You think I’m not serious? I will rent heavy machinery to prove my point. I will make my loved ones temporarily homeless. I will go on a local NBC affiliate to talk about it. How do you like me now?”
Unfortunately, the timing couldn’t be worse. If that attention whore Joe Stack hadn’t gone on his little flight, Terry could be enjoying Joe the Plumber-esque fame right now. Next time, Terry.