How to prevent expense fraud

When it comes to protecting your organization’s financial resources preventing expense fraud is critical. Expense fraud not only reduces revenue but also leads workers to believe they can get away with theft and possibly more profitable fraudulent activities. Don’t miss: Net investment in capital assets calculation requirement Steps to avoid expense fraud Expense fraud isn’t …

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Are you at risk for wages in kind fraud?

During the normal course of business, it is important for management to keep in mind when and why fraud may occur within their organization. By gaining an understanding of what motivates employees to commit fraud, management can assess risks and apply procedures to their daily operations to reduce the opportunities available to commit fraud. The …

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Made for TV – Top Tax Court cases of 2021 the sequel

As they say on the TV show American Greed ……”wanna know more?” Well, here’s a few more of the top IRS cases of 2021 that would fill a few more episodes. Orlando sisters in a $25 million tax fraud scheme, a Russian Bank founder evading tax upon renouncing his U.S. citizenship and an ex-pastor in …

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Made for TV – Top Tax Court cases of 2021

Have you ever watched the television show American Greed? These Top Tax Court cases of 2021 would fill more than a few episodes. Embezzlement of funds from a nonprofit, a family fraud ring that stole millions in COVID-relief funds, a billion-dollar Ponzi scheme used to buy sports teams and luxury vehicles and more. Don’t miss: …

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Does your company have antifraud programs and controls?

Antifraud programs and controls are put in place by a company to ensure management directives are carried out related to compliance with laws and regulations. Good antifraud programs and controls should focus on prevention, deterrence and detection of fraud related activities. Normally, there are three conditions that are present when fraud occurs: 1) incentive/pressure 2) opportunity …

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More tax scams to be aware of

One thing’s for sure. Nothing is certain except death and taxes…and thieves trying to scam you out of your money. Another year, another IRS “Dirty Dozen” tax scam list. Adding to the annual list of popular scams, the IRS is warning Americans to be on the lookout for fraudsters masquerading as tax professionals peddling the …

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IRS’s ‘Dirty Dozen’ tax scams for 2021

The IRS has recently released their “Dirty Dozen” list of the 12 most common tax scams to be on the lookout for. They are categorized as pandemic-related scams, personal information cons, ruses focusing on unsuspecting victims and schemes that persuade taxpayers into unscrupulous actions. Don’t miss: Closing a California business Phishing – Taxpayers should be …

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Did You Hire An In-Home Teacher? You Might Be A Household Employer!

With the rise of COVID-19, many families have had to switch to online or home school learning for the safety and wellbeing of their children. Kudos to all of the parents out there right now – I cannot begin to imagine the hardships and challenges this year must have brought. One choice that many parents …

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COVID scammers texting promises of additional stimulus payments

We all know the saying about “death and taxes”, but sometimes it seems like scams should be added to that list. Every year, and probably even more frequently than that, scammers are coming up with clever new ways to trick taxpayers out of their personal information, money or both. In a year like 2020, the …

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Is fraud happening in your organization?

We know the fraud triangle is made up of opportunity, pressure and rationalization. For many businesses, all three can occur. Dishonest employees learn the ins and outs of your organization and find ways to commit fraud without raising suspicion. Discussed below are the three biggest areas employee fraud can occur within your organization. Don’t miss: …

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