There are sure to be some surprises in Tax Year 2021, although certain adjustments are already in the works. In this blog, we will highlight some of the IRS's 2021 tax phase-outs, modifications, and inflation adjustments.

Expense fraud, according to the ACFE, is when an employee claims compensation for false or exaggerated expenditures.

The large number of federally-funded programs created as part of the financial stimulus to offset COVID-19 pandemic losses have changed the single audit requirements immensely. 

Outsourcing is one of the most effective business choices for streamlining processes and expanding a company's reach.

As the COVID-19 pandemic continues to present challenges in all areas of life, it is important for CPAs to stay informed about the newest and most prevalent COVID-19-related fraud schemes and scams. 

Business fraud, often known as corporate fraud, refers to illegal acts carried out by an individual or a corporation in an unethical and dishonest manner.

When someone steals money or other assets from you through deceit, unfair, misleading, illegal conduct, or false business practices, this is referred to as financial fraud.

Non-fungible tokens are a type of digital crypto asset that represents real-world objects such as art, music, videos, and in-game items.  Like other types of cryptocurrency, they are bought and sold online and encoded with an underlying software.

Forensic accounting is a branch of finance that integrates investigative abilities with financial acumen.

The Paycheck Protection Program (PPP), which is administered by the United States Small Business Administration (SBA), was created as a part of the Coronavirus Aid, Relief, and Economic Security Act (CARES) in early 2020.  The PPP provided loans to qualifying entities affec