Accounting
IRS expands eligibility for worker reclassification program
The IRS has announced a revision to its voluntary classification settlement program (VCSP) that provides partial relief from federal employment taxes for eligible taxpayers who agree to prospectively treat workers as employees.
Maine simplifies legal definition of ‘independent contractor’
As of Monday, Maine has adopted a new standard for who can be considered an independent contractor for Workers’ Compensation, unemployment insurance and other purposes. Until this week, the Maine Department of Labor, the Maine Workers’ Compensation Board and Maine Revenue Services each had different standards for who can be considered an independent contractor. This […]
Maine launches Project Login to double state’s computer science graduation rate
The mismatch between existing and future jobs in Maine, and the workers willing and able to do them, applies across many fields, from hospitality to advanced manufacturing.
FDIC goes after 42 more directors, officers of failed banks
The FDIC has authorized directors-and-officers lawsuits involving 42 defendants in December in connection with bank failures, according to a summary last updated by the federal agency Dec. 13.
Former SunTrust vice president sentenced for embezzlement
A former SunTrust Bank Vice President was sentenced to 10 months in federal prison for embezzlement and other related crimes Wednesday.
Philly cop who scammed city out of real-estate taxes gets fired
Philadelphia police commissioner Charles Ramsey has decided to fire Officer Elaine Thomas for an alleged tax scam, saying that a suspension wasn't enough.
U.S. economy a growing concern for Canadian executive CAs: CICA Business Monitor
Canada's executive chartered accountants are increasingly anxious about the U.S. economy heading into a new year, according to the latest CICA Business Monitor (Q4 2012).
Alabama accountant sentenced to 38 months for embezzling from client
A Montgomery accountant has been sentenced to 38 months in federal prison for embezzling about $440,000 from an elderly client's account, the U.S. Attorney's Office announced Wednesday.