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Accounting

Business
Macy's Employee Hid Up To $154M In Expenses Since 2021, Company Says Macy's Employee Hid Up To $154M In Expenses Since 2021, Company Says
Macy's Employee Hid Up To $154M In Expenses Since 2021, Company Says A Macy’s employee misstated up to $154 million in delivery expenses over several years, the company just said. The development forced the retailer to delay its third-quarter earnings report. The employee, whose name has not been released, has been fired. According to the company, the employee responsible for accounting small package delivery expenses made erroneous accrual entries to conceal the costs from the fourth quarter of 2021 through the most recent quarter. During that time, Macy’s reported a total of $4.36 billion in delivery expenses. The company conducted an independent investi…

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by Joe Lombardi
News
$2M Scheme: Westchester Accounting Firm Partners Admit To Tax Fraud Conspiracy $2M Scheme: Westchester Accounting Firm Partners Admit To Tax Fraud Conspiracy
$2M Scheme: Westchester Accounting Firm Partners Admit To Tax Fraud Conspiracy Two New York accounting firm partners have pleaded guilty to a multi-million dollar tax evasion scheme.  Click here for a new, updated story - Update: Scarsdale-Based Accountant Nabbed In Tax Fraud Scheme Was Longtime Firefighter Westchester County resident George Sanossian, age 70, of Scarsdale, and New Jersey resident Jack Sardis, age 66, of Englewood Cliffs, both certified public accountants, admitted to conspiracy to defraud the IRS by scheming with clients to reduce tax liabilities through a shell company, leading to over $2 million in unreported cash transactions.  The tw…

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by Joe Lombardi
Obituaries
'She Was Always Kind': 19-Year-Old College Student From Capital Region Dies After Cancer Battle 'She Was Always Kind': 19-Year-Old College Student From Capital Region Dies After Cancer Battle
'She Was Always Kind': 19-Year-Old College Student From Capital Region Dies After Cancer Battle Friends and family are mourning the loss of a beloved college student from the region following her death from cancer. Saratoga County resident Sophia John, of Ballston Spa, died Monday, Dec. 18, at the age 19 after a short battle with leukemia, according to her obituary. John graduated from Shenendehowa High School in 2022 and was a sophomore at Bentley University in Waltham, Massachusetts, where she was majoring in corporate finance and accounting. At Bentley, she was a member of the Zeta Rho Chapter of Alpha Phi and held a spot in its recruitment team. Relatives described John as an a…

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by Michael Mashburn