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Accounting

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Tax Day Arrives With Surge In Scams: How To Stay Safe Tax Day Arrives With Surge In Scams: How To Stay Safe
Tax Day Arrives With Surge In Scams: How To Stay Safe As the tax filing deadline arrives on Wednesday, April 15, the IRS is urging taxpayers to remain vigilant against a wave of increasingly sophisticated scams. Fraudsters are employing new technology, including Artificial Intelligence, to deceive taxpayers and steal personal information or money. Here are the top scams to watch out for as the deadline nears: AI-Powered Impersonation Scams Voice Cloning, Fake Videos: Scammers are using AI to mimic the voices of IRS officials or create fake videos, making their calls and messages appear more credible and urgent. AI-Generated Phishing: AI e…

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by Joe Lombardi
News
Woman Steals Over $50K From Employer In Region Through Payroll Scheme, Police Say Woman Steals Over $50K From Employer In Region Through Payroll Scheme, Police Say
Woman Steals Over $50K From Employer In Region Through Payroll Scheme, Police Say A woman is accused of padding her own paychecks and stealing more than $50,000 from her Capital Region employer, police said. Gina Luby, 53, was arrested at her Schenectady home on Tuesday, May 6, following a months-long investigation by New York State Police, the agency revealed Monday, May 12. Troopers began investigating in February when a Duanesburg business filed a complaint reporting significant financial discrepancies.  Investigators determined that Luby, who had worked in the company’s accounting department since 2020, began overpaying herself without authorization beginning …

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by Michael Mashburn
Sports
Former WWE CEO Vince McMahon To Pay $1.7M+ For Hiding Sexual Misconduct Payments Former WWE CEO Vince McMahon To Pay $1.7M+ For Hiding Sexual Misconduct Payments
Former WWE CEO Vince McMahon To Pay $1.7M+ For Hiding Sexual Misconduct Payments World Wrestling Entertainment founder Vince McMahon will pay more than $1.7 million after he was accused of not disclosing payment agreements related to sexual misconduct with two women, officials said. McMahon, WWE's former executive chairman and CEO, reached the agreement related to charges from the Securities and Exchange Commission, the federal agency said in a news release on Friday, Jan. 10. The SEC said McMahon concealed the "hush money" payments, creating discrepancies in WWE's financial reports. McMahon agreed to pay a $400,000 civil penalty and reimburse $1,330…

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by Chris Spiker
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