Weekly News Round Up: IRS Kicks Off Tax Season; One Third of Audits Fail, According to PCAOB; and the Strangest Tax Deductions

Welcome to the Weekly News Round Up from the SC&H blog.  Each week, we showcase a series of news stories that span everything from government contracting to personal finance to state and local tax issues.

This week, we have compiled stories about the IRS kicking off tax season, the PCOAB chief auditor stating that 1/3 of audits fail and the “strangest” tax deductions.

IRS Kicks Off Tax Season for Individual Returns

The Internal Revenue Service began accepting individual tax returns on Friday, kicking off the official beginning of tax season.

One in Three Audits Fail, PCAOB Chief Auditor Says

More than one in three audits inspected by the U.S. government’s audit watchdog were so deficient, the auditors shouldn’t have signed off, according to the PCAOB’s chief auditor.

Former Blackrock CFO Buller to Chair FASAC

The Financial Accounting Foundation has appointed Steven E. Buller, the managing director and former CFO of the investment management firm BlackRock, as the new chairman of the Financial Accounting Standards Advisory Council.

Dell CFO Brian Gladden Resigns, Eyes a CEO Chair

Dell finance chief Brian Gladden has resigned, reportedly to become CEO at a different, as-of-yet unnamed company.

How Secure is Your Data? 5 Key Considerations around Data Center Compliance

As cloud computing continues to grow and evolve – one of the key consideration points remains security.

2014: A Good Year for Commercial Real Estate Lending

A steadily improving economy, stepped-up bank activity and continued low interest rates all bode well for the lending environment.

Slide Show:  The Strangest Tax Deductions

The Minnesota Society of CPAs recently conducted its annual CPA member survey about the most strangest and unusual tax deductions proposed by clients. The responses included everything from pets and wedding rings to gifts not given.