The Association of Certified Fraud Examiners reports that fraud committed by employees against their employer creates approximately $7 billion in losses each year. While it is unlikely for corporate fraud victims to recover these losses, companies can implement measures to better protect themselves. Sunrise Banks recently published an article on how to prevent occupational fraud. In the article, Chris Roane, Senior Manager in Bennett Thrasher’s Dispute Resolution & Forensics practice, explains how small businesses are more susceptible to these cases.
The recently passed Paycheck Protection Program (PPP) Flexibility Act of 2020 provides employers with more flexibility and time to use PPP funds and qualify for loan forgiveness. The program’s lending terms are particularly beneficial to the restaurants and retailers that were forced to either delay their reopening or resume operations at a reduced level. To educate Georgia restauranteurs and franchisors about these changes, Bennett Thrasher hosted a webinar in collaboration with the Georgia Restaurant Association on the PPP Flexibility Act.
Bennett Thrasher recently hosted the eighth annual Break Through Conference, a two-day summer leadership event for 65 undergraduate students. This year’s virtual conference, which was the largest since its inception, attracted students from over 15 colleges and universities across the country, including the University of Georgia, Auburn University and Kennesaw State University.
Law360 published an article discussing the recent $6 million win for AT&T subsidiaries in Georgia to be able to recover wrongfully paid sales and use taxes for customers between November 1, 2005 and May 4, 2009. This ruling by the Georgia Supreme Court partially reverses a state Court of Appeals decision and raises questions about the procedures for recovering a customers’ taxes. The publication looked to Brian Sengson, a Senior Manager in Bennett Thrasher’s State & Local Tax practice, for his outside perspective on the case.
Bennett Thrasher, one of the largest full-service public accounting and consulting firms in the country, announces the promotion of three of its professionals to its partnership effective July 1, 2020. The professionals being promoted are John Cummings, Jim Dougherty and Chris Edwards.
In a recent webinar, Peter Stathopoulos, leader of Bennet Thrasher’s State & Local Tax practice and the firm’s Entertainment practice, breaks down the many expenses production companies could experience due to COVID-19. These expenses include shut down, interim holding and restart costs. As production companies strategize the most effective ways to tackle these expenses, they are looking to individual states to issue legislation and provide production incentives.
On June 22, 2020, the Small Business Administration (SBA) issued a new Interim Final Rule to revise previous guidance released concerning PPP loan forgiveness and loan review procedures, officially updating the language of the PPP’s Final Rules to include the changes made by the Paycheck Protection Program Flexibility Act of 2020 (PPP Flexibility Act). The new guidance mostly updates the rules for changes we already knew about but also provides answers to several questions that had been troubling borrowers.
LODGING Magazine recently published an article by Trey Webb, Partner in Bennett Thrasher’s Tax practice, that shares five steps hoteliers must take to keep their properties afloat as they wait for the coronavirus impacts to subside.
Although the major majority (92 percent) of tax returns are filed electronically, the IRS is seeking full conversion to e-filing. Two sections of The Taxpayer First Act of 2019 (TFA) extend that mandate by requiring more businesses, partnerships and nonprofit organizations to e-file.
LEA Global welcomes Anthony (Tony) Szczepaniak as Chief Executive Officer (CEO). Szczepaniak will lead the strategic direction and day-to-day operations of the international accounting association, focusing on membership best practices, cohesiveness, collaboration and growth.