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Certified Public Accountant

PWC to Pay $65 Million to Resolve Lawsuit Over MF Global but Doesn’t Admit Liability

PWC to Pay $65 Million to Resolve Lawsuit Over MF Global but Doesn’t Admit Liability

NEW YORK (Reuters) – PricewaterhouseCoopers agreed to pay $65 million in cash to settle a lawsuit claiming it fraudulently deceived MF Global Holdings Ltd investors about its auditing of the now-defunct brokerage, which was run by former New Jersey Governor Jon Corzine. The preliminary settlement with investors in MF Global’s common stock, bonds and convertible […]

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IRS and National Tax Groups Join in Helping Choose the Right Tax Return Preparer

IRS and National Tax Groups Join in Helping Choose the Right Tax Return Preparer

IR 2014-116, Fact Sheet 2014-11, December 2014   In a press briefing, IRS has announced that it was joining with several national tax organizations to provide people with new options to get information and tips on selecting tax professionals and avoiding unscrupulous return preparers. A Fact Sheet provided additional tips to keep in mind when […]

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Support Grows for Revised Related Parties Standard

Support Grows for Revised Related Parties Standard

Finance executives gave their stamp of approval to the PCAOB’s revised proposed changes to the auditing standard on related party transactions. Issues with related parties played a prominent role in the scandals that surfaced more than a decade ago at Enron Corp., Tyco International Ltd., and Refco Inc. The subject was one of the six […]

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UK’s “Big Four” accountants under fire from watchdog

UK’s “Big Four” accountants under fire from watchdog

As reported in Reuters, companies in Britain could be forced to switch accountants to break up the cosy relationships between the “Big Four” and their clients, blamed for masking weaknesses exposed by the financial crisis. The “Big Four” – KPMG, PwC, Ernst & Young and Deloitte – check the books of nearly all listed companies […]

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Tax Preparer Sentenced to18 Months in Custody for Falsifying 283 Tax Returns, Costing the Government $1 Million

Tax Preparer Sentenced to18 Months in Custody for Falsifying 283 Tax Returns, Costing the Government $1 Million

As reported in the news by the DOJ, John Leonard Camilo was sentenced to serve 18 months in custody by United States District Judge Larry A. Burns. According to court records, in early 2004, Camilo began preparing and filing United States Federal Income Tax Returns for his friends, associates and acquaintances (the “taxpayers”). When filing […]

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IRS falsely demands funds for foreign trusts – CPA group

IRS falsely demands funds for foreign trusts – CPA group

As reported in the news in Reuter’s, U.S. tax authorities are issuing false notices to taxpayers who own and benefit from foreign trusts, investment vehicles set up in some cases to shelter income, a professional group said on Wednesday, calling it a widespread mistake. The nation’s biggest group of accountants asked the Internal Revenue Service […]

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Hong Kong regulator takes Ernst & Young to court for work papers

Hong Kong regulator takes Ernst & Young to court for work papers

As reported in the news by Reuter’s, Hong Kong’s securities regulator, in an unprecedented move, took Ernst & Young to court after the audit giant failed to turn over accounting records related to a former China-based client. The auditor now faces the dilemma of whether to comply with the regulator’s order and risk a possible […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Member CA Bar Member Orange County Bar US Tax Court Attorney