We at Vibato have posted about this topic before but some of our customers just don't seem to want to believe it. I thought I'd post again since there is now recent case law to support our claim. The IRS may hold people responsible for overdue taxes that you wouldn't typically suspect - what this means is if you are an accountant, administrative assistant, CEO, etc at a company and you sign the tax return, you could be held liable for the tax due from your company. Yes - you could be liable. This happened to a customer of ours; when the company ran out of money and didn't pay the tax bill, the IRS came to the office and told the Jr. accountant that because she signed the tax return, she was personally liable for the taxes due.
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Tags: Sarbanes-Oxley Articles & Information, Tax Information
This is a great press release we thought our readers would enjoy. Here is a snipet:
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Tags: Sarbanes-Oxley Articles & Information, 404, 404 audit, Sarbanes-Oxley
We all know about the Sarbanes-Oxley Section 404(a), or, managements requirement to attest to the effectiveness of their internal controls via their 10Q/K and quarterly via the Section 302/906 attestations (required for public companies via the Sarbanes-Oxley Act of 2002). There is also Section 404(b), or, the requirement for external auditors to review the 404(a) work and attest to whether or not they agree with management's conclusions. Now, due to the Wall Street Reform Act, let me introduce the new Section 404(c) available from this link:
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The Sarbanes–Oxley Act of 2002 (Pub.L. 107-204, 116 Stat. 745, enacted July 30, 2002), also known as the 'Public Company Accounting Reform and Investor Protection Act' (in the Senate) and 'Corporate and Auditing Accountability and Responsibility Act' (in the House) and commonly called Sarbanes–Oxley, Sarbox or SOX, is a United States federal law enacted on July 30, 2002. It is named after sponsors U.S. Senator Paul Sarbanes (D-MD) and U.S. Representative Michael G. Oxley (R-OH).
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Tags: Sarbanes-Oxley Articles & Information, Compliance tools, 404, 404 audit, Non-accelerated filer 404(b) information, SOX Compliance Made Simple
