Governmental entities are the second largest victims of embezzlement. This seminar examines recent events involving theft of public money and circumstances that allowed the fraud to occur. Case studies we examine include the 2012 $54 million embezzlement from the City of Dixon by Rita Crundwell. The events that impacted the small Illinois town of 16,000 residents was the largest governmental fraud case to date, and spanned an astonishing 20 years. This remarkable story inspired an award-winning documentary, "All the Queen's Horses." We will also examine factors that led to scandals involving the Baptist Foundation of Arizona, World Com, Collin Street Bakery and the Ohio American Cancer Society, among others. This course is ideal for CPAs, government finance personnel, all Internal Auditors, lawyers, governance professionals, accountants and human resource personnel. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Learning Objectives
After attending this presentation, you will be able to...
- Recognize what constitutes digital assets.
- Determine the differences between cryptocurrency and NFTs.
- Identify the IRS forms needed to report digital asset contributions.
- Calculate the value of the contribution.
- Compare differences in required substantiation based on the amount of the contribution.
- Recall the latest rulings by the Treasury Department and courts on these contributions.
Major Topics
The major topics that will be covered in this course include:
- Implications for individuals
- Changes to the Saver’s Credit
- Changing the required minimum distribution rules for Roth 401(k)s
- Changes to required beginning dates for required minimum distributions of retirement plans.
- Penalty-Free Withdrawals for Certain Emergency Expenses
- Special provisions for firefighters and military personnel spouses
- Increases in catch-up contributions
- Impact on 529 plans
- Opportunities for student loan payment matching
- Implications for Employers
- Starter § 401(k) plans for small employers
- Requiring automatic 401(k) enrollment
- Improving worker access to emergency savings
- Increasing part-time workers’ access to retirement accounts
- Statute of Limitations on excise taxes imposed on overcontributions to retirement plans
- Multiple employer §403(b) plans
- Automatic portability provisions
- Other changes in the administration of company retirement plans
