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Archive for the Internal Controls Category

Mnuchin, Kautter Testify Before Senate Committee on Outdated IRS Technology

IRS Budget Hearing Testimony The IRS’s “Achilles’ heel” is using outdated software originating from the 1960s, Acting IRS Commissioner David Kautter told Senate lawmakers. Kautter and Treasury Secretary Steven Mnuchin testified in a May 22 Senate Appropriations Financial Services and General Government Subcommittee hearing. System Shut Down…

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It’s About the Process

When Entrepreneurs finally decide to live their dream and start their own business, it is understandable their financial goals are at the top of the list. Two of the top five reasons small businesses fail include poor accounting and cash flow management. However, according to the New…

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Ways and Means Lawmakers Introduce Bill to Remove SSNs from Mailings

House Ways and Means Social Security Subcommittee Chairman Sam Johnson, R-Tex., and Subcommittee member Jim Renacci, R-Ohio, on May 25 introduced legislation intended to protect taxpayers from identity theft. The Social Security Must Advert Identity Loss (Social Security MAIL) Bill of 2016 (HR 5320) would require the…

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