Accounting

Answers on $526M in tax mistakes expected in December

September 10, 2012
Associated Press
Auditors reviewing $526 million in tax errors made by Indiana's tax collection agency said Monday they will investigate whether state employees are knowledgeable enough to track tax collections and whether the state has adequate internal controls to guard against future errors.
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Three local accounting firms crack national top-100 listRestricted Content

August 11, 2012
Blue & Co. LLC, Katz Sapper & Miller LLP and Kemper CPA Group LLP are the only three locally based accounting firms to make Inside Public Accounting’s latest annual top-100 list.
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Meridian CPAs folding into larger Somerset firm

July 13, 2012
Four principals and about a dozen other staff accountants and support staff at Meridian will join Somerset in August. Somerset is Indianapolis' seventh-largest accounting firm, based on the number of local full-time employees.
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Hauke receiver files suit against his former accounting firm

July 9, 2012
Scott Olson
The lawsuit accuses convicted money manager Keenan Hauke's former accounting firm of negligence for failing to monitor Hauke's bank accounts, enabling him to use investor funds for his personal use. Hauke was sentenced in March to 10 years in prison.
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Indiana hires Deloitte to assess $500M in mistakes

June 4, 2012
Associated Press
Indiana's state budget leaders picked international accounting firm Deloitte on Monday to determine the scope of an external audit looking at how the state lost track of more than $500 million in tax revenues.
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Indiana panel moves toward audit of $500M in mistakes

June 4, 2012
Associated Press
Indiana's state budget leaders on Monday are expected to take another step toward finding what caused more than $500 million in tax-revenue accounting errors, but a final answer is still a long way off.
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Taxing career path ultimately appeals to entrepreneurRestricted Content

June 2, 2012
Chris O'Malley
Accounting, church jobs lead to software firm that helps tax accountants manage property tax disputes.
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BKD selects Dickman as managing partnerRestricted Content

May 26, 2012
The head of the national accounting firm's Indianapolis office will lead the entire company effective June 1.
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Indiana issues call for external audit of tax agency

May 17, 2012
Associated Press
Indiana budget leaders are looking for an external auditor to review the state Department of Revenue after workers discovered $526 million in errors in recent months.
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Government sues to close tax preparer in 5 cities

March 28, 2012
Associated Press
The U.S. Justice Department is going to court in an effort to close a tax preparation company called Instant Tax Service and its offices in Indianapolis and four other cities, accusing franchisees of preparing fraudulent tax returns to maximize refunds and extract large tax preparation fees.
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Veteran Deloitte managing partner retiring

March 28, 2012
Michael Becher will leave the local office of the accounting firm after a 36-year career, including 20 years as its leader. He'll be succeeded by Mary Boelke, who'll becomes just one of two female managing partners among the city's top 20 accounting firms.
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Indianapolis attorney pleads guilty to theft charges

March 22, 2012
 IBJ Staff and Associated Press
An Indianapolis attorney has pleaded guilty to theft charges after prosecutors say she took nearly $600,000 from two accounts for which she was responsible.
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Fishers collection agency expanding, adding 140 jobs

March 22, 2012
DECA Financial Services LLC plans to add 140 jobs by 2015 as part of a $2.6 million expansion that includes the purchase of a building on Visionary Way in Fishers.
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Local fraternity files suit against former auditor

January 25, 2012
Scott Olson
The foundation of Alpha Tau Omega accuses Indianapolis-based K.B. Parrish & Co. LLP of malpractice and breach of contract stemming from $400,000 in missing funds allegedly taken by a former employee.
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Builder's bookkeeper gets 18-month sentence for theft

January 25, 2012
 IBJ Staff and Associated Press
Kim Hutchison, 52, the former treasurer of Greenwood-based J. Greg Allen Builders and Princeton Homes, has been sentenced to 18 months in prison for allegedly stealing more than $446,000 from the now-closed companies.
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Indianapolis-area mergers and acquisitions in 2011Restricted Content

January 21, 2012
A number of acquisitions last year disclosed no sale price. In the Indianapolis area, those deals ranged from MacAllister Machinery's purchase of a Caterpillar dealership in Michigan to Herff Jones' acquisition of a Memphis, Tenn.-headquartered maker of cheerleading uniforms.
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Panel rejects audit of Indiana revenue department

December 14, 2011
Associated Press
Republican members of the State Budget Committee have rejected Democrats' request for an independent audit of the Indiana Department of Revenue for misplacing $320 million.
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Local software upstart sold after less than year in business

November 22, 2011
 IBJ Staff
Indianapolis-based MyJibe LLC, an up-and-coming budgeting and personal finance software firm that was launched by two 20-something entrepreneurs last January, has already been acquired.
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Dynasty trusts let wealthy escape estate, gift taxes forever

July 28, 2011
Bloomberg News
Carmel financial executive among those who plan to shield millions of dollars in a dynasty trust, so it can be passed on to multiple generations of descendants while paying as little in taxes as possible.
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Military accounting firm closing; 84 jobs lost

July 25, 2011
Virginia-based Kearney & Co., an accounting firm that provides financial services for the federal government, will close its office at the Defense Finance and Accounting Services Center on the east side, resulting in the loss of 84 jobs.
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Accountants lose court battle with former firm

June 16, 2011
Scott Olson
A Marion County judge ruled against three former partners in a local accounting firm who were trying to collect the full amount of their stock ownership after they left the company to start a rival firm.
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Westfield businessman jailed for tax evasion

March 18, 2011
 IBJ Staff
U.S. Attorney Joseph Hogsett said Joseph Hinshaw, 57, under-reported his income from 2003 to 2007 to avoid taxes and to obtain federal and state student loans.
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Uptick in M&A activity suggests a turnaroundRestricted Content

January 22, 2011
Scott Olson
Fourth quarter helps to bolster 2010 deal-making.
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Indiana to stop mailing out state income tax forms

December 29, 2010
Associated Press
The State Department of Revenue estimates the change will affect about 1 million taxpayers and save the state about $200,000 in the next fiscal year.
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Accounting change could have huge impact on real estate leasing

December 11, 2010
Scott Olson
Proposal requires companies to book leases as assets, and stands to shift the momentum to purchases.
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