How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask PDtax Your Own Question
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4622
Experience:  35 years tax experience, including four years at a Big 4 firm.
Type Your Tax Question Here...
PDtax is online now
A new question is answered every 9 seconds

Is a CPA and partner in a large CPA firm. One of s audit

Customer Question

is a CPA and partner in a large CPA firm. One of his audit clients was found guilty of issuing fraudulent financial statements. The SEC sued John for failure to find and disclose his client’s fraud. The suit demanded $100,000 of fines and $2 million of restitution. John settled with the SEC before the suit was decided. He paid the SEC $1 million. Discuss the taxation of this settlement. How would your answer change if the settlement was paid by the CPA firm?
Submitted: 2 years ago.
Category: Tax
Customer: replied 2 years ago.
I have to type a two page tax research memo on the findings.
Expert:  PDtax replied 2 years ago.

Hi from Just Answer. I'm Pdtax, and can assist.

The price offered for the research and memo is a bit low. I can assist, and will post an Offer for a price increase.

Accept, and I can start tomorrow. Please advise your deadline.

Customer: replied 2 years ago.
Sorry it's due tomorrow at 8 a.m.