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Accounting Newswire

  • Obama Proposes Business Tax Reforms

    February 22, 2012

    The Obama administration unveiled a set of proposals for business tax reform on Wednesday aimed at lowering the corporate tax rate to 28 percent from a high of 35 percent, while eliminating dozens of tax loopholes and subsidies.

  • EFP Rotenberg Merges in Toski & Co.

    February 22, 2012

    Two upstate New York firms, EFP Rotenberg and Toski & Co., have agreed to combine.

  • Financial Optimism Hits 2-Year High

    February 21, 2012

    Americans are regaining confidence in their financial security, according to a new survey by Country Financial.

  • Wells Fargo Tweets for Retirement Planning

    February 21, 2012

    Wells Fargo is using Twitter to spread the word about saving for retirement.

  • Sage Launches Online Workspace

    February 21, 2012

    Sage North America unveiled Sage Source, a personalized, Web-based workspace through which companies can offer their employees secure access to a library of value-added services, ranging from personal payroll history to company announcements and shopping discounts.

  • Bisk Approved by IRS to Provide CPE to Tax Preparers

    February 21, 2012

    Bisk Education has been approved as a continuing education provider by the Internal Revenue Service as part of the IRS’s drive to require tax preparers to undergo mandatory continuing education.

  • BKD CEO Neal Spencer Plans to Step Down

    February 21, 2012

    Neal Spencer, who has led Top 10 firm BKD for nearly five years, plans to step down around June 1, according to the firm.

  • IRS Finalizes Whistleblower Regulations

    February 21, 2012

    The Internal Revenue Service has finalized its regulations on paying rewards to whistleblowers for up to 30 percent of the proceeds collected for helping the IRS detect underpayments and violations of the tax laws.

  • FEI Opens Japanese Chapter

    February 21, 2012

    Financial Executives International has established its first-ever international chapter, FEI Japan, expanding the organization beyond North America.

  • Expats Press Capitol Hill for Tax Reforms

    February 21, 2012

    A nonprofit group representing the interests of U.S. citizens living overseas met with congressional staffers to push for a residence-based taxation system.

  • U.S. Official "Optimistic" on Global Accounting Move

    February 21, 2012

    A senior U.S. regulator was "optimistic" on Monday about finding a framework for the world's top economy to use global book keeping rules for investors to compare cross-border companies.

  • Price to Retire as OSCPA CEO

    February 21, 2012

    J. Clarke Price, president and chief executive of the Ohio Society of CPAs, will retire effective Dec. 31, 2012 after a 40-year career with the 22,000-member association.

  • IRS Experiences Further Tax Refund Delay Problems

    February 20, 2012

    The Internal Revenue Service has been having more problems with delayed tax refunds.

  • Accounting Boards Plan More Outreach on Revenue Recognition

    February 17, 2012

    The Financial Accounting Standards Board and the International Accounting Standards Board are planning to host a series of outreach meetings around the world on their latest proposals for changes in the standards for revenue recognition.

  • Most Taxpayers Plan to Save, Not Spend, Tax Refunds

    February 17, 2012

    Just over 50 percent of Americans anticipate they will receive a refund on either their federal or state income tax return this year, according to a new survey, and of those 63 percent said they plan to save or invest at least part of the money.

  • IRS Makes Allowances for Taxpayers in ‘Arab Spring’ Countries

    February 17, 2012

    The Internal Revenue Service is giving extra time to taxpayers who lived in some of the countries caught up in the “Arab Spring” upheavals in the Middle East.

  • PCAOB Drops Firm for Failing to File Annual Report

    February 17, 2012

    The Public Company Accounting Oversight Board has revoked the registration for a firm for failing to file an annual report or pay its annual fee for 2011 and ordered the firm to pay a $5,000 penalty.

  • Congress Passes Payroll Tax Cut and Unemployment Benefits Extension

    February 17, 2012

    Congress passed legislation Friday extending the payroll tax cut, unemployment benefits, and the “doc fix” for Medicare physician reimbursements through the remainder of the year.

  • GASB Revises Government Finance Guides

    February 17, 2012

    The Governmental Accounting Standards Board has expanded and updated its guide to understanding local government financial statements, and plans to publish more taxpayer-oriented guides later this year.

  • IRS Stops Tax Preparers Accused of Stealing Client Refunds

    February 17, 2012

    The Internal Revenue Service’s Criminal Investigation division has cracked down on a pair of Southern California tax preparers accused of stealing their clients’ tax refunds.


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FASB Chair Leslie Seidman on Convergence with IFRS

February 1, 2012

Financial Accounting Standards Board chairman Leslie Seidman provides an update on the progress FASB is making on converging U.S. GAAP with IFRS.

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SLIDE SHOW

Most Outrageous Tax Deductions

February 21, 2012

The Minnesota Society of CPAs recently surveyed its CPA members to identify the most creative tax deductions proposed by their clients. Here are some of the wackiest suggestions.

Most Unusual Items Submitted on Employee Expense Reports

January 19, 2012

The results are bound to raise the eyebrows of any financial executive.

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