Accounting Today

Accounting Newswire

• IRS Offers Workaround for Form 8949 Glitch

  April 18, 2013

  The Internal Revenue Service is offering an updated way to handle problems with the Form 8949, which has been having issues this past tax season.

• Congressman Introduces Stock Trading Sales Tax

  April 18, 2013

  Rep. Keith Ellison, D-Minn., introduced a bill Wednesday that would establish a tax on the trading of stocks and other financial products.

• IRS Misroutes Tips about Tax Fraud

  April 18, 2013

  The Internal Revenue Service improperly screens many reports of possible tax fraud submitted by taxpayers and routes them to the wrong place, according to a new government report.

• 24 IRS Employees Indicted for Fraudulently Obtaining Government Benefits

  April 18, 2013

  Federal prosecutors in Memphis have charged 24 current and former Internal Revenue Service employees with crimes stemming from fraudulently obtaining more than $250,000 in government benefits.

• Concur Unveils its Own App Center

  April 18, 2013

  Cloud-based travel and expense management service Concur officially unveiled the Concur App Center, a new marketplace that provides Concur clients and their employees with access to Web and mobile applications that are integrated with Concur.

• Amex Small Business Cards Now Offer Receipt Scanning

  April 18, 2013

  American Express OPEN, the small business payment card issuer division of Amex, has launched ReceiptMatch, a new feature that matches images of receipts to transactions on online credit card statements.

• Senators Introduce Bill to Expand Use of S ESOPs to Encourage Greater Retirement Savings

  April 18, 2013

  A pair of senators have introduced bipartisan legislation aimed at expanding the use of S corporation employee stock ownership plans, or S ESOPs, to encourage more Americans to save for retirement.

• Herz Pens Book on FASB Experiences

  April 18, 2013

  Former Financial Accounting Standards Board chairman Robert Herz has written a new book on his experiences chairing the Financial Accounting Standards Board and the challenges he faced during the financial crisis.

• Integrated Reporting Framework Gains Early Traction

  April 17, 2013

  A proposed Integrated Reporting Framework unveiled by the International Integrated Reporting Council this week is attracting some early support.

• IRS Needs Better Strategy for Getting More Interactive Online

  April 17, 2013

  The Internal Revenue Service needs a long-term strategy to improve the interactive services it offers online, according to a new government report.

• Wastvedt & Co. Adds Advantage Tax and Accounting Services

  April 17, 2013

  Wastvedt & Co. has acquired the San Diego-based accounting firm, Advantage Tax and Accounting Services. Deal terms were undisclosed.

• IRS Overlooks Fraud Indicators

  April 17, 2013

  The Internal Revenue Service does not always recognize and properly investigate signs of tax fraud, according to a new report, foregoing at least millions of dollars in potential fraud penalties.

• IRS Gives Boston Taxpayers 3-Month Extension

  April 17, 2013

  The Internal Revenue Service granted a three-month tax filing and payment extension to Boston-area taxpayers and others affected by Monday’s explosions at the Boston Marathon.

• IRS and States Swamped by Last-Minute Tax Filings

  April 17, 2013

  The Internal Revenue Service is struggling to respond to an onslaught of tax returns filed on April 15, which is delaying acknowledgements to both federal and state returns.

• Thomson Reuters Buys TaxWorks Assets of RedGear Technologies

  April 16, 2013

  The Tax & Accounting business of Thomson Reuters has acquired select assets of the TaxWorks software line from RedGear Technologies, the customers of which will be transitioned to UltraTax CS – part of the CS Professional Suite.

• Senate Seeks Ways to Fight Tax Fraud and Identity Theft

  April 16, 2013

  The Senate Finance Committee held a hearing Tuesday on moving forward with solutions to tax fraud and tax identity theft as they grappled with an expanding problem that has plagued recent tax seasons.

• Congress Introduces Bill to Have IRS Automatically Fill out Tax Forms

  April 16, 2013

  A pair of Congressmen have introduced legislation that would allow the Internal Revenue Service to provide taxpayers with a tax form already containing information received from employers and banks to streamline the tax prep process.

• Former IRS Agent Sentenced in Plot to Murder Tax Clients

  April 16, 2013

  A former Internal Revenue Service agent-turned-tax preparer has been sentenced to nearly 24 years in prison for defrauding his tax clients out of more than $11 million and then hiring a hit man to kill them to prevent them from testifying about the theft.

• TermSync Launches Cloud Accounts Receivable Scorecard

  April 16, 2013

  Cloud-based accounts receivable software developer TermSync has released TermSync Scorecard, an interactive dashboard designed to allow financial executives to take a deeper look into the accounts receivables department.

• IIRC Releases Draft Framework for Integrated Reporting

  April 16, 2013

  The International Integrated Reporting Council has issued a consultation draft of its International Integrated Reporting Framework, which aims to create the foundations for a new reporting model that will enable a business to provide a concise communication of how it creates value over time.