WebCPA Staff

Los Angeles Lakers forward Lamar Odom has filed suit against the Internal Revenue Service because it would not allow him to deduct $12,000 in fines and $127,000 for fitness training.

Nearly 99 million individuals filed their federal income tax returns electronically during 2010, a 3 percent increase in the IRS e-file rate, mainly due to taxpayers who prepared and filed their own taxes from their home computers.

Cougar Mountain Software said its CMS Professional 2011 accounting software product line has been officially validated to allow customers to process, store, and transmit credit and debit card data safely and securely and remain PCI compliant.

H&R Block released an update on its lawsuit against its refund anticipation loan provider, HSBC, saying the two have been “in discussions.”

CEOs of accounting institutes from around the world met at the World Congress of Accountants in Malaysia, where they discussed the need for companies to report on non-financial results in areas such as social and environmental activities.

Homeowners making energy-saving improvements this fall can cut their winter heating bills and lower their 2010 tax bill as well.

An international monitoring group overseeing accounting standard-setters has issued a report that found the International Federation of Accountants has carried out a series of reforms in recent years, but outlined some steps it should pursue in the future.

RSM McGladrey and McGladrey & Pullen have named four new leaders for various industries.

Small business employment growth and compensation picked up in October with a strong uptick in hours worked, according to a new payroll report from Intuit.

The bi-partisan panel appointed in February by PresidentObama and charged with reducing the mammoth U.S, deficit, has released a draftproposal calling for billions in spending cuts as well as overhauling the taxcode in an effort to cut U.S. debt down to 60 percent of GDP by 2024.

Chicago - Nearly half of the nation's chief financialofficers and senior controllers polled by global CPA and business advisory firmGrant Thornton say that the U.S. should not adopt international FinancialReporting Standards until after U.S. GAAP and IFRS have converged to the pointwhere the differences are inconsequential - a time frame of between five toseven years.

Cloud-based document storage and sharing solution provider SmartVault has released SmartVault Version 3.2, which boasts a new, custom-branded document portal as well as paperless workflow features.

Nearly one out of every eight dollars under professional management in the United States today — 12.2 percent of the $25.2 trillion in total assets under management tracked by Thomson Reuters Nelson — is involved in some strategy of socially responsible and sustainable investing, according to a new study.

A bipartisan pair of U.S. senators has written to the co-chairmen of the federal deficit commission asking them to consider raising the gas tax to finance highway construction nationwide.

A bipartisan group of key congressional committee chairmen pledged to patch the alternative minimum tax this year and wrote to IRS Commissioner Doug Shulman telling him to plan for AMT relief.

The College for Financial Planning has introduced theAccredited Domestic Partnership Advisor credential, a designation thataddresses the financial needs of non-traditional families.

Cloud-based accounting solutions providerFinancialForce.com has released "My Account," a self-service functionallowing users to securely publish billing and payment activity for theircustomers on a Salesforce customer portal.

The International Federation of Accountants has namedformer Arthur Andersen chairman Robert Mednick as the recipient of itsquadrennial Sempier Award.

Red Wing Software, a provider of financial applicationsto the agribusiness and non-profit sectors among others, has added an inventorymodule to its flagship CenterPoint Accounting.

Payroll and benefits outsourcing provider ADP is nowoffering enhancements in its Taxware Enterprise System with Data Editor - itssales, use, and value added tax system - which includes a hosted version of theproduct.