WebCPA Staff

Sen. Christopher Dodd, D-Conn., has released a draft version of the financial regulatory reform legislation that he has been working to write since the House passed its own legislation last December.

Rep. Rush Holt, D-N.J., has introduced legislation to encourage small business investment and job creation by expanding the research and development tax credit.

Payroll and benefits outsourcing provider Paychex has opened its Paychex Retirement Services to fee-based advisors, allowing them to perform such functions as direct automated payments, consolidated reporting and tracking.

Accounting firm Marcum’s recruiting arm Marcum Search has opened a temporary services division that will offer temporary employee placements for all types of industries.

AccuFund, Inc. has expanded the capabilities of its AccuFund Accounting Suite by integrating it with Excel-based financial reporting software F9 Professional Version 5, allowing it to create customizable reports in Excel.

A group of senators has asked executives overseeing the Boys & Girls Clubs of America to account for the high salaries, perks, executive retirement plans and lobbying expenses at the nonprofit group.

Grant Thornton has resigned as the auditor of Yuhe International, a Chinese poultry company, after questioning loans made to a company affiliated with Yuhe’s chairman and CEO.

LECG Corp. has closed its merger with Smart Business Advisory & Consulting.

The Internal Revenue Service is collecting information on approximately 20 Swiss banks, according a letter from UBS, one of the main banks it has been investigating.

Two IRS Service Center employees in Covington, Ky., were charged in a 29-count indictment with stealing thousands of dollars in money orders.

An IRS employee in the U.S. Virgin Islands and her husband have been charged with filing 32 false federal tax returns using the names of friends and family members.

Phil Liberatore, a CPA and the founder of a business called IRS Problem Solvers, has launched a congressional campaign challenging a Republican incumbent from the right.

The Treasury and Energy Departments, along with the IRS, said billions of dollars in government investment grants for smart grid technology would be non-taxable, paving the way for the technology to move forward.

The Financial Accounting Standards Board and the International Accounting Standards Board have jointly published an exposure draft on the concept of reporting entities, including how they control other entities.

An $18.7 million system that the Internal Revenue Service has developed to keep better track of the caseload in its Tax Exempt/Government Entities Division has failed to live up to its promises, according to a new report.

The Public Company Accounting Oversight Board plans to hold seven forums around the country to discuss auditing in the small business environment.

Accounting firm Pannell Kerr Foster of Texas has published the Entrepreneur’s Playbook, a book containing over 50 tips for small business owners.

Approximately 51.6 million tax filers paid no federal income taxes in 2008, including some families making more than $50,000.

Check out the digital edition of the March 15 issue of Accounting Today.

The Senate has passed a bill to extend unemployment benefits through the end of the year as well as a number of tax cuts that expired at the end of last year.