WebCPA Staff

Charles McCall, the former chairman of prescription drug distributor McKesson Corp., has been sentenced to 10 years in prison after he was convicted for his role in accounting fraud.

The majority of executives in a new survey see a need for greater clarity about the Securities and Exchange Commission’s plans for International Financial Reporting Standards, according to a new survey by KPMG.

Americans' confidence in their ability to retire appears to be stabilizing, but their preparations for retirement continue to erode, according to a new survey.

House Ways and Means Committee Chairman Sander Levin, D-Mich., and ranking member Dave Camp, R-Mich., have introduced legislation to allow taxpayers to claim charitable deductions in 2009 for Chilean earthquake relief.

Seven percent of CFOs plan to add full-time accounting and finance employees during the second quarter, the highest forecast since the first quarter of 2009, but 8 percent expect staff reductions.

The Internal Revenue Service intends to take several additional steps this tax season to help people who are having trouble meeting their tax obligations because of unemployment or other financial problems.

A California tax preparer who controlled two bank accounts with the same initials as the Internal Revenue Service and the state’s Franchise Tax Board has pleaded guilty to fraud and tax evasion.

Companies should be prepared to address accounting issues, tax increases, executive compensation, access to capital and the economic recovery at annual shareholder meetings this year, advises accounting firm BDO.

The Internal Revenue Service has issued guidance designating last month’s earthquake in Chile as a qualified disaster for federal tax purposes.

A federal appeals court has ruled that the electronic filing fees charged by Intuit, H&R Block Digital Tax Solutions, and other members of the Free File Alliance are not illegal and the IRS’s agreement with them did not violate antitrust laws.

The Congressional Budget Office has released an estimate of the budgetary effects of President Obama’s proposed budget for fiscal year 2011 and found that some of the tax cuts could add another $3 trillion to the national debt over the next 10 years.

Former rap music mogul Marion "Suge" Knight is facing a tax lien of over $6.5 million that the IRS has filed for the second time in seven years.

The Internal Revenue Service has outlined a safe harbor method to report a gain or loss for taxpayers who initiate deferred like-kind exchanges but fail to complete the exchange because a qualified intermediary defaults on its obligation to acquire and transfer the replacement property.

The Internal Revenue Service has released the 2010 update to its Allowable Living Expense Standards, which it applies to taxpayers who need to delay full payment of delinquent taxes.

The National Association of State Boards of Accountancy has signed an amended and restated computer-based testing agreement between NASBA, the American Institute of CPAs and Prometric, extending their original agreement to 2024.

The Internal Revenue Service is giving interested parties more time to submit comments on its recent proposal to require companies to disclose information about their uncertain tax positions.

Dixon Hughes PLLC has teamed up with IASeminars to provide CPAs and other financial professionals with training in International Financial Reporting Standards.

The Securities and Exchange Commission has approved a rule amendment from the Public Company Accounting Oversight Board giving the board the ability to postpone inspections of non-U.S. auditing firms for up to three years.

A CPA firm in West Palm Beach has been fielding calls from unemployed people all over Florida who have been informed by the state that they no longer qualify for unemployment benefits because they were hired by the firm, even though they weren’t.

Diana Ross is asking the town of Greenwich, Conn., “Where did our love go?” after the town overvalued the singer’s property, and her lawyer is appealing the assessment.