WebCPA Staff

The Internal Revenue Service said that homeowners can deduct interest on up to $1.1 million in mortgage debt, $100,000 more than the previous limit of $1 million.

SmartExporter, a software product designed to simplify the extraction of SAP data for review and analysis, is now available from Audimation Services Inc., which provides data analysis expertise and technology to accountants, auditors and financial professionals.

John T. Pagerly has been elected CFO of Herbein + Company Inc. for a three-year term that started on Oct. 1.

The Internal Revenue Service has issued over 50,000 Preparer Tax Identification Numbers since opening its online registration system less than a month ago, but the system has experienced a number of birth pains, the IRS reported.

Two political advisors to Republican New York gubernatorial candidate Carl Paladino are in trouble with the Internal Revenue Service.

Some of the $203 million in stimulus funds provided to the Internal Revenue Service through last year’s Recovery Act are at risk of being misspent due to continued problems with contract oversight, according to a new government report.

The International Auditing and Assurance Standards Board has released new proposals for how to audit complex financial instruments such as derivatives whose trading contributed to the financial crisis.

H&R Block has signed an agreement with 2SS Holdings to acquire 2nd Story Software’s TaxAct tax preparation technology business for $287.5 million in cash.

The financial firms that suffered the greatest stock-price declines during the economic crisis tended to be those with the highest proportion of independent directors, according to a new study.

Intuit has chosen its highest-performing resellers at its ISP Summit.

Attorneys general in all 50 states have joined together to investigate widespread use of fake documents and signatures in mortgage foreclosures by lenders across the country.

For the second year in a row, the Social Security Administration is probably not going to provide a cost of living adjustment for Social Security recipients because of the low rate of inflation.

The National Federation of Independent Business’s Index of Small Business Optimism gained 0.2 points in September, rising to 89.0, but remained at recessionary levels.

Starting salaries in the accounting and finance fields are expected to rise an average of 3.1 percent in the coming year.

The Internal Revenue Service has added new lines to the Schedule M-3 for research and development costs and Section 118 exclusions.

Cohen, Doren, Addeo & Co. has joined Fazio, Mannuzza, Roche, Tankel, LaPilusa LLC, expanding Fazio Mannuzza’s presence in New Jersey to Jersey City.

More than three-quarters of companies that froze their pay over the last 18 months have lifted their pay freezes or intend to do so by the end of 2010, according to a survey of some 200 organizations.

The Securities and Exchange Commission has proposed a new rule, based on requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act, that would help those managing their own family's financial portfolios determine whether their “family offices” can continue to be excluded from the Investment Advisers Act of 1940.

The Internal Revenue Service has released a draft Form W-2 for 2011, which employers use to report wages and employee tax withholding.

The Internal Revenue Service has issued final regulations under a law change that will require reporting of basis and other information by stock brokers and mutual fund companies for most stock purchased in 2011 and all stock purchased in 2012 and later years, making it easier for investors to report their gains and losses next year on their tax returns.