WebCPA Staff

Senate Majority Leader Harry Reid, D-Nev., introduced the Senate’s version of the health care reform bill, which includes a new 5 percent tax on elective cosmetic surgery.

A new survey of corporate accountants found that 46 percent said their company could do more to prepare for recovery and another 8 percent believe their company is poorly prepared for recovery.

Approximately 203,000 taxpayers erroneously claimed a total of over $300 million in Hope Credits for higher education in 2006, and over 169,000 claimed over $232 million in credits, according to a new report by the Treasury Inspector General for Tax Administration.

Universal Business Computing Company has added an automated clearing house tax payments feature to its payroll service bureau program.

Former International Accounting Standards Board Vice Chairman Tom Jones has been appointed director of Pace University’s Center for the Study of International Accounting Standards.

Market research firm IDC has recognized Intuit’s work with IBM on the Smart Business Platform as part of its first SMB Excellence Awards.

Former teen idol Aaron Carter reportedly owes the Internal Revenue Service more than $1 million in back taxes.

The Institute of Management Accountants has released a set of tips to help small business managers with their planning and budgeting.

A Web service that matches small businesses with accountants is expanding into nine new markets.

Internet retailer Overstock.com has dismissed Grant Thornton as its auditor and opted to file an unaudited version of its third-quarter financials.

Financial services conglomerate Goldman Sachs said it will launch a program that will earmark $500 million to assist the small-business community.

The Treasury Department and the Small Business Administration convened a Small Business Financing Forum in which they discussed ways to expand credit to small business.

WorkingPoint, a company that develops online software for small businesses, has added new features to make it easier for its customers prepare their 2009 tax returns.

The Securities and Exchange Commission has charged four individuals and two companies who persuaded more than 300 investors nationwide to participate in purported environmentally friendly investment opportunities that the SEC says were actually part of a $30 million Ponzi scheme.

Over 14,700 holders of foreign bank accounts told the Internal Revenue Service about the existence of the accounts under a voluntary disclosure program.

Consulting firm Capco has introduced a North American Wealth and Investment Management Group to help build the wealth and investment management capabilities of various types of financial firms.

Crowe Horwath partner Mark Hildebrand has been named to the board of directors of the American Institute of CPAs.

President Obama has established an interagency Financial Fraud Enforcement Task Force that will work with state and local authorities to investigate and prosecute significant financial crimes.

Intuit Inc. is providing a free conversion tool to small businesses affected by the discontinuation of Microsoft Office Accounting.

A bipartisan bill introduced in the Senate and House would reduce the penalties assessed by the IRS on tax shelter investments by small businesses to put them in proportion with the tax benefits received.