WebCPA Staff

House Democrats unveiled their health care reform package after assembling the various components passed this summer by three separate committees.

The House overwhelmingly approved legislation to reform small business lending and spur job creation.

The Justice Department has filed seven lawsuits around the country to stop a massive tax refund fraud scheme based on claims of large tax withholding.

The Treasury Department’s Inspector General for Tax Administration said the Internal Revenue Service should increase the effectiveness of its contract oversight.

Arkansas accounting firms Frost PLLC and Ervin & Co. plan to combine forces.

Seventy-one percent of U.S. CFOs and senior comptrollers surveyed by Grant Thornton believe that the Financial Accounting Standards Board should set U.S. accounting standards, instead of the International Accounting Standards Board, the Securities and Exchange Commission or Congress.

Thomson Reuters has joined with Palo Alto, Calif.-based Bill.com to offer accountants using Thomson’s CS Professional Suite software a way to handle bill payment workflow online and help clients stay organized.

Raymond James Financial Services is increasing the minimum level of assets under management that it requires new registered investment advisors affiliated with its Investment Advisors Division to hold, from $30 million to $50 million.

Treasury Secretary Tim Geithner and Housing and Urban Development Secretary Shaun Donovan have called on Congress to extend the First-Time Homebuyers Tax Credit past its Dec. 1 expiration date, while putting in place strong anti-fraud measures.

Payouts now in the works to the former clients of Ponzi schemer Bernard Madoff have reached $534.25 million.

The IRS’s Information Reporting Program Advisory Committee has released a report outlining recommendations on a wide range of tax administration issues, including creating new forms and instructions, and reporting of a customer’s basis in securities transactions.

The American Institute of CPAs has presented David Lifson, former president of the New York State Society of CPAs, with its Arthur J. Dixon Memorial Award.

Intuit has issued an advisory warning of a security problem in some versions of its QuickBooks software that could allow hackers to access a user’s computer.

CCH plans to enhance its IntelliConnect research service with new filtering and interface features.

Accounting firm Citrin Cooperman plans to merge in Carrow Doyle & Associates at the beginning of November, expanding the New York-based firm’s presence in Pennsylvania.

Automatic enrollment for employees in 401(k) plans appears to significantly increase participation, but may not be suitable for all retirement plan sponsors, according to a new government report.

Nearly half of financial professionals think that the current recession will be characterized by another large economic dip, and 74 percent see the recovery taking at least until mid-2010, according to a new poll.

BDO Seidman has re-elected one of its board members and added two new directors.

Democratic leaders of key House and Senate committees have introduced legislation to force foreign financial institutions, trusts and corporations to provide information about their U.S. account holders, grantors and owners.

IRS Commissioner Douglas Shulman told a gathering of CPAs that he had heard their concerns about the IRS requiring extra testing of CPAs who prepare taxes, and announced that the IRS would be expanding its probe of overseas income while targeting new enforcement efforts at high-wealth individuals.