WebCPA Staff

The Internal Revenue Service has set Wednesday, Sept. 2, as the second date in a series of public forums to discuss performance standards for tax preparers.

Accounting and financial services provider LECG plans to merge with Smart Business Advisory & Consulting in a deal valued at $25 million in cash and $39.9 million in stock.

IRS Commissioner Douglas Shulman has been chosen as the new chairman of the Organization for Economic Cooperation and Development’s Forum on Tax Administration.

IRS Commissioner Douglas Shulman has been chosen as the new chairman of the Organization for Economic Cooperation and Development’s Forum on Tax Administration.

The U.S. International Qualifications Appraisal Board and the New Zealand Institute of Chartered Accountants have entered into a five-year mutual recognition agreement that establishes the basis for reciprocity between the U.S. and New Zealand accounting professions.

The growth of fees began to level off at CPA firms across the country late last year after a remarkable six-year run as the financial crisis finally hit home.

A federal court in Seattle has permanently barred a prison inmate from promoting a tax avoidance scheme that attracted over 44,000 customers and earned over $50 million.

Almost two-thirds of companies in a recent survey by Ernst & Young say they do not plan to commit more resources to risk management over the next 12 to 24 months, despite the problems uncovered by the financial crisis.

Sage Software reseller Blytheco has acquired the MAS 90, MAS 200 and MAS 500 practice from BDO Seidman subsidiary Synergistic Software Solutions.

A California man has agreed to plead guilty to a scheme to move over $1 million into secret Swiss bank accounts at UBS via a fake business the bank helped him set up in Hong Kong.

The SEC has approved rules requiring public accounting firms registered with the Public Company Accounting Oversight Board to report events such as legal proceedings and changes in a firm’s contact information within 30 days to the PCAOB, as well as file annual reports on disciplinary matters and other issues.

Online personal finance and budgeting site Mint.com has raised $14 million in its third round of venture capital funding, joining Bill.com, which raised $8.5 million earlier this month.

The Government Accounting Standards Board has drafted proposed standards for local government bankruptcies, and is giving interested parties until August 28 to comment.

The Financial Accounting Standards Board may expand the use of mark-to-market accounting to the loans held by banks.

In a decision that could have major implications for accountant work-product privileges, a federal appeals court has reversed a lower court decision and ordered aerospace and defense contractor Textron to hand over tax accrual work papers to the IRS as part of an investigation of tax shelters.

Accounting firm M&A specialist Allan Koltin predicts a “mega-merger” will take place within the profession before the end of the year.

Accounting firm Marcum LLP plans to merge with Margolis & Co., a 70-person CPA firm based in the Philadelphia area, expanding Marcum’s reach across the East Coast.

The Treasury and Energy Departments plan to give $2.3 billion in tax credits from the Recovery Act to manufacturers of clean energy equipment.

The American Institute of CPAs has published a report on the reliability and independence of CPAs, as seen from the perspective of commercial bankers.

The American Bankers Association has released a letter and white paper raising concerns over the process taken by the Financial Accounting Standards Board and the International Accounting Standards Board in their financial instruments projects.