WebCPA Staff

A report from the Treasury Department’s Inspector General for Tax Administration recommends that the IRS adopt a centralized approach to crack down on fraud at nonprofit organizations.

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BDO Seidman has selected Lee Graul to succeed the late Ben Neuhausen as the firm’s national director of accounting.

The House Small Business Committee heard testimony from small business owners about their ability to obtain SBA-backed financing.

CCH has enhanced its Tax Zone Locator service to make it easier for tax professionals to track down and obtain location-based tax credits and incentives for clients.

The Internal Revenue Service has extended the filing deadline yet again for people to report on foreign tax accounts, giving them until June 30 of next year, but only under certain circumstances.

Tax preparer David Canales was arraigned in a San Diego federal court on an 18-count indictment charging him with mail fraud, wire fraud and tax evasion after he created checking accounts named after the IRS and the California Franchise Tax Board.

Former American International Group chairman and CEO Maurice “Hank” Greenberg and former vice chairman and CFO Howard Smith have agreed to pay $15 million and $1.5 million, respectively, to settle SEC charges that they were involved in improper accounting transactions that inflated AIG’s financial results between 2000 and 2005.

Dr. Conrad Murray, the doctor who attended Michael Jackson during his last days, is facing a $21,728 tax lien from the state of California.

The American Bankers Association is objecting to the newest proposed accounting standards for financial instruments, claiming that they would dramatically expand the use of the much-maligned mark-to-market accounting.

The International Accounting Standards Board has published a set of proposals on the classification of rights issues to clarify their accounting treatment when they are in a currency other than the issuer’s.

A former Chicago rabbi and nine others were charged in a $35 million tax fraud conspiracy, accused of filing 3,300 false tax returns in the names of federal prison inmates.

Garth Drabinsky, a theater impresario who brought “Ragtime,” “Kiss of the Spider Woman,” and a revival of “Showboat” to the Broadway stage, has been sentenced to seven years for accounting fraud.

Nonprofit and government accounting software developer AccuFund has struck partnerships with two resellers: Public Sector Group and NWBS Consulting.

The Rand Group has become a reseller of Sage’s accounting software for small and midsized businesses.

IMGCAP(1)]

Intuit has introduced an application that lets small-business owners process credit card payments on an Apple iPhone or iPod Touch, and load the transactions into QuickBooks.

The Financial Accounting Standards Board and XBRL US have completed their work in revising the XBRL U.S. GAAP Taxonomy to reflect the FASB Accounting Standards Codification that was released on July 1.

IMGCAP(1)] The National Association of State Boards of Accountancy called for independent funding of global accounting standard-setters.

NewRiver Inc. has introduced FundPoint Desktop for 529 Plans, a desktop software product designed to manage multi-layered 529 college-savings plan information.