WebCPA Staff

Toy industry executive Jeffrey P. Chernick has pleaded guilty to charges of filing a false tax return, the third U.S. client of Swiss bank UBS to plead guilty to tax charges.

National Society of Accountants president James H. Nolen testified at an Internal Revenue Service hearing that his group supports the registration of tax preparers, penalties for non-registrants and continuing education requirements.

The U.S. Small Business Administration needs to take additional steps to reform its disaster loan program and improve the application process, recommends a new report.

Thomson Reuters’ Tax & Accounting business has added the Financial Accounting Standards Board’s Codification of GAAP standards to its Checkpoint service.

The Internal Revenue Service plans to issue guidance on the taxation of “fails charges” for failed deliveries of U.S. Treasuries.

With back-to-school season fast approaching and the holiday shopping season not far behind, retail suppliers and other small to midsized businesses should take steps to develop refinancing strategies for their trade credit and other loans to ensure that they have adequate liquidity, according to Grant Thornton LLP’s Corporate Advisory and Restructuring Services.

The Internal Revenue Service has prosecuted a tax preparer who used the First-Time Homebuyer Credit in a fraud scheme that appears to be an increasing trend.

Touro College’s Graduate School of Business intends to offer for the first time a Master of Science degree in accounting this September.

SunGard and iShares are partnering on a system that will allow advisors and third-party administrators to incorporate exchange-traded funds as a standard option in retirement plans.

A new downloadable e-book aims to help CPAs, business owners, personal financial planners, and insurance consultants assess and modify their estate and financial planning to adjust to a volatile market.

House Committee on Small Business chairwoman Nydia Velázquez, D-N.Y., has written to the chairmen of two other House committees asking for changes in health care reform legislation to reduce the burden on small businesses.

Chicago-area CPA firm Mueller & Co. LLP has successfully completed an independent peer review of its accounting and auditing practice.

The Public Company Accounting Oversight Board has voted to adopt a new auditing standard on engagement quality review and to issue a concept release on requiring the engagement partner to sign the audit report.

A nonprofit foundation run by Harvard professor Henry Louis Gates Jr. is filing an amended 2007 tax return after it was found to have mischaracterized $11,000 in payments to officials as research grants.

The Financial Crisis Advisory Group has published a report concluding that accounting standards are not to blame for the economic crisis.

CCH has integrated its CorpSystem Sales Tax Office product with Microsoft Dynamics Nav.

Actor and retired professional wrestler “Stone Cold” Steve Austin has been body-slammed by California tax authorities with a $22,000 tax lien.

An IRS contractor billed the agency $782,000 in dubious labor and travel charges between 2001 and 2006, according to a report by the Treasury Inspector General for Tax Administration.

PDI Global has created an e-mail alert program that provides firms with news to send to their clients about tax and accounting changes.

The Internal Revenue Service wants ordinary taxpayers to offer suggestions on how to improve tax preparer performance.