WebCPA Staff

The Internal Revenue Service has released guidance on the expanded adoption credit that is available for tax year 2010 as a result of the Affordable Care Act, along with a draft version of the form that taxpayers will use to claim it.

The Public Company Accounting Oversight Board has released a report summarizing the types of problems its inspectors encountered at auditing firms in the wake of the economic crisis.

Super-regional CPA and business advisory firm BKD has launched www.financialreforminsights.com, an interactive portal to help guide financial institutions through the sweeping regulations under legislation such as the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Sixty percent of high net worth individuals say they will never retire, according to a new survey that has spotted a trend of the “nevertiree.”

Cloud-based sales tax automation provider SpeedTax has integrated with NetSuite, allowing users to automate their sales and use tax compliance and management processes.

Senate Republicans blocked a bill on Tuesday that would have denied tax breaks to companies that move jobs offshore and provide companies with a two-year holiday from their share of Social Security payroll tax withholding for each employee they hire to replace a worker at a foreign-based facility.

The Securities and Exchange Commission has obtained an asset freeze order against the assistant controller of a Utah medical technology company, accusing him of transferring funds out of the company’s operating account into an account he controls as a CPA.

The Internal Revenue Service has issued final regulations requiring paid tax return preparers to register with the IRS to obtain a Preparer Tax Identification Number and made available a new online application system for getting a PTIN.

The Institute of Chartered Accountants in England and Wales has told the U.S. Financial Accounting Standards Board that FASB’s proposed rules for financial instruments accounting would make financial statements harder to understand and complicate the convergence process.

CPA and business advisory firm RubinBrown has formed a new client niche, Life Sciences Services Group, and appointed Felicia Malter, CPA, as partner-in-charge.

The Certified Financial Planner Board of Standards has revoked deported Russian spy Cynthia Murphy’s right to use the CFP credential.

The Financial Accounting Standards Board and the International Accounting Standards Board have completed the first phase of a joint project to develop an improved conceptual framework for future accounting standards.

The Senate debated a bill on Monday that would give companies a two-year holiday from their share of Social Security payroll withholding for each employee they hire to replace a worker at a foreign-based facility.

Upticks in payroll and human resources revenue helped payroll and benefits outsourcing provider Paychex Inc., post a 7 percent rise in first-quarter profits to $132 million, versus the results of last year’s first quarter for the period ended August 31.

Florida accounting firms Saltmarsh, Cleaveland & Gund and Stogniew & Associates are combining, effective Oct. 1.

President Obama signed the Small Business Jobs Act into law on Monday, providing $12 billion in tax breaks and a $30 billion lending fund for small businesses.

The Internal Revenue Service said that individuals and businesses will no longer receive paper income tax packages in the mail.

A Kansas company has created a national online marketplace for matching buyers and sellers of transferable state tax credits.

Michigan accounting firms Lewis & Knopf CPAs PC, and Thomas R. Haggerty CPA PC have combined forces.

Senate Democrats plan to hold a vote on the Bush tax cuts extension soon after the mid-term election in November, congressional leaders indicated.