WebCPA Staff

Now that the largest public companies in the U.S. are scheduled to begin filing their financial statements using Extensible Business Reporting Language data-tagging technology this year, financial regulators are weighing additional areas to leverage the technology, said industry representatives at an XBRL International Conference in Paris.

The IRS has posted a preview of the 1040 for 2009, along with the latest rules for electronically filing the returns.

Sage North America has introduced the latest version of its time and billing software, Timeslips by Sage 2010, with new features such as a report on clients who haven’t been billed as of a certain date.

A new survey shows backing for 401(k) plans by senior finance and human resources executives, even though many of the plans have performed poorly during the financial crisis.

Credit-rating agency Fitch Ratings said in a new report that it does not expect FASB’s recent amendments to off-balance-sheet accounting standards to result in negative rating actions, but it believes there will be challenges for issuers and analysts in transitioning to the new standards.

CPAs who also hold the AICPA’s Personal Financial Specialist credential are advising many of their high-net-worth clients to rebalance their portfolios, reassess their tax planning and control their expenses and cash flow, according to a new survey.

New research into CPA firm management will be described in a series of monthly webinars from the Bay Street Group and Capstone Marketing.

The confidence level of CFOs in the U.S. economy showed signs of improvement for the first time in over two years, even as optimism about their own companies declined, according to a new survey.

Grant Thornton LLP has named Stephen Chipman as CEO of the U.S. member firm, after a stint developing the firm’s business in China.

Intuit has awarded grants of between $10,000 and $20,000 in value to 10 tax and accounting professionals.

Despite some decreases in 2008, the IRS’s overall level of compliance activities remains higher than in the years immediately after implementation of the IRS Restructuring and Reform Act of 1998.

Former NFL quarterback Bernie Kosar has filed for bankruptcy, listing debts to the IRS and Broward County, Fla., along with debts arising from the collapse of the Florida real estate market.

Four Southern congressmen have written to the IRS asking for casualty loss deductions for homeowners whose property has been damaged by installations of defective Chinese drywall.

Nine trade groups representing the financial, insurance, banking, real estate and other industries have united to create a coalition with the goal of influencing accounting standard-setters who are working on revising the rules for financial instruments.

Liberty Tax Service, the third largest tax preparer in the U.S., has lost a lawsuit over deceptive ads that California Attorney General Jerry Brown claimed blurred the line between free tax refunds and expensive refund anticipation loans.

The Virginia Society of CPAs has selected a new chairman and board.

Retirement plan recordkeeping service provider ExpertPlan has acquired portions of ADP’s retirement plan recordkeeping business that service independent third-party administrators.

As workers experience large losses in their retirement funds, a significant number are planning to delay their retirement, according to a new survey.

Robert Allen Stanford, former chairman of the Stanford Financial Group, along with three other executives and an Antiguan bank regulator, have been indicted on fraud charges in connection with a multibillion-dollar Ponzi scheme.

A new study of accounting-related fraud in Western Europe has found substantial differences in the approach taken to International Financial Reporting Standards by different countries and companies.