WebCPA Staff

The leader of a trade association representing the equipment finance sector criticized the new accounting standards for leasing contracts proposed by the Financial Accounting Standards Board and the International Accounting Standards Board this week.

The Congressional Budget Office estimated that the federal budget deficit for 2010 will exceed $1.3 trillion—$71 billion below last year's total and $27 billion lower than the amount that CBO projected in March 2010, when it issued its previous estimate, but that projection is predicated on the Bush tax cuts and other tax breaks expiring.

An Internal Revenue Service agent has pleaded guilty in a federal court in St. Paul, Minn., to soliciting and receiving a $9,700 bribe.

Walter Timoshenko has been named chief operating officer at accounting and consulting firm Nussbaum Yates Berg Klein & Wolpow LLP.

Rothstein Kass has appointed Camille Asaro, Frank Attalla, Jeff Kollin and Navin Sethi as principals at the international professional services firm.

The Internal Revenue Service issued proposed regulations on Thursday to significantly increase the number of electronic transactions between taxpayers and the federal government.

The Internal Revenue Service has fitted out a plus-size tax lien of $63,487 for supermodel Naomi Campbell.

Sage North America’s Sage Accountants Network members can now earn certification on Sage Peachtree, whereby they can enhance their product knowledge and earn CPE credits.

The Internal Revenue Service said Thursday that its new online application system for compensated tax return preparers is expected to go live in mid-September, and that the fee will total $64.25 to receive a Preparer Tax Identification Number.

Golden Gate University plans to offer a forensic accounting certificate completely online in the fall semester.

The Internal Revenue Service has released an updated Form 720, the Quarterly Federal Excise Tax Return, to reflect the new 10 percent excise tax on indoor tanning salons in the health care reform bill.

Banks have begun to loosen their lending standards for the first time since 2006, according to a new survey by the Federal Reserve.

A former Ernst & Young partner has settled insider trading charges after he was accused of tipping off his stockbroker girlfriend about at least seven different acquisition targets that happened to be his firm’s clients.

Congresswoman Shelley Berkley, D-Nev., has introduced legislation that would provide additional assistance for workers who have exhausted their unemployment insurance and are living in states like Nevada with elevated unemployment rates.

A new study finds that investors are not only skeptical of upbeat financial forecasts from the management at public companies, but they often believe downbeat forecasts are overly optimistic and less credible than positive news about the company’s outlook.

A federal appeals court has ruled against New York City in its bid to collect about $47 million in property taxes from two foreign governments that have been using parts of their United Nations missions for non-diplomatic purposes.

The Certified Financial Planner Board of Standards has hired a group of agencies to lead a branding and public awareness campaign to raise the profile of the board.

Americans continued to show concern about the state of the economy and their personal finances in August, according to a new survey that found feelings of financial security once again on the decline.

A former manager at Jackson Hewitt has admitted to falsifying more than 52 tax returns.

Only 45.3 percent of organizations conduct even limited reviews of the appropriateness of their executive compensation and benefit programs, according to a new survey by the Institute of Internal Auditors.