WebCPA Staff

The Public Company Accounting Oversight Board has issued an alert cautioning audit firms about using work performed by others outside the United States.

Businesses will be able to claim up to $8.5 billion in tax exemptions and credits for 4.5 million recently hired employees under the HIRE Act, according to a new Treasury Department report.

Jonathan Judge, president and chief executive at payroll and benefits outsourcing provider Paychex Inc., said he will leave the Rochester, N.Y.-based company effective July 31.

Cougar Mountain Software remains PCI compliant with its latest update release for the company’s Denali accounting software product line.

The Tax & Accounting business of Thomson Reuters has named Marilyn Jentzen as the new vice president of sales and marketing of ONESOURCE Property Tax.

Intuit plans to host its “Path to Productivity” virtual conference later this month featuring advice on running Intuit’s accounting and tax products more efficiently.

A Los Angeles jury has awarded actor Don Johnson $23.2 million in damages after he sued a Hollywood production company that claimed his long-running TV series “Nash Bridges” never generated a profit.

PricewaterhouseCoopers said the Financial Accounting Standards Board and the International Accounting Standards Board should slow down the pace of their standard-setting work, even though the two boards have recently extended the timeline for exposing new standards to the public.

The Internal Revenue Service has opened a special telephone line for taxpayers affected by the Gulf of Mexico oil spill.

The IRS Oversight Board has improved its internal financial management, but more needs to be done, according to a new government report.

Accounting and consulting firm Rehmann has closed its acquisition of Veritas Global, a firm that provides corporate investigative services and business intelligence.

Shane Garbutt, a former inspections leader of the Public Company Accounting Oversight Board, has joined MaloneBailey as an audit partner.

WithumSmith+Brown has promoted four senior managers to partner level, effective July 1.

A former IRS revenue officer has been sentenced to nearly three-and-a-half years in prison for filing false tax returns through the tax prep business he operated after leaving the IRS.

SurePrep has added 1120, 1120S and 1065 preparation as a part of its outsourcing service, allowing firms to leverage the company’s technology and staff to prepare more types of tax returns.

An SEC administrative law judge has issued an initial opinion ordering Gilman Ciocia CEO Michael P. Ryan and chief compliance officer Rose M. Rudden to each pay a civil monetary penalty of $65,000 after one of the firm’s units misrepresented the variable annuities marketed to senior citizens in South Florida.

The American Institute of CPAs has published a free career development guide to help CPAs and other financial professionals obtain federal economic stimulus grants for training and certifications to increase their job prospects.

The Securities and Exchange Commission has suspended a CPA who was the former senior treasury manager and assistant treasurer at Peregrine Systems, a California enterprise management software company that was charged in 2003 with massive financial fraud.

H&R Block’s board has appointed Alan M. Bennett as its new president and CEO after Russ Smyth resigned to become CEO of a “large private company headquartered in his hometown of Chicago,” according to Block.

Small business owners’ economic confidence leveled off in June, halting a two-month rise, according to a new survey.