WebCPA Staff

The Securities and Exchange Commission has obtained an asset freeze against a Jacksonville, Fla.-based retirement benefits consulting firm that defrauded active and retired government employees and law enforcement agents nationwide through a Ponzi scheme that promised them safe investments.

Sage North America has expanded its line of construction industry software with the introduction of Sage Timberline Enterprise.

After the Senate failed three times last week to pass the mammoth tax extenders and unemployment benefits extension bill last week, the House and Senate have introduced stand-alone bills to extend unemployment benefits.

The Financial Accounting Standards Board and the International Accounting Standards Board have issued exposure drafts proposing changes in the standards for fair value measurement and disclosure in U.S. GAAP and International Financial Reporting Standards.

Small businesses with fewer than 20 employees added 18,000 jobs to their payrolls this month, according to payroll figures from Intuit.

Rap singer Method Man, a member of the Wu-Tang Clan hip-hop group, has entered a guilty plea to New York State tax evasion charges.

A dentist who owned a company that specialized in financial planning and aggressive tax management for medical professionals was found guilty of two felony counts of filing false tax returns after he claimed a charitable deduction for donating $800,000 in stock to his own nonprofit foundation.

The Governmental Accounting Standards Board has updated its standards for the reporting of certain financial instruments and external investment pools by government entities.

Payroll and benefits outsourcing concern Paychex Inc. has launched Paychex HR Solutions, a blended services offering that merges the features of its Paychex Business Solutions and Paychex Premier Human Resources options.

A California man who fraudulently received stock as compensation from American Fire Retardant Corporation and subsequently sold the stock, was sentenced Monday morning to 18 months in federal prison after being convicted of conspiracy and subscribing to a false tax return.

Attorneys for Wesley Snipes are requesting a new trial for the actor on tax charges after a key prosecution witness was arrested on fraud charges.

H&R Block reported a decline in its fiscal 2010 net income, attributing it to a drop in its tax season business as a result of the economy, while its rival Jackson Hewitt reported that it had received a warning about its listing on the NYSE, also brought on by tax season problems.

The International Federation of Accountants has written an open letter to the G-20 nations in advance of this weekend’s summit in Toronto calling on governments to fix public sector accounting.

Unit4 introduced Vita Cloud Angel, a new subscription-based deployment offering for customers of its cloud computing-based enterprise resource planning software, Agresso Business World.

The Institute of Internal Auditors has released new guidance to help internal auditors assess the risks related to spreadsheets, databases and information systems in their organizations.

Senate Democrats may be forced to set aside tax extenders and unemployment benefits legislation after they were unable to overcome a Republican-led filibuster for the third time.

A House and Senate conference committee has put the finishing touches to the financial regulatory reform bill.

The American Institute of CPAs has developed a new guide to help CPAs comply with new engagement letter requirements.

The Internal Revenue Service has issued guidance to individuals and businesses affected by the oil spill in the Gulf of Mexico and announced new efforts to help affected taxpayers, including a special Gulf Coast Assistance Day on July 17.

National CPA and business advisory firm RSM McGladrey has signed a letter of intent to acquire Caturano & Co., the top regional firm in New England.