Practice Management

A task force that has been investigating the budget crisis affecting many states across the country is calling for major changes in the ways that states handle their budgeting and financial reporting.

The Association for Accounting Marketing has named a new CEO, Jayla Boire, a marketing consultant, to run the organization after a long search process.

Abrams Little-Gill Loberfeld PC has acquired the accounting and tax practice of Andrew M. Freedman, CPA.

Wipfli LLP has added the Chicago-based practice Regulatory Compliance Associates Inc., to its roster.

H. Ty Warner, the billionaire creator of Beanie Babies plush toys, avoided a prison sentence for hiding income from U.S. tax collectors in a Swiss bank account.

Business intelligence company iLumen announced that is offering free accountant access to its Client Diagnostic Report from now until June.

The former secretary to Imelda Marcos, the one-time First Lady of the Philippines, has been sentenced to serve between two and six years in prison for tax evasion and ordered to pay the State of New York $3.5 million in taxes after she was accused of stealing and illegally selling a painting by the French Impressionist master Claude Monet for $28 million.

A New York City tax preparer has been convicted of stealing tax refunds using stolen identities and adding false dependents to his clients’ tax returns.

Senator Marco Rubio, R-Fla., plans to introduce legislation that would provide a replacement for the Earned Income Tax Credit in the form of a “wage enhancement.”

The head of the union representing Internal Revenue Service employees is warning about persistent underfunding of the Internal Revenue Service in the omnibus spending bill unveiled yesterday by congressional negotiators.