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One of the first, and perhaps most important, decisions a business owner initially makes is the type of business entity to select.

The House has approved by voice vote legislation permanently banning states from taxing Internet access or imposing multiple or discriminatory taxes on e-commerce.

The American Institute of CPAs has filed a federal lawsuit against the Internal Revenue Service challenging the legality of the IRS's plans for voluntary continuing education and testing of tax preparers.

The Financial Accounting Standards Board has proposed a pair of Accounting Standards Updates aimed at simplifying the process of inventory measurement and eliminating the requirements for extraordinary items.

After rebounding sharply in June from months of decline, the Accountants Confidence Index split into two directions this month, with the short-term and mid-term readings heading apart, though both remain positive.

The Internal Revenue Service has partially withdrawn some of the rules it had earlier proposed on limiting rollovers from individual retirement arrangements.

The accounting job site CollegeFrog has been renamed Accountingfly as the site adds the function of allowing accounting firms to recruit experienced employees.

A former California tax preparer was sentenced Monday to 18 months in prison after pleading guilty to charges that he filed dozens of false tax returns with the Internal Revenue Service.

Indiana has become the first state to allow competency-based education to qualify for renewal of a CPA license.

Ernst & Young has agreed to pay $4 million to settle charges brought by the Securities and Exchange Commission accusing the firm of violating auditor independence rules by lobbying congressional staff on behalf of two auditing clients.