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The Chicago office of global consulting firm Protiviti awarded two local students with renewable $5,000 college scholarships, funded through employee contributions to the firm’s CommUnity Scholarship Program.

The business manager for Prince Rogers Nelson, the recording artist known as Prince, said her client will respond to a request from the U.S. Internal Revenue Service for tax information.

RedGear Technologies, developer of TaxWorks professional tax software, and marketer Business Owners Advandage have launched an affiliate program for tax professionals to offer Deductr -- automated expense tracking tool for taxpayers.

UNIT4, the global business software group, today announced it will merge its two North American business operations - UNIT4 Business Software and UNIT4 Coda - effective January 1, 2013.

The Senate Permanent Subcommittee on Investigations held a hearing on offshore profit shifting and the U.S. tax code, examining in particular the practices of Microsoft and Hewlett-Packard, while questioning an Ernst & Young tax partner who services HP.

Congress’s two tax-writing committees, the House Ways and Means Committee and the Senate Finance Committee, held a joint hearing Thursday to discuss capital gains taxes and how they might be reformed.

Government debt hit a record $16 trillion last week, accompanied by the usual calls for tax increases to help plug the gap between revenue and expenditures. But for those who believe that the way out of our deficit includes raising taxes, there’s a cautionary study that suggests otherwise.

California Governor Jerry Brown signed a law Thursday allowing CPAs from outside California to practice across state lines without needing additional licenses.

Senate Majority Leader Harry Reid predicted that Congress will reach a deal after the Nov. 6 election to avert hundreds of billions of dollars in tax increases and spending cuts known as the “fiscal cliff” set to begin in January.

The Ohio Society of CPAs has introduced a new community college-targeted program titled ASPIRE!, which joins the OSCPA’s annual Accounting Careers Awareness Program in the society’s mission to fill the business need for future CPAs.