The Latest

California Governor Jerry Brown and Democratic lawmakers have struck a deal to close the state’s estimated $15 billion budget deficit, including provisions to force online retailers like Amazon.com to collect sales tax from customers.

The Securities and Exchange Commission has charged two former executives from a defunct California water treatment company with accounting fraud.

Open-source accounting software developer Open Systems Inc. has entered a strategic partnership with Web-based sales and use tax compliance product developer Avalara for the creation of AvaTax for OpenSystems.

Emerging Information Systems Inc., developer of NaviPlan and Profiles needs analysis and financial planning software, has become the newest affinity provider for the Financial Planning Association’s Member Advantage Program.

The California Society of CPAs bestowed its 2011 Public Service Award on Blake Christian, a CPA and partner in the Long Beach, Calif. office of Southern California firm Holthouse Carlin & Van Trigt.

Richard Caturano, an office managing partner who heads McGladrey’s Boston office, is one of the accounting industry leaders backing the push for a separate standards board for private companies.

A former client of the Swiss banks UBS AG and Wegelin & Co. has pleaded guilty to personal income tax evasion for hiding more than $26.4 million in secret bank accounts.

The Internal Revenue Service is reminding anyone who has a bank account or other financial account in a foreign country, or who has signature authority over such an account, that they may be required to report the account to the U.S. Department of the Treasury by June 30 each year.

Governments around the world are either increasing indirect taxes such as value-added taxes or introducing them for the first time.

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