The Latest

The Internal Revenue Service faced challenges last tax season verifying taxpayers’ eligibility for some of the newer stimulus-related tax credits, allowing 125,762 individuals to receive nearly $111.4 million in erroneous Recovery Act-related tax benefits, according to a new government report.

The Internal Revenue Service said the cost-of-living adjustments affecting the dollar limitations for pension plans and other retirement- related items for tax year 2011 will mostly remain unchanged, except for a few small inflation adjustments.

CCH has begun publishing some of its most popular accounting and tax books as eBooks, allowing readers to be able to store them on desktop and laptop computers, as well as Apple iPads and iPhones.

Corporate executives are getting ready to move to International Financial Reporting Standards, but say they probably won’t do it until the Securities and Exchange Commission mandates it, even if an early adoption option is allowed, according to a new survey.

Wilson-Taylor Associates, Inc., the firm that released the inaugural report of the Accounting MOVE Project, which measures and supports the advancement of women at public accounting firms, is looking for firms to participate in their sophomore effort – one that will focus on Gen Y women, the partnership pipeline and measurement strategies.

IMGCAP(1)]Small business is said to be the lifeblood of the nation’s economy.

Rob Lutts, the president and chief investment officer of Cabot Money Management, visited the offices a few days ago to talk about why he thinks investors are being too cautious these days.

Small business economic confidence rebounded in October as more small business owners reported that economic conditions for their businesses and for the country have improved, according to a new poll that also found small business owners favoring a Republican-controlled Congress in the midterm elections.

The number of small business bankruptcies has dropped for the fifth consecutive quarter, according to a new study.

The Internal Revenue Service has started accepting taxpayer records in electronic format from small businesses using Intuit’s QuickBooks and Sage’s Peachtree accounting software for audits and examinations.