The Latest

A new study by the Federal Reserve Bank of New York found that many small businesses are still being denied access to credit by lenders.

A Buffalo, N.Y., pizzeria owner who failed to pay New York State over $100,000 in sales taxes has been ordered by a judge to deliver 12 free pies a week to a local charity that serves the poor.

The Internal Revenue Service is opening the proverbial Al Capone vault on its income tax statistics, stretching back nearly a century.

An Internal Revenue Service advisory committee has issued a report calling for a number of changes in the IRS’s information reporting rules, including the controversial provision in the health care reform bill that mandates expanded 1099 information reporting for businesses.

The tax debt relief industry is searching for loopholes in a Federal Trade Commission rule that could eliminate its main source of revenue.

A pair of U.S. senators has written to IRS Commissioner Douglas Shulman and the heads of a dozen other federal agencies asking why they have erected roadblocks to investigative efforts of their agencies’ watchdogs, their inspectors general.

The National Association of Chain Drug Stores has sent a letter to the Internal Revenue Service asking it to delay rules implementing provisions in the health care reform bill that would prohibit the use of debit cards, such as those used in flexible spending accounts and health reimbursement accounts, to buy over-the-counter prescribed medications.

On the last day of the American Institute of CPAs Fall Meeting of Council, members elected a new chairman and adopted a resolution supporting the Blue Ribbon Panel on Standard Setting for Private Companies.

IMGCAP(1)] If you look at the history of any firm that dominates a niche market, you will often find one or two people who became the famous “go-to” people in that industry. Everyone in the industry knows that when you have certain kinds of problems, you “go to” this certain person. The go-to person is quoted in the press about the industry, asked to speak at industry events and has a high profile with local and national associations.

Legendary economist Milton Friedman once joked that you could take any three letters from the alphabet, scramble them in any order you want, and you'll end up with an acronym for a federal agency we could do without.