The Latest

Citigroup was charged by the Securities and Exchange Commission with misleading investors about the extent of the banking giant’s exposure to subprime mortgage-related assets during 2007 and has agreed to pay a $75 million settlement.

Chris Tucker, who co-starred with Jackie Chan in the hit Rush Hour movies, is facing tax liens from the Internal Revenue Service totaling more than $11.5 million.

The House Committee on Financial Services voted to approve Internet gambling legislation, a critical step in making online gambling legal in the U.S.

SEC settlements with top companies over financial misstatements have declined since 2007, and nearly three quarters of SEC settlements with companies over misstatements are for no money, according to a group of economic consultants.

The District of Columbia has begun a tax amnesty program that waives all penalties and fees on back taxes paid by Sept. 30.

The economic downturn and an increasing number of taxpayers with complex tax issues contributed to a decline in the amount of revenue collected by the Internal Revenue Service in fiscal year 2009, according to a new government report.

The U.S. Government Accountability Office has launched a mobile version of its Web site that will allow users to more easily access GAO reports on their BlackBerries, iPhones, Droids, and other small-screen mobile devices.

Forty-seven minority accounting doctoral students are on the receiving end of $470,000 in scholarships from the KPMG Foundation for the 2010-2011 academic year. Of those 47, 12 new recipients have been named and 35 existing awards have been renewed.

IMGCAP(1)]Have internal auditors become irrelevant? Perhaps.

House Ways and Means Committee Chairman Sander Levin, D-Mich., has introduced a bill that would close tax loopholes blamed for encouraging multinational companies to ship jobs overseas.