The Latest

A group of Democratic senators has written to IRS Commissioner Douglas Shulman expressing concerns about new requirements for expanded 1099 reporting.

Corporate performance management software provider Prophix Software announced that Dallas-based management consultants Abacist Group has joined its reselling channel to help market and sell Prophix’s products.

Many of you know, in the beginning of May, Nashville saw unprecedented rain. The sewer systems became completely full. Lakes, creeks and rivers were swollen beyond extremes. Nowhere for the water to go, the city and several residential neighborhoods began to flood.

IMGCAP(1)]In order for change to happen, people and organizations must adopt new behaviors. Most in the accounting profession admit that change is necessary, but honesty about the situation doesn't make change easy or fast. The gravity of the past is generally more compelling and less risky to many than the potential reward of the future. With this said, internal and external forces are driving change at an increasing pace.

Last week, a U.S. District Court in Massachusetts held that the federal Defense of Marriage Act is unconstitutional in preventing same-sex couples from filing joint tax returns and receiving various government benefits such as Social Security, saying it infringes on a state’s right to define marriage.

Deloitte plans to strengthen its Southwestern Ontario practice in Canada by adding 35 new colleagues through a proposed merger with Horne LLP of Burlington, Ontario.

Michigan accounting firm Doeren Mayhew is expanding to Houston by merging with TR Moore and Co.

The National Science Foundation has awarded a $150,000 Small Business Innovation Research grant to accounting record analysis software company AuditMyBooks to assess the feasibility of predicting fraud in small businesses.

The Public Company Accounting Oversight Board has issued an alert cautioning audit firms about using work performed by others outside the United States.

Businesses will be able to claim up to $8.5 billion in tax exemptions and credits for 4.5 million recently hired employees under the HIRE Act, according to a new Treasury Department report.