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WASHINGTON, D.C.-About a quarter of all sole-proprietor businesses report losses on their tax returns, but many are doing so by understating their income or overstating their expenses, leading to billions of dollars in lost tax revenue, according to a new government report.

Washington, D.C.-Tax rate brackets and various tax benefits will remain unchanged or change only slightly in 2010 due to low inflation, and many pension plan limitations will remain unchanged, according to the Internal Revenue Service.

No one enjoys paying taxes. That's especially true when the tax structure is complex and convoluted. Payroll taxes often fall into this category, but perhaps the most convoluted taxes that some of your clients will have to track, compute and remit are sales and use taxes.

IMGCPA(1)] Max Bassman CPA and senior accountant at Isdaner & Company has reason to celebrate – he was selected for the Pennsylvania Institute of Public Accountants’ 40 Under 40 list.

In the early 1960s consumer advocate Ralph Nader wrote abook titled "Unsafe at Any Speed," which chronicled the frighteningresults of the Chevrolet Corvair in road accidents.

Anoowa Inc. has released its billFLO seller application programming interface for electronic invoicing for accounting system vendors, allowing invoices to automatically be imported into accounting systems.

Washington has continued to be abuzz with talk of new ways to pay for health care reform, despite the passage about a week ago of the House version of the bill.

The Securities and Exchange Commission has charged two computer programmers for helping convicted Ponzi schemer Bernard L. Madoff cover up fraud at his investment advisory firm for more than 15 years.

The Securities and Exchange Commission has appointed Paul A. Beswick as deputy chief accountant, overseeing the accounting group within the SEC’s Office of the Chief Accountant.

The IRS has decided not to assess extra employment taxes for 2004 to 2006 on FedEx for the delivery drivers that the company considers to be independent contractors.