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Legend has it that when an executive's wife unpacked herhusband's suitcase after a long business trip, she discovered a pair of frillyunmentionables hidden securely under his shirts that were decidedly not hers.

The controversy over the community-organizing group ACORN is widening as the Treasury Department’s Inspector General for Tax Administration has agreed to investigate the political activities of some of the group’s tax-exempt affiliates.

A New Jersey man has pleaded guilty to failing to report $6.1 million that he had hidden in secret Swiss bank accounts.

The Internal Revenue Service has agreed to extend until the end of the year a grace period for collecting penalties from small businesses accused of engaging in certain types of tax shelters.

Professional boxer Floyd “Money” Mayweather, Jr., has agreed to pay the IRS $5.6 million in back taxes to avoid having federal officials take the money from his winnings in a welterweight bout.

The American Institute of CPAs has scheduled Jan. 1, 2011 as the official launch date of CBT-e, a more technologically modern version of the Uniform CPA Examination.

It’s always good to give back and get involved. Not to mention, get out of the office once in a while.

Among the revenue proposals detailed in the administration’s fiscal 2010 budget are some provisions that might negatively affect small businesses and tax preparers. The American Institute of CPAs has weighed in on a number of these, including the codification of the economic substance doctrine, information reporting on payments to corporations, increasing the level of the information penalties, and expanding the requirement for electronic filing by return preparers.

Many accounting firms are doing a good job of following new standards for conducting risk-based audits of internal controls, but others are not applying the standards properly, according to a new report by the Public Company Accounting Oversight Board.

Crowe Horwath International has appointed Crowe Horwath RCS as its new member firm in Brazil and selected WanLongAsia as its lead firm in China.