The Latest

The Senate passed an amendment to the compromise housing bill that will allow money-losing businesses to elect to use accumulated alternative minimum tax credits and research and development credits early.

The Internal Revenue Service has been getting an average of more than 50,000 extra phone calls per day as a result of questions about the economic stimulus payment, and has received 379,000 tax returns from individuals filing solely to receive the stimulus payment.

Approximately four out of 10 American adults are postponing making major life decisions either because they haven't saved enough money or they're worried about the U.S. economy, according to a recent poll conducted for the American Institute of CPAs by Harris Interactive.

Value-added reseller Net@Work has acquired Integral Computer Services and Brian Shube Consulting, expanding its Sage Software enterprise resource planning, customer relationship management and accounting practices.

The Internal Revenue Service said it would open many of its offices for another Saturday to help taxpayers who don't normally file tax returns receive their economic stimulus payments.

Frans Samyn was appointed chief executive of BDO International in October 2002, having been managing partner for the previous 23 years of the Belgian BDO member firm, now known as BDO Atrio. Educated in Belgium, the U.S. and the Netherlands, Samyn is proficient in five languages. He will step down in September 2008 when his term comes to an end. BDO has appointed Jeremy Newman, managing partner at U.K. member BDO Stoy Hayward, to take over effective October 1. However, Samyn is still in charge at the firm's global coordination office in Brussels. BDO International is the fifth-largest accounting network in the world and includes member firm BDO Seidman in the U.S. Samyn sat down recently to discuss recent trends in the accounting profession with WebCPA.

Cain to Chair Leading Edge Alliance

While in college I read an article that detailed the trial of an estranged husband who was accused of stabbing his soon-to-be ex-wife to death.

A Cambodian-American tax preparer and accountant from Long Beach, Calif., went on trial in a Los Angeles federal court for plotting to take over Cambodia with a group of freedom fighters.

Lisa Hrizco Blechman of Santa Clarita Valley, Calif., apologized at her sentencing hearing for trying to sick her two dogs on an IRS employee who taped a summons on her front door.