Finance

A spokesman for Senate Minority Leader Mitch McConnell, R-Ken., said Senate Republicans are uniformly opposed to letting the Bush tax cuts expire for even the wealthiest taxpayers.

Washington, D.C. - The Securities and Exchange Commission is asking the public for feedback on its plans for incorporating International Financial Reporting Standards into the financial reporting system for U.S. issuers.

I'll be the first to admit that I have little patience looking for things, a trait that has annoyed my better half for nearly a quarter-century. Whether it be missing socks, a screwdriver or last month's bill from Home Depot, I usually require the use of a GPS to locate it.

Washington, D.C. - A group of Democratic senators has written to the chair of the Securities and Exchange Commission urging the SEC to require more complete and accurate corporate accounting disclosures, especially of off-balance-sheet transactions.

Washington, D.C. - The Public Company Accounting Oversight Board plans to impose more sanctions on accounting firms and managers that don't adequately supervise their staff.

Washington, D.C. - President Obama told attendees at a WhiteHouse press briefing Friday he wants an extension of middle-class tax cutsbefore negotiations begin on extending tax breaks for the wealthy.

Investor confidence in the U.S.capital markets declined slightly, but fell even more sharply for marketsoutside the U.S., according to a new survey by the Center for Audit Quality.

President Obama is proposing to expand and simplify the permanent research and experimentation tax credit, increasing the rate of the simpler form of the credit 17 percent to simplify the process for businesses.

President Obama has not yet formally unveiled his plans for stirring up the sleeping job market through business tax breaks and infrastructure spending, but his ideas are already provoking skepticism.

The former treasurer of the National Republican Congressional Committee has pleaded guilty to embezzling $844,718 from various political committees, including his own.

President Obama is scheduled to deliver a speech Wednesday in which he will reportedly propose a series of business tax cuts, along with new infrastructure spending.

The Labor Department reported Friday that non-farm payroll employment fell by 54,000 in August, largely because of government layoffs, including 114,000 temporary workers hired for the census being laid off, along with state and local government workers.

The Public Company Accounting Oversight Board has written to Congress with a draft bill that would amend the Sarbanes-Oxley Act to allow it to make its disciplinary hearings of accounting firms and auditors public.

It’s been five years since former Senator Connie Mack, then chairman of the President’s Advisory Panel on Federal Tax Reform, said the panel would “take a fresh look at the existing Tax Code and will formulate options for making the tax system simple, fair and productive.”

President Barack Obama blasted Senate Republicans for obstructing his administration’s top legislative priority: a bill providing tax cuts and a $32 billion lending fund for small businesses to spur job growth.

Vice President Joe Biden held a roundtable discussion with workers and small business owners at Pete’s New Haven Style Apizza, a local restaurant in Washington, D.C., that has benefited from the small business provisions in the Recovery Act, as he argued for passage of a bill that would provide tax breaks and a $30 billion lending fund for small businesses.

IMGCAP(1)]As more people have become aware of the tax burden and unintended consequences resulting from the provision in the health care reform law mandating expanded Form 1099 information reporting, a consensus has been building to repeal this provision. The only current debate appears to be “how?”

The Internal Revenue Service plans to do more to ensure that tax-exempt political organizations fully report their contributions and expenditures to the IRS on time, according to a new government report.

House Minority Leader John Boehner, R-Ohio, pushed for an extension of the Bush tax cuts on Tuesday, but questioned the need to pass over 70 other tax break extensions that failed to pass in the Senate in June.

The Government Accountability Office is making changes to Government Auditing Standards, commonly known as the Yellow Book.