Finance

The Senate Finance Committee wrapped up its grueling work on the health care reform bill late Thursday evening after turning back a tax-related amendment.

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.

Senate Finance Committee Chairman Max Baucus, D-Mont., has introduced his own version of long-awaited health care reform legislation, without a public option for health insurance.

Virginia Governor Tim Kaine has declared Sept. 13 to 19 to be Virginia Certified Public Accountants Week.

The Securities and Exchange Commission has released the executive summary of a report from its inspector general detailing the agency’s failures to stop Bernard Madoff from carrying out his Ponzi scheme.

The Securities and Exchange Commission is distributing more than $35 million to over 98,000 investors who were harmed by accounting fraud at Cardinal Health.

Most CPA executives do not support a major government role in health care reform, according to a new survey.

The Government Accounting Standards Board has drafted proposed standards for local government bankruptcies, and is giving interested parties until August 28 to comment.

The Treasury and Energy Departments plan to give $2.3 billion in tax credits from the Recovery Act to manufacturers of clean energy equipment.

For its final pièce-de-résistance, the Treasury Department has sent the last component of its financial regulatory reform legislative onslaught to Capitol Hill, even though lawmakers have supposedly gone home for recess.

For as long as I've been legally licensed to drive, I'veowned my share of what could easily be described as "clunker" cars.

The House Small Business Committee heard testimony from small business owners about their ability to obtain SBA-backed financing.

The push for a “lowest common denominator” set of international accounting standards, along with the failure of Sarbanes-Oxley reforms to curb last year’s financial meltdown, are among the factors contributing to the ongoing global recession, experts in corporate governance told Congress.

The Treasury and Energy Departments plan to distribute at least $3 billion for renewable energy projects to companies that agree to forgo future tax credits.

House Democrats’ proposal for a surtax on upper-income taxpayers to help pay for health insurance reform would not have a noticeable impact on small businesses, according to a new report from the advocacy group Citizens for Tax Justice.

Many shareholders would love to get a chance to vote on whether the CEO of a company whose stock price is going down the tubes deserves a raise next year.

States across the country saw their tax revenues for the first quarter of 2009 drop by a record percentage, according to a new report.

House Democrats have introduced health care legislation that would impose a surtax on upper-income taxpayers, and penalties on many small businesses that don’t provide health insurance coverage to employees.

The Obama administration has proposed legislation to Congress that would establish consistent standards for anybody who provides investment advice.

Under pressure from Congress, the Internal Revenue Service has agreed to temporarily suspend until Sept. 30 its efforts to collect penalties for some listed tax shelter transactions.