Financial Planning

The Internal Revenue Service has posted a final version of the form and instructions for the 2010 gift tax and generation-skipping transfer tax.

Tax season is in full bloom and Americans are up to their elbows in statements, receipts and 1099s, but it may be a good time for people to clean up their finances while they’re doing their spring cleaning and taking their taxes to their accountants.

U.S. workers are more pessimistic about their prospects for a comfortable retirement than at any time in the past two decades, according to a new survey.

IMGCAP(1)]The recent announcement of a merger between Deutsche Boerse AG and the New York Stock Exchange leads many to believe that an acceleration of the conversion from U.S. GAAP to International Financial Reporting Standards for public companies may occur.

The U.S. Labor Department has filed suit against Parnell & Co. LLC, alleging that the South Carolina accounting firm helped itself to at least $75,000 from the employee 401(k) plan.

Recent policy changes in areas such as cost basis reporting, the Foreign Account Tax Compliance Act, and the Regulated Investment Company Modernization Act of 2010 are likely to create significant compliance, reporting and monitoring risks and consume resources as companies continue to move toward economic recovery, according to KPMG.

The American Institute of CPAs has introduced a free checklist that accountants can download, personalize and use to update clients on how the recent tax cut extension legislation may affect their estate planning.

NetBasis is offering an online tool to help investors and brokers comply with the new cost basis reporting rules.

Financial services organization Harris has launched a new Web site to go along with its new financial education program, Helping Money Make Sense.

Corporate management and boards of directors should be prepared for questions from shareholders about turmoil in the Middle East, rising energy costs and new rules in the Dodd-Frank Act during their companies’ annual general meetings this year, according to BDO USA LLP.