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New York Governor Andrew Cuomo said Wednesday that 40 tax preparers across the state have been suspended by the state tax department under new regulations requiring them to file their own taxes.

Private sector employers added 218,000 jobs in July in a further sign of the rebounding economy, although the pace of job growth slackened from last month, according to the latest national employment report from payroll giant ADP.

Highlights of some of our favorite tax-related blogs from the past week.

A pair of Democratic lawmakers have introduced a bill that would provide tax relief to student loan borrowers who have been granted debt relief after consistently repaying their student loan debt for at least 20 years, giving them an exemption from being taxed on the amount forgiven on the loans.

Three areas will be key for small and midsized businesses, according to Sage president and CEO Pascal Houillon, who shared his technology forecast for that sector during the Sage Summit 2014 keynote.

Sage North America announced the general availability of Sage 300 Online, a full business management solution designed to help give small and midsized businesses a more complete picture of their operations.

Withdrawals from individual retirement accounts tend to be driven largely by people who are 70-½ or more, according to new research.

Corporate America is at a tipping point. According to an IDC report, the digital universe is doubling in size every two years and will reach 44 trillion gigabytes by 2020. Simultaneously, according to the Information Economics Assessment Kit published by CGOC (Compliance, Governance and Oversight Council), while the value of aging data decreases rapidly over time, the cost to manage it remains constant, creating an ever-increasing expense.

Tobacco makers were able to avoid paying billions of dollars in federal excise taxes by reclassifying their “roll-your-own” tobacco products as pipe tobacco, and small cigars as large cigars, according to a new government report and witnesses at a Senate hearing Tuesday.

Intuit announced that Marc Andreesen and Arianna Huffington will join the line-up of speakers for its QuickBooks Connect conference Oct. 21-23 in San Jose, Calif.

Reeling from a series of budget cuts in recent years, the Internal Revenue Service has slashed the customer service functions at its walk-in offices, but did not evaluate the potential impact of reducing or eliminating key services at 386 Taxpayer Assistance Centers prior to implementing changes at those locations, according to a new government report.

Payroll processor Paychex and the research firm HIS reported an increase in small business employment in July, with states like Washington and Michigan leading the way.

Rising education costs mean clients can’t pass these up

The Internal Revenue Service is being pressed to provide more awareness of tax breaks for victims and survivors of terrorist attacks such as 9/11, including first responders.

The American Institute of CPAs’ Auditing Standards Board has amended its standards for providing so-called “comfort letters” to underwriters and other parties requesting such letters.

While it is inevitable that a firm or company will eventually age and die, it is the responsibility of the managing partner or CEO to ensure that the firm or company remains viable.

The IRS Return Preparer Office plans to mail letters this week to approximately 5,000 preparers who are doing returns without valid PTINs.

The scheduled depletion date for Social Security’s Disability Insurance Trust Fund is only two years away, in late 2016, according to a new government report.

Crowe Horwath LLP has announced the sale of its subsidiary, Creative Financial Staffing, to its employees through an employee stock ownership plan.

Approximately 83,000 employees and contractors who work for the Department of Defense, and are eligible for a security clearance, owe more than $730 million in unpaid federal taxes, according to a new government report.