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States are creating fiscal risks for themselves by neglecting to control the costs of tax incentives for economic development, according to a new report from the Pew Center on the States.

The Internal Revenue Service said Thursday that low- and moderate-income workers can take steps now to save for retirement and earn a special tax credit in 2012 and the years ahead.

The Tax & Accounting business of Thomson Reuters has added multiple enhancements to its NetClient CS client portal platform that are designed more for ease of use and extending them to mobile devices..

The Internal Revenue Service has given businesses an extra year to make sure they are compliant with new rules on how to treat service charges.

Richmond, Ky.-based accounting firm Baldwin CPAs has merged with Louisville professional services firm Christopher L. Hatcher, CPA.

Blytheco director of customer and partner strategy Apryl Hansen continues her three-part series on consulting firm management with a focus on establishing a successful mission statement.

Sage North America has made available Sage 500 ERP 2013, an integrated suite of business applications that offers a variety of new features, including more Web and mobile capabilities.

KPMG International announced annual combined revenues of $23.03 billion for the fiscal year ended Sept. 30, 2012, a 4.4 percent increase in local currency terms over the previous year, and a 1.4 percent increase in U.S. dollar terms.

Republicans in Congress hardened their resistance to President Barack Obama’s proposed higher taxes for top earners and demanded a spending-cut plan, as lawmakers in both parties said it’s becoming less likely an agreement can be enacted before the Christmas holiday.

With less than 30 days left in 2012, there is still time to do some year-end tax planning. This 2012 tax year is more difficult in that no one knows how the tax laws may change before the end of the year.

Montreal-based Richter, formerly RSM Richter Chamberland, merged with Toronto-based SBLR LLP Chartered Accountants.

The International Federation of Accountants has released a revised version of its Statements of Membership Obligations, which serve as a framework for the professional accounting organizations that make up its membership, and are the basis of the IFAC Member Body Compliance Program.

The Financial Accounting Standards Board and the Center for Audit Quality issued a summary Wednesday of observations from two forums on disclosure effectiveness.

Microsoft Dynamics NAV and Serenic reseller AVF Consulting is spinning off its software development division ChargeLogic as the firm plans to predominantly focus on serving the nonprofit sector going forward.

The Small Business Services division of payroll provider ADP has created a series of tips for small-businesses and their accountants to help smooth the year-end.

Carr, Riggs & Ingram LLC welcomes five new partners: Hardy Foreman, Kathleen Hausenfluck, Amy Hightower, James Norris and Rodney Thornton.

President Barack Obama reduced his demand for tax increases to $1.4 trillion from $1.6 trillion as he and House Speaker John Boehner traded another round of offers and inched toward a budget agreement.

Billionaire investors Warren Buffett and George Soros are calling on Congress to increase the estate tax as lawmakers near a decision on tax policies that expire Dec. 31.

Former U.S. Congressman Wester Cooley was sentenced to a year and a day in prison following his guilty plea last year to hiding $494,000 in income from the Internal Revenue Service.

Technology consultant Wayne Schulz sizes up the new Samsung Galaxy Note 2 for everyday use