Southern California lender Valley Economic Development Center said it has received a $16 million infusion after it almost ran out of money to lend to small businesses.

The U.S. Small Business Administration plans to expand its Emerging 200 initiative, which supports inner-city small businesses, to five more cities in the spring.

Payroll-processing giant ADP reported that private sector employment fell by 693,000 in December.

There’s nothing like a good clear financial statement. And in a time when lenders are very stingy, those basic reports are more valuable than ever. In fact, this is one of those times that good accounting and advisory services are more valuable than ever.

The Internal Revenue Service plans to offer several new ways to help people struggling to meet their tax obligations because of the recession, and will expand its Free File program to allow nearly all taxpayers to electronically file their taxes for free.

Israel's fifth largest accounting firm, BDO Ziv Haft, has reportedly cut salaries across the board by 5 to 10 percent for all but the lowest paid employees.

With 210 federal securities class-action lawsuits filed in 2008, the level of litigation last year was at its highest level since 2004, according to a new study.

They’re back and ready to dole out hundreds of billions of dollars in new tax cuts and spending, but will it be enough to restart the limping economy?

National Taxpayer Advocate Nina Olson said in her annual report to Congress that taxpayers affected by the recession should be treated more compassionately by the IRS.

The Securities and Exchange Commission has appointed James L. Kroeker as acting chief accountant, replacing Conrad Hewitt, who retired Monday.

President-elect Barack Obama and his transition team reportedly plan to propose approximately $300 billion in tax cuts as part of an overall economic stimulus package.

Accounting firm Holtz Rubenstein Reminick plans to hold a town hall-style meeting for New York-based individuals or businesses that were defrauded by Bernard Madoff's investment scam.

SEC Inspector General H. David Kotz told a congressional panel that the Securities and Exchange Commission is ramping up its investigation of Bernard Madoff and his $50 billion Ponzi scheme.

The economic turmoil of the past year presents a unique opportunity for accountants to broaden their practices to include financial planning.

A commission is expected to recommend a 50 percent increase in federal gasoline taxes to help fund infrastructure projects.

The Internal Revenue Service recently gave 403(b) plan sponsors an extra year to comply with new requirements.

Accounting firm Goldstein Lieberman has introduced a consulting team to help business clients cope with the recession.

The stock market crash, plummeting real estate values and the credit crunch have created general-purpose anxiety for most CPA clients. But for those with children someday headed for college, that looming burden weighs particularly heavily.According to the most recent College Board survey, the average tab this academic year at a four-year private college is $37,390. And total expenses at four-year public institutions average $18,326 for in-state residents, and $29,193 for out-of-state students.

Having a long-term financial plan gives your clients' logic a leg up over their emotions during times of market volatility.The past year has seen the stock markets swinging hundreds of points a day in either direction. That roller coaster ride has tested even the most stoic of investors, but those with a professionally prepared, long-term financial plan most likely have fared better than most do-it-yourself investors.

Fear that the U.S. economic meltdown will encourage corporations to cut accounting corners has helped spur the Public Company Accounting Oversight Board to approve a 9 percent budget increase for itself during 2009, to $157.6 million."Current market conditions suggest that our inspectors may be dealing with even more complex issues next year when they review 2008 audits," PCAOB Chairman Mark W. Olson said in announcing the new budget.