Wealth management

The Internal Revenue Service granted tax filing and penalty relief Tuesday to large estates of people who died in 2010, saying their heirs will have until early 2012 to file the necessary tax returns and pay any estate taxes owed.

Regional CPA and business advisory firm Wipfli has formalized its Public Company Services Practice, a unit that will serve emerging growth and midsized publicly held companies as well as those considering initial public offerings.

The Internal Revenue Service has posted the instructions for the estate tax form for people who died in 2010, the year the estate tax was not in effect for many taxpayers.

A bipartisan trio of senators has introduced legislation that would foster the growth of S corporations owned by Employee Stock Ownership Plans, or S-ESOPs.

The Texas Society of CPAs has issued some tips for self-employed business owners for funding their retirements.

A new study from Fidelity Investments found that 401(k) investors who pulled out of the equities market during the 2008-2009 economic downturn experienced only 2 percent growth, while those who maintained their investment strategy eventually saw growth of 50 percent by the second quarter of this year.

The Financial Accounting Standards Board and the International Accounting Standards Board have updated the computer-readable tags for their accounting standards and exposed them for public comment.

SEC ADOPTS 'LARGE TRADER' REPORTING RULE

The family office was frequently a separate entity, with employees ranging from a chief executive or chief financial officer, to a staff of bookkeepers and personal assistants who could do everything from monthly financial statements to booking travel and personal-care appointments.

IMGCAP(1)][IMGCAP(2)]In the last month, the Dow Jones Industrial Average has dropped by more than 10 percent, and that significant change has investors and market participants on edge, concerned with what stock market volatility will do next and what repercussions it will have on the economy more generally.

Registered investment advisory-focused consulting firm RIA In A Box has introduced a bookkeeping service.

IMGCAP(1)]The SEC's proposed changes to broker-dealer financial reporting regulations could have a major impact on auditing firms that service broker-dealers.

IMGCAP(1)]Limited capital is a reality of business.

IMGCAP(1)]If there ever were a “good year to die,” that would have been 2010.

Non-GAAP earnings numbers are better at predicting a company’s future earnings potential, but they are more subject to opportunistic manipulation and insider trading, a new study finds.

The American Institute of CPAs has written a letter to the Internal Revenue Service asking the IRS to extend the due dates for filing the estate tax form for last year and this year and for a new form for allocating the increase in basis for property acquired from a decedent.

BNA forecasts that wages in the private sector will begin to grow by early 2012.

The Securities and Exchange Commission’s new whistleblower program took effect Friday, and the SEC has created a new Web page where people can report a violation of the federal securities laws and apply for a financial award.

Rising home prices, combined with a slight improvement in real wages, have led Deloitte to post an increase in its Consumer Spending Index in July for the first time since January.

Fifty-eight percent of parents don’t have a college education fund established for their children, according to a new survey.