Washington DC news

Tax

Congressman's wife gets prison time for tax misconduct

The wife of a U.S. Congressman will report to prison next month. Patrice Tierney, age 60, received a harsher than expected sentence for her participation in the filing of fraudulent tax returns.
Tax

Treasury launches prepaid debit and payroll card program

The U.S. Department of the Treasury has launched a program offering taxpayers a financial account for the electronic delivery of federal tax refunds. It says the account card offers conveniences and consumer protection features.
Tax

WikiLeaks may reveal names of tax evaders

Although WikiLeaks is reportedly reviewing secret information on approximately 2,000 offshore banking clients, it’s unlikely the material will be made public soon, according to reports.
Community News

Dixon Hughes and Goodman & Company announce merger

Dixon Hughes PLLC and Goodman & Company LLP this week announced that they will merge their firms and affiliated entities effective March 1. The combined firm will be known as Dixon Hughes Goodman LLP and will be headquartered in Charlotte, North Carolina.
A&A

CPA travels Route 66 to promote fuel that benefits Mother Nature

Not only did compressed natural gas benefit the business of a CPA's friend and client, it was the genesis of a record-breaking trip along Route 66 to promote alternative fuel and energy independence. AccountingWEB's Jason Bramwell reports.
Practice

Small business employment index indicates 57,000 jobs created in December

Small business employment continued to show growth in December with an increase in hours worked and wages flat, according to the most recent Small Business Employment Index by Intuit Inc.
A&A

IRS provision exempts some non-signing tax preparers from competency exam

The Internal Revenue Service has issued regulations regarding non-signing preparers and PTIN registration. The regulations provide an exemption from competency exam requirements for some non-signing tax preparers.
Tax

Year in (1099 and W-2) review

With W-2 and 1099 reporting season in full swing (along with our nation's love of year-end lists) Greatland Corporation has released its inaugural selection of some of the year’s most news-making events as they pertain to 1099 and W-2 forms.
A&A

PCAOB establishes new Office of Outreach and Small Business Liaison

The Public Company Accounting Oversight Board announced yesterday the establishment of the Office of Outreach and Small Business Liaison.
Tax

Tax Foundation releases state business tax index

South Dakota's tax system is most welcoming to economic activity while New York's tax code ranks 50th as the least hospitable, according to the Tax Foundation's most recent edition of the State Business Tax Climate Index, which ranks the tax systems of the 50 states.
Tax

Obama strikes tentative deal to extend tax cuts, unemployment compensation

President Barack Obama announced a compromise with Republican congressional leaders to extend the Bush-era income tax rates, extend unemployment compensation, and cut payroll taxes.
A&A

Deloitte CFO Vision Poll: Midterm elections improve business outlook

Despite the fact that more than 70 percent of chief financial officers at Deloitte's annual CFO Vision conference believe current government financial policy has either had no effect or negatively impacted their business, the tide is turning toward a more positive outlook.
Tax

Year-end tax planning tips

As 2010 winds down, there is still plenty of time to put last-minute tax-planning techniques into play, according to Grant Thornton LLP.
Education & Careers

Small business employment index indicates 49,000 new jobs; wages down slightly

Small business employment continued to show growth in November, although wages were down and hours worked remained flat, according to this month's Small Business Employment Index by Intuit Inc.
Tax

Rep. Charles Rangel gets his day in court, faces an unexpected loss

Rep. Charles Rangel (D-N.Y.) once again is in the news for ethics violations. For more than two years, Rangel, the former chairman of the House Ways and Means Committee, has been the target of an investigation involving a growing list of charges.
A&A

New Congress Part 1: Deficits, tax cuts, lame ducks

Following the November 2 elections, Republicans are taking the lead in the House and have strengthened their position in the Senate, which means there is much talk of permanently extending the Bush tax cuts.
Tax

Thousands of not-for-profits could have tax-exempt status revoked

Now that the October 15 deadline has passed, as many as 400,000 not-for-profit organizations could be in danger of losing their tax exempt status.
A&A

Thomson Reuters Tax and Accounting asks the question: "r u ready?"

Approximately 800 accounting professionals from around the country gathered recently in Washington, D.C., not to try to lobby Congress or push a tax agenda, but to learn and absorb tools and tips from the mother ship, Thomson Reuters Tax & Accounting.
Tax

What voters said about tax hikes in November elections

As lawmakers try to solve budgetary shortfalls by raising taxes in most states, taxpayers are not pleased, and they said so earlier this month at the polls.
Tax

NBA's Lamar Odom cries foul, challenges IRS

Los Angeles Lakers forward Lamar Odom is accustomed to facing formidable opponents on the basketball court. But these days, he’s taking on the Internal Revenue Service in a different court setting over what he sees as a personal foul.

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