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• Small Businesses Lost 75,000 Jobs in October

  November 4, 2009

  Businesses with less than 50 employees shed 75,000 private sector jobs in October, according to the latest monthly employment report from payroll giant ADP.

• Financial Services Sector Sees Spike in Fraud

  October 23, 2009

  The global financial services industry experienced a dramatic spike in fraud activity, with companies losing an average of $15.2 million over the past three years, according to a new report.

• PwC, KPMG Offices Raided in Iceland

  October 2, 2009

  Police have raided the offices of PricewaterhouseCoopers and KPMG in Iceland searching for information related to banking clients that went bust.

• U.S. Commercial Spending Estimated at $20.3 Trillion in 2008

  September 28, 2009

  Visa Annual Report Signals jump for SMBs, Large Biz

• Executives Anticipate Rise in Fraud

  August 25, 2009

  Nearly a third of corporate executives expect fraud or misconduct to rise in their organizations this year, according to a survey by KPMG.

• Companies Plagued by Risk Management Gaps

  August 17, 2009

  Almost two-thirds of companies in a recent survey by Ernst & Young say they do not plan to commit more resources to risk management over the next 12 to 24 months, despite the problems uncovered by the financial crisis.

• Recession Drives Risk Management Overhaul

  July 7, 2009

  An overwhelming 85 percent of corporate executives say they need to overhaul their approach to risk management as a result of the economic downturn, according to a new survey.

• Amazon, Overstock Drop Affiliates in Three States

  July 2, 2009

  Both Amazon.com and Overstock.com have stopped using affiliate Web sites in three states that have passed laws requiring sales tax to be collected on Internet sales if companies have local affiliate partners.

• CFOs Get More Involved in Business Strategy

  July 1, 2009

  The economic downturn has raised the profile of senior executives worldwide, with CFOs becoming more involved in developing business strategy and prioritizing risk management.

• H&R Block Fiscal 2009 Swings to Profit

  June 30, 2009

  H&R Block saw its first profitable year in four years, after the tax prep giant shed its money-losing mortgage operation.

• Madoff Receives 150-Year Sentence

  June 29, 2009

  Former investment manager Bernard Madoff was sentenced to the maximum term of 150 years in prison for running a Ponzi scheme estimated to have totaled $65 billion.

• U.S. News & World Report Fields CPA Poll

  June 16, 2009

  U.S. News & World Report has launched an online poll of the CPA profession, with questions about the economy and the federal government.

• Accountants Put More Emphasis on Productivity

  June 2, 2009

  A survey of a group of more than 700 accountants found that they see productivity as the top challenge facing leaders during poor economic times.

• Deloitte Greenlight to Acquire BearingPoint

  May 20, 2009

• All Good Things Must End

  May 20, 2009

• Companies Worried About Anti-Bribery Laws

  May 18, 2009

  Three quarters of executives in a recent survey by Deloitte reported increased concern over violating anti-bribery laws such as the Foreign Corrupt Practices Act.

• Sustainability looms as a bigger issue

  May 18, 2009

  Ten years ago, the Dow Jones Sustainability Index began to track the financial performance of leading sustainability-driven companies around the world.

• Audit Watchdog Group Warns About Starbucks

  May 15, 2009

  Research firm Audit Integrity issued a negative report to investors and auditing firms about Starbucks Corp., warning that the coffee retailer rates poorly on several risk factors, including equity risk, class-action litigation and financial restatements.

• Small Businesses Rely More on Credit Cards

  May 12, 2009

  The majority of small businesses are depending on credit cards to stay running nowadays, according to a new survey.

• Freddie Mac CFO Found Dead

  April 23, 2009

  David Kellermann, the acting chief financial officer of mortgage finance concern Freddie Mac, was found dead at his home of an apparent suicide. According to reports, authorities in Fairfax County said there were no signs of foul play at Kellermann’s house in Vienna, Va.

• Survey Says Accountants' Jobs Are Changing

  April 19, 2009

  Three-quarters of accountants say the financial crisis has changed their on-the-job responsibilities.

• Economy, legislation threaten to impact S corps

  April 19, 2009

• They need help!

  April 19, 2009

  It's safe to say there hasn't been a time in recent history when small-business owners needed guidance from their accountants as much as they do now. It's becoming clear that for all their knowledge and energy, most entrepreneurs can't go it alone in these difficult times

• IRS issues guidance for Ponzi victims

  April 19, 2009

  In the wake of several high-profile Ponzi schemes - most notably, the $65 billion fraud perpetrated by the now-jailed Bernard Madoff - the Internal Revenue Service has issued new guidance for victims of these types of schemes and their tax preparers.

• Tax strategy: Ponzi scheme guidance: More details

  April 19, 2009

  The Bernard Madoff situation is just the most notorious of dozens of Ponzi schemes that have surfaced since the current recession made it more difficult for the operators of those schemes to keep covering payouts and redemptions with money from new investors.

• Wiss Combines with Freeman & Davis

  April 15, 2009

  Merger expands firm in New York, adds niches.

• Senior Financial Execs Foresee Long Recession

  April 13, 2009

  Grant Thornton study finds CFOs gloomy.

• States Hike Sales Tax Rates to New Records

  April 9, 2009

  The economic crisis is forcing many states and cities to increase their sales tax rates to the highest average level ever, according to a new report.

• IFAC Backs G-20 Financial Reforms

  April 8, 2009

  The International Federation of Accountants has endorsed a set of proposals made at last week's G-20 Summit of world leaders that aim to reform the global financial regulatory system.

• PwC India Auditors Charged in Satyam Case

  April 8, 2009

  Two auditors from PricewaterhouseCoopers' Indian member firm have been charged in the Satyam accounting scandal.

• CPAs and Tax Preparers Charged in Methane Scam

  April 7, 2009

  The Justice Department has filed suit against four CPAs, 27 tax preparers and another individual, accusing them of promoting a tax scam that claimed bogus income tax credits for sham sales of methane from landfills.

• Practitioner Suspended for Bilking Taxpayers

  April 7, 2009

  The Internal Revenue Service has suspended an enrolled agent from practicing before the agency after his clients complained that he did little to help them settle their tax disputes.

• Protecting businesses from fraud

  April 5, 2009

  As the economy continues its downturn and the financial pressure on business increases, the risk of fraud becomes higher than ever.

• In brief

  April 5, 2009

• Madoff investors: Tax victims, too?

  April 5, 2009

  Many are surprised to learn that while it sometimes appears that the Internal Revenue Code reaches into every aspect of our lives, it lacks focus in addressing the complex tax consequences that face the unfortunate victims of Ponzi schemes.

• International Accounting Monitors Choose Leader

  April 6, 2009

  The Monitoring Board that was recently established to add more public accountability to the International Accounting Standards Board has held its inaugural meeting and picked its first leader.

• FASB Explains Fair Value Changes

  April 6, 2009

  The Financial Accounting Standards Board has issued a "plain English" summary of the board's actions when it modified the standards for fair value and mark-to-market accounting in response to congressional demands.

• SEC Says Arizona CPA Ran $67M Ponzi Scheme

  April 6, 2009

  The Securities and Exchange Commission has revoked the license of an Arizona CPA and filed charges accusing him of running a $67 million Ponzi scheme.

• Companies Foresee More Tax Audits

  April 6, 2009

  As governments desperately seek all kinds of additional revenue, senior business professionals see the increased possibility of an audit by taxing authorities as the most significant tax risk facing their organizations today, according to a new survey.

• Reactions Mixed to FASB Fair Value Compromises

  April 3, 2009

  Accounting experts and industry organizations alternately praised and panned the Financial Accounting Standards Board's decision to loosen the standards for fair value and mark-to-market accounting.

• Congress to IRS: Go Easy on Small Biz

  April 2, 2009

  Lawmakers at a congressional hearing Wednesday pressed Internal Revenue Service Commissioner Douglas Shulman to ease up on audits of small businesses.

• IRS Provides COBRA Guidance

  April 2, 2009

  The Internal Revenue Service has issued guidance to clarify the COBRA benefits offered under the recently passed stimulus bill.

• FASB Compromises on Fair Value

  April 2, 2009

  Under pressure from Congress to act quickly, the Financial Accounting Standards Board voted to approve substantial changes to fair value accounting.

• Outlook Dims for Recovery This Year

  March 31, 2009

• New Oversight Board Proposed

  March 31, 2009

• Firms Take Action on the Crisis

  March 31, 2009

  Many firms have found the financial crisis fertile ground for new client services.

• Accounting & Auditing Briefs

  March 31, 2009

• AICPA Launches Economic Crisis Resource Center

  March 31, 2009

• Seniors Lack Economic Security

  March 31, 2009

• Saving More, Cutting Debt

  March 31, 2009

• CCH Helps with Crisis, IRS

  March 31, 2009

• Recovery Act Moves

  March 31, 2009

• Intuit Offers Cash, Services to Firms

  March 31, 2009

  Intuit has launched a program offering $10,000 cash grants and up to $10,000 in products and services to 10 accounting firms.

• Report Recommends More Fair Value Disclosures

  April 1, 2009

  A new report suggests that companies adopting the Financial Accounting Standards Board's recent proposals on modifying mark-to-market and fair value accounting standards should provide more extensive disclosures to help investors make sense of the impaired assets.

• IRS Announces Tax Break on New Car Purchases

  April 1, 2009

  The Internal Revenue Service has begun spreading the word about a special incentive for taxpayers to buy a new car this year: a hefty deduction next year.

• Treasury Launches Financial Stability Site

  April 1, 2009

  The Treasury Department has opened its ballyhooed Web site that will allow ordinary citizens to keep an eye on efforts to stabilize the financial system.

• FASB Caves on Mark-to-Market

  April 1, 2009

  The Financial Accounting Standards Board has bowed to pressure from lawmakers and banking interests and put forward a proposal to relax fair value standards.

• Private Sector Lost 742,000 Jobs in March

  April 1, 2009

  Private sector employment declined by 742,000 jobs last month, according to the latest monthly report by payroll giant ADP.

• Bonus Tax Bills May Be Unconstitutional

  March 31, 2009

  The Congressional Research Service has found that both the Senate and House bills that seek to tax bonuses paid to employees of entities receiving assistance from the federal government under the Economic Stabilization Act of 2008 may have constitutional problems.

• How Satyam Kept a Major Scandal Under Wraps

  March 31, 2009

  Among the many cases of financial statement fraud that have hit the marketplace, one of the most intriguing is Satyam Computer Services' $1.1 billion vanishing cash hoard.

• IRS Employee Stole Taxpayer Identities

  March 31, 2009

  An Internal Revenue Service employee has been charged with illegally accessing IRS computers to obtain information on taxpayers and filing false tax returns in their names.

• IRS to Offer Leniency to Offshore Evaders

  March 30, 2009

  As part of its plan to generate intelligence on accountants, bankers and lawyers who help clients evade U.S. taxes by hiding money in offshore accounts, the Internal Revenue Service will grant leniency to those who volunteer to pay taxes on overseas accounts in exchange for information on who aided them in hiding the money.

• Top Managers Can Last Nine Months Unemployed

  March 30, 2009

  In the current recession, an extended period of unemployment for top managers no longer carries the stigma it previously did, as a recent survey of executives said that on average, a senior manager could be jobless for as long as nine months before their careers became adversely affected.

• Institute Guide Offers Disaster Recovery Tips

  March 30, 2009

  The American Institute of CPAs has published Disaster Recovery: A Guide to Financial Issues, in cooperation with the American Red Cross and the National Endowment for Financial Education.

• Top Bankers Pledge Cooperation to Solve Crisis

  March 30, 2009

  Executives from the nation's largest banks pledged their cooperation and commitment to President Obama and his administration in order to begin the recovery process.

• Obama on Automakers' Bailout Plans: Unacceptable!

  March 30, 2009

  President Obama and his top economic advisors have determined that neither General Motors nor Chrysler have put forth acceptable plans to receive more bailout funds, which could effectively shut down the two auto giants.

• TARP Nominee Drops Out

  March 27, 2009

  Frank Brosens, a founding partner at hedge fund concern Taconic Capital Advisors, has withdrawn his nomination as overseer of the $700 billion bank bailout program.

• Prosecutors Ask for the Max for Tax Shelter Execs

  March 27, 2009

  Prosecutors maintain that two former executives of Big Four firm KPMG should be sentenced as much as 24 years in prison for their part in marketing illegal tax shelters.

• GAO: SBA Program Fraught with Poor Controls, Abuse

  March 26, 2009

  A searing report from the Government Accountability Office has charged the Small Business Administration with poor controls and oversight that resulted in a number of companies receiving undeserved funds from a program designed to boost

• Intuit Unveils Co-Sponsors, Judges for Grant Competition

  March 26, 2009

  As part of its previously announced Power to Get More Done Initiative, which aims to help firms deal with the shaky economy by giving them money to hire extra staff and invest in their business, financial and tax software provider Intuit has announced the co-sponsors and judges for the effort.

• CFOs Optimism Wanes, Finance Execs Demand More from Boards

  March 26, 2009

  While confidence both in the U.S. economy and national leadership remains at low levels, many CFOs are taking action to protect their businesses, as 70 percent of financial executives surveyed revealed they are exploring strategies such as salary and benefits freezes and layoffs, while 58 percent have reported less confidence in President Barack Obama's ability to deal with the financial crisis since he took office.

• Toxic Asset Superfund

  March 25, 2009

  Treasury Secretary Timothy Geithner did his best at filling in the blanks on the Obama administration's plan for cleaning up the so-called 'toxic assets' clogging the balance sheets of banks.

• Geithner Petitions Lawmakers for Broader Takeover Powers

  March 25, 2009

  In a hearing before the House Financial Services Committee, Treasury Secretary Tim Geithner asked lawmakers to grant the Treasury Department more power to seize failing financial firms.

• Survey: Recession Not Stopping Divestitures

  March 25, 2009

  Despite the economic slump, a high number of executives are continuing to pursue divestitures or carve-outs, according to a survey conducted by Deloitte Corporate Finance.

• Internal Auditors Weigh In on Financial Crisis

  March 25, 2009

  -- More than 40 percent of internal auditors within the financial services sector felt that better risk management practices could have helped prevent their organization's current financial situation, according to a just-released study from the Institute of Internal Auditors.

• Triumph and Disaster

  March 24, 2009

  Politics seemed to be more about ideals before I was born, but more about expenditures after.

• Audit Committees Change Oversight

  March 24, 2009

  About 89 percent of the 150 audit committee members at a recent KPMG conference said that the financial crisis had caused their company's board or audit committee to change the nature and scope of its oversight.

• Grassley Calls on Fannie and Freddie to Justify Bonuses

  March 23, 2009

  Sen. Chuck Grassley, R-Iowa, has asked Fannie Mae and Freddie Mac to account for their retention bonus programs while the entities were losing money and even after they accepted taxpayer-funded bailouts.

• CBO Revises 2009 Budget Projections

  March 23, 2009

  The Congressional Budget Office has revised its projection of the 2009 deficit, adding another $400 million and bringing the total to a numbing $1.7 trillion.

• Administration Unveils Toxic Asset Plan

  March 23, 2009

  The Obama administration has revealed the latest measure in its colossal financial rescue plan, enticing private investors to buy up to $1 trillion in troubled assets carried by banks.

• Ernst & Young, UBS Sued over Madoff Feeder Fund

  March 20, 2009

  Ernst & Young and Swiss bank UBS have been sued by a group of investors in Luxembourg who put money in a fund that directed 95 percent of their assets to Bernard Madoff's firm.

• Small Businesses in Crisis Turn to Accountants

  March 19, 2009

  The economic crisis is prompting more and more small-business owners to turn to their accountants for advice, according to a new survey.

• IRS Wants Stanford to Pay Back Taxes

  March 19, 2009

  A federal court in Texas has ruled in favor of the Internal Revenue Service as it seeks $226.6 million worth of back taxes from Sir Allen Stanford, the banker who has been accused of defrauding investors of $8 billion.

• House Votes to Tax AIG Bonuses

  March 19, 2009

  In response to public outrage over the $165 million in bonuses awarded to AIG executives, the House voted 328 to 93 to levy a 90 percent tax on the money.

• Madoff's Auditor Arrested

  March 18, 2009

  David Friehling, the accountant who ran the tiny auditing firm that serviced Bernard Madoff's broker/dealer firm, has been arrested and charged with securities and investment advisor fraud.

• Putting the 'OT' in SWOTs

  March 17, 2009

  "A threat and an opportunity!" is how most firms in Practical Accountant's upcoming survey of regional firms termed this recession.

• Stimulus may stimulate accountants

  March 15, 2009

  Provisions in the recently signed $787 billion economic stimulus package - the American Recovery and Reinvestment Act of 2009 - will have a ripple effect across all industries, according to experts.

• Government may be the answer!

  March 15, 2009

  Is your firm interested in entering the federal government market? In an uncertain economy, the federal government can be a reliable source of revenues, often with good margins. A terrible economy, ironically, might be about the best time to try, due to a confluence of events - an unending spate of bailout and stimulus initiatives, coupled with the new administration's strong demands for transparency and accountability.

• In brief

  March 15, 2009

• Clients, Advisors Urgently Seek Answers

  March 15, 2009

  As the economy worsens and unemployment continues to rise, many people who have stayed invested may be asking themselves if they made a mistake by not selling out and remaining in cash.

• Man Indicted for Posing as Enrolled Agent

  March 16, 2009

  A federal grand jury has indicted a California tax preparer for claiming he was an enrolled agent with the Internal Revenue Service.

• Treasury Tries to Jumpstart Small-Business Lending

  March 16, 2009

  President Barack Obama and Treasury Secretary Timothy Geithner unveiled a new effort aimed at unlocking the tight credit market for small businesses.

• IRS Issues Guidance For Ponzi Scheme Victims

  March 16, 2009

  Internal Revenue Service Commissioner Doug Shulman has announced guidance for Ponzi scheme victims and their tax preparers. The guidance, which Shulman emphasized is not specific to the Madoff case, is in the form of a revenue ruling and a revenue procedure.

• CFOs Try to Boost Company Morale

  March 13, 2009

  Sixty-eight percent of CFOs have taken steps to boost employee morale in the midst of the economic crisis, according to a new survey, but 26 percent haven't done anything.

• XBRL May Help Monitor TARP Spending

  March 13, 2009

  Interactive data-tagging technology could assist government auditors in monitoring the spending done under the $700-billion-plus financial bailout plan.

• Securities Settlements Down 50 Percent

  March 12, 2009

  The average settlement as a result of securities class-action litigation dropped more than 50 percent in 2008, to $31.2 million, according to a report from Cornerstone Research.

• Madoff Goes to Jail

  March 12, 2009

  Bernard Madoff pleaded guilty to 11 charges in connection with a gigantic Ponzi scheme that swindled his clients out of up to $65 billion.

• Tax Preparer Indicted for Keeping Client Refunds

  March 12, 2009

  An Arizona tax preparer has been charged with diverting thousands of dollars' worth of his clients' tax refunds to his own bank account.

• CPA to Oversee Tennessee's Stimulus Spending

  March 10, 2009

  Tennessee Governor Phil Bredesen has tapped a CPA, Charles L. Harrison, to lead the state's "implementation" of the stimulus funding it receives.

• Shareholder Meetings Likely to Be Contentious

  March 10, 2009

  Accounting firm BDO Seidman anticipates that shareholder meetings this year will be dominated by concerns about excessive executive compensation, recession plans and credit concerns.

• Bernanke Foresees Accounting Rule Modifications

  March 10, 2009

  Federal Reserve Chairman Ben Bernanke said that accounting standards need to be modified to deal better with valuing illiquid assets.

• ACCA Challenges Global Leaders to Endorse IFRS

  March 9, 2009

  The Association of Chartered Certified Accountants wants world leaders who attend the G20 summit next month to endorse International Financial Reporting Standards, and to leave fair value accounting alone.

• Dealing With Financial Stress

  March 8, 2009

  Multiple generations are handling the economic crisis in very different ways.

• Congress Proposes New Accounting Overseer

  March 6, 2009

  Two members of the House Financial Services Committee have introduced a bill that would establish a new Federal Accounting Oversight Board and probably loosen mark-to-market accounting standards.

• Internal Audit Critical in Financial Crisis

  March 6, 2009

  The internal audit function has become crucial to helping companies cope with the economic crisis and complex regulatory requirements, according to a new guidebook.

• Financial Planning Video Site Launches

  March 5, 2009

  The American College has introduced a video-on-demand Web site that will provide information for financial planners on wealth management and related topics.

• Washington Can Really Use Some Accountants Now

  March 4, 2009

  The Obama administration's stimulus bill and budget proposal are going to require the outlay of not only trillions of dollars, but the hiring of a lot more accountants to keep track of all that money.

• Private Sector Loses 697,000 Jobs

  March 4, 2009

  Private sector employment decreased by nearly 700,000 in February, according to the latest report from payroll giant ADP.

• Invoicing Mistakes Threaten Cash Flow

  March 4, 2009

  The economic crisis is choking off cash flow at many companies, but invoicing problems are hurting cash flow too, according to a new study.

• AIG Sues over Taxes and is Sued for Fraud

  March 4, 2009

  American International Group, which is receiving between $152 billion and $163 billion so far in taxpayer bailout funds, has sued the federal government to recover over $306 million for 1997 taxes, penalties and interest that the insurance company claims it was illegally charged.

• Hiring Mostly Flat in Accounting Jobs

  March 3, 2009

  About 86 percent of CFOs report a desire to maintain their current staff levels in the next three months, but 2 percent predict decreases in accounting and finance personnel in the second quarter, according to a survey by staffing services company Robert Half International.

• Geithner Defends Budget and Tax Policies

  March 3, 2009

  Treasury Secretary Timothy Geithner explained the Obama administration's budget and tax plans, and his handling of the financial industry bailout, to wary lawmakers in a congressional hearing.

• Embattled Freddie Mac CEO Resigns

  March 2, 2009

  Freddie Mac CEO David Moffett has submitted his resignation after running the troubled housing lender since only last September.

• Town Sues KPMG over Madoff Feeder Fund

  March 2, 2009

  The town of Fairfield, Conn., has filed a lawsuit against KPMG and an investment advisor after its employee retirement programs lost an estimated $40 million in two hedge funds that invested all their assets with Bernard Madoff.

• Groups Partner on Fraud Deterrence Training

  March 2, 2009

  The International Association of Consultants, Valuators and Analysts is launching a fraud deterrence training program in partnership with the fraud and forensic consulting firm Cendrowski Corporate Advisors.

• Tax & Financial Planning News

  March 1, 2009

  Crisis center launched; Avalara launches blog; Copanion names CFO; Morningstar ponders credit ratings; CCH names sales tax team; Advent net jumps; ADP net and sales rise; and SpeedTax starts channel program.

• Bill Would Beef up Broker-Dealer Auditor Oversight

  February 27, 2009

  Rep. Paul Kanjorski, D-Pa., has introduced a bill in Congress to close a legal loophole that allowed Bernard Madoff's tiny auditing firm to avoid scrutiny.

• Congressman Asks IRS for Tax Relief of Madoff Victims

  February 27, 2009

  Rep. Gary Ackerman, D-N.Y., has written to Internal Revenue Service Commissioner Douglas Shulman asking him to provide tax relief to investors who were swindled by Bernard Madoff's $50 billion Ponzi scheme.

• LBMC Forms IT Security Arm

  February 26, 2009

  The LBMC Family of Cos., which includes an accounting firm, as well as healthcare, technology and investment practices, has formed LBMC Managed Security Services LLC, a unit designed to provide its clients with IT security services.

• Financial Crisis Advisory Group to Meet Again

  February 26, 2009

  The next meeting of the Financial Crisis Advisory Group is scheduled for March 5 as accounting leaders and regulators sort out issues related to the recession.

• CPAs Ponder Madoff Strategies

  February 26, 2009

  More than two-thirds of the 100-plus CPAs present at a New York State Society of CPAs breakfast indicated they had clients affected by the Bernard Madoff scheme.

• Ric Rosario

  February 26, 2009

  Ric Rosario is stepping into some big shoes at Camico Mutual Insurance Co.

• IRS Offers Information on COBRA Subsidies

  February 26, 2009

  The Internal Revenue Service has issued information to help employers claim credit for the COBRA medical premiums they pay for former employees under provisions of the recently passed stimulus bill.

• What the Heck is a Financial Stress Test?

  February 25, 2009

  Bankers could start huffing and puffing after a few minutes on the treadmill once Tim Geithner cranks up the dial a few notches.

• Tax Return Preparer Sentenced

  February 24, 2009

  A former tax return preparer who worked from an office at a local gym has been sentenced to 24 months in prison for preparing false tax returns for customers.

• Accounting in uncertain times

  February 23, 2009

  In today's economic climate, companies and accounting firms that give opinions on their clients' financial statements are sure to face new and significant challenges.

• In brief

  February 23, 2009

• Managing risk in difficult times

  February 23, 2009

  An economic triple threat - the collapse of equity markets, declining top-line revenue, and stingy banks - makes it a risky time to be in business or investing, and equally risky to be a CPA.

• IRS Releases New Withholding Tables

  February 23, 2009

  The Internal Revenue Service has published new tax-withholding tables as a result of the economic stimulus bill that should give most workers a bigger paycheck this spring.

• Obama Budget to Include Tax Increases

  February 23, 2009

  President Barack Obama is expected to release his budget proposal this week, and he reportedly plans to include tax increases to close the deficit.

• Schenck Forms Financial Crisis Team

  February 20, 2009

  Regional accounting firm Schenck Business Solutions has created a Financial Crisis Response Team to help companies challenged by the recession.

• Outlook Dims for Recovery This Year

  February 19, 2009

  CFOs and senior-level executive CPAs see the domestic economic downturn as lasting longer than previously expected, according to a survey by the American Institute of CPAs and the University of North Carolina's Kenan-Flagler Business School.

• Treasury's Latest Rescue Plan Fizzles

  February 18, 2009

  When Timothy Geithner unveiled the Treasury Department's latest financial rescue plan, he probably didn't expect it to flop so quickly.

• Gen Y's Reality Check

  February 18, 2009

  Proving generational clashes aren't only taking place in the states, we found an article in an Australian small business publication quoting a 24-year-old KPMG employee in Melbourne worried about her future for the first time after her two close friends lost their jobs.

• Economic Fears Are Overblown

  February 17, 2009

  There is probably something in humans and in every generation that makes us think that the problems we face are uniquely difficult.

• President to Sign Stimulus Package

  February 17, 2009

  President Barack Obama plans to sign the stimulus bill into law in Denver on Tuesday after Congress passed the massive $787 billion bill.

• Businesses Not Ready for Government Investigations

  February 17, 2009

  Approximately 80 percent of companies are not ready for government or regulatory investigations, according to a new survey.

• Former BDO Attorney Pleads Guilty to Tax Evasion

  February 17, 2009

  A former attorney at BDO Seidman has pleaded guilty to tax evasion and tax fraud charges in connection with a tax shelter scheme.

• Obama Signs $787 Billion Stimulus Package

  February 17, 2009

  President Barack Obama signed the massive $787 billion stimulus bill into law in an effort to boost the economy out of a deep recession.

• Illinois CPAs Offer Valentine's Day Advice

  February 13, 2009

  The Illinois CPA Society is suggesting that couples have a heart-to-heart talk on Valentine's Day about a topic that's been making the rounds these days: money.

• Stimulus Bill Moves Toward Passage

  February 13, 2009

  House and Senate leaders made last-minute adjustments to the economic stimulus package as the final bill headed for a vote.

• Financial Crisis Group Debates Accountants' Role

  February 13, 2009

  An international group of accountants, regulators, bankers and business luminaries met to discuss the impact of the financial crisis and the implications for financial reporting.

• Ditch the AMT Patch, For Now

  February 11, 2009

  If the patch for the alternative minimum tax is going to be one of the hurdles holding up reconciliation of the House and Senate versions of the stimulus bill, let's get rid of it.

• AICPA Opens Job Site for Out-of-Work CPAs

  February 11, 2009

  The American Institute of CPAs has opened a free online job finder to help accountants find work during the recession.

• Lawmakers Chide Bankers over Bailout Funds

  February 11, 2009

  The House Financial Services Committee grilled a group of bankers who received money from the financial bailout over how they had been using the money.

• Congress Reaches Deal on Stimulus Tax Cuts

  February 11, 2009

  Senate Majority Leader Harry Reid, D-Nev., said that negotiators from the House and Senate have reached an agreement on the stimulus package.

• Mix Well and Serve

  February 10, 2009

  "Look at the guy on your left," they told pilot recruits during World War II on their first day of training.

• Geithner Outlines Financial Stability Plan

  February 10, 2009

  Treasury Secretary Timothy Geithner spelled out plans for how the government will spend trillions of dollars to deal with unfreezing credit and taking troubled assets off the books of financial institutions.

• Senate Approves Stimulus Package

  February 10, 2009

  The Senate has approved the economic stimulus bill after three Republican senators agreed to vote for the massive package aimed at reviving the economy.

• Senate Moves Closer to Crucial Stimulus Votes

  February 9, 2009

  The Senate plans a crucial procedural vote Monday after a group of moderate senators forged a compromise over the weekend to trim approximately $110 billion from the economic stimulus bill.

Related Articles

• Small Businesses Lost 75,000 Jobs in October

• Financial Services Sector Sees Spike in Fraud

• PwC, KPMG Offices Raided in Iceland

• U.S. Commercial Spending Estimated at $20.3 Trillion in 2008

• Executives Anticipate Rise in Fraud

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