The Latest

Highlights of some of our favorite tax-related blogs from the past week.

Swiss banks seeking to avoid U.S. prosecution by disclosing how they helped Americans evade taxes asked the Justice Department this week to back off a dozen demands, including that they cooperate with other nations.

Raoul Weil, who once ran UBS AG’s global wealth-management business, referred to accounts hidden by U.S. clients from the Internal Revenue Service as “toxic waste,” a witness at his tax-conspiracy trial said.

Tesco Plc Chairman Richard Broadbent will leave after the U.K.’s biggest supermarket company said accounting irregularities started earlier than this year and will continue to impact profit in the second half.

Individuals who lost money in the stock market in 2014 may have other investment assets that have appreciated in value. These taxpayers should consider the extent to which they should sell appreciated assets before year end (if their value has peaked) and thereby offset gains with pre-existing losses.

The Public Company Accounting Oversight Board has released expanded versions of two of its inspections reports of KPMG LLP after the firm failed to address quality control issues to the board’s satisfaction.

Arnett Foster Toothman PLLC and Carbis Walker LLP have agreed to merge and will take on the new name of Arnett Carbis Toothman LLP come Jan. 1, 2015.

As previously reported, the majority of 99 accounting firms surveyed by ConvergenceCoaching have implemented work-from-home programs for their staff. Convergence has now released further insights, both positive and negative feedback, from those firms,

Top 100 firm Carr, Riggs & Ingram LLC has enhanced its presence in Alabama by merging in Boohaker, Schillaci & Co.

Chief financial officers in both the U.S. and Europe are concerned about the financial prospects for their own companies as well as global economic conditions, according to a new survey.