Archived News for Tax & Accounting Professionals

IRS supervisor contradicts previous claims by others

An Internal Revenue Service supervisor in Washington says she was personally involved in scrutinizing some of the earliest applications from tea party groups seeking tax-exempt status, including some requests that languished for more than a year...

News • June 17th, 2013

New York CPA Society endorses new FASB tax proposal

The New York State Society of Certified Public Accountants (NYSSCPA) expressed agreement with a proposal from the Financial Accounting Standards Board (FASB) that, if implemented, would standardize the treatment of net operating loss carryforwards or...

News • June 17th, 2013

State may end its sales tax holidays

Introduced in 2002, the back-to-school tax holiday was promoted as an opportunity for lower income families affected by tax hikes to buy school supplies and clothing for their children. It is held from 12:01 a.m. on Friday until 11:59 p.m. on Sunday...

News • June 17th, 2013

Housing market showing "real progress"

Soon after the freefall started in 2008, building companies folded, real estate agents found different careers and buyers learned they could make offers as low as they wanted. Builders, agents, buyers and sellers scrambled to alter their strategies...

News • June 16th, 2013

Experts offer investment tips for an uncertain economy

This year's stock market surge has stalled and the market is too choppy to provide any sort of reassurance. Savings accounts earn practically nothing.

News • June 16th, 2013

Problems at IRS jeopardizing health care law funding

Mounting scandals at the Internal Revenue Service are jeopardizing critical funding for the agency as it gears up to play a big role in President Barack Obama's health care law.

News • June 16th, 2013

Wholesalers report increase in prices of 0.5 percent in May

A rise in food and gas costs drove a measure of wholesale prices up sharply in May. But outside those volatile categories, inflation was mild.

News • June 16th, 2013

New York bookkeeper admits theft of $800,000 from Buffalo employer

The bookkeeper on Friday admitted stealing nearly $800,000 over 10 years from the Buffalo property company where she worked.

News • June 16th, 2013

Proposed law would bar lottery jackpot winners from food stamps, SNAP

Lottery winners who continue to cash in on food stamps are being targeted by the U.S. Senate in a crackdown being applauded by Bay State welfare fraud fighters who say the reform is long overdue.

News • June 16th, 2013

Are there enough new buyers to keep housing market rising?

First-time buyers like Valenti and Barbieri are key to the health of residential real estate. So there is concern, at least on the national level, that there might not be enough of them to sustain the housing recovery.

News • June 16th, 2013

Oil still on Gulf Coast beaches as BP prepares to end cleanup

Finding tar balls linked to the BP oil spill isn't difficult on some Gulf Coast beaches, but the company and the government say it isn't common enough to keep sending out the crews that patrolled the sand for three years in Alabama, Florida and...

News • June 16th, 2013

New Jersey residents rate increasing property taxes as major concern

Property taxes are still a major concern for New Jersey voters, with 79 percent reporting an increase in their tax bills.

News • June 16th, 2013

Sales tax rate in Arkansas rising 0.5% starting July 1

Arkansas residents will soon be paying a bit more sales tax as a result of a ballot initiative for state highway improvements that voters approved last November.

News • June 16th, 2013

California Governor seeks elimination of enterprise-zone tax credits

A battle is raging over a California program that grants businesses tax breaks for creating jobs but prevents the public from knowing who got them and why.

News • June 16th, 2013

2 parking spots sold for $560,000

Parking is such a precious commodity in Boston that one woman was willing to pay $560,000 for two off-street spaces near her home.

News • June 16th, 2013

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