Latest Accounting, tax preparation and payroll services News

FILE - In this June 4, 2020 file photo, a pedestrian wearing a mask walks past a reader board advertising a job opening for a remodeling company, in Seattle. U.S. companies added nearly 2.4 million jobs in June, according to a private survey, a large gain that still leaves the job market far below its pre-pandemic levels. The payroll company ADP said that small businesses reported the largest gain, adding 937,000 jobs. Construction firms and restaurants and hotels also posted big increases in hiring. (AP Photo/Elaine Thompson, File)

Survey: Companies added 2.4 million jobs in June

Jul. 1, 2020 10:11 AM EDT

WASHINGTON (AP) — U.S. companies added nearly 2.4 million jobs in June, according to a private survey, a large gain that still leaves total employment far below its pre-pandemic levels. The payroll company ADP said Wednesday that small businesses reported the biggest increase, adding 937,000 jobs. Among...

FILE - In this Thursday, April 25, 2019 file photo, Markus Braun, CEO of financial services company wirecard, attends the earnings press conference in Munich, Germany. Prosecutors in Germany say that the former CEO of the payments company Wirecard has been arrested in an accounting scandal that centers on a missing sum of 1.9 billion euros, or 2.1 billion dollars. Markus Braun resigned on Friday after the company disclosed that auditors couldn't find accounts containing the money.(AP Photo/Matthias Schrader, file)

Wirecard goes bust as scandal puts focus on German oversight

Jun. 25, 2020 8:41 AM EDT

FRANKFURT, Germany (AP) — An accounting scandal at one of Germany’s fastest-growing blue-chip companies has raised doubts about the national financial watchdog and, coming on top of other high-profile cases of fraud, led to questions about the country’s ability to oversee its corporate...

FILE - In this Thursday, April 25, 2019 file photo, Markus Braun, CEO of financial services company wirecard, attends the earnings press conference in Munich, Germany. Prosecutors in Germany say that the former CEO of the payments company Wirecard has been arrested in an accounting scandal that centers on a missing sum of 1.9 billion euros, or 2.1 billion dollars. Markus Braun resigned on Friday after the company disclosed that auditors couldn't find accounts containing the money.(AP Photo/Matthias Schrader, file)

Wirecard scandal puts spotlight on German company regulation

Jun. 24, 2020 4:34 PM EDT

FRANKFURT, Germany (AP) — An accounting scandal at one of Germany’s fastest-growing blue-chip companies has raised doubts about the national financial watchdog and, coming on top of other high-profile cases of fraud, led to questions about the country’s ability to oversee its corporate...

FILE - In this Thursday, April 25, 2019 file photo, Markus Braun, CEO of financial services company wirecard, attends the earnings press conference in Munich, Germany. Prosecutors in Germany say that the former CEO of the payments company Wirecard has been arrested in an accounting scandal that centers on a missing sum of 1.9 billion euros, or 2.1 billion dollars. Markus Braun resigned on Friday after the company disclosed that auditors couldn't find accounts containing the money. (AP Photo/Matthias Schrader, file)

Ex-CEO of Wirecard arrested in scandal over missing billions

Jun. 23, 2020 11:10 AM EDT

BERLIN (AP) — The former CEO of German financial technology company Wirecard has been arrested on suspicion of misrepresenting the firm's finances in an accounting scandal that centers on a missing 1.9 billion euros ($2.1 billion), prosecutors in Munich said Tuesday. Markus Braun resigned on Friday after...

A stockbroker sits in front of a screen with news about the payment service provider Wirecard at the Frankfurt Stock Exchange in Frankfurt, Germany, Monday, June 22, 2020. Germany payment service provider Wirecard AG says it has concluded that two accounts that were supposed to contain 1.9 billion euros (2.1 billion dollars) probably don’t exist. (Arne Dedert/dpa via AP)

Wirecard scandal: Missing billions likely don't exist

Jun. 22, 2020 11:29 AM EDT

BERLIN (AP) — German payment service provider Wirecard said Monday it has concluded that 1.9 billion euros ($2.1 billion) which were supposed to be held in two accounts probably don't exist, deepening troubles that last week prompted the resignation of its chief executive. Wirecard AG was once regarded as...

FILE - In this  Thursday, April 25, 2019 file photo the logo of financial services company wirecard is pictured at the headquarters in Munich, Germany. Shares in German payment service provider Wirecard AG plunged Thursday as the company announced it was postponing its delayed annual report yet again. (AP Photo/Matthias Schrader, file)

Wirecard CEO quits after auditors can't find $2.1 billion

Jun. 19, 2020 12:16 PM EDT

FRANKFURT, Germany (AP) — The chief executive of German payment service provider Wirecard AG resigned on Friday after the company disclosed that auditors could not find 1.9 billion euros ($2.1 billion) in cash, adding to the accounting woes of a firm once regarded as a star of the growing financial...

Treasury Secretary Steven Mnuchin speaks during a Senate Small Business and Entrepreneurship hearing to examine implementation of Title I of the CARES Act, Wednesday, June 10, 2020 on Capitol Hill in Washington. (Al Drago/Pool via AP)

Treasury chief refusing to disclose recipients of virus aid

Jun. 13, 2020 12:34 AM EDT

WASHINGTON (AP) — Building ramparts of secrecy around a $600 billion-plus coronavirus aid program for small businesses, Treasury Secretary Steven Mnuchin has moved from delay to denial in refusing outright to disclose the recipients of taxpayer-funded loans. Mnuchin told Congress at a hearing this week...

Treasury Secretary Steven Mnuchin speaks during a Senate Small Business and Entrepreneurship hearing to examine implementation of Title I of the CARES Act, Wednesday, June 10, 2020 on Capitol Hill in Washington. (Al Drago/Pool via AP)

Treasury chief refusing to disclose recipients of virus aid

Jun. 12, 2020 6:30 PM EDT

WASHINGTON (AP) — Building ramparts of secrecy around a $600 billion-plus coronavirus aid program for small businesses, Treasury Secretary Steven Mnuchin has moved from delay to denial in refusing outright to disclose the recipients of taxpayer-funded loans. Mnuchin told Congress at a hearing this week...

FILE - In this Feb. 26, 2015, file photo, students walk on the University of California, Los Angeles campus. A UCLA professor who was suspended following an email exchange with a student who wanted a final exam altered or canceled because of racial unrest, says his refusal to do so has nothing to do with racism. (AP Photo/Damian Dovarganes, File)

UCLA professor: No racism in refusing to cancel final

Jun. 10, 2020 9:26 PM EDT

LOS ANGELES (AP) — A University of California, Los Angeles, professor suspended over an email exchange with a student who wanted a final exam canceled or changed because of racial unrest said he’s receiving threats and wants his "reputation restored" after what he calls unfounded allegations of...

FILE - In this May 3, 2020, file photo, light shines from inside the U.S. Capitol dome at dusk on Capitol Hill in Washington. (AP Photo/Patrick Semansky)

Senate passes fix for small-business coronavirus relief

Jun. 3, 2020 8:44 PM EDT

WASHINGTON (AP) — The Senate on Wednesday passed legislation to make it easier for businesses struggling during the coronavirus pandemic to take advantage of a payroll subsidy program that's been a central part of Washington's response to the corresponding economic crisis. The Senate passed the bill by...