The Internal Revenue Service has released specifications for the competency test individuals must pass to become a Registered Tax Return Preparer. The 120-question tests offers a combination of multiple choice and true-or-false format. The IRS listed major topics that will be covered by the examination. Individuals with a provisional tax preparer identification number are not required to pass the exam until Dec. 31, 2013.

A group called Social CPAs is seeking accountants' opinions about the use of social media. The group, lead by CPA Barry MacQuarrie, is closing out its second annual survey on Friday September 2. As with last year's survey, the 2011 version asks which sites accountants use and how they use them. Read more...

Martin Mucci, who became CEO on September 30, drew $3.3 million in compensation for Paychex year ended May 30. Mucci had previously served as SVP of operations and drew $1.3 million in pay for fiscal 2010. His big boost in the new job came from a $1.2 million stock award. Read more...