A Mesa, Ariz., man who stole from a tax preparer who conducted a Ponzi scheme was sentenced to 63 months in prison for his role in money laundering and defrauding the Internal Revenue Service. Wayne A. Mounts and his co-defendant, Gino Carlucci, were convicted in a trial in July for stealing large sums of money from tax preparer, Joseph Flickinger, who went to prison for mail and wire fraud, and from Flickinger's clients and associates. The two also set up Flickinger for arrest.

Intuit is getting ready to release a mobile application that will enable iPhone users to utilize information from its Tax Online (formerly known as Proline Tax Online). The company's website says more information will be available mid-month. Read more...

A San Francisco CPA firm has been censured by the Public Company Accounting Oversight Board. The board also levied a $2,000 penalty against Reuben E. Price & Co. for failing to file annual reports for 2010 and 2011 and pay fees for those years. Reuben E. Price & Co., which is owned by CPA Richard A. Price, withdrew its PCAOB registration after complying with the PCAOB reporting requirements and paying fees.

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