Extensive information on like-kind exchanges has been added to Checkpoint Catalyst. New material on the Thomson Reuters research platform is available in Checkpoint Catalyst Topic 505 Like-Kind Exchanges, provides guidance on how to defer taxable gain by exchanging property held for productive use in a trade or business or for investment, for like-kind property.

Jack Weichman, a Munster, Ind., CPA, has been charged with 34 counts that follo earlier charges he stole more than $600,000 from a doctor to pay for his gambling debts. A superseding indictment charged Weichman with nine counts of bank fraud, fourteen counts of bankruptcy fraud, two counts of money laundering, four counts of wire fraud, and five counts of filing false federal income tax returns.

Mayer Hoffman McCann has been censured by the Securities and Exchange Commission. The CPA firm has been ordered to pay almost $757,000 in disgorged profits, prejudgment interest and civil money penalties. The firm drew the action because one of its audit clients invested in CBIZ, with which it is associated. The SEC views Mayer Hoffman and CBIZ as one entity for auditor independence purposes.

The boom in subscribers for Intuit's QuickBooks Online shows no sign of slowing. The company this week reported there were 965,000 subscribers for the Internet-based accounting system on April 30 when the third quarter of the current fiscal year closed. It would take a major setback for the number to not pass 1 million in the July quarter.