This week in Business and Legal News:

CPAs and Tax attorneys, make sure to let your clients know that they will be able to set aside an extra $500 in 401(k) plans and benefit from an additional $120,000 estate tax exemption in 2012, under cost-of-living adjustments announced by the Internal Revenue Service.

Fortune Magazine’s 40 Under 40 list of ‘businesses hottest rising stars’ is out and includes Bridgewater’s CEO Greg Jensen and Erin Burnett. Did you or your client make the list?

Libya’s Muammar Qaddafi died yesterday, after over 40 years of ruling the divided country.

The “Big Four” accounting firms’ dominance over corporate audits in Britain will be investigated after an antitrust regulator said the market is bad for customers and small competitors.

Be careful what you write! A central piece of evidence against Citigroup Inc. that led to a $285 million settlement with the Securities and Exchange Commission is an e-mail message from a former employee to his supervisor.

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