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  • Hiring,Job,Employment,Classifieds,Hire

    Congress approves jobs bill second time around

    A new bill – with a price tag of $17.6 billion and a prediction of creating 250,000 jobs – is on its way to President Obama for his signature. It’s the Hiring Incentives to Restore Employment, or HIRE Act.
  • star-tax.jpg

    Oscar swag bags loaded with taxable goodies

    Even if you never watch Hollywood’s seemingly endless lineup of awards shows, you’re probably aware that the celebrities who appear on those programs are thanked with gift bags loaded with expensive items.
  • capitol.jpg

    Senate moves to protect small business from unfair penalties

    Small businesses get a break in the form of an extended moratorium on penalties related to tax shelters. Since last summer the IRS has been extending the moratorium a few months at a time.

Blame the economy: More workers are getting to work on time

03/17/2010 - 20:19 - 245 reads
close_up_of_clock_hands
A tighter job market may be contributing to increased punctuality at work. A new survey reveals that 16 percent of workers said they arrive late to work at least once a week, down from 20 percent in last year's survey.

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High 401(k) plan fees continue to deplete retirement savings balances

03/17/2010 - 19:59 - 387 reads
401kRetireInvest_featured.jpg
Despite the U.S. stock market's recovery, Americans are still struggling to make up for the historic losses sustained in their 401(k) plans over the past two years. One main obstacle employees face as they struggle to save is hidden, high 401(k) plan fees.

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IRS issues list of Dirty Dozen tax scams

03/17/2010 - 19:21 - 261 reads
IRS,bulldog
The Internal Revenue Service has issued its 2010 “dirty dozen” list of tax scams, including schemes involving return preparer fraud, hidi...

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AICPA and Accountemps to provide five scholarships for accounting students

03/17/2010 - 18:46 - 324 reads
graduation grad college education school
The AICPA and Accountemps are accepting applications for the 2010-2011 AICPA/Accountemps Student Scholarship. Five individuals will receive $2,500 each for tuition expenses.

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Crowe Horwath takes first place in Public Accounting Reports SEC audit rankings

03/17/2010 - 01:34 - 204 reads
Crowe,Horwath
Public Accounting Report named Crowe Horwath LLP, one of the largest public accounting and consulting firms in the U.S., the winner of its annual analysis of auditor changes for SEC entities.

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COBRA premium subsidy temporarily extended again

03/16/2010 - 22:34 - 310 reads
medical-health
On March 2, 2010, President Obama signed the Temporary Extension Act of 2010 (the “TEA”) extending the COBRA premium subsidy eligibility period for an additional month, through March 31, 2010.

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IRS wants new, controversial issues to dissect

03/16/2010 - 22:21 - 304 reads
irs_logo.jpg
The IRS wants business taxpayers, associations, and other interested parties to submit to the Industry Issue Resolution (IIR) Program tax issues for resolution involving a controversy, a dispute or an unnecessary burden on business taxpayers.

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Money matters: CFOs say bonuses reign as top employee reward

03/16/2010 - 13:26 - 296 reads
Money,Envelope
Despite lean budgets for many businesses today, most financial executives say cash is king in recognizing their teams' hard work.

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Update: Bad guys plead guilty in two separate cases

03/16/2010 - 10:05 - 290 reads - 1 comment
Litigation,Law,Court
Sherry Lynn Vertoch was arrested for posing as an agent of the Internal Revenue Service in order to gain free housing at a California hotel. If convicted, Vertoch could spend up to three years in prison.

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Lehman Bros. used aggressive accounting to hide borrowing

03/15/2010 - 16:41 - 395 reads
banking_money_european_flags
Anton R. Valukas, the U.S. bankruptcy court-appointed examiner of failed investment bank Lehman Bros., has found that the company used “materially misleading” accounting to make its balance sheet look stronger than it really was.

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For today’s leaders, EQ beats IQ

03/15/2010 - 10:19 - 203 reads
brain
It’s been extensively documented that EI skills are critical for successful leadership. In fact, they are more of an indicator of success than technical skills or analytical reasoning skills (IQ).

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Guide your client to more competitive bankcard processing rates

03/12/2010 - 20:45 - 988 reads - 1 comment
credit-card-process.JPG
Bankcard processing has become very price competitive, yet many small business owners don’t know if their fees are in the competitive range. Here are some guidelines that will help you assist your clients to know where they stand.

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Accelerating cash flow during a credit crunch

03/12/2010 - 18:28 - 841 reads
Piggy,bank,savings,money
For cash-strapped companies, increasing cash flow is essential for staving off creditors and threats of involuntary bankruptcy actions. Companies struggling to increase cash flow tend to look to some common places for increasing operating cash.

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IRS announces qualified disaster treatment for Chile

03/11/2010 - 17:27 - 774 reads
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The Internal Revenue Service this week issued guidance designating the February earthquake in Chile as a qualified disaster for federal tax purposes.

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Citibank apologizes after exposing 600,000 Social Security numbers

03/11/2010 - 11:08 - 4051 reads - 1 comment
Mail
More than half a million Citibank customers received mail from the credit card company with their Social Security number printed on the outside of the envelope.

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Basketball and income tax: An unlikely pair? Not necessarily

03/11/2010 - 10:35 - 985 reads - 1 comment
Tax,Return,preparation
What does it take to get spectators in the seats at a New Jersey Nets basketball game? The latest promotion is to give away free state tax preparation by well-known tax professional Roni Deutch.

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Partners News

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AmEx CEO Ken Chenault on How Regulation Impacts the Payments Industry

Recently, David S. Evans, Editor in Chief, interviewed Ken Chenault, Chairman and CEO of American Express. Chenault weighs in on how the economy and government regulation will impact the payments industry, and how American Express will navigate these tricky waters. READ MORE >>

IRS Extends Comment Deadline To June 1 On Uncertain Tax Positions Proposal

FEI's Washington DC Government Affairs office reports that the Internal Revenue Service is giving interested parties more time to submit comments on its recent proposal to require companies to disclose information about their uncertain tax positions.  
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Whether you are new to tax preparation or a seasoned accountant providing tax preparation services to clients, you've probably given thought to what tax software makes the most sense for you to use. As you prepare for the upcoming tax season, we think it might be useful for you to learn about some of the various programs on the market, and thus we are proud to present our Tax Software Review.

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Gail Perry, CPA
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editor@accountingweb.com

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Book of the Week

Fitness 9 to 5: Easy Exercises for the Working Week by Shirley ArcherFitness 9 to 5: Easy Exercises for the Working Week  by Shirley Archer

The latest trend in fitness for the overworked and underexercised? The office cubicle, of course! Fitness 9 to 5 is the perfect antidote to long hours hunched over a desk and missed dates with the gym.