David Maister Offer
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Prosecutors want jail now for Madoff
Bernard Madoff, arrested December 11 after allegedly confessing to running a $50 billion Ponzi scheme, may now face jail pending his trial, as prosecutors say he violated a court agreement by mailing jewelry and other valuables worth more than $1 million to relatives and friends. |
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Marcum & Kliegman LLP forms Madoff task force
Marcum & Kliegman LLP has announced that it has formed a task force to advise investors who may have been defrauded by Bernard L. Madoff and his investment business, Bernard L. Madoff Investment Securities LLC. Marcum & Kliegman's task force will focus on the tax and accounting as well as the non-tax issues facing those who invested with Madoff and his firm. |
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Madoff victims may recover some losses
Investors who have lost large sums of money in Bernard Madoff's alleged $50 billion fraud may be able to recover some of their losses by taking steps including making claims through the Securities Investor Protection Corp. (SIPC), taking advantage of the theft-loss deduction, or ultimately filing suit against whatever assets Madoff still has. But the alleged fraud serves to highlight the risks inherent in reliance on one type of investment, often little understood, and on an investment adviser who manages to avoid scrutiny, and can easily access funds in investor accounts for transactions. |
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Advising clients in the wake of Madoff revelations
CPAs who are being bombarded with questions about the impact of the Bernard Madoff scandal are trying to reassure clients. Consider comments made to MarketWatch columnist Chuck Jaffe: “I've worked with my adviser for years," said Ted L., a 60-somethin... |
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Quickoffice releases Excel editing capabilities for iPhone
Quickoffice, Inc., a global provider of mobile office productivity software, has announced the release of MobileFiles Pro, the first application to include editable Office functionality for the iPhone and iPod Touch. The latest upgrade brings comprehensive editing and saving of Microsoft Office Excel files in the .xls format, Wi-Fi file transfer to and from a desktop (Mac and PC), and the ability to access and synchronize with Apple MobileMe accounts. |
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A look back at famous tax cheaters of 2008
For tax cheaters, 2008 was not a good year. Celebrities, sports figures, and other famous people who underestimated the IRS may wish they could have a do-over for some of their previous activities. |
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UHY remembers the doggies during the holidays
Shelter dogs in the New Haven, Connecticut area will have plenty to woof about this New Year. They will be the happy recipients of doggie goodie bags donated by the New Haven office of UHY LLP and UHY Advisors, Inc. |
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IRS Releases Final Form 990 and Instructions
The Internal Revenue Service announced on December 24 that it has released the final versions of the 2008 Form 990, Return of Organization Exempt From Income Tax, Form 990-EZ, Short Form Return, schedules and instructions effective for 2008 tax year... |
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The state of IPOs
It's hardly news that the global IPO market took a rough tumble this year, but the extent of the damage is stunning. Through November, the number of deals worldwide plummeted nearly 60 percent compared with the first 11 months of 2007, from 1,790 to 745,... |
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U.S. distribution companies face strategy changes
According to a report prepared by RSM McGladrey, executives of U.S. wholesale-distributors have altered their growth and operational strategies to offset related sector weaknesses and the rising costs of doing business, mainly associated with labor and energy. While these strategies have helped to maintain a moderate outlook regarding business conditions, there are some under-utilized opportunities that can bolster the standing of many companies. |
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IRS offers lien relief for financially distressed homeowners
The Internal Revenue Service has announced an expedited process that will make it easier for financially distressed homeowners to avoid having a federal tax lien block refinancing of mortgages or the sale of a home. |
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Humbug! IRS tells senior citizens to end year with retirement withdrawal
The Internal Revenue Service has adopted a Scrooge-like attitude for the holiday season, deciding not to give a break to retirees who must withdraw funds from tax-deferred accounts. |
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Additional education tax credits available for some students
For certain students and the parents of certain students, there could be additional tax relief available on their 2008 tax return in connection with tuition paid by December 31, 2008. |
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Staples stores offer QuickBooks 2009 for free for one day only
Intuit and Staples are running a very special deal for small business owners. For one day only, QuickBooks Pro 2009 will be free at all Staples stores. Intuit wants to help small businesses through tough economic times. |
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Illinois CPAs provide free tax services to members of the armed forces
In a show of appreciation to members of the U.S. Armed Forces and their families for their dedicated service, the Illinois CPA Society is once again partnering with the Internal Revenue Service to offer the Military Service Tax Preparation Project. The program, now in its sixth year, provides free personal income tax return filing assistance to members of the U.S. Armed forces who have recently returned or are still serving in a combat zone or qualified hazardous duty area. |
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Economy puts damper on holiday parties, bonuses
The number of corporate holiday parties has reached a 20-year low this year, according to an annual survey conducted by Battalia Winston Amrop, an executive recruitment firm. |
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SEC releases final rules mandating XBRL
The U.S. Securities and Exchange Commission has approved final rules which require companies to submit Financial Statements in XBRL format with their SEC filings. |
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American University establishes public finance research center
American University's School of Public Affairs in Washington D.C. has announced the establishment of its newest research center, the Center for Public Finance Research (CPFR). Led by top scholars from the School of Public Affairs and the D.C. policy community, the center offers research and education in public budgeting and finance, public financial management, public economics, and benefit-cost analysis at the local, regional, national, and international levels. |
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AICPA improves CPE online grading site
The AICPA has announced major improvements to its Online Grading Web site for CPE self-study courses. The upgrade of the AICPA CPE Online Grading site was done in collaboration with CPA2Biz, Inc., the marketing and technology subsidiary of the AICPA. The enhancements include a modern new design, improved navigation, new features to the exam, and a simplified login process. |
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Maryland accounting firms announce merger
The Gaithersburg, Maryland accounting firms of DeLeon & Stang and Berger & Hillman recently announced a merger. Effective December 31, 2008, Berger & Hillman will be recognized as DeLeon & Stang. |
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