News

Education & Careers

BDO and Ernst & Young Named Top Workplaces for Recent Grads

BDO USA LLP and Ernst & Young LLP were among twenty-five companies that were included in the Best Places to Work for Recent Grads 2013 report from ConnectEDU Inc., a technology company committed to transitioning learners from school to college to career.
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Practice

Survey Finds Small Businesses Slowly Increasing Economic Activity

Small business owners are showing a willingness to hire more employees amidst signs of expanding business activity, according to the most recent Business Confidence Survey released by Insperity, Inc., a provider of human resources and business performance solutions.
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Practice

The Tools That Build Brands

What identity do you want your firm to have? What do you want people to think of when they hear the name of your firm? Once you've identified your firm's desired positioning, the next step is to plan the branding strategy that will make it a reality.
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Tax

New Orleans Saints Coach Sean Payton Settles Tax Credit Lawsuit

Twenty-seven investors, including Saints coach Sean Payton, wanted to reduce their overall state income tax liabilities by investing in movie production tax credits. But the film studio was defunct, and the tax credits didn't exist.
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Practice

Three Indicators of Creditworthiness for Your Business Clients

Are your business clients applying for a loan? Sageworks Research Specialist Mary Ellen Biery outlines three indicators of creditworthiness and how your clients can improve them.
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Practice

Company Announcements: Week of May 20, 2013

Following is the latest roundup of community news for the week of May 20, 2013.
650
Tax

IRS Is Sued for Seizing Medical Records

The IRS has come under fire recently for reportedly authorizing intrusions into e-mails and online postings without obtaining a search warrant. Now it appears medical records might not be safe from the prying eyes of the nation's tax collection agency.
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Tax

IRS to Refund Tax Preparers for Canceled Certification Tests

The IRS announced on May 16 that it's issuing refunds to tax return preparers who registered for certification tests that were canceled due to a court-ordered injunction in late March. Fees collected from tax preparers who tested on or after January 18, the date the tests were enjoined, are also being refunded.
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Technology

Farewell, Lotus 1-2-3

IBM recently announced that Lotus 1-2-3 will no longer be available for purchase. Most readers of this article will likely have one of two reactions: "What is Lotus 1-2-3?" or "Lotus 1-2-3 was still on the market?"
860
Tax

Obama Names Daniel Werfel Acting IRS Commissioner

The current controller of the US Office of Management and Budget has been appointed by President Obama as the new acting commissioner of the IRS, effective May 22. Daniel Werfel will take over the position vacated by Steven Miller, who resigned on May 15.
761
Technology

Are Mobile Devices Causing a Digital Divide in the Workplace?

Each day when Bill Walter hops on the elevator in the building that houses his CPA firm, a majority of the people riding with him have their smartphones in hand – checking e-mails or surfing the Internet – before arriving at their particular floors.
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Education & Careers

Summer Construction: Rochester CPAs Ramp Up Fundraising to Build Habitat Home

The CPA community in Rochester, New York, is channeling its naturally competitive spirit into selfless cause this summer. They're trying to see who can raise the most money to break ground on a local Flower City Habitat for Humanity (FCHH) home.
448
Tax

California Keeps the Kings and Millions in Tax $$

UPDATE: The battle with Seattle is over. For twenty-seven months, a group led by hedge fund manager Chris Hansen and Microsoft CEO Steve Ballmer have pursued the Sacramento Kings, hoping to move them north to become the Seattle SuperSonics. But on May 15, the NBA Board of Governors voted down the sale.
3813
Tax

Crime Watch: May 16, 2013

A man who perpetrated a million-dollar investment fraud from California that defrauded New Jersey victims was sentenced May 14 to forty-six months in prison for crimes related to the scheme, US Attorney Paul J. Fishman announced.
649
Tax

IRS Acting Commissioner Steven Miller Resigns Over Scandal

Steven Miller, a twenty-five-year veteran of the IRS who has been the agency's acting commissioner since November 2012, resigned from his post on May 15, less than a week after the IRS admitted to and apologized for improperly scrutinizing the federal tax-exempt status of conservative groups.
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A&A

Hewlett Packard Faces $1 Billion Lawsuit from Shareholders

Hewlett Packard (HP) shareholders are suing the company for $1 billion over the "vastly overvalued" acquisition of the British software firm Autonomy. According to claims brought against the multinational, HP tried to pull out of its $11.1 billion takeover of Autonomy before the deal closed.
1208
Tax

Tax Breaks for Film Producers Lure 'Star Wars' to United Kingdom

It was recently announced that Walt Disney Company–owned Lucasfilm Ltd. is planning to shoot and produce the next Star Wars movie in the United Kingdom. Chancellor George Osborne said the announcement is "clear evidence" the country's film tax incentives are working.
1030
Tax

IRS Grant Helps Organizations Provide Free Tax Help to Seniors

The IRS TCE program offers free tax help to individuals who are sixty or older. The IRS provides grants to eligible organizations, which use the funding to purchase equipment and to reimburse volunteers for out-of-pocket expenses.
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Tax

Justice Department Investigating IRS' Targeting of Conservative Groups

Attorney General Eric Holder is scheduled to testify before the House Judiciary Committee, one day after he announced the Justice Department has opened a criminal investigation of the IRS for improperly scrutinizing the tax-exempt status of groups with conservative titles, such as "tea party" or "patriot," in their applications.
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Tax

GAO Identifies Weak Links in IRS' Internal Controls

It hasn't been a very good week for the IRS. First, a firestorm has erupted over its efforts to target conservative "tea party" groups applying for tax-exempt status. Now the Government Accountability Office (GAO) has released a new report saying that the IRS has to improve its internal controls.
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Pages

Voice of the Editor

Even though any accounting auditor would tell you it seems like there are an awful lot of tax accountants out there, surely one-third of the country isn't made up of tax preparers, so it's rather startling news to learn that one-third of Americans like to do their taxes. Who knew?
Read more
Gail Perry, CPA
Publisher/Editor-in-Chief, AccountingWEB
editor@accountingweb.com
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This Week on AccountingWEB

Bill Walter of Gross, Mendelsohn & Associates and Harold Gaar of TravisWolff LLP weigh in on mobile technology use while employees are at work.
WestArk RSVP and Fayette County Community Action Agency – organizations that received grant funding through the IRS Tax Counseling for the Elderly (TCE) program – spoke with AccountingWEB about how they assist senior citizens in their communities.
CPA Robert Raiola, who heads the Sports & Entertainment Group of Fazio, Mannuzza, Roche, Tankel, LaPilusa, LLC, talks NFL player income taxes with AccountingWEB.
Retiring KPMG Centennial Professor of Accounting at the University of Texas at Austin McCombs School of Business Robert May, PhD talks with AccountingWEB about his rewarding forty-three-year career.
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