Community News news May 2007

Community News

Somerset CPAs Among Indiana's Best Places to Work

Somerset CPAs recently received the honor of being No. 7 on the list of “Best Places to Work in Indiana” of small to medium-sized companies as announced by the Indiana Chamber of Commerce. Somerset ranked No. 15 on the same list in 2006. During his announcement to the firm’s employees, Pat Early, president of Somerset CPAs, stated “Just being on the list with so many other great Indiana companies is a testament to the work environment we have created here at Somerset.
Tax

Texas to Offer Taxpayer Amnesty

Taxpayers in Texas will have the opportunity to take advantage of a tax amnesty program this summer.Between June 15 and August 15 the Comptroller will waive penalties and interest on all delinquent tax payments except unclaimed property and the Public Utilities Commission gross receipts assessment.Not surprisingly, amnesty will not be granted for taxpayers currently under audit or review, or those who have already been contacted by the Comptroller about a possible deficiency.
Community News

CCH Partners with Financial Navigator

CCH and Financial Navigator announced a strategic partnership agreement to deliver a complete solution to financial professionals serving high-net-worth clients. CCH is a Wolters Kluwer business and a provider of tax and accounting information, software and services.
Community News

Tofias PC Honored As A '2007 Best Places to Work'

The Boston Business Journal has honored Tofias PC as one of the “2007 Best Places to Work” in Massachusetts in its fifth annual awards program.
Practice Management

Abalos & Associates Add Partner

Sandy Abalos, managing partner of Abalos & Associates, PLLC, a full service CPA firm specializing in small and mid-size businesses, has announced that Cheryl Folkerth has been named a partner in the firm, joining Abalos and Barry Friefield.In this position, Folkerth will manage major client engagements as well as develop the firm’s knowledge management system and its conversion to a near paperless office, which will enable staff to work remotely from locations outside of the main office.Her core expertise includes tax planning and preparation, directing financial statement preparation,
Community News

PCAOB: Ernst & Young Signed Without Evidence

A report issued by the Public Company Accounting Oversight Board states that Ernst & Young LLP appears to have signed off on some public-company audits without having sufficient evidence to support its opinion. The Associated Press reported that Ernst & Young defended its work while acknowledging that it agreed, in response to the findings, to perform additional procedures for some clients.
Community News

IRS Extends Deadlines for N.Y. & N.J. Storm Victims

The Internal Revenue Service announced tax relief for New Jersey and New York taxpayers in the Presidential Disaster Area that was struck by severe storms and flooding April 14-18, 2007.The disaster area consists of the following counties: Bergen, Burlington, Essex, Passaic, Somerset and Union in New Jersey and Orange, Rockland and Westchester in New York.Deadlines for affected taxpayers to file returns, pay taxes and perform other time-sensitive acts falling on or after April 14, 2007 and on or before June 25, 2007 have been postponed to June 25, 2007.In addition, the IRS will waive

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