California news

Tax

Tax preparer performance standards to be discussed at public forum

Public forum will address review of paid preparers and produce recommendations to boost taxpayer compliance.
2014

John Dunleavy, former CalCPA CEO, dies

John Dunleavy, who led both the California CPA Education Foundation and the California Society of CPAs, has died. He was 68.
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Tax

House swapping becoming popular in a down market

House swapping has moved beyond vacation home swapping to what is often called “permanent swapping,” that is, homeowners are now trading their principal residences.
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A&A

Could accounting standards be the next political football?

Accountants who attended the annual meeting of the American Accounting Association had some weighty questions for their guest, Barney Frank.
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Tax

Nicolas Cage in tax trouble again

When it comes to income taxes, Nicolas Cage can’t catch a break.
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Community News

FEI announces 2009 Hall of Fame inductees

Financial Executives International (FEI) has announced today inductees for the 2009 class of the FEI Hall of Fame.
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Tax

Chris Tucker, star of "Rush Hour." gets a hefty tax bill from Arnold Schwarzenegger

Chris Tucker just got a bill from the cash-strapped state of California for $3,594,409. A lien was filed against him in Sacramento County Court on June 24th.
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XBRL US announces key findings

XBRL US announced key findings from its first-ever XBRL US Pacific Rim Technology Workshop last week in Santa Clara, California.
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Is peer review all it's cracked up to be?

Some call it “auditing the auditors.” On a regular basis, professionals cross check each other. That sounds like a good thing. But is it?
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Education & Careers

Top business and accounting graduate schools ranked

For everything, there is a ranking. Accounting and business schools are no exception.
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Tax

Rappers Foxy Brown and Toni Braxton face tax liens

Singers Foxy Brown and Toni Braxton reportedly face hefty tax liens, ranging from $79,315 for Braxton to $641,558 for Brown.
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Tax

Screaming IRS agent goes to jail

Few things are certain in this life. There's death, and of course we all have to pay our taxes. Here’s a third rule to live by: it is never a good idea to scream death threats at federal agents.
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Workplace Fitness

Lawmakers consider employer role in controlling obesity

As American waistlines expand, there's little surprise that this public health issue poses a challenge to the nation's employers. In some states, including New York and California, government regulators are stepping in to urge businesses to take action.
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Bullying in the workplace is an international issue

If you thought you left bullying behind along with jump ropes and gym uniforms, think again. The Workplace Bullying Institute, yes there is such a thing, reported last year that 37 percent of the U.S workforce or 54 million employees are being bullied now or have been bullied at the workplace at some point during their careers.
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Students help nonprofits during intense BAP competition

Take 50 college students who don't know each other, add several complicated business challenges, give them 12 hours, and what do you get at the end?
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Churches vs. the IRS: Showdown on Pulpit Freedom Sunday

Last Sunday, parishioners in churches across the country may have been wondering if their hymns would be replaced by the theme song from "The Good, The Bad, and The Ugly," as their pastors pushed for an IRS showdown. They called it Pulpit Freedom Sunday. Backed by the Arizona-based Alliance Defense Fund, 33 pastors in 22 states deliberately violated the IRS regulation that says churches and other not-for-profits cannot substantially participate in politics by endorsing or opposing a candidate.
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TIGTA auditors go undercover to determine reliability of unlicensed tax preparers

A growing number of U.S. taxpayers are relying on tax preparers to file their returns. For the 2007 tax year, that meant 83 million returns, or more than half of all taxpayers. What troubles the Treasury Inspector General for Tax Administration (TIGTA) is, there is no federal standard regulating this profession. No specific training or education is required and only two states – California and Oregon demand that tax preparers be licensed and have continuing education. That's why legislation has been proposed in Congress that will provide oversight of tax preparers.
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Under new management: Freddie Mac and Fannie Mae

A lot of people saw it coming... and wondered why the powers that be at Freddie Mac and Fannie Mae didn't. Between the two finance companies, they hold or guarantee about 50 percent of mortgage debt in the United States, worth around $5 trillion. On Sunday, September 7th, the government seized control of both companies in an effort to stabilize them, and more importantly, to protect homeowners whose mortgages are owned by them.
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Sales tax holidays: Love them or hate them?

More than a dozen states and the District of Columbia have sales tax holidays that last at least a couple of days each year, some last much longer. Usually the holiday coincides with back-to-school time to give parents a break on outfitting their kids with necessities. What consumers can buy during the sales tax holidays varies by state, but generally includes clothing, shoes, classroom supplies, and computers, often with a dollar limit. Another popular item that pops up in sales tax holidays is energy efficient appliances for the home.
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KPMG sponsorship brings baseball to inner city children in Los Angeles

Major League Baseball will host the 16th annual Reviving Baseball in Inner Cities (RBI) World Series presented by KPMG at venues throughout the Los Angeles area, including the MLB Urban Youth Academy in Compton, California, August 6-17. The RBI World Series is the championship round of the RBI program, the Major League Baseball youth baseball and softball initiative presented by KPMG LLP. "As we launch the 16th annual RBI World Series, it is important to note that these games feature more than just great baseball and softball," said Allan H. (Bud) Selig, Commissioner of Baseball.
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Pages

Voice of the Editor

Results from a recent AICPA survey disclosed the two top priorities for CPA firms as they plan for the future: bringing in new business and finding talent. Our goal at Sift Media is to help our readers deal with the issues most important to them. One way in which we are doing this is through the launch of our new recruitment/placement service, Going Concern Jobs. Check it out today for your talent needs.
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Gail Perry, CPA
Publisher/Editor-in-Chief, AccountingWEB
editor@accountingweb.com
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