Iowa news

Tax

Internet Sales Tax Clears Senate Hurdle

New legislation authorizing the states to collect sales tax from companies peddling their wares online breezed through the Senate on May 6 by a wide 69-27 margin. But the Marketplace Fairness Act is expected to face much tougher opposition in the Republican-controlled House of Representatives.
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Tax

Is This the Year for Tax Reform?

Is 2013 shaping up to the year of tax reform? "There are more proposals this year than we have seen in the last five years, and an unprecedented number of major state tax reform proposals," said Harley Duncan, a managing director at KPMG.
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Tax

Colleges Gear Up for Volunteer Income Tax Assistance Season

College students, eager to get a taste of the accounting profession, are once again turning out to assist low-income taxpayers file their tax returns through the IRS Volunteer Income Tax Assistance (VITA) program.
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Education & Careers

Scholars Receive American Accounting Association Award

This January, the American Institute of CPAs (AICPA) and Chartered Institute of Management Accountants (CIMA) announced the recipients of the American Accounting Association's (AAA) Greatest Potential Impact on Management Accounting Practice Award for 2012.
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Education & Careers

Top Cities for Best Salary Raises

Workers in a majority of metropolitan areas received substantial raises from 2010 to 2011. Cities with greater concentrations of college graduates did even better, according to data from the Martin Prosperity Institute.
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Tax

Two Tax Deadbeat Rappers

Two popular Rap artists, Flavor Flav and Bubba Sparxxx, are in big trouble with the IRS. They both owe big bucks for neglecting to pay their taxes.
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Tax

Nurses Rally for a New Wall Street Tax

The liquor and tobacco industries are frequent targets of "sin taxes" aimed at drumming up revenue from sources that cater to certain vices. But the latest call for a sin tax is directed at a group that's decidedly more button-down than bootleggers and barkeeps: Wall Street brokers.
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Tax

Maryland CPAs Are Fighting Proposed Tax on Professional Services

Maryland CPAs are mounting a coordinated effort to fight a proposed sales and use tax on professional services that will specifically apply to management consulting and tax preparation services. Lawmakers in Maryland have proposed the measure as one way to solve their budget problems.
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Tax

GOP Tax Debate Could Coalesce around Ron Paul's Ascension in Primaries

Despite his decisive second-place finish in the New Hampshire primary and his strong third-place showing in the Iowa caucus, there are still some political pundits who question whether Ron Paul, who was initially a middle-of-the pack candidate, is a viable contender for the GOP presidential nomination.
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Election 2012

Some CPA Analysts Question if Romney's Tax Reform Approach Will Fly

Some Republican candidates' tax reform platforms have spurred discussion and controversy, but Mitt Romney's "Believe in America" plan for jobs and economic growth has drawn relatively little discussion. One CPA analyst argues that Romney is "staying status quo on the personal side of the tax equation."
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A&A

NC State University Students Win AICPA National Accounting Competition

On December 17, the AICPA named seventeen students from North Carolina State University winners of the AICPA National Accounting Competition. The case competition focused on a fictional Texas company looking to expand its business into the Nigerian oil fields. The team received a $10,000 award.
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Election 2012

Gingrich Says He'll Reduce Taxes and Reform Government Regulations

When asked by Diane Sawyer during the December 10 GOP debate about his "distinguishing idea" to create jobs and bring jobs back from overseas, Gingrich stuck close to his "pro-growth Jobs and Prosperity Plan," which advocates lowering taxes and reforming government regulations to grow the American economy.
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Technology

Thomson Reuters NetClient CS Users Share Client Portal Experiences

There used to be a time when financial professionals at tax and accounting firms spent hours of their time in back offices copying returns in triplicate or communicating with their clients through daylong games of phone tag or trips to the post office.
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Education & Careers

PCAOB selects academic institutions to receive scholarships for 2011-2012 year

Accounting students from 52 undergraduate and graduate institutions will be the recipients of scholarships awarded by the Public Company Accounting Oversight Board (PCAOB).
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Tax

IRS filling vacancies on Taxpayer Advocacy Panel

The Internal Revenue Service is seeking civic-minded volunteers to serve on the Taxpayer Advocacy Panel (TAP), a federal advisory committee that listens to taxpayers, identifies key issues, and makes recommendations for improving IRS service.
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Tax

Tax Foundation releases state business tax index

South Dakota's tax system is most welcoming to economic activity while New York's tax code ranks 50th as the least hospitable, according to the Tax Foundation's most recent edition of the State Business Tax Climate Index, which ranks the tax systems of the 50 states.
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Tax

Minnesota CPA Society hosts largest tax conference in upper Midwest

Fifteen hundred CPAs from Minnesota, Wisconsin, Iowa, and the Dakotas are attending the 56th Annual MNCPA Tax Conference. The two-day event offers more than 40 tax-related sessions presented by tax experts from across the country.
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Tax

Revenue worries don't stop states from offering tax holidays

Taxpayers in 16 states will get sales tax breaks on the purchase of various school-related purchases during certain dates in July and August.
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A&A

Bloomberg poll: Investing in the United States is a good idea

In the world of investments, BRICs are the large emerging markets made up of Brazil, Russia, India, and China. Just months ago a poll of global investors rated the United States well below China and Brazil as an attractive market to buy into.
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A&A

Keeping illegal immigration issues on ICE: U.S. immigration and customs enforcement shifts focus to employers

The images tend to be memorable and camera-friendly – federal agents stage a well-publicized bust on a manufacturing or meat-packing plant and cart off hundreds of undocumented workers.
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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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