Washington DC news

Tax

IRS lien brings back an old scandal for Clinton friends

They are not movie stars, but the names of Harry Thomason and his wife, Linda Bloodworth-Thomason, are well known in Hollywood, in Washington, D.C., and now on the rolls of delinquent taxpayers.
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Practice Development

How to make the best of business development

Business development specialist Craig Weeks claims successful business development need not be an exercise in self-punishment. AccountingWEB interviewed him so you can decide for yourself.
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Tax

Average Joe or star athlete: The housing slump played no favorites

Rick Mahorn, former Detroit Piston and member of the 1989 NBA championship team, has hit hard times. In the last year Mahorn, 51, and his wife lost their home in Rochester Hills, Michigan, and filed Chapter 7 bankruptcy.
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National Association of Enrolled Agents installs new board members

The National Association of Enrolled Agents (NAEA), the organization that represents over 46,000 federally-licensed tax practitioners, has announced the installation of 14 members to its board of directors.
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A&A

Costly changes to 1099 reporting in health care law

In 2012, under a little discussed mandate of the health care reform legislation, businesses will be required to report all payments in excess of $600 for services or merchandise to the Internal Revenue Service on a Form 1099.
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A&A

New AICPA '360 Degrees of Financial Literacy' Web site debuts

The American Institute of Certified Public Accountants (AICPA) has debuted a new 360 Degrees of Financial Literacy Web site to provide Americans with personalized tools and information to better manage their finances and make intelligent financial decisions.
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Tax

Case of the cavalier Internal Revenue Service agent

Shouldn’t an Internal Revenue Service agent know a business when she sees one – especially if she is the owner and operator?
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Education & Careers

SIFE members' passion for business can be powerful force for change

Students In Free Enterprise, an international non-profit network of students, academics, and business leaders working with businesses and higher education organizations, is in the midst of its regional and national competitions.
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A&A

The downside of outsourcing

There are many arguments for and against outsourcing. But if you ask Anna Douglas, director of finance and treasurer for the Center for Applied Linguistics, chances are she will try to steer you away from the idea.
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Tax

Federal income tax: Who's paying and who isn't?

About half of the households in the United States pay no federal income tax, thanks in part to tax credits, deductions, and exemptions.
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Education & Careers

Intuit index: Wages, hours worked remain flat, supply of workers remains high

Small businesses continued to hire more employees in March, extending a trend that began in mid-2009, according to the monthly Small Business Employment Index from Intuit Inc.
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Tax

IRS continues audit trend away from large corporations and toward smaller businesses

The IRS has reduced the hours spent auditing large corporations by one-third since 2005 and at the same time has increased the hours spent on audits of small companies by 30 percent
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Tax

States scramble for tax revenue wherever they can find it

Imagine your state tax collectors hard at work…reading the entertainment news as part of their job description. State tax authorities always have used the media to track the cross-state earnings of sports stars, celebrities, and other wealthy individuals.
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Tax Administration, Tax Law and EAs

While enrolled agents are clearly--and reasonably--interested in legislative activity, much of what happens in Washington, DC of interest to taxpayers and practitioners happens administratively. As a result, we need to keep an eye on Capitol Hill and on 1111 Constitution Avenue (IRS headquarters, for those of you recently joining us).
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Education & Careers

Jobs least difficult to find in San Jose, CA, and Washington, D.C.

Times are tough all over, but finding employment is least difficult among the largest 50 U.S. cities in San Jose, California, and most difficult in the Detroit metropolitan area, according to the Job Search Difficulty Index released this month by Juju.com, an online job search engine.
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Tax

Threats to IRS increase after fatal plane crash

Internal Revenue Service watchdogs are looking into more than 70 reports of threats or inappropriate comments made to agency workers following a private plane crash into an IRS building in Austin, Texas, that killed the pilot and an agency employee last month.
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A&A

Rebuilding our economy in 2010: How SOX helps to build trust

Our founders understood that, to the degree that citizens could not self-govern their own behavior internally, then external government would have to step in and govern their behavior.
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Education & Careers

AICPA and Accountemps to provide five scholarships for accounting students

The AICPA and Accountemps are accepting applications for the 2010-2011 AICPA/Accountemps Student Scholarship. Five individuals will receive $2,500 each for tuition expenses.
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Tax

The prince of DC coffee gets a jolt from the king of sales tax

In Washington, D.C., Nick Cho is a local celebrity – at least among the coffee-loving crowd. He was the owner of a popular Capitol Hill hangout called Murky Coffee. Unfortunately for Cho, he’s been gaining fame for a less stimulating reason.
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A&A

New retirement plan security rules will affect millions of 401(k) account holders

The U.S. Department of Labor has announced two new rules designed to enhance retirement security and transparency for the millions of workers covered by 401(k), pension, and other retirement arrangements.
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Pages

Voice of the Editor

What would you do if one of your clients won the lottery? We asked several accountants to weigh in with their advice for the lucky Powerball winner, and the tips we received are useful for anyone who receives a windfall, whether it's a lottery win, an inheritance, a big bonus on the job, or a killing in the stock market.
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Gail Perry, CPA
Publisher/Editor-in-Chief, AccountingWEB
editor@accountingweb.com
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