Tax news November 2011

A&A

Keep All Your CPE Certificates of Completion – You Might Be Audited

When fulfilling their continuing professional education (CPE) requirements for license renewal, CPAs need to keep their certificates of completion, even if their particular state boards of accountancy don't require the CPAs to file the forms.
Tax

Cyber-Shopping: 10 Tips for Safe Online Holiday Shopping

Internet Retailer reports that 72 percent of U.S. online consumers expect to shop online this holiday season. The Oklahoma Society of CPAs has some advice for those of you who want to avoid walking the aisles and lugging bags at the local shopping mall.
Tax

Charitable Rollovers Are Set to Fall off the Table

Unless Congress takes action soon, on December 31, 2011, a unique tax break for senior citizens will be wiped off the books. This tax law provision - the Pension Protection Act of 2006 - allows qualified taxpayers to "roll over" funds tax-free from an IRA to a charity.
Tax

IRS Launches Competency Testing for Tax Return Preparers

The Internal Revenue Service has announced that it is ready to roll out its new competency test for tax return preparers. Test scheduling will begin the week of November 28.
Tax

Congress Salutes Veterans with New Hiring Tax Credits

Just a week after this year's Veterans Day, President Obama signed new legislation providing a tax credit to employers who hire military veterans. The VOW to Hire Heroes Act is a small piece of a much larger jobs bill that has stalled in Congress.
Tax

Mid-size Firm Wins Jackson Hewitt’s Annual Franchise of the Year Award

Jeffrey Davidson’s Jackson Hewitt franchise may not have been the biggest tax service business among the 700 nominees for this year’s Jackson Hewitt Franchisee of the Year Award.
Tax

Sales Tax on Online Purchases Is On the Rise

This holiday season, online shoppers will find more states are looking to make sure gift givers also give their state its fair share – in terms of sales tax for online purchases.
Tax

Most-Searched Tax Terms for the End of October Tax Season

Intuit has provided AccountingWEB with the tax terms that were most searched for as mid-year tax season winded down this fall.
A&A

Is Your Accounting Firm 'Future-Ready'?

Speaking at the 2012 CCH User Conference in San Antonio, TX, Mike Sabbatis, CEO of CCH North America talked to the approximately 1,200 conference about the future-ready firm.
A&A

CCH 2011 User Conference Focuses on Innovation

Innovative thought is the theme at CCH Connections, this year's annual CCH User Conference, and the Thomas Paine statement of "Lead, follow, or get out of the way," has never been more appropriate than it is today.
Election 2012

Rick Perry's Tax Plan Opens 'Intriguing' Debate

Texas Gov. and Republican presidential candidate Rick Perry entered the tax reform fray recently when he made good on his debate promise to "bump plans" with fellow candidate Herman Cain's 9-9-9 tax proposal by introducing his own "Cut, Balance and Grow" economic stimulus plan.
A&A

Thomson Reuters User Conference Sets the Right Tone for Learning, Innovation

Over 800 members of the Thomson Reuters tax and accounting community gathered in San Diego last week to learn about the latest innovations in their software, experiment with new tools, and connect with peers, colleagues, and members of the Thomson Reuters staff.
Tax

NTEU President Says Workforce Reduction Bill Undermines Essential Government Services

The leader of the nation's largest independent federal employees union this week called on members of Congress to reject legislation that proposes what she is calling an "ill-advised reduction of the federal workforce threatening vital government services."
Tax

Halt! District Court Judge Blocks H&R Block Merger

A district court judge has stopped H&R Block, the country's largest tax-preparation service, from buying out the maker of TaxAct software. The proposed deal would have eliminated a competitor that is undercutting the household name through lower pricing and product innovation.