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Wells Fargo Buys H.D. Vest for $127 Million

In one of the first bank deals of its kind, Wells Fargo & Co. said Friday that it will pay about $127 million in cash for H.D. Vest, a large Irving, Texas-based financial planning firm that provides services through 6,000 independent tax and financial advisers.H.D.

Tax Tip: Forms and Publications - How To Order

The Internal Revenue Service has many forms and free publications on a wide variety of topics to help you understand and meet your tax filing requirements. These forms and publications are available on the Internet, on CD-ROM, through fax on demand, over the telephone, through the mail, at local IRS offices, at some banks, post offices, and libraries, and even at some grocery stores, copy centers and office supply stores. If you know what form or publication you need, call the IRS toll-free forms number at 1-800-TAX-FORM (1-800-829-3676).

IRS Announces Extensions May Be Filed By Telephone

The following article is provided courtesy of CCH, Inc.The IRS has announced that taxpayers seeking extensions for filing their returns can automatically extend their filing deadline four months by phone, computer or by filing a Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, by the April 16 filing deadline.

Partners - A Little Disagreement Can Improve Revenues

Do you and your fellow partners agree on almost everything? If so, you could be damaging the bottom line and threatening the very existence of your mid-size CPA firm. Believe it or not, too much consensus - where owners allow the majority to rule or in those rare instances when all owners really do agree - can harm your revenues and damage your ability to interact, plan, and run the firm cooperatively and profitably. How Consensus Can HurtYou may ask, "Aren't partners supposed to agree? What about the 'united we stand' concept?

Intacct Names Software Veteran To Drive Revenues

PRESS RELEASE FOR IMMEDIATE RELEASEIntacct Web-based Accounting Service Names Software Industry Veteran To Drive Revenues in $10 Billion MarketLeading provider of online accounting service names Craig Slayter vice president of salesMarch 23, 2001 (Los Gatos, Calif.)—Intacct Corporation, the leading provider of professional-strength, web-based accounting and related online business services, today announced that high-tech sales veteran Craig Slayter, 50, has joined the company as vice president of sales.

E-mail Spam Bill Advances to the House

We have all experienced the unsolicited barrage of e-mail solicitations. Congress is currently working on curtailing the spamming of America. A house subcommittee quickly passed the "Unsolicited Commercial Electronic Mail Act" on Wednesday, and the bill is expected go before the full House Commerce Committee for a vote next week. This new bill would require the sender of an e-mail message to have a valid reply to address and to stop sending e-mail if the recipient requests it.

MGI North America Announces Spring Conference

Danville, VA, March 20th, 2001 – Midsnell Group International North America (MGI NA), ranked as one of the top CPA Firm Associations in the world by Bowman’s Accounting Report, announces that its Spring conference will be held in the United States on May 31st – June 2nd, 2001 in Redondo Beach, California. MGI NA has member firms in the Bahamas, Bermuda, Canada, Cayman Islands, Mexico, and all over the United States.

AccountingWEB Weekly News Wrap-Up - Issue 87

AccountingWEB Weekly News Wrap-Up - Issue 87March 23, 2001Visit Our Sponsor: Andersen|2|232|6_5_56_4**LATEST NEWS***LATEST NEWS***LATEST NEWS**1. "Mysterious" Credit Rating System Now Available to Consumers2. Tax Tip: Roth IRAs3. NYSSCPA Grapples with H&R Block Over Ad Campaign4. How Does Your Firm Compare?5. SEC: Bloodthirsty or Just Doing Its Job?6.

Pro2Net Calls it Quits

After a six year run as a premier accounting industry Internet portal, Pro2Net (formerly AccountingNet) has decided to close its doors for good. The company was the first true Internet portal devoted exclusively to the accounting profession. Over the past year, they expanded in scope and in staff to address multiple professional business segments, and hired many industry insiders to stake out a dominant position in the professional marketplace.

The Next Generation Accountant: Skills and Opportunities

Next Generation Accountant: Skills and OpportunitiesPresented by Wayne MelloExecutive Director, Robert HalfMarch 22, 2001Visit the AccountingWEB Workshop Calendar for upcoming sessions.Workshop SummaryThis is a summary of the topics that were covered in the workshop. You can read the full transcript below.1. The Impact of Technology   a.

Employers Can Require Arbitration of Employee Disputes

The U.S. Supreme Court has ruled that companies can insist that workplace disputes go to arbitration rather than to court. The court said that agreements to arbitrate workplace disputes are enforceable even if a requirement to sign an agreement to arbitrate was a condition of being employed. Agreements to arbitrate are a common part of employment contracts.

Ways and Means to Advance Marriage Penalty Relief Bill

The following article is provided courtesy of CCH, Inc.The House Ways and Means Committee plans to mark up marriage penalty relief legislation on March 22. Committee member Jerry Weller, R-Ill., said at a March 21 committee hearing that relief from the marriage penalty in the tax code should be a main priority of this Congress.

Illinois CPAs Give 'Thumbs Down' to XYZ Designation

The Board of Directors of the Illinois CPA Society has voted unanimously to oppose any further development of or investment in the XYZ credential, the financial credential that has been touted by the AICPA as the global designation of the future.The designation, which has been referred to as "XYZ" and "Cognitor," has met with obstacles on an international level as well.

Tax Tip: Education IRAs Make College Costs Less Taxing

The Education IRA is an incentive to help parents and students save for higher education. Up to $500 may be contributed to a child's Education IRA each year, according to the IRS. Earnings on contributions will be distributed tax free provided that they are used to pay the beneficiary's post-secondary education expenses. Any individual who meets adjusted gross income (AGI) requirements can make a non-deductible contribution on behalf of a child under the age of 18. The AGI requirements are $95,000 for single taxpayers and $150,000 for married taxpayers.

Tax Time and You're Short of Cash - What to Do?

Wondering how you're going to afford your tax bill this April? The financial writers at have put together a nice summary of tax payment alternatives.Pay as Much as You Can in AprilAll taxes not paid by April 16 are subject to a penalty and interest.

Benefits 101: What Do Today's Recruits Want?

When contemplating hiring and retention of employees, "people issues" are more important than they were in 1998, according to 80 percent of business leaders interviewed in a study performed by Accenture. Companies that struggle with retention tend to be those that ignore issues such as flexible work schedules, job sharing, telecommuting, short-term assignments, and mentoring programs.

Fair Isaac Credit Reports Available to Consumers

Fair Isaac, the company that can either be your friend or your foe when you apply for a loan, has finally decided to make its secret credit analysis scores available to the general public. Previously, these top secret scores were only available to lenders.The scores are based on information that is available in standard credit reports. The point of the scoring system is to give lenders a picture of how likely a particular consumer is to repay a loan and to make the payments on time.There are five criteria used in determining the Fair Isaac (FICO) score.

Tax Tip: Roth IRAs

Confused about whether you can contribute to a Roth IRA? The IRS suggests checking these simple rules:Income To contribute to a Roth IRA, you must have compensation (i.e. wages, salary, tips, professional fees, bonuses). Your modified adjusted gross income must be less than:$160,000 - Married filing jointly. $10,000 - Married filing separately (and you lived with your spouse at any time during the year).

CCH Offers Guidance on Transfer Pricing Rules

(RIVERWOODS, ILL., March 20, 2001) – The stakes are high, and companies that don’t know the rules and how to apply them can lose big when their transfer pricing arrangements are challenged by taxing authorities, according to CCH INCORPORATED (CCH), a leading provider of tax and business law information and software.

IRS Auditing More Returns Than it Admits

A recent report about the reduction in number of tax returns being audited by the IRS incited the Senate to respond that there are actually considerably more returns that undergo examination.


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