News

Technology

IRS Web Site is Quick Source for Forms, Publications

The IRS Web site, www.irs.gov, performed up to five times faster during the 2000 tax filing season than it did in the previous year.
Practice

Reasons why Clients Leave Financial Advisors

A third of the nation's financial advisors claim it's harder to keep clients than it was five years ago. On top of that, 75 percent of these advisors say those with less than $100,000 to invest are the most difficult ones to retain.If you're a CPA and/or financial advisor, you may be experiencing much of this in today's marketplace. Why do customers leave?It all boils down to opinions from others. Clients have high expectations, and are greatly influenced by what they hear, rather than by experience. Expectations, too, have become less realistic.
Community News

PricewaterhouseCoopers to Cut Partners

Big 5 firm PricewaterhouseCoopers is to axe one in ten partners as part of cost-cutting measures, according to reports in the British newspaper, the Sunday Times. The alleged staff cuts come after the PwC's failure to sell off its consultancy arm to Hewlett-Packard in November, and could form part of the firm's current restructuring plans.

AccountingWEB Weekly News Wrap-up - Issue 76

The AccountingWEB Friday Wrap-Up Newswire - Issue 76January 5, 2001Members Logon to http://www.accountingweb.com for full access to all our resources.Don't know your Logon Membership Details?Go to
Tax

E-Filing Growing in Popularity

The latest American Customer Satisfaction Index survey shows that the overall taxpayer satisfaction score for the Internal Revenue Service's e-filing service increased to 75 (on a scale of 0 - 100) in 2000, from 74 in 1999. This compares with a score of just 51 for the filing of paper tax returns. It is also well above the average score of 68.6 for government services. Additionally, 81 percent of the respondents say they intend to file again electronically. The survey findings support the IRS's own theory about electronic filing - that taxpayers who try it really like it.
Community News

Deloitte on Path to Success

Revenue growth at Deloitte Touche Tohmatsu has fallen to 14.1% - down from the 21% figure achieved for the last financial year, but marking seven consecutive years of growth. Annual global revenue reached $11.2 billion for the new year-end of May 31, 2000 - previously, the firm's fiscal year closed on August 31. Revenue from the firm's practice grew 15.4% and the consulting arm was up 11%. The Big Five firm also announced that it was determined to keep its consultancy business.

Non-Support of Microsoft/Great Plains Acquisition

With the ink on the Microsoft/Great Plains still wet, analysts have begun offering their opinions of just how good a deal this is for the accounting-technology sector: not all analysts approve of the buy."This is a real sea change for Microsoft," said Dwight Davis, vice president of Summit Strategies, a research firm in Boston. He sees the move as Redmond reneging on promises to keep its hands off of certain industry segments.
Tax

Tax Tip: Marriage or Divorce-Check Your Social Security Number

The IRS reminds newlyweds and the recently divorced to make sure names on their tax returns match those registered with Social Security. A mismatch between a name on the tax return and a Social Security number (SSN) could unexpectedly increase a tax bill and reduce the size of any refund. For newlyweds, the tax scenario can begin when the bride says "I do," takes her husband's surname but doesn't let Social Security know about the name change.

Great Workplaces Have These Things in Common

What do you enjoy most about your job? At one time or another, we have all had a chance to think about our work and what we like and don't like.Thanks to the Indianapolis IABC (International Association of Business Communicators) and the Gallup Organization, here is a list of what differentiates great work groups from the pack.
Education & Careers

It's Never too Early to Seek an Internship: Here's How

To intern or not intern; that is the question!According to Andrew Denka, executive director of Accountemps, internships will open doors and demonstrates a continued commitment to the profession. This and other observations are offered in his latest "Ask Andy" column on the AICPA Web site.One aspect of an internship is the longevity; the tenure does not necessarily end with the semester or summer.
Tax

IRS Gearing Up for Busy E-Filing Season

From a new paperless e-filing option to expanded customer service features, taxpayers will find more and easier ways to get help from the Internal Revenue Service during this year's tax filing season, and preparers have something to celebrate as well. The new 2000 tax forms include an easy checkbox for taxpayers to indicate their agreement to let the IRS speak to paid tax preparers about the tax return.This week marks the beginning of 2001 filing season.

Adding Value To The Profession - Proposed Credential

The AICPA has prepared two documents "Adding Value to the Profession" and "The XYZ Concept" for professionals to download and review for free. "Adding Value to the Profession" - The Proposed Global Credential is an in-depth article on the new global professional credential written by William L. Reeb.
Tax

Tax Tip: Where To Find Out About Taxpayer Rights

The Internal Revenue Service has created a special Web section for taxpayers seeking information about their rights when dealing with the nation's tax agency. The "Taxpayer Rights Corner" can be found at www.irs.gov under the "Tax Info for You" section.The section brings a variety of issues involving taxpayer rights issues into one convenient place. The Taxpayer Rights Corner includes topics ranging from basic taxpayer information to detailed steps on how to get help from the IRS.
Technology

AT&T Glitch Supports Security as #1 Issue for CPAs

A mistake by AT&T that violated security to many of the telecommunications company's small business customers supports the finding that Information Security and Controls is the number one concern among the issues affecting the profession in 2001.Billing and account information for about 120,000 could be viewed by customers, according to the story on MSNBC.com.

Microsoft Sued by Employees Over Racial Bias

According to a story from The Wall Street Journal, seven current and former African-American employees have sued Microsoft over alleged racial discrimination. The amount of the class-action lawsuit that covers many more employees than just these seven is $5 billion.A hostile workplace added to discrimination with performance reviews, pay and promotions, according to the plaintiff's attorneys. Wrongful termination of African-American employees also is alleged.Microsoft has denied any wrongdoing thus far.
Technology

AICPA Releases Top Technology Issues For 2001

Technological advances over the last ten years have become so interwoven with the accounting profession that it's hard to conceive how we could or can function without them. The AICPA just released the 2001 Top Ten Technology list."We're not surprised that security emerged as the most critical technology issue," said Alan Anderson, AICPA Senior Vice President - Technical Services.
Technology

Use MS Outlook to Get Detailed Map Directions!

Next time you're getting ready to leave the office on an engagement or a marketing call, make sure you have accurate directions to the client’s office. If you use Microsoft Outlook as your contact management tool, try this nifty feature. Outlook and Expedia.com Maps provide you with detailed directions to the contact's address. You may need to install this feature if it has not been installed on your computer already.
Tax

Tax Tip: Avoid Headaches, Prepare Taxes Early

Earlier is better when it comes to working on your taxes. The IRS encourages people to get a head start on tax preparation. Not only do you avoid the last-minute rush, early filers also get a faster refund.Here are seven easy ways to get a good jump on your taxes long before the April 16 deadline rolls around: Gather your records in advance. Make sure you have all the records you need, including W-2s and 1099s.
Community News

Midwest Accounting Firms Combine Forces

The certified public accounting and consulting firms of Virchow Krause and Lund Koehler Cox & Arkema have announced their merger. The merger provides the Twin Cities area with the resources of a large regional firm with strong local ties. The merger is effective January 1, 2001.Virchow Krause (VK) is the largest CPA firm in Wisconsin, and the 16th largest firm in the country, according to Public Accounting Report, a leading industry newsletter. The firm has 90 partners, and over 900 total staff. The merger will add 175 people including 28 partners in the Twin Cities.
Tax

IRS Raises Income Exclusion for Parking Benefits

The Internal Revenue Service recently announced that employers may exclude parking benefits from employee wages up to a maximum of $180 per month for 2001, a $5 increase from the 2000 ceiling.The announcement came in IRS Revenue Procedure 2001-13.No increase is forecast for the existing exclusion amount of $65 per month for combined transit pass and vanpooling expenses.The Employee Benefits Institute of America, a publishing group that provides guidance on various benefits plans, commented that the $65 ceiling on excludable transit pass and vanpooling expense is scheduled to increase

Pages


Already a member? log in here.