
The Internal Revenue Service has announced plans to return to its practice of selecting random tax returns for audits this fall. Beginning in October, the Service will target approximately 50,000 income tax returns from 2006.

One really disconcerting change to Excel 2007 is the disappearance of the toolbars. Features you use all the time seem to have disappeared back to into the menus.

The United States Court of Appeals for the District of Columbia Circuit has ruled that the IRS can tax damage awards for nonphysical injuries such as mental distress or injury to reputation.
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This week we learned that the IRS is cutting back on its
kinder, gentler image and is returning to the days of random
audits. Start practicing your look of dread for the day when a
letter from the IRS appears in your mailbox. Meanwhile, we're
happy to report that accounting is THE major for college
students who want to find jobs. For those who are in the
profession already, that's no surprise.
Rob Nance
Publisher
publisher@accountingweb.com