Weekly Business Brief
Featured News
FIN 48 from different perspectives: Federal and state implications
Financial Accounting Standards Board Interpretation No. 48 (FIN 48), Accounting for Uncertainty in Income Taxes, is intended to substantially reduce uncertainty in accounting for income taxes. Its implementation and infrastructure requirements, however, generate a great deal of uncertainty. This feature provides an overview of FIN 48, addresses some of its federal and international tax issues, as well as issues arising at the state and local level.
IRS provides transitional penalty relief for preparers
The Internal Revenue Service and Treasury Department has released Notice 2007-54, providing guidance and transitional relief for the return preparer penalty provisions amended by the Small Business and Work Opportunity Act of 2007. The new amendments are effective for returns prepared after May 25, 2007.
SBA to educate 100,000 small businesses about software management and risks
The U.S. Small Business Administration and the Business Software Alliance, an organization dedicated to promoting a safe and legal digital world, have announced a partnership to educate nearly 100,000 small businesses on proper software management and the risks associated with the use of unlicensed software.
| CCH Audio Seminar: Implementing IC-DISCs To Reduce Taxes On Exports |
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 CCH Audio Seminar: Implementing IC-DISCs To Reduce Taxes On Exports Learn the ins and outs of interest charge-domestic international sales corporations (IC-DISCs), and the opportunities they present for tremendous tax savings in a timely audio seminar that you can participate in — right from your office — on Thursday, June 21st. Presented by experienced international tax and business practitioners, Robert J. Misey, Jr. and Adam Konrad, this two-hour audio seminar on Thursday, June 21, offers a practical discussion on what IC-DISCs are, why they are such a great way for exporters to reduce their U.S. taxes, the mechanics and requirements of IC-DISCs, and strategies to help maximize their tax benefits. Visit the links below for complete details about this seminar.
Thursday, June 21, 2007
(1:00 - 3:00 p.m. ET; Noon - 2:00 p.m. CT) |
Latest News
Jackson Hewitt under fire Consumers slow to accept Health Savings Plans Study shows small business confidence index and revenue expectations on the rise More tax preparers indicted over telephone tax refund scams Paychex launches new tax credit service for SMBs
Firm/State News
McGladrey acquisition strengthens presence in FloridaRSM McGladrey Inc. and McGladrey & Pullen LLP continue their growth strategy throughout the Florida market by announcing the completion of the acquisition of Orlando-based Tedder, James, Worden & Associates, P.A., the fifth largest accounting firm in Central Florida.
Tech News
Microsoft releases new security patch, as do scammersMicrosoft released its new security patch this week, and scammers were quick to get on the bandwagon, releasing a patch of their own via email messages that are sure to confuse computer users.
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Hot Topics
Running a motivational session: 10 steps to successRunning a motivational session: 10 steps to success So, you're a manager. So, you know you have to run a training session or a team meeting for your team (for the first time) that needs to be motivational and you're not a professional trainer. So what! With a good plan and a well structured session, training can be enjoyable and most of all rewarding for both you and your team. Here's how....
Publisher’s Note
This week's news includes stories about tax preparers being indicted for taking advantage of the telephone tax refund, more taxpayers being accused of filling out false tax returns, and software scammers trying to take advantage of Microsoft users. Can't we just have a little summer relaxation? Check out "Running a motivational session: 10 steps to success" in the Hot Topics section for some upbeat advice and tips on making work more enjoyable. Maybe that will take away the bad taste caused by the troublemakers.
Rob Nance
Publisher
publisher@accountingweb.com
P.O. Box 2252, Westerville, OH 43086-2252
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