Weekly Business Brief
Featured News
States quick to take advantage of new nexus non-rules
It was only a couple of weeks ago that we reported the U.S. Supreme Court had refused to hear two cases that would have addressed a controversial nexus issue. Other states are joining New Jersey and West Virginia with legislation supporting taxation without physical presence.
Small tax-exempt organizations face new postcard reporting requirement
The Internal Revenue Service has announced that more than 650,000 small tax-exempt organizations may be required to submit a new annual notice, Form 990-N, "Electronic Notice (e-Postcard) for Tax-Exempt Organizations Not Required to File Form 990 or 990-EZ."
IRS budget continues path through Congress
The Senate Appropriations Subcommittee on Financial Services and General Government has approved the IRS budget of $11.1 billion for fiscal year 2008 after the budget was approved by the House.
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Latest News
UK 'fat tax' could save more than 3,000 lives Employers expect to increase hiring in third quarter EDGAR Online announces member discount arrangement with AICPA
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Student News
House votes to change student aidOn Wednesday, the House of Representatives voted to cut $19 billion in federal subsidies to student lenders over five years, and increase grants for needy students and cut interest rates in half on federally backed loans with the savings.
Lite News
Doggie worksheet provides finance tips for childrenIt's not just the purchase price of a pet that costs money; it's the feeding, grooming, vet bills, and boarding that can really add up to a lot.
Firm/State News
Grant Thornton International announces mergerDavid McDonnell, chief executive officer of Grant Thornton International has announced the merger between Grant Thornton's Irish member firm and RSM Robson Rhodes in Ireland, which follows on from the merger of Grant Thornton UK LLP and the UK division of RSM Robson Rhodes LLP.
Publisher’s Note
It might not be the same as sending your favorite Uncle Sam a
postcard from the tropics, but small tax-exempt organizations
should check their mailboxes for notification of a new ruling
requiring them to send a postcard to the IRS indicating that
they don't have to file a tax return. Don't overlook the
mailing - even though many tax-exempt organizations don't have
to file a tax return, their exempt status is at risk if they
don't send in the card.
Rob Nance
Publisher
publisher@accountingweb.com
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