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September 6, 2007

Featured News


Critics complain about plans to help real estate foreclosure victims

Lewis Uhler, president of the National Tax Limitation Committee, has criticized proposals to bail out the so-called "subprime" lending industry. With potential losses hitting $100 billion, he said "Borrowers, lenders, and investors must be held responsible for their own mistakes."



Food and beverage employers should note rule changes for 45B credit

The IRS has issued an announcement to employers that they should be aware of two changes to the credit for the portion of employer Social Security paid with respect to employee cash tips known as the 45B Credit. These changes are the result of recently enacted legislation.



Minority- and women-owned businesses join forces to oppose tax increase

A consortium of minority and women business leaders in the private equity, real estate, and investment management industries has announced the formation of the Access to Capital Coalition to oppose efforts in Congress to change tax laws in a way that would adversely affect minority and women entrepreneurs.



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Student News

Journyx announces Excellence in Project Accounting Philosophy essay scholarship
Journyx - the first company to provide Web-based time tracking and project accounting solutions that guide customers to per- person, per-project profitability - has launched the 2008 Excellence in Project Accounting Philosophy essay scholarship.

Firm/State

Thomson to acquire Deloitte Tax LLP Property Tax Services
The Thomson Corporation has announced that it has signed a definitive agreement to acquire the Deloitte Tax LLP Property Tax Services business. PTS is a national provider of property tax compliance outsourcing and consulting services, such as real estate appeals and complex property valuation, and employs an expansive network of more than 420 professionals.

Publisher’s Note

This week's news provides a little something for everyone, including a revised international accounting standard, tax rules relating to tip income, a scholarship contest for accountants who like to write, a coalition of women and minorities taking on the IRS, and a bit about what's on the mind of CFOs. We hope at least some of these topics will interest you. And if you know someone else who might be interested - by all means, send them a copy of this newswire.

Rob Nance
Publisher
publisher@accountingweb.com


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