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THIS WEEK'S TOP NEWS
- Andersen Appeals Obstruction of Justice Verdict
- Forget Braxton, Deloitte Shelves Plans to Segregate Consulting
- Deadline Nears For Offshore Tax Evaders
- Companies do Pay Substantial Taxes, Even on Inflated Earnings
- SEC Sets New Rules For Audit Committees
- PwC Chief Criticizes Deloitte's Decision to Keep Consulting
- Grassley Urges Caution When Using Paid Tax Preparers
- Report Fails to Resolve Indian Trust Fund Dispute
- GASB Issues Deposit And Investment Risk Disclosures Standard
- Crowe Chizek Rebrands And Restructures For Growth
- DOL Releases Long Awaited Plan to Update The FLSA
- PCAOB Hears Jurisdictional Worries From Around The World
- Helpful Post Tax Season Tips to Organize Your Office!
Don't miss the Q&A Forum, 2003 Tax Calendar, AccountingWEB
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FRx Forecaster makes it easy for your company to immediately realize the benefits of a budgeting and planning application. Request Tad Leahy's whitepaper, "The End of the Spreadsheet Budgeter", to discover the advantages of web based budgeting.
The Senate Finance Committee opened hearings this week on whether the IRS is doing everything it can to protect America's taxpayers from "unscrupulous" tax preparers. With this following on the heels of controversial television ads questioning the competency of some CPAs to minimize tax burdens, one can only wonder whether the accounting profession is about to undergo yet another round of scrutiny that could again tarnish its bruised image.
As tax season draws to a close, many of you are exercising your once-a-year opportunity to touch your clients and to again present yourself and your work as the professional-level product that it should be.
This is the perfect time not only to reassure the quality of your services, but also to thank your clients for their business, set up an appointment with them to talk about changes for next year, and see what else you can do to help them as their financial advisor. With unparalleled service like that, the need for Senate hearings will disappear and the profession will be saved another perception problem.
Michael Platt, CEO
THIS WEEK'S TOP NEWS
In an 85-page brief submitted to the U.S. 5th Circuit Court of Appeals, lawyers for former Big Five accounting firm Arthur Andersen LLP presented reasons why they believe the appeals court should overturn Judge Melinda Harmon's guilty verdict on the obstruction of justice charge issued last year.
Big Four firm Deloitte Touche Tohmatsu has announced that plans to break off its Deloitte Consulting arm into an independent company have been tabled. "We began this process at a time of more robust consulting, capital and credit markets - all of which have deteriorated in the past 14 months, due to economic uncertainty exacerbated by the war in Iraq," said James E. Copeland, Jr., Deloitte CEO.
April 15 is the last chance for people who have used offshore payment cards or other offshore financial arrangements to avoid U.S. taxes to take advantage of the Offshore Voluntary Compliance Initiative (OVCI). Here's what you need to know.
Just because a company inflates its earnings by a couple hundred million doesn't mean it won't pay the taxes on those bogus earnings. At least that's what three university researchers discovered when they conducted a study on the tax consequences of allegedly fraudulent earnings.
The Securities and Exchange Commission has voted to adopt rules directing the national securities exchanges and national securities associations to prohibit the listing of any security of an issuer that is not in compliance with the audit committee requirements established by the Sarbanes-Oxley Act of 2002.
MORE HEADLINE NEWS. . .
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2003 TAX CALENDARVisit the AccountingWEB.com 2003 Tax Calendar today.
Visit the Q&A Forum "Member Questions" Page for the most recent questions/answers posted by our subscribers. Add your comments and lend a hand!
1. Social Security Benefits Received by Child. I would appreciate if someone can help about the taxability of Social Security Benefits received by the child.
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