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March 4, 2010    
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Publisher's Note
Rob Nance, Publisher AccountingWEB’s Outstanding CPA Association Employee of the Year brought forth nominations from all over the country. Last year, Tom Hood, CPA, executive director of the Maryland Association of CPAs, won the honor. It’s now time to declare this year’s winner! Drum roll please…and AccountingWEB’s Outstanding CPA Association Employee of the Year for 2009 goes to…Gary Bolinger, President & CEO of the Indiana CPA Society!

Accountants throughout Indiana hailed Gary as being a great proponent of the accounting profession. Other accolades flowed, including displaying effective leadership and also being very proactive in bringing issues to Indiana’s membership before they become critical issues. Well done, Mr. Gary Bolinger. AccountingWEB tips its hat to you! The accounting profession is fortunate to have you!

Rob Nance
Publisher
publisher@accountingweb.com
Top News
Federal agencies review retirement plan regulations, promote annuity
Nest EggConcerned that at retirement employees overwhelmingly choose lump-sum distributions from their 401(k) accounts and even their traditional pensions, thus leaving themselves with the responsibility of managing their own investments through their elder years, the White House Middle Class Task Force Report is urging plan sponsors to include lifetime income stream products - annuities - as options in retirement plans.
Gary Bolinger: AccountingWEB’s Outstanding CPA Association Employee of the Year
Gary Bolinger, CAE, always has had a knack for getting assemblages of people to work together harmoniously – whether it was as a high school band director or leader of a state CPA society. Bolinger’s leadership, dedication, and advocacy of the CPA profession are just a few reasons why he has been named AccountingWEB’s Outstanding CPA Association Employee of the Year for 2009.
The prince of DC coffee gets a jolt from the king of sales tax
In Washington, D.C., Nick Cho is a local celebrity – at least among the coffee-loving crowd. Unfortunately for Cho, he’s been gaining fame for a less stimulating reason. He currently owes the government approximately $190,000 in back sales tax and penalties.
Battle with IRS and bank leads man to raze his house
A few weeks ago Terry Hoskins had a 3,088-square-foot brick house that he and his wife had occupied since 1991. It was valued at more than $350,000 and he owed the bank about $160,000. Now the house is a pile of rubble.
New IRS Guidance Under IRC 7216 LIVE Webcast
The Knowledge Congress The Knowledge Congress is a series of live webcasts produced by The Knowledge Group, LLC, which examine trends, regulatory, and technology changes across a variety of industries. “We bring together the world's leading authorities and industry participants through informative two-hour webcast that study the impact of changing regulations and help businesses succeed through proper regulatory compliance.” Hear leading government officials, consultants, and experts objectively analyze the latest trends and issues and their impact on industries.
Featured Articles
Inmates turn incarceration into profit
IncarcerationAt least 50 detainees at the Stock Island Detention Center near Key West, Florida, figured out how to scam the Internal Revenue Service out of $100,000 in bogus tax refunds.
10 tips for small businesses to reduce risk of an audit
Company.com, an information and lead-generation services portal for small and medium-sized businesses, has provided us with a list of 10 tips for helping businesses avoid IRS tax audits.
Millennials: Get the tax refund you deserve
Filing taxes for the first time after landing a full-time job out of college can be daunting. Or trying to piece together the details of all the jobs you've worked last year could seem a little overwhelming. But don't let the prospect of doing your taxes scare you out of getting as large a refund as you deserve.
QuickBooks 2010 on Demand
QuickBooks 2010 on DemandCo-authored by AccountingWEB's Gail Perry, QuickBooks 2010 on Demand is a task-based reference book, designed to appeal to the QuickBooks user who wants the answer to questions in a hurry.

We're giving away 25 copies to readers who post questions or answers in our Q&A during March. Entry is easy - Post in our Q&A section and become one of 25 winners of QuickBooks 2010 on Demand. Winners will be selected at random and names of winners will be posted on AccountingWEB in April. Share your curiosity, Share your knowledge.
Firm/State/People News
Snoop Dogg, Spears: Potpourri of celebrities and their dealings with the tax man
Rapper Snoop Dogg, nee Calvin Broadus, is in trouble with the Internal Revenue Service again. On January 19, the IRS filed a lien with the Los Angeles County Recorder of Deeds against Snoop Dogg and his wife, Shante.
Florida mayor owes IRS more than $200,000 in back taxes
Florida’s North Bay Village mayor allegedly hasn’t made a mortgage payment in nearly two years, lives in a house on which he had built an illegal second story, and owes the Internal Revenue Service more than $200,000 in back taxes.
North Carolina CPA firms merge
Pittard Perry & Crone Inc. (PPC), a CPA firm with nine offices in North Carolina, has acquired two independent CPA firms in Raleigh.
Play The Accurate Accountant Game!
The Accurate Accountant Game Ready for a challenge? In this carnival-style target shooting game you will answer trivia questions to earn shots at your favorite targets. To make it even better, the top 10 players will receive a $100 gift card, and AccountingWEB hats go to the remaining top 20. Play today and share with your friends and co-workers, prizes will be awarded at 5PM EST on March 31st.
Blogs!
What do you have to say today?
Colorado Imposes New Requirements on Retailers Without Nexus?
As stated yesterday and in earlier posts, Colorado has not only enacted a rebuttable nexus presumption on remote sellers that are part of a controlled group of corporations that contains a retailer with a physical presence in Colorado, but they have also imposed some burdensome notification and filing requirements on "retailers that do not collect Colorado sales tax."
What's Your Passion?
Maybe some would ask the question this way, "What turns you on?" What do you really like to do? Why do you do what you do? Are you doing what you want to do? Look around. Do you see many people that are passionate about their work? Are you passionate about yours? Passion for our work can make it fun again!
Important Tax Season Read: When & How to Ask for Referrals
Over at Duct Tape Marketing, John Jantsch had a good post on How to Frame a Referral Request.
Aggravated with Auditing Standards - Part II
I previously wrote about my general aggravation with auditing standards and found the flurry of comments to be very enlightening.
Q&A
Electronic Filing Requirements for 2010 Tax Returns
There was a link to an article on your Web site on an e-mail I received from the TSCPA regarding tax preparer e-filing requirements for 2010 tax returns that will be filed in 2011. I seem to remember it said that preparers that filed over so many returns would be required to e-file individual, estate, and trust returns beginning with the filing of 2010 tax returns. Is this still correct or has something changed?
Add your input!
Trades or Barters
How do you book trading a watch for a value of $2,000 our cost and trading for a watch for $1,000 value plus $1,000 cash from customer?
Share your suggestions!
Kaplan Weekly Quiz
KaplanAre you prepared for the CPA exam? Test your knowledge and keep your skills sharp by taking the weekly CPA Exam Quiz, brought to you by Kaplan Schweser CPA Review and AccountingWEB Education & Careers Zone. New questions will be posted for each section weekly. Take this week's quiz.
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