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APRIL 1, 2008


IRS on YouTube: Tax agency joins the 21st century
If you want to see pop stars committing fashion disasters or politicians falling asleep at receptions, you log onto YouTube. In an innovative approach to making Americans aware of tax rebates, the IRS had joined the YouTube generation. The IRS has produced four 30-second public service announcements with instructions on how to claim tax rebates and clear up any misconceptions about who is eligible.

IRS personnel and volunteers reach out on 'Super Saturday'
In an effort to reach people who don't normally file a tax return but who will need to file for 2007 in order to qualify for the economic stimulus package, the Internal Revenue Service opened 320 offices nationwide on March 29th for "Super Saturday." IRS field assistance personnel also visited nursing homes and similar locations to prepare returns.

Supreme Court won't hear case that would have required higher retiree benefits
The U.S. Supreme Court has declined to review a decision made by the U.S. Court of Appeals in Philadelphia in AARP vs. EEOC that the Equal Employment Opportunity Commission's rule permitting employers to coordinate their health benefits for retirees with Medicare was "legal and reasonable." The Appeals Court said that "over time, it will likely benefit all retirees."

Small Business News

Seven ways to avoid becoming a bad boss
Most employees experience a bad boss at least once in their career. Many feel they have never really had a good boss. Insensitivity, failure to communicate, and a lack of fairness are the hallmarks of poor supervision. Why is it that good supervisors are hard to find?


What have you got to say today?

Eva Rosenberg, MBA, EA:
Talk to TaxMama
Are You Electronically Filing the Notes and Statements You Think You're Filing?

Your electronic filing software may not be sending your "Print with Return" notes and statements with the e-filed return. You may have to place your notes in a special form or place in order for your disclosures to be transmitted. Read on for details about specific software....

Linda Cavanaugh, CPA:
Plugged In
FAS 141R - Business Combinations

This new Statement was a lot more involved than I thought at first glance. Here is the first installment. FAS 141R - "Business Combinations" - was issued to improve relevance, representational faithfulness and comparability of the information surrounding business combinations...

Editor's Note

Today we're going to set the WABAC machine to the days of the Clinton presidency. What legislation did President Bill Clinton attempt to orchestrate that produced then-Chairman of the House Ways and Means Committee Bill Archer to say, "What's next? A tax credit for good penmanship?" If you said a $10 tax credit for people who filed their tax returns electronically, you'd be right! In January of 2000, President Clinton thought $10 would be enough money to encourage people to e-file. This year, we've put in place a massive tax rebate program to the tune of $600 a head plus more for the kids, and in addition to the hoped for effect of keeping the economy out of a recession, the by- product of these payments is that droves of new taxpayers appear to be leaping onto the e-file bandwagon. I made fun of the proposed tax credit in 2000. In retrospect, I think $10 a head would have been a much more respectable price to pay for e-compliance.

Gail Perry, CPA
Managing Editor

Firm/State News

Ranking Arizona names Abalos & Associates, PLLC Top Accounting Firm
Sandy Abalos, managing partner of Abalos & Associates, PLLC, has announced that the firm has been named the number one accounting firm in the state for the sixth consecutive year by Ranking Arizona. The firm will be recognized at the 2nd Annual Best of the Best Awards on Thursday, April 3 at the Camelback Inn Resort & Spa.

Student News

Financial literacy program launches at Hilbert College
Building good financial habits and steps to avoid piling up debt will be the focus of a new financial literacy program expected to kick off this fall for Hamburg, NY-based Hilbert College students.

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