The IRS has asked the members of the Free File Alliance, those
software companies that provide their tax software and
electronic filing services at no charge for taxpayers who find
their way to the IRS Free File Web page, to agree to raise, or
actually obliterate, the ceiling on income so that any taxpayer
who wishes to use the free service may do so. The IRS hopes
this will increase the number of taxpayers who file
What the IRS doesn't seem to grasp is that opening the doors to
higher income individuals for participation in the free filing
project won't be the catalyst that will get more people to file
tax returns themselves without the help of a professional tax
preparer. The more income a person has, generally the more
complicated the tax situation is, and the $15-$20 fee that
might be saved on tax return filing is minimal in comparison
to the amount that typically can be saved by hiring a
professional to help taxpayers sail through the murky waters of
the tax code. It's tax reform that will change the system, not a small savings on filing fees.
Gail Perry, CPA
Mastering Accounting Research for the CPA Exam
by Anita L. Feller
You're a CPA Exam candidate. You've survived all those technical accounting courses and advanced courses on systems, auditing, cost accounting, and tax, and now you're ready to take the big exam. But perhaps in those intermediate or advanced courses, you didn't receive enough exposure to research in the accounting standards, the auditing standards, or the tax code. Help has arrived.
Questions & Advice
Back Dating AP Checks
I know that back dating AP checks impacts cash and even more so
if they cross over reporting periods. Are there any other
issues like Sarbanes-Oxley or audit issues?
Share your suggestions today!
We bought a cashier's check from our company's bank payable to
a collecting agency who will forward the payment to our vendor.
How do I record the purchase of the cashier's check from our
company's bank? Please enlighten me.
Add your input!