May 26, 2011
IRS Watchdog Tells of Billions of Dollars in Losses
Have refundable tax credits gotten out of hand? The Treasury Inspector General for Tax Administration (TIGTA) has determined that (shock!) some unscrupulous individuals are using the refundable tax credit system to their own advantage. When people steal from the government, they are actually stealing from the taxpayers, i.e. you and me. TIGTA is recommending that the IRS require documentation to support eligibility for all refundable credits, including the Earned Income Tax Credit, the Additional Child Tax Credit, the American Opportunity Tax Credit, the Adoption Credit, and the Homebuyer Credit. Is this asking too much, or is it reasonable to request proof of eligibility? I vote for proof. Read More »»
Joe Woodard's QuickBooks conference attendees are "Scaling New Heights"
Do you have conference plans this summer? Sometimes you just can't beat the in-person, hands-on classroom experience for professional learning. Gail Perry spent the past few days at Scaling New Heights in Vegas, presented some sessions on how accountants can use the Web to improve their bottom line, and learned a thing or two about the importance of networking. Read More »»
Update from the Center for Audit Quality, AICPA Governing Council 2011
And while we're on the subject of conferences, Adrienne Gonzalez has been hobnobbing with members of the Center for Audit Quality at the AICPA's Spring Council meeting in D.C. CAQ is trying to turn auditing rules into plain English and is hoping accounting students, in addition to the auditors, will appreciate the effort. Read More »»
As we near the Memorial Day weekend, it's time for a few observations.

You never hear anything about Intranets anymore. What are public accounting firms doing with their Intranets in 2011? They certainly haven't gone the way of telegrams, "car" phones and Styrofoam Big Mac containers—you just don't hear much about them these days. Curious...

With most people, there are several factors driving them to succeed. What motivates you, other than the paycheck? For me, it's the challenge and drive to succeed; not letting myself down or my family down; the desire to create and maintain a great work environment for the terrific people on our team; and not disappointing our CEO, whom I respect, and really enjoy spending time with and want to work with until I retire. I think everyone should stop and think every once in a while about what truly motivates them. It might surprise you.

I'm seeing a rapidly growing acceptance of iPads and other tablets by the accounting profession. Are you using one yet? I'm hearing from accountants all over the U.S. who have started using these nifty gadgets in their accounting life that they now can't live without them. The times they are a-changin'.

Rob Nance
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