August 4, 2011
This week's Insight seems to be all about helping others, so with that thought in mind, I'll throw down a gauntlet for all of you accounting professionals out there. School is starting soon (cue muffled cheering from parents, loud moans from children). Make this the year that you get involved in education. If you're a parent, reach out to the schools your children attend. Work with your community schools even if you're not a parent. Consider contacting schools you attended yourself. Follow the link for some tips for getting involved. Read More »»

Gail Perry, CPA
With pension fund dwindling, Central Falls, RI, enters bankruptcy
I'm a road trip person. There are few things sweeter than driving across the country with the windows open, spotting water towers symbolizing small town America, and imagining the happy people who populate the little villages, staying there because their parents and grandparents are nearby, going to the Friday night football games long after their own children have graduated... okay, okay - I'm a sucker for nostalgia. But when towns like Central Falls fail, we as accountants have to ask ourselves, what can we do? How can we be more actively involved in our own communities, and can we use our expertise to make a difference? Read More »»
IRS ends rule that hurt 'innocent spouses'
Probably the last thing a victimized (i.e. good) spouse needs while trying to find a divorce lawyer, job, home for battered victims, etc., is the IRS trying to collect a huge debt that the other (i.e. bad) spouse didn't pay or tried to cover up a big tax liability. The IRS has lifted a huge burden by removing the two-year limitation for requesting relief under the innocent spouse rules. Effective immediately, if the period of limitation on collection of the tax is still open, then the victimized spouse can still take advantage of innocent spouse relief.
Ernst & Young mentoring program helps unlikely students navigate the road to college
E&Y is making a difference in the lives of students who want to get ahead but don't quite know how to reach their dreams. Partnering with College MAP and College for Every Student, the Big Four firm is assisting in a mentoring initiative to help high school students learn about applying for and affording college. We here at AccountingWEB get a bit misty-eyed when we learn of accounting firms extending their reach beyond the cubicles and computer screens, so let us know what your firm is up to and we'll share the news with the rest of the profession. Read More »»
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