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APRIL 30, 2008

Editor's Note

I suppose the people who are receiving rebate/stimulus checks are going to be happy to get their payments early, but isn't it irritating that we told all of our clients when to expect their payments and now we're being proven wrong? For accountants who work in a profession where precision is important, it can be frustrating to have the proverbial tables turned on us, even if the end result is good news for the consumers. Anyway, today's top story sets out the new revised rebate schedule - some of your clients have probably already received their payments.

Gail Perry, CPA
Managing Editor

IRS speeds up rebate schedule
The Internal Revenue Service has stepped up the pace of transferring economic stimulus payments to millions of Americans, some of whom have already seen payments in their bank accounts....

AICPA offers advice for tax savings
The American Institute of Certified Public Accountants advises taxpayers to take advantage of the opportunities offered by the nation's tax laws to save money. The AICPA published these tips to coincide with last week's celebration of Tax Freedom Day....

IRS launches campaign to help new small businesses
The Internal Revenue Service has launched a year-long campaign to help educate new self-employed small business owners about federal tax responsibilities and about filing Schedule C, Profit or Loss from Business....

CPAs offer advice on how to spend tax refund
Many tax filers stress over completing the return on time and mailing it before incurring any penalty from the IRS, so they often do not consider all of the options available to smartly spend or save any refund. The Pennsylvania Institute of Certified Public Accountants offers a few suggestions that will allow you to enjoy your refund for years to come. CPAs offer advice on how to spend tax refund....
Wesley Snipes gets prison time for tax crimes
Saying Wesley Snipes showed "contempt," a Florida judge sentenced the actor to three years in prison for failing to file income tax returns....

9 tips for keeping in touch with your tax clients year-round
Tax season is over, you've delivered the tax returns, put the files away, sent your invoices, caught your breath, and have told all your tax clients you'll see them next spring, right? Whoa! You don't have to wait until there's more snow on the ground to contact your tax clients....

Business Tax Index 2008 ranks state tax systems
With April 15, "Tax Day," just behind us, the Small Business & Entrepreneurship Council (SBE Council) has published the "Business Tax Index 2008: Best to Worst State Tax Systems for Entrepreneurship and Small Business," ranking the states according to the costs of their tax systems for small business start up and growth....

Eva Rosenberg, MBA, EA: Talk to TaxMama

Tax Season's Over, Let's Have Fun!

You've worked hard all tax season, digging away at that mountain of tax returns and nagging resisting clients for those elusive final documents. Now that you can breathe a sigh of relief, let's look at fun things to do. Of course, just because you've earned a ton of money, or have a huge refund coming - and a Stimulus Rebate - that doesn't mean you need to spend it all. So here are some ideas on how to have fun for free - or close to it.

Share your voice in the TaxMama's blog!

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