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FEBRUARY 14, 2008


IRS provides details of tax rebate program
The Internal Revenue Service is advising taxpayers that in most cases they will not have to do anything extra this year to receive the tax rebate payments beginning in May. The rebates are part of the economic stimulus bill that was signed into law earlier this week.

New IRS tax form helps homeowners with mortgage relief
Homeowners whose mortgage debt was partly or entirely forgiven during 2007 may be able to claim special tax relief by filling out newly-revised Form 982 and attaching it to their 2007 federal income tax return, according to the Internal Revenue Service.

IRS announces AMT-affected tax return processing back on track
The Internal Revenue Service is now processing five tax forms affected by legislation involving the Alternative Minimum Tax. On Monday, IRS systems began to accept and process returns that include the five affected forms. After several days of processing, the IRS has confirmed all systems are working properly.


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Ryan Williams:
Tech Better
How To Determine Why Your Computer Is Running Slow

This question was submitted by a reader in New Jersey. The reader wants to know how to determine why her computer is running slowly. Thank you for the question. This is a relatively easy thing to do and should help a lot of people.

FEI Financial Reporting Blog
SEC's Cox, Treasury's Paulson, Fed's Bernanke to Testify to Senate Banking; AIG Announces $4 Billion Loss as PwC Finds Material Weakness; Lerach Sentenced; Lincoln's Advice

FEI Financial Reporting Blog provides highlights from SEC, PCAOB, FASB, IASB, and other regulatory news, including news relating to reporting under Sarbanes-Oxley Section 404. It is written by Edith Orenstein, Director of Technical Policy Analysis at Financial Executives International (FEI), an association of over 15,000 senior financial executives.

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Try your luck! Win valuable prizes!
This week's Student Zone quiz is "Quiz on US GAAP vs. IFRS" and is brought to us by Barbara W. Scofield, PhD, CPA - Associate Professor of Accounting and Director of the Financial Accounting Concentration, University of Dallas, Irving, Texas. Try your luck! Win valuable prizes!

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International GAAP 2008 2 Volume Set
IFRSs, the standards set by the International Accounting Standards Board (IASB), are complex and sometimes obscure. Understanding their implications and applying them appropriately requires something special....and that is why International GAAPR 2008 is the essential tool for anyone applying, auditing, interpreting, regulating, studying and teaching international financial reporting. It provides expert interpretation and practical guidance for busy professionals, and includes, in every chapter, detailed analysis of how complex financial reporting problems can be resolved appropriately and effectively.

Publisher's Note

According to a Columbia University study, our smiles affect our earnings. The Columbia researchers analyzed the effect of childhood exposure to fluoride on adult income, and found that adults who were raised in communities with fluoridated water make about four-percent more than those who weren't raised with this element in their water.

The next time you're walking down the hall at your place of employment, and you're passing the sourpuss of the firm or company, look him/her straight in the eye and give 'em the biggest smile you've ever created. Maybe the smile won't be contagious, but you'll keep them guessing. Then, go to the break room and pour yourself some fluoridated water. Happy Valentine's Day.

Rob Nance

Latest News

Firm/State News

PKF Texas director named chairman of Houston Technology Center advisory board
Gregory Price, CPA, director of consulting solutions for Pannell Kerr Forster of Texas, P.C. (PKF Texas), has been named chairman of the Houston Technology Center (HTC) advisory board.

Lite News

Small business travelers need to leave some "baggage" at home
Although many small business owners take "working" vacations, the American Small Business Travelers Alliance has five simple rules small businesses can follow to achieve an effective work-vacation balance.

Tech News

New strategy for building online communities
Building online communities for stakeholders including employees, staff, customers, and partners to increase communication, collaboration, and learning is a crucial strategic program to attract and retain the next generation of employees. Generally, it takes a catalyst to push stakeholders to interact online - especially the over-30 crowd.

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