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MAY 29, 2008


IRS e-file program breaks records for 2008 filing season
The Internal Revenue Service's e-file program set another record in the just-finished 2008 filing season, while Web page visits to also reached new highs in part due to interest in economic stimulus payments.

Election Watch: Cindy McCain releases partial tax information
The presidential campaign of Republican presidential candidate John McCain has released the top two pages of Cindy McCain's 2006 income tax return. Only two weeks ago, John McCain's wife vowed she would never make her tax information public.

Override of farm bill veto retains tax incentives
The Senate Thursday, in a 82-13 vote, completed its override of President Bush's veto of the $300 billion Farm Bill, legislation that has prompted widespread criticism for being bloated and benefiting rich farmers.


What have you got to say today?

Linda Cavanaugh, CPA:
Plugged In
I don't want to climb the corporate ladder

I have had several jobs in my career and the ones I disliked the most were supervisor positions. I do not like being responsible for others' work, making sure it is correct or making sure they do the work or even show up for work. I do not want to cover for somebody else....

Financial Reporting Blog
SEC Nominees Set for June 3 Sen. Banking Hearing;SEC To Hold Fair Value RT;IASB Forms Val. WkgGroup; Uproar over IIF Recs on FV

Today we cover a number of topics: (1) The Senate Banking Committee has slated a hearing for June 3 on the three nominees for SEC commissioner, along with certain other nominated federal appointees. (2) FASB announced last week that board member George Batavick will remain on the board until a new board member is picked. (3) As reported yesterday in The Wall Street Journal, SEC Chairman Christopher Cox indicated the SEC will hold a roundtable in July on fair value accounting. And more....

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Quiz Me!

Intermediate Accounting
This week's Student Zone quiz is "Intermediate Accounting" and is brought to us by Jennifer A. Bagwell, MTA, CPA - Instructor, School of Accountancy at Ohio University in Athens, Ohio. Sharpen your skills!

Publisher's Not

  • Addressing more than 450 people at the California Summit on Financial Literacy, Jack O'Connell, state superintendent of public instruction, noted that "the average 21-year-old will spend more than $2.2 million in their lifetime."
  • Written thank-you notes become even more powerful each and every day as so many people stop doing them in favor of sending "thank you" e-mails.
  • Someone should start a Bald Accountants Club. When I get kind of down about being bald, I remind myself that it could be worse. If I had the hair of the Pringles guy, now that would be worse.
If you have not done so yet, please take our quick reader survey. Thank you!

Rob Nance

Latest News

Firm/State News

Auditing Clarity Project, XBRL headline Ohio Accounting Show
The Ohio Society of CPAs kicked off its expanded schedule of highly popular Ohio Accounting Shows last week in Dayton featuring nationally renowned accounting and business leaders addressing major issues such as the Auditing Standards Board's (ASB) Clarity Project, XBRL, financial statement fraud, IFRS, and fair value.

Marcum & Kliegman LLP merges with forensic accounting firm
Marcum & Kliegman LLP, Certified Public Accountants and Consultants, has announced its merger with RosenfarbWinters LLC, the largest forensic accounting firm in the New York metropolitan area.

Student News

Deloitte brings IFRS to the classroom
Deloitte is addressing the urgent need to bring International Financial Reporting Standards (IFRS) education into college classrooms. Through the formation of Deloitte's IFRS University Consortium, Deloitte is contributing essential IFRS resources and materials to help prepare and develop future accounting professionals.

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