AccountingWEB Weekly News Wrap-Up - Issue 105

AccountingWEB Weekly News Wrap-Up - Issue 105

July 27, 2001

This AccountingWEB Newswire Sponsored by:

National Payment Corporation

and

Intuit's QuickBooks ProAdvisor Program

THIS WEEK'S NEWS FROM ACCOUNTINGWEB

1. CCH Announces Enhancements to Tax.CCH.com
2. Accenture to Redesign IRS Web Site
3. Treasury to Offer Four-Week Bills
4. Deloitte Attacks Rivals
5. AccountingWEB Launches CareerZONE
6. IRS Going After Stock Purchase Plans
7. Excel Tip: Wrap Text Within a Cell
8. Flat Tax Resurfaces
9. Poll Finds Opportunity for CPAs and Financial Planners
10. Tax Rebate Scam Comes Up Short

SPECIAL NEW SERVICE ANNOUNCEMENTS

This week we're proud to announce two major additions to the portfolio of services that AccountingWEB provides.

Our new CareerZONE is a joint effort with CareerBank.com to help bridge the gap between supply and demand in the accounting job market. Employers and job seekers now have a place to go on AccountingWEB to find each other quickly and easily. Explore the offerings at http://accountingweb.careerbank.com.

The clarity, relevance, and usefulness of the general business news, tips, and ideas that you have come to expect from AccountingWEB are now available to you for use with your clients. Our new Client Newsletter Content Package service is an extremely cost effective way for you to add valuable ideas, tips, and content to your client newsletters and to your web site. Find out more now.

Michael T. Platt, CEO
AccountingWEB, Inc.
mailto:mplatt@accountingweb.com

IN THE NEWS

1. CCH Announces Enhancements to Tax.CCH.com

CCH Incorporated announces new enhancements to its popular tax.cch.com destination Web site for tax professionals. You'll want to bookmark this site for the most up-to-date tax information.

2. Accenture to Redesign IRS Web Site

Accenture is going to work for the IRS. The five-year, $33.6 million contract was awarded to the consultancy group in the hope that the firm can make the IRS's online library of tax information more readily accessible to the millions of people who visit the IRS Web site each year.

RESTRICTED SITE ACCESS AT ACCOUNTINGWEB

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3. Treasury to Offer Four-Week Bills

The U.S. Treasure Department has announced plans to begin regular offerings of four-week bills. Find out how these short-term investments work.

ACCOUNTINGWEB'S TWO-YEAR ANNIVERSARY NEWSWIRE

Look for this special edition of the AccountingWEB Newswire

It is coming to your e-mail box next week!


4. Deloitte Attacks Rivals

Thumbing its nose at other Big Five firms that are going public with their consultancy practices, Deloitte & Touche went public in its own way with the announcement that, "Deloitte Consulting is proud not to announce an IPO."

5. AccountingWEB Launches CareerZONE

AccountingWEB is proud to announce its newest feature, the CareerZONE. This service will enable AccountingWEB members to post job opportunities to the thousands of professionals seeking employment. It also offers helpful tips and articles on employment and recruiting. Check it out today!

6. IRS Going After Stock Purchase Plans

Claiming they have had the right to tax these plans all along, the IRS is considering exercising its muscle in the area of employee stock purchase plans. Find out how this will affect you.

OUR SPONSOR'S SPECIAL OFFER

In a recent study, employees ranked Payroll Direct Deposit equally as important as 401K programs. Employers said it's the easiest employee benefit program to administer. Our FREE Personalized Pricing & Timing Guide details your cost per payroll and sets the timeline for implementation in your business.


7. Excel Tip: Wrap Text Within a Cell

Sometimes your text is too long for the width of a cell in your Excel spreadsheet. You can change the size of the font and you can change the width of the cell. Both of these techniques help to make text fit within a single cell. But what if you want to leave the font size and the cell size intact? Here's a quick tip for making the text wrap into multiple lines within the cell.

8. Flat Tax Resurfaces

The FairTax Act is getting some play in Congress. Will we ever see a flat, not to mention fair, tax in our lifetime?

BECOME A QUICKBOOKS PROADVISOR!

QuickBooks users seek accountants to set up and support their growing business on QuickBooks, monitor payroll, etc. You'll get a copy of QuickBooks Pro, a listing in our online ProAdvisor Referral Database, Reference and Training Guides, tech support, and more! Visit http://www.quickbooks.com/proadvisor or call 800-498-6404 today!


9. Poll Finds Opportunity for CPAs and Financial Planners

Results of a recent poll show that more than half of U.S. taxpayers plan to seek financial advice regarding the recent changes in the tax laws. An excellent opportunity awaits those who provide advice in this area.

10. Tax Rebate Scam Comes Up Short

A company offering to provide a calculation of the federal income tax rebate for a fee is running into some difficulties with the U.S. Postal Service. Does mail fraud ring a bell?

ACCOUNTINGWEB WORKSHOP SCHEDULE

Tuesday, July 31, 1:00-2:00 EDT
Topic: Creating Value with Business Benchmarking
Presenter: Joe Weston, Associate, Gerke & Associates
Sponsor: BizBench Business Benchmarking Software

Thursday, August 2, 4:00-5:00 EDT
Topic: Free 401(k) and the Ability for Professionals to be Compensated
Presenter: Tom Palka, CFP, RIA Technology

Check out the Workshop Schedule for the upcoming sessions in our ongoing workshop series.

ACCOUNTINGWEB Q & A FORUM

Click on the link(s) below to offer your insight and feedback or to see what others recommend:

1. What resources are available to help a leasing company get up to speed on accounting from the lessor's side?

2. What verbiage should be used in an engagement letter to protect the preparer of a compilation report and provide clear information at the same time?

3. How should the cost of a moving expense reimbursement be reported by the employer?

4. The financial statement presentation of a small financial institution displays the allowance for loan and lease losses as a component of equity capital. Is this proper? For regulatory purposes the ALLL is considered Tier 2 capital, but doesn't the presentation that is described overstate the true equity capital? Can anyone suggest a good reference for bank accounting?

5. Does anyone know of a good interest and penalty calculator for individual income tax returns?

6. As a result of the elevated credit hour earnings required to sit for the CPA exam, many of our recent accounting applicants are seeking a benefit package inclusive of reimbursement for further education expense. How is an equitable plan typically structured?

Visit the Q&A Forum to post your questions and share your ideas! Simply click on the Add Comments option at the bottom of any question to add your response and comments.

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