AccountingWEB Weekly News Wrap-Up - Issue 82


AccountingWEB Weekly News Wrap-Up - Issue 82

February 16, 2001

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**LATEST NEWS***LATEST NEWS***LATEST NEWS**

1. IRS to Step Up Pressure on Non-Withholders
2. Lotus Notes Inventor Does it Again - New Groove Software!
3. When Accounting Firms Enter the World of Group Insurance
4. Planning Opportunities Abound with New IRA Rules
5. Send & Receive Faxes and Voicemail From Your Computer
6. Tax Tip: How To Prepare Your Tax Return For Mailing
7. FASB Issues Exposure Draft on Business Combinations
8. Baptist Temple Seized for Tax Evasion
9. Guide to Using an ASP to Outsource the Finance Function
10.Personal Planning and Coaching for Your Firm

Editorial:

FreeEdgar, the free e-mail service that provides consumers with an e-mail notification of SEC filings of particular companies, announced this week that it will begin charging a $9.95 per month fee for customers tracking over five companies. This is just the latest of an ongoing trend across the Internet to begin getting consumers accustomed to paying for services that they deem valuable. As Internet-based services continue to adjust their business models, you will continue to see more and more of these fee-for-access services. The good ones will be well worth the costs - valuable targeted information delivered at a fraction of the traditional costs.

Gail Perry
Managing Editor
mailto:gperry@accountingweb.com

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1. IRS to Step Up Pressure on Non-Withholders
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The IRS plans to investigate several businesses that have been publicly proclaiming they do not withhold payroll taxes on wages paid to their employees. What's the reasoning behind this disregard for the law, and what will happen to these businesses?
http://www.accountingweb.com/item/38359/101

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2. Lotus Notes Inventor Does it Again - New Groove Software!
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Ray Ozzie, the inventor of Lotus Notes, one of the most well designed client-server applications ever, has designed a new software program, Groove, which could be an even bigger deal than Notes.
http://www.accountingweb.com/item/38039/101

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3. When Accounting Firms Enter the World of Group Insurance
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Herbert Lichtman, President of GroupWorks, presented a workshop filled with useful information for anyone who wants to advise clients on how to make choices about group insurance options. Learn more about this complicated field and how to partner with existing insurance providers to help your clients pick the best plan.
http://www.accountingweb.com/item/37023/101

AccountingWEB's PressZONE Member News


Intacct Raises $21 Million in Funding -
http://www.accountingweb.com/item/38558/101


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4. Planning Opportunities Abound with New IRA Rules
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The rules have changed regarding distributions from IRA accounts, and you need to know how these rules will affect you, your parents, your friends, and your clients. Find out what has changed, and learn more about planning options that you can share with your clients.
http://www.accountingweb.com/item/37799/101

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5. Send & Receive Faxes and Voicemail From Your Computer
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Stay in touch with the rest of the world, no matter how far you travel. Find out how you can stay connected to your business using this Internet Tool.
http://www.accountingweb.com/item/38448/101

AccountingWEB's Featured TaxZONE Service - Tax Calendar


Make sure you examine AccountingWEB's Tax Calendar, and keep up with monthly filing deadlines.
http://www.accountingweb.com/tax/calendar1.html

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6. Tax Tip: How To Prepare Your Tax Return For Mailing
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What should you attach and in what order? Where does the return get filed? How should payments be submitted? What simple omission can invalidate your return? Find out these answers and more in this tax tip for individual taxpayers and tax practitioners.
http://www.accountingweb.com/item/38836/101

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7. FASB Issues Exposure Draft on Business Combinations
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The Financial Accounting Standards Board has released its limited revision of the proposed statement, "Business Combinations and Intangible Assets - Accounting for Goodwill." Download the free exposure draft for more details!
http://www.accountingweb.com/item/38672/101

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8. Baptist Temple Seized for Tax Evasion
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For the first time ever, the IRS has taken possession of a church after a prolonged fight over unpaid payroll taxes. The church argued unsuccessfully all the way to the U.S. Supreme Court that they were exempt from such taxation.
http://www.accountingweb.com/item/38089/101

Our Sponsor’s Special Offer


Market your knowledge and expertise online for free. Mondaq publishes and distributes professionals' articles on a variety of business areas. Including: finance, legal, offshore, accountancy and tax. Through our global network of affiliate firms we can maximize the reach of your expertise. All on a FREE to publish FREE to view basis. Just click on Write for Mondaq at http://www.mondaq.com/ads.asp?cid=36


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9. Guide to Using an ASP to Outsource the Finance Function
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CFO Magazine's "Top 10 Issues for CFOs Considering an ASP to Outsource Finance Processes" is available for free.
http://www.accountingweb.com/item/38315/101

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10. Personal Planning and Coaching for Your Firm
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Terri Sommella, President of Sommella Market Strategies, explained how personal planning can provide immediate return to your firm's marketing investment in a live workshop at AccountingWEB.
http://www.accountingweb.com/item/36912/101

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AccountingWEB's Workshop Schedule
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Be sure to mark your calendar for the following free workshops.
All workshops are from 4:00 - 5:00 Eastern Standard Time
http://www.accountingweb.com/workshop

Tuesday, February 20, 2001
"Becoming More Market Driven - Getting Closer to Your Clients"
http://www.accountingweb.com/item/37114/101
Presenter: Suzanne Lowe, President, Expertise Marketing
Add to Outlook calendar: http://www.accountingweb.com/workshop/feb20.vcs

Thursday, February 22, 2001
Developing and Running Industry or Client Task Forces"
http://www.accountingweb.com/item/37115/101
Presenter: Phyllis Weiss Haserot, President, Practice Development Counsel
Add to Outlook calendar: http://www.accountingweb.com/workshop/feb22.vcs

Are you interested in presenting an AccountingWEB workshop? If so, please contact us.
Gail A. Perry
Managing Editor
mailto:gperry@accountingweb.com

Q&A Forum
========================

Whether you have questions on tax related items, software downloads or need to find an answer to a problem, AccountingWEB's Q&A Forum is the place to go. Here are some of our latest questions. Click on the link(s) below to offer your insight and feedback:

* Property has been abandoned in a bankruptcy proceeding. What are the IRS reporting requirements with relation to this property?
http://www.accountingweb.com/item/38632/101

* Should the Percentage of Completion Method be used when there are only short-term contracts?
http://www.accountingweb.com/item/38591/101

* Information is needed as to how Congress has instituted particular concepts, including the Tax Benefit Rule and Pay-as-you-go, into the tax laws.
http://www.accountingweb.com/item/38587/101

* Can a homeowner deduct points paid on his behalf by the developer on a new home loan?
http://www.accountingweb.com/item/38330/101

* Is there a search engine that searches for XBRL tags?
http://www.accountingweb.com/item/38320/101

Visit the Q&A Forum and share your ideas! Simply click on the Add Comments option at the bottom of any question to add your response and comments.
http://www.accountingweb.com/help/anyanswers.html

Many thanks to Lawrence Traynor, Roy Honaker, Ankur Sharma, David Darst, Sudhir Kumar, Scott Olinger, Mariam Humza, Greg Misiorek, D.Arcement, and Harry Kafka for recent comments and answers to questions.

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