News Wrap-Up - Issue 290

This News Wrap-Up Brought To You By:

CCH's Accounting Research Manager(TM)

THIS WEEK'S NEWS
  1. Adobe Surveys Taxpayers on Electronic Filing
  2. Firm Alliance Creates Memphis' Largest CPA Resource
  3. Small Business Accountign Gets EDI Link
  4. LexisNexis Breach Affects Hundreds of Thousands
  5. SEC May Delay New Accounting Rules for 6 Months
  6. GASB Issues Concept Statement on Communication
  7. IRS Targets Small Business
  8. FASB Options Rules Also Affect Private Firms
  9. Fannie Mae, Freddie Mac Legislation Likely
  10. Bush Targets State Medicaid Accounting Practice

Check out the News Page for this week's news and more.

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*** PLATT'S PERSPECTIVE ***

Another April 15 has arrived. To those who have been diligently working in the trenches of the tax season, we salute you!

As you turn out the lights this weekend for that long deserved rest, think about the goldmine of information that you have at your fingertips that can help your clients thrive throughout the rest of the year. Tax planning, estate planning, financial planning and wealth planning clues are scattered all throughout the IRS forms you've just completed on your clients' behalf - you just need to shift your thinking from compliance mode to analysis mode to absorb and dissect the meaning of the numbers before you.

So if April 15 is seen as a day to give the clients what the
federal government says they need, consider the incredible value you will bring if the rest of the year was seen as the time to cull through all of their financial data to give clients what they really want! But take a couple of days off first - you earned it.

Michael Platt
AccountingWEB Founder
editor@accountingweb.com

THIS WEEK'S NEWS
  1. Adobe Surveys Taxpayers on Electronic Filing

A new survey released yesterday by Adobe Systems Incorporated found that American taxpayers are growing more comfortable with the Internet and more than half of those surveyed plan to file
their taxes electronically this year.

  1. Firm Alliance Creates Memphis' Largest CPA Resource

Two of the largest accounting firms in the city are taking aim at the Big 4 accounting firms by forming an alliance that will create the largest single resource for CPAs in Memphis.

  1. Small Business Gets EDI Link

RedTail Solutions has created a new program to build and support direct EDI links to several popular small business accounting software applications.

  1. LexisNexis Breach Affects Hundreds of Thousands

Criminals who stole information from a LexisNexis database in the U.S. may have accessed the names, addresses, Social Security and driver license numbers of nearly 310,000 people, the Associated Press reported.

  1. SEC May Delay New Accounting Rules for 6 Months

It's no secret that many US firms are struggling to understand and comply with new rules regarding stock options. The costs of audits and additional staffing to help ensure compliance continue to rise. Businesses are starting to complain. And the federal government is starting to listen.

MORE HEADLINES...

  1. GASB Issues Concept Statement on Communication
  2. IRS Targets Small Business
  3. FASB Options Rules Also Affect Private Firms
  4. Fannie Mae, Freddie Mac Legislation Likely
  5. Bush Targets State Medicaid Accounting Practice

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  1. Tax Wars: Small Firms v. Large National Chains
  2. IRS Targets Small Business
  3. CFOs: It Can Take a Month to Hire New Accountants
  4. Microsoft Prepares to Roll Out Small Business Accounting Software
  5. Survey: Audits Up for Wage-and-Hour Violations

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Nov 24This webcast presents basic principles of revenue recognition, including new ASU 2014-09 for the contract method. Also, CPAs in industries who want a refresher on revenue accounting standards will benefit.
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