IRS, AICPA Honor Post-Hurricane Pro Bono Work

The Internal Revenue Service (IRS) has presented the American Institute of Certified Public Accountants (AICPA) with an award for “outstanding partnership,” which recognized the Institute’s efforts at recruiting volunteers to prepare tax returns for victims of Hurricanes Katrina, Wilma and Rita in 2005.


Advertisement



A Better Budgeting and Planning Solution is here.

Microsoft® Forecaster is an affordable way to customize your budgeting and planning to give you the control you need to manage your business' performance. As soon as you enter a number, it's available for analysis, allowing you to see how it impacts revenue and costs. This streamlined budgeting and planning solution helps decrease the chance for errors and miscommunication. And with Microsoft Forecaster, changes are easy to make. Even last-minute ones.


Visit www.microsoft.com/forecaster for more information.


The award was presented to AICPA by Richard Morgante, commissioner of the IRS Wage & Investment Division, at the National CPA/IRS Tax Issues Meeting in Washington, D.C., November 8.

“It’s a great example of what can be achieved when government and the private sector work together,” said Tom Ochsenschlager, an AICPA vice president. “CPAs in the Gulf states in particular worked tirelessly to help taxpayers file their tax returns in the wake of these devastating storms.”

A big part of the AICPA’s effort was creation of a similar award. The Institute’s Tax Public Service Award came about in August as incentive for public service and to tax pro bono work by members. The AICPA acknowledged the volunteer effort by awarding the new Tax Public Service Award to Ernst & Young at a conference in Washington, D.C.

Tom Purcell of the AICPA Tax Executive Committee said, “This was a case where the profession mobilized on a national basis to help with a regional tragedy.” He said Ernst & Young coordinated with the IRS Wage & Investment Division, AICPA and the state CPA societies to set up training and coordination for firm volunteers.

Purcell noted that Ernst & Young volunteers prepared complex tax returns that were referred to them by IRS volunteer clinics. The returns generally involved low-income taxpayers with casualty losses, net operating losses or amendments to prior tax returns.

You may like these other stories...

The IRS cautions freelancers and other self-employed individuals to stay on top of the deadlines for filing federal tax returns and the due dates for making payments. Miss just one, says the IRS, and it might exact a sizable...
Bipartisan Cooperation on Tax Refund FraudAs noted in Politico, Senators Wyden and Hatch have introduced a tax refund fraud bill. According to a summary from Senator Hatch's office, the bill would enhance "the...
Camp Hopes Estate Tax Will Be on Its Way OutAn article in Bloomberg said that Republicans are considering voting this year to repeal the U.S. estate tax, according to House Ways and Means Chairman Dave Camp (R.-Mich.). He...

Upcoming CPE Webinars

Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
Aug 20
In this session we'll review best practices for how to generate interest in your firm’s services.
Aug 21
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.
Aug 28
Excel spreadsheets are often akin to the American Wild West, where users can input anything they want into any worksheet cell. Excel's Data Validation feature allows you to restrict user inputs to selected choices, but there are many nuances to the feature that often trip users up.