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...

By Cathy Stopyra and Todd SimmensUnderpayment interest, refund interest, and penalties charged to businesses are just a few of the considerations the IRS calculates when determining taxation for a given company. Though...
FASB mulling a revamped income statementDavid M. Katz of CFO wrote on Tuesday that the Financial Accounting Standards Board (FASB) is in the early stages of researching whether to launch a project aimed at improving and...
Renaissance avoided more than $6 billion tax, report saysThe Senate Permanent Subcommittee on Investigations said on Monday that a Renaissance Technologies LLC hedge fund’s investors probably avoided more than $6...

Upcoming CPE Webinars

Jul 24
In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the integrity of your spreadsheets, but reduce maintenance as well.
Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.