AccountingWEB US
Should Clients Ditch or Keep Tax Return Records?
Now that the tax return season is over – at least for those filers who didn't request extensions – invariably, some of your clients will ask you this question: How long do I need to keep copies of my tax return?
FASB Seeks More Feedback on Decision-Making Framework
June 21 will likely be an important day for the FASB and the Private Company Council (PCC). That day will mark the end of a public comment period on a proposed private company decision-making framework that the FASB and the PCC are developing.
Marathon Bombing Aftermath: IRS Extends Tax-Filing Deadline for Boston Residents
Boston-area taxpayers and others affected by the tragedy at the Boston Marathon earlier this week now have until July 15 to file their taxes or make payments.
Auditors Must Make a Positive First Impression
The majority of our society is familiar with the phrase "You never get a second chance to make a first impression." While the inherent logic of the phrase is apparent, our minds typically associate the phrase only with an initial face-to-face encounter between individuals.
Keep on Trekkin' – Accounting Pro Still Using TrekDesk
Last January, AccountingWEB had the pleasure of meeting Cindy Mayhak – a fitness pioneer in the accounting profession who decided to break away from her desk without breaking away from the office by using a TrekDesk.
Sticker Shock Awaits Sage 50/Peachtree Payroll Service Users
The 2014 version of Sage 50, formerly known as Peachtree Accounting, is available for purchase now. As a result, certain users who rely on the payroll subscription are going to experience sticker shock in the near future.
Implementing Social Media and Networking Strategies to Market Your Firm
Exposure is vital to the growth of your firm, but the different channels can be intimidating. With endless social media avenues, websites, and networking events, it's easy to get overwhelmed.
NBA Agent LaPoe Smith Jr. Indicted on Tax-Related Crimes
NBA agent LaPoe Smith Jr. of San Antonio is fighting one legal battle after another, though to some extent, the battles are connected. Smith has represented NBA stars that include Antoine Walker, Bo Outlaw, and Penny Hardaway as well as pro athletes from other sports.
Your To-Do List: Unforeseen Events Will Happen
No matter how well we organize our to-do lists and how productive we are in handling the products and tasks, invariably, unexpected obligations, interruptions, and other developments arise that are going to throw us off.
Mix of Old and New Comprise 2014 Vault Accounting 50
Vault.com released its 2014 Vault Accounting 50, a ranking of the fifty best accounting firms in the nation to work for. The survey asked more than 7,900 accountants to assess their peer accounting firms on a scale of one to ten based on prestige and quality of life factors.
2013 Day 72: Celebrate Good Times
Today's workplace fitness exercise will get your heart pumping and help you celebrate – you made it through tax season! Congratulations!
A Few Nuggets Found in Obama and Biden Tax Returns
By Ken Berry
Company Announcements: Week of April 15, 2013
Following is the latest roundup of community news for the week of April 15, 2013.
UPDATE - Tax Man to MLB: "Take Me Out to the Ball Game!"
Smart tax professionals who are aware of existing reciprocity laws can save professional athletes a bundle in taxes they don't really owe. That's why players have to rely on their tax advisors to know where reciprocity laws exist . . . and get it right.
Pace of Tax Return Filings Slower than Last Year
It looks like the last-minute run-up to the April 15 tax deadline has been particularly frantic for accountants, taxpayers, and the IRS this year. According to TIGTA, as of March 9, the IRS had received more than 65 million tax returns, down from the nearly 72 million returns filed during the same period in 2012.
IRS Releases Draft Form 8957 for FATCA Registration
The IRS continues to work on improvements relating to tax reporting of assets held in foreign banking accounts. Now it has released a new draft of Form 8957 that it expects will lead to increased compliance.
Cold CPAs, Warm Hearts – North Carolina Firm Takes Polar Plunge for Special Olympics
Most CPAs simply grab an extra cup of coffee to steel themselves for another grueling day during tax season. But this February, associates from Davenport, Marvin, Joyce & Co., LLP tried a much more "stimulating" approach to jump-start their day.
Crime Watch: April 12, 2013
The United States has filed a civil injunction lawsuit seeking to shut down Mo' Money Taxes of Memphis, Tennessee. The complaint alleges that the estimated tax loss from fraudulent tax return preparation at Mo' Money Taxes in 2011 exceeds $9 million.
IRS Plans to Cut Back on Big Company Audits This Year
The IRS plans to spend 18 percent less time auditing businesses with assets of $10 million or more in its current fiscal year compared to two years ago, according to a report from Syracuse University's Transactional Records Access Clearinghouse (TRAC).
Former KPMG Partner Scott London Charged with Insider Trading
A former KPMG LLP senior audit partner faces federal criminal and civil charges for his involvement in a web of deceit that included tipping off a friend about upcoming corporate earnings releases and merger announcements.
