IRS Releases Draft Form for Small-Business Health Care Tax Credit»
09/10/2010
The IRS on Tuesday released a draft of the form small businesses will use to calculate and claim the new health care tax credit. Eligible businesses with 25 or fewer full-time employees and less than $50,000 in average wages per year, and that contribute at least half the cost of single coverage toward buying health insurance for their employees, can claim a credit equal to 35 percent of the premiums they pay (25 percent for eligible tax-exempt organizations).
PCAOB Solicits Feedback on Proposed Communications Standard»
09/10/2010
The Public Company Accounting Oversight Board (PCAOB) is holding an open round-table discussion and once again accepting public comment on its proposed standard for how auditors can communicate with audit committees. The round table will be held Sept. 21 in Washington and streamed live on the PCAOB website. The public comment period, which previously closed May 28, is now reopened until Oct. 21.
AICPA to Launch CFF Credentialing Exam Sept. 1 »
09/03/2010
Since its introduction in 2008, the AICPA has awarded the Certified in Financial Forensics credential to more than 3,900 professionals. Beginning Sept. 1, candidates will be required to successfully pass the newly introduced AICPA CFF qualifying examination. The 2010 examination cycle is scheduled for Sept. 29 through Oct. 29. Registration for the exam will begin Sept. 1 and last through Oct. 1.
IRS Issues Proposals to Implement Return Preparer Registration and Testing Plans»
08/20/2010
The Internal Revenue Service has published proposed changes to Circular 230 that would implement the registration and testing portions of its plan to regulate unenrolled tax return preparers. The changes would also conform the Circular 230 penalty standards to the revised §6694 standards applicable to tax return preparers.
The Coming 1099 Revolution: Are You and Your Clients Ready?»
08/09/2010
Under IRC 6041(a) and (h) as amended by the Patient Protection Act, beginning Jan. 1, 2012, virtually all payments by a trade or business aggregating $600 or more to any single vendor during any calendar year will have to be reported at the end of each calendar year to the vendor and to the IRS on Form 1099.
PCAOB to Crack Down on Firms' Supervision Failures»
08/09/2010
The Public Company Accounting Oversight Board plans to impose more sanctions on accounting firms and managers that don't adequately supervise their staff.
Board of Accountancy Advisory Ruling Regarding the Practice Privileges of Out-of-State Licensees »
07/06/2010
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The Days of Short Term GRATs May Be Limited»
07/01/2010
Legislation to restrict the use of GRATs has been passed by the House of Representatives in two separate bills, most recently on June 15, 2010 in the Small Business Jobs Tax Relief Act of 2010.
Overview of AICPA's Certified in Financial Forensics (CFF) Credential »
06/30/2010
New for 2010 - Beginning September 1, 2010 you must pass the CFF Examination to attain the CFF Credential.The exam is scheduled for September 29th through October 29th2010. Registration for the exam will begin September 1st and last through October 1st.
Statements from the AICPA and Center for Audit Quality Regarding Supreme Court's Decision On PCAOB»
06/28/2010
10th Women's Golf Outing»
06/11/2010
The MSCPA's 9th Annual Women's Golf Outing was another success, raising money for the MSCPA's Educational Foundation.
2010 PCPS/TSCPA National MAP Survey '€" Online Now!»
05/26/2010
Ever wondered how your firm stacks up against other firms? Are you curious to know what technology or software firms from around the country are embracing? Or, how are other firms like yours managing through the economic recovery period? Find out by taking part in the CPA profession's premier benchmarking study - the PCPS/TSCPA National MAP Survey.
Advisors Can Become Scapegoats For Troubled Businesses, Attorney Warns»
05/14/2010
When the Internal Revenue Service went after two Deerfield, Mass.-based businesses for unpaid payroll and sales taxes, the president and CEO of those companies sought to pin the blame on an outside Certified Public Accountant. And while a Franklin County jury cleared the accountant of all wrongdoing after deliberating for just two hours on April 22, the case nonetheless highlights how outside advisors face greater risk of becoming scapegoats amid today's troubled economy, said Nancy M. Reimer, the veteran LeClairRyan attorney who successfully defended the CPA in the three-day trial.
