Accounting & Auditing (A&A) real world issues discussed at the 2011 Fall Meeting & Education Conference
Philip Santarelli, Chief Risk Officer, ParenteBeard LLC is back by popular demand with two sessions:
• Auditing Smaller, Less Complex Entities
Review a survey of tips and techniques for efficiently auditing smaller entities while still being compliant with generally accepted auditing standards.
• Financial Reporting and Audit Issues Related to the Great Recession
Discuss the important questions: What must auditors do to address the unique risks presented by times of economic uncertainties? How do you deal with difficult audit issues? What happens to asset valuation work when the economy is in trouble?
Save the Date! AAA-CPA Southeast Regional Conference in conjunction with the Florida Bar Tax Section
Oct. 14-16, 2011, Gaylord Palms Resort & Convention Center, Kissimmee, Fla.
Enjoy great education, and networking while surrounded by the grandeur of a turn-of-the-century Florida mansion style hotel, with the modern amenities and deluxe accommodations of a world-renowned luxury resort.
AAA-CPA members receive their first thirty days at no cost, and enjoy a 10 percent discount off of their monthly service
Ruby offers all the benefits of having a personal, on-site receptionist at a fraction of the cost. We'll answer your phone with your custom greeting. We'll screen, announce and transfer your calls anywhere. We'll take your messages, offer voice mail and answer your callers' questions with care. Click here for more information
US senator sees regs on online taxes years off
The Associated Press via Bloomberg Businessweek Share
Republican U.S. Sen. Bob Corker said recently it could be three or four years before Congress passes national guidelines on tax collections by online retailers like Amazon.com Inc. Corker told reporters after a speech to the Smith County Chamber of Commerce that he understands the complaints of local retailers. More
US Chamber of Commerce urges tax code overhaul
San Francisco Chronicle Share
The U.S. Chamber of Commerce is urging the new congressional deficit-reduction committee to overhaul the tax code without taking a position on the central issue of whether higher taxes should be part of the proposal. In a letter sent to the committee members, Bruce Josten, the chamber's chief lobbyist, called for a "complete restructuring of the U.S. tax code" that would lower rates and make the tax code more efficient. More
Grassley questions SEC over records claims
U.S. Senator Charles Grassley asked the Securities and Exchange Commission to answer allegations that the agency destroyed files from initial investigations of firms including Goldman Sachs Group Inc., SAC Capital Advisors LP and Bernard Madoff Investment Securities LLC. Grassley, the top Republican on the Senate Judiciary Committee, made the request in a letter to SEC Chairman Mary Schapiro dated yesterday, citing claims by an agency employee that more than 9,000 such files have been purged. The Iowa lawmaker asked Schapiro to explain whether the SEC routinely destroys documents related to so-called matters under investigation that are dropped in their initial phases. More
IRS workforce challenged by changing tax laws
Acounting Today Share
The Internal Revenue Service had to cope with a great many changes in tax laws last year that put its growing workforce under extra pressure, according to a new report. The report, by the Treasury Inspector General for Tax Administration, found that the IRS needed to contend with 56 tax provisions from the American Recovery and Reinvestment Act of 2009, along with at least 42 out of 514 provisions in the Patient Protection and Affordable Care Act of 2010 that added to or amended the Tax Code. Another eight provisions required the IRS to establish new operations. More
No easy answer on tax issue
The Wall Street Journal Share
After two decades of bipartisan tax policy, nearly half of all American households don't pay federal income taxes. Now, Republican presidential candidates are making a politically challenging case to change that fact. More
IRS issues guidance on 2010 estate tax
Advisor One Share
Estates of decedents who died in 2010 finally have guidance from the IRS on how to opt out of estate tax treatment and allocate carryover basis to estate property. The guidance is long overdue, and leaves little time for estates to make decisions that could have a massive tax impact. More
Higher business taxes may follow Treasury's definition of small
A new definition of what constitutes a small business being considered by the Treasury Department is raising concerns among some closely held companies that it's a step toward requiring them to pay corporate taxes. The proposed definition, included in an Aug. 9 Treasury report, places the upper limit for a small business at $10 million in annual gross income or deductions. Currently, there is no size limit on what constitutes a small business for purposes of tax policy discussions. More