AAA-CPA Beth Tucker and Nina Olson of the Internal Revenue Service Keynote Presenters at Fall Meeting & Education Conference
Join us Nov. 2-6, 2011, in New York City for the 2011 Fall Meeting & Education Conference. Here the latest from high ranking officials at the Internal Revenue Service:
• Beth Tucker, Deputy Commissioner, Internal Revenue Service
Deputy Commissioner Tucker will discuss how the IRS is strengthening its partnership with tax professionals to respond to today's challenges. She will touch on several of the new initiatives the IRS is facing as well as the challenges, including workforce issues and enhanced technology. She will share how the IRS is helping taxpayers meet their responsibilities during economic hardship, and the continuing need to promote fairness in the tax system by employing enforcement tools when appropriate.
• Nina Olson, National Taxpayer Advocate, Internal Revenue Service
In her 2010 Annual Report to Congress, the National Taxpayer Advocate identified three major challenges for the IRS over the next 10 years: the overwhelming complexity of the Internal Revenue Code, the delivery of social and economic program delivery into an IRS revenue collection structure and the movement toward greater automation at the expense of personal interaction with taxpayers.
Register now by visiting us online at www.attorney-cpa.com.
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5 taxes that didn't exist 40 years ago
San Francisco Chronicle Share
Coined by an unknown author, "Born free, taxed to death" is a saying many of us have heard, but we could add "taxed after death" as well - at least our families might be. Americans have incurred so many taxes over the last 100 years, even the Internal Revenue Services (IRS) has a difficult time listing them all. Because of these taxes, it is now taking longer and longer for Americans to begin working just for themselves. More
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Obama turns to old playbook to grow jobs with tax cuts, spending
San Francisco Chronicle Share
President Barack Obama's $447 billion jobs plan will sound familiar to anyone who has followed the government's struggles to boost the economy through tax cuts and spending on roads, jobless benefits and education. His call for payroll-tax breaks, extending unemployment assistance, increasing infrastructure spending and aiding cash-strapped state governments' amounts to extending, tweaking or reviving policies lawmakers have already tried in the years-long effort to reduce unemployment. More
SEC asks court to force a release of papers from China
Bloomberg News via The New York Times Share
The Securities and Exchange Commission has asked a federal court to force a Chinese affiliate of Deloitte, the accounting giant, to produce documents related to an investigation into one of its former auditing clients, Longtop Financial Technologies. The affiliate, Deloitte & Touche Tohmatsu, which is based in Shanghai, has not provided any documents to the commission, which issued subpoenas to the firm on May 27, the agency said in a statement. As a result, the S.E.C. said it has been unable to access critical information in its investigation into possible fraud at Longtop. More
Senators introduce bill to promote S-ESOPs
Accounting Today Share
A bipartisan trio of senators has introduced legislation that would foster the growth of S corporations owned by Employee Stock Ownership Plans, or S-ESOPs. The bill, sponsored by Senators Ben Cardin, D-Md., Pat Roberts, R-Kan., and Olympia Snowe, R-Maine, is known as the Promotion and Expansion of Private Employee Ownership Act of 2011, or S. 1512. Similar legislation in the House was introduced earlier this year and so far has been endorsed by 18 Republicans and 18 Democrats. More
Amazon agrees to collect state tax in California
Amazon and California have reached a deal on sales taxes. The online retailing giant, which doesn't collect sales taxes in the state, has agreed to start collecting them a year from now. Amazon has long enjoyed a huge advantage by not collecting the tax - like brick-and-mortar stores do. Consumers pay that much less for the same goods. More