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It might seem strange, pairing the phrase “love fest” with the AICPA Fall Council meeting, but I tell you, the lovely and heartfelt moments were flowing as freely as the wine and margaritas at the opening reception.
October 28 -
“An emperor of a prosperous city who cares more about clothes than military pursuits or entertainment hires two swindlers who promise him the finest suit of clothes from the most beautiful cloth. This cloth, they tell him, is invisible to anyone who was either stupid or unfit for his position. The Emperor cannot see the (non-existent) cloth, but pretends that he can for fear of appearing stupid; his ministers do the same. When the swindlers report that the suit is finished, they dress him in mime. (acting out a story through body motions, without use of speech—Ed.) The emperor then goes on a procession through the capital showing off his new ‘clothes.’ During the course of the procession, a small child cries out, ‘But he has nothing on!’ The crowd realizes the child is telling the truth. The Emperor, however, holds his head high and continues the procession.”
October 27 -
The Internal Revenue Service has withdrawn a tentative assessment of more than $319 million in tax penalties against FedEx.
October 26 -
An attorney for New York Governor David Paterson's chief of staff has attributed his client's neglect in filing tax returns between 2001 and 2005 to "failure-to-file syndrome."
October 23 -
The Internal Revenue Service said that more than 279,000 economic stimulus checks, totaling about $163 million, and over 104,000 regular refund checks, totaling about $103 million, have been returned by the U.S. Postal Service due to mailing address errors.
October 23 -
A recent study of unpublished Internal Revenue Service data has found that wealthier people are hiding their income at greater rates than those in lower income brackets.
October 22 -
The dispute between the American Bankers Association and the Financial Accounting Standards Board heated up as ABA president Edward Yingling called for a new accounting oversight board that would hold sway over FASB.
October 22 -
The Internal Revenue Service reported that it has seen a strong response to its settlement offer for two types of tax shelters, with companies agreeing to pay back taxes totaling billions of dollars.
October 21 -
Federal Reserve Chairman Ben Bernanke has given new life to calls for an economic stimulus package, but exactly what it will be is anybody's guess.
October 21 -
“As the financial crisis on Wall Street unfolds with intense media coverage, we are losing sight of another crisis: more than a million families across the United States will face foreclosure in the next six months as the last of the subprime mortgages contracted in 2006 and early 2007 reset. Accelerating job losses and low wages aggravate the lives of tens of millions of families. In the rush to focus on Wall Street, these are the families whose lives must not be forgotten.”
October 20 -
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What do you do when your team lacks accountability? In a prior article (Accounting Today, Aug. 18-Sept. 7, 2008), we explored how integrity and ownership affect accountability and how managing your personal integrity and identifying clear ownership for all things in your organization will enable you to develop a more productive, highly functioning team.
October 19 -
Security guard company Superior Protection Inc. and four of its executives were indicted for failing to pay employment taxes and other charges.
October 19 -
One of the defendants in a $60 million trust tax scheme has been sentenced to more than 13 years in prison.
October 19 -
Two recent reports suggest that the movement to register tax return preparers will continue.
October 19 -
Getting a handle on 2008 year-end tax planning is especially challenging this year because of several areas of uncertainty.
October 19 -
The Securities and Exchange Commission plans to hold the first of two roundtable discussions on mark-to-market accounting and current market conditions on Wed., Oct. 29, at 9 am ET.
October 19 -
The Internal Revenue Service said personal exemptions and standard deductions would rise in 2009 to keep pace with inflation, providing more than three dozen tax benefits.
October 16 -
Two of the Internal Revenue Service's newest modernized computer systems were deployed with known security vulnerabilities that could expose confidential taxpayer information, according to a new report from the Treasury Department's inspector general.
October 16 -
The Association for Accounting Marketing is calling for nominees for its Rookie of the Year Award.
October 15