September 23, 2008
Editor's Note
The IRS has asked the members of the Free File Alliance, those software companies that provide their tax software and electronic filing services at no charge for taxpayers who find their way to the IRS Free File Web page, to agree to raise, or actually obliterate, the ceiling on income so that any taxpayer who wishes to use the free service may do so. The IRS hopes this will increase the number of taxpayers who file electronically.

What the IRS doesn't seem to grasp is that opening the doors to higher income individuals for participation in the free filing project won't be the catalyst that will get more people to file tax returns themselves without the help of a professional tax preparer. The more income a person has, generally the more complicated the tax situation is, and the $15-$20 fee that might be saved on tax return filing is minimal in comparison to the amount that typically can be saved by hiring a professional to help taxpayers sail through the murky waters of the tax code. It's tax reform that will change the system, not a small savings on filing fees.

Best regards,
Gail Perry, CPA
Managing Editor
editor@accountingweb.com


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Back Dating AP Checks
I know that back dating AP checks impacts cash and even more so if they cross over reporting periods. Are there any other issues like Sarbanes-Oxley or audit issues?
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Cashier's check
We bought a cashier's check from our company's bank payable to a collecting agency who will forward the payment to our vendor. How do I record the purchase of the cashier's check from our company's bank? Please enlighten me.
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