April 20, 2011

Sponsored Links: Find the Rewards of ONESOURCE FREE CPE credit webinar on Building a Profitable Payroll Business Spend less time on data entry and more time advising clients with FreshBooks IRS commissioner proposes changes to the tax preparation process Internal Revenue Service Commissioner Douglas Shulman says "looking back" has been the business model of the IRS since its inception in 1862, but dealing with taxpayer issues up-front is where the tax agency should be headed. Read On... 1040 e-file disaster averted: How to meet the filing deadline when your tax return has been rejected Procrastinators beware! Just because you e-filed your tax return before Midnight on April 18, that doesn't mean your tax return is timely filed. The IRS can take up to two days to formally accept the electronically filed tax return once the return is dispatched. Read On... 2009 hiatus on mandatory IRA withdrawals contributes to 2010 penalties Some taxpayers who had arranged for the RMD to be automatically deposited into their checking accounts every December deactivated that service in 2009, when the withdrawal was not required. They're paying the price now in unexpected penalties. Read On... Obama signs repeal of expanded 1099 requirements On Thursday April 14, President Barack Obama signed legislation that repeals both the expanded Form 1099 information reporting requirements mandated by last year's health care legislation and the 1099 reporting requirements imposed on taxpayers who receive rental income enacted as part of last year's Small Business Jobs Act. Read On... Ozzy and Sharon Osbourne at odds with the IRS Not long ago they were one of the richest couples in the United Kingdom. Now Ozzy (real name John) and Sharon Osbourne are up to their eyeballs in tax trouble with Uncle Sam. Read On... Pennsylvania's CPA Players bring levity to accounting profession Darth Vader, CPA? Rick and Ilsa always having Paris and tax write-offs? Hannibal Lecter dining on his CPA with fava beans and Chianti? Memorable scenes from classic movies have all undergone a remake, thanks to the Pennsylvania Institute of Certified Public Accountants (PICPA). Read On...   When IRS Commissioner Douglas Shulman speaks, people listen. And so it is that we're listening carefully as he describes his vision for the future of tax preparation. I have gone on record stating that my personal prediction for the future of public accounting includes an end to individual income tax preparation as we know it. Read On... Best wishes, Gail Perry, CPA Editor-in-Chief editor@accountingweb.com Find the Rewards of ONESOURCE Thomson Reuters brings the spirit of ingenuity to corporate tax departments. ONESOURCE helps you break new boundaries with unprecedented integration and a global reach that keeps you on track. Test your knowledge and a chance to win a $500 gift card. Take the Breaking Boundaries Challenge at www.onesource.thomsonreuters.com/global-launch. FREE CPE credit webinar on Building a Profitable Payroll Business Build your brand and scale your business with SurePayroll's flexible payroll solution designed specifically for Accountants who want the control but not all the work. Register for our FREE CPE credit webinar on Building a Profitable Payroll Business today! Spend less time on data entry and more time advising clients with FreshBooks Help your clients break free of complicated systems, while you join other savvy beancounters who make it happen with FreshBooks. FreshBooks is the fastest way for your small business clients to track time, organize expenses, and invoice their clients. Free Yourself! Market Your Product Through AccountingWEB! Our advertising programs offer a variety of elements and methods which may be combined or used individually as your marketing initiatives dictate. All campaigns include full metrics to measure impact and effectiveness. Linda Monroe Account Executive E-mail me Nicole Jones-Kinney Account Executive E-mail me Unsubscribe from the monthly Tax e-newsletter Copyright © 2011, Sift Media US, Inc. All rights reserved. P.O. Box 2252, Westerville, OH 43086-2252 The Sift Media Portfolio includes: AccountingWEB.com |  USBusinessForums.com |  GoingConcern.com