California CPA articles from January 2007

California CPA archives from January 2007

Getting to know you ...(CalCPA News)(Brief article)
January 1, 2007... Does CalCPA know where you work and what you do? The more we know about you, the better value we will deliver. And, rest assured, even if you provide us with business information, you can still choose to have all information delivered to...

New-look: CalCPA classifieds.(News& Trends)
January 1, 2007... Improved features allow you to optimize your ability to deliver your message by pin pointing location, category and other key search parameters. What's more--we now offer unlimited text at one low price. And, CalCPA members may post...

IRS, FTB liaison meeting Q & As available.(CalCPA News)
January 1, 2007... Print versions of CalCPA's Committee on Taxation's 2006 liaison meeting Q & As with the IRS and FTB are available. Send your request by May 18, along with a $ 10 check payable to CalCPA, to: Cindy Kuhlman; CalCPA; 1201 K St., Suite 1000;...

TOP 5 challenges for CFOs.(News &Trends)
January 1, 2007... In a survey, CFOs were asked which of the following is the greatest challenge for financial executives: 2006 2001 1. Time management 46% 36% 2. Keeping up with technology ...

Final sexual harassment training regs.(HR News)
January 1, 2007... The Fair Employment and Housing Commission adopted final regs regarding sexual-harassment training, including detailing the requirements for the content of the training and expertise of training providers. The regulatory process requires...

Irs issues appraisal guidance, seeks comment.(IRS News)
January 1, 2007... The IRS issued transitional guidance on the new definitions of "qualified appraisal" and "qualified appraiser" under IRC Sec. 170(f)(11) Key provisions in this transitional guidance, issued in Notice 226-96, include: [ILLUSTRATION...

We need to implement.(News & Trends)
January 1, 2007... We need to implement the law in ways that better balance the benefits of the legislation with the very significant Costs that it imposes. U.S. Treasury Secretary Henry Paulson

Second chance.(EDUCATION FOUNDATION FOCUS)
January 1, 2007... Get Your Recorded Webcast Did you miss the 2006 Tax Update and Planning Conference? The webcast is available for sale on the California CPA Education Foundation's website. [ILLUSTRATION OMITTED] This webcast is just one of...

tick tock.(News&Trends)
January 1, 2007... tick tock: 46% of CFOs polled said time management is their greatest challenge, despite technological advances designed to streamline workloads

New formula for telephone tax refund.(IRS News)(Brief article)
January 1, 2007... A new formula for businesses and tax-exempt organizations helps both to estimate tax refunds and avoid tracking down old phone bills. To use the formula, eligible taxpayers need only review their phone bills for two months, instead of all...

Installment agreement user fees to increase.(INCREASED USER FEES)
January 1, 2007... The IRS has increased user fees for installment agreements due to increases in labor costs and money spent processing the various applications. [ILLUSTRATION OMITTED] As of Jan. 1, 2007, the new fees are: * Direct debit...

Refunds for 95,746 taxpayers.(INCREASED USER FEES)(Brief article)
January 1, 2007... An average refund of $963 is waiting for more than 90,000 taxpayers whose refund checks have been returned to the IRS as undeliverable. The checks, worth a total of $92.2 million, can be claimed once owners update their addresses with the...

Dunleavy retires after 27 years.(EDUCATION FOUNDATION NEWS)
January 1, 2007... After 27 years of leadership, John Dunleavy has retired from his position as executive director of the California CPA Education Foundation. During his tenure, the Foundation has marked various milestones in its development, including the:...

Tax talk.(News & Trends)
January 1, 2007... tax talk: 41% of taxpayer households contacted the IRS at least once over the past year seeking help--IRS Oversight Board

Where do you stand?({2006 PCPS/TSCPA National MAP Survey})(Brief article)
January 1, 2007... Results of the 2006 PCPS/TSCPA National MAP Survey are available. This valuable tool will allow your firm to benchmark management policies and financial results against other firms--on national and state levels--and gain strategic guidance to...

SEC enhances online search capabilities for investors.(SOX News)
January 1, 2007... Investors now can search the contents of the disclosure documents filed electronically with the SEC using a new full-text search tool on the SEC's website. The newly searchable information includes registration statements; annual and...

Paulson: SOX enforcement needs to change, not law.(SOX News)(Treasury Secretary Henry Paulson, Sarbanes-Oxley Act)(Brief article)
January 1, 2007... Treasury Secretary Henry Paulson said he doesn't see a need to change the Sarbanes-Oxley Act, but changes are needed in the enforcement of that law. "We need to implement the law in ways that better balance the benefits of the legislation...

GASB'S Comprehensive Implementation Guide.(GASB News)(Brief article)
January 1, 2007... The Governmental Accounting Standards Board has published the 2006-07 edition of its Comprehensive Implementation Guide, which consolidates and updates previously issued guides to individual standards and provides guidance on standards for...

The article "line of defense".(CLARIFICATIONS)(Correction notice)
January 1, 2007... The article "Line of Defense" (California CPA, November 2006) should have stated that an express delivery service lost a laptop belonging to the AICPA containing the personal information of many AICPA members. Under the subhead...

Training time.(News & Trends)
January 1, 2007... training time: 70% of respondents to an online poll said they need additional training on their company's records retention policies and procedures-Deloitte

Membermilestones.(News & Trends)
January 1, 2007... IN MEMORIAM Robert C. Daney, a longtime active CalCPA member, died Nov. 4. He was 57. Bob joined the CPA firm of Backstrom Neal and Company in San Jose in 1981, becoming managing partner in 1986. The firm later became Brach, Neal, Daney &...

Find your way: from disaster preparedness to succession planning, CalCPA resources and benefits for smaller CPA firms.(Cover story)
January 1, 2007... Starting and operating a small CPA practice can be daunting, but CalCPA offers tools that have been helping CPA make the journey with a bit more confidence. [ILLUSTRATION OMITTED] "I would not be a solo practitioner without CalCPA and...

Interstate mobility: if you think you're not holding out as a CPA in another state, think again.(PRACTICE PRIVILEGE)
January 1, 2007... You may have seen recent articles on the impact of the California Board of Accountancy's proposal on regulating interstate mobility, the formation of an AICPA Special Committee on Interstate Mobility and CalCPA's introduction AB 1868, which...

In conflict? take note of conflict of interest issues addressed in circular 230.(PROFESSIONAL ISSUES)
January 1, 2007... Conflict of interest issues are always of paramount importance for CPAs. Conflicts in tax practice, though, are somewhat different than those that may arise during the performance of an attest function, for example. [ILLUSTRATION OMITTED]...

20 Years: 20 tips: CAMICO founding members offer risk management best practices.(RISK MANAGEMENT)
January 1, 2007... After two decades of service with its CPA policyholders, CAMICO has become a national repository of risk management knowledge for accounting firms. Four of CAMICOs founding member firms have offered the following 20 risk management tips they...

IRS talks: appeal Hearings, e-services, Package X and more fill liaison meeting.(federal tax)
January 1, 2007... Cal CPA's Committee on Taxation had its annual audience with the IRS during a Nov. 8 liaison meeting. [ILLUSTRATION OMITTED] In all, 61 questions were submitted to the IRS, dealing with everything from appeal hearing delays to gift tax...

Appraisal adjustments: pension protection act: new language of appraisal, valuation.(federal tax)
January 1, 2007... The Pension Protection Act signed into law Aug. 17, 2006, changes the way appraisals are handled by the IRS--and forces practitioners to rethink their procedures in a number of areas that deal with asset values in the preparation of tax...

CBA happenings; audit documentation, license requirements and more fill plate.(government relations)(California Board of Accountancy)
January 1, 2007... These CalCPA members have been elected officers of the California Board of Accountancy for the coming year: David Swartz (president); Don Driftmier (vice president); and Robert Petersen (treasurer). [ILLUSTRATION OMITTED] Audit...

Sales & use Tax Update: BOE goes hunting, impact of phone excise tax and more.(california tax)(Board of Equalization)
January 1, 2007... Effective Jan. 1, 2007, a 40 percent penalty is added to the California Sales and Use Tax Law. The tax applies to any retailer who charges the tax and then fails to remit the funds on time to the state. It also applies to retailers who...