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GASB Reconciles
Disclosure Requirements for Governmental Pensions and Retiree Healthcare
On May 31, 2007, the Governmental Accounting Standards Board (GASB)
issued
Statement No. 50, Pension Disclosures, which more closely aligns current
pension disclosure requirements for governments with those that governments
are beginning to implement for retiree health insurance and other
post-employment benefits.
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IRS Encourages
Taxpayers to Safeguard Tax, Financial Records
In the midst of tornado season and the start
of hurricane season, the IRS encourages taxpayers to safeguard their
records. Some simple steps can help taxpayers and businesses protect
financial and tax records in case of hurricanes and other disasters.
Read more on simple ways to safeguard your business records and for tips
you can share with employees and clients.
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New E-mail Scams Pose as
IRS
Last Thursday, the IRS
alerted taxpayers about the latest versions of an e-mail scam intended
to fool people into believing they are under investigation by the agency’s
Criminal Investigation division. The e-mail seeks to entice people to click
on a link or open an attachment to learn more information about the
complaint against them. The e-mail link and attachment is a Trojan Horse
that can take over the person’s computer hard drive and allow someone to
have remote access to the computer. Similar e-mail variations, apparently
aimed at business and individual taxpayers, suggest a customer has filed a
complaint against a company and the IRS can act as an arbitrator. The IRS
does not send out unsolicited e-mails or ask for detailed personal and
financial information. Additionally, the IRS never asks people for the PIN
numbers, passwords or similar secret access information for their credit
card, bank or other financial accounts.
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FTC Says Governments Must
Do More to Combat Identity Theft
In testimony last week, the Federal Trade
Commission told the Ohio Privacy and Public Records Access Study Committee
that public agencies can “play a key role in reducing the incidence and
impact of
identity theft.” Betsy Broder, assistant director of the FTC’s Division
of Privacy and Identity Protection said government agencies should limit the
amount of information they collect, restrict access to the information, and
implement procedures to respond to data breaches. She said Social Security
numbers, often the key to identity theft, are widely available in federal,
state, and local government public records. She called attention to the
recently delivered comprehensive national strategy to combat identity theft
available on the President’s
Identity Theft Task Force web site. More tips and information are also
available at FTC's
Identity Theft web site.
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Labor Dept. Offers Tips
for Teen Employment
If you have a teen looking for summer work, or
you’re thinking of hiring a teen for the summer, Michigan’s Department of
Labor and Economic Growth offers useful youth employment law information.
For example, Michigan's minimum wage law includes a sub-minimum wage for
those less than 18 years of age (currently $5.91 an hour, increasing to
$6.08 on July 1). Generally, teens must be at least 14 years old for most
jobs; however, children as young as 11 can work as a golf caddy or sports
referee. In addition, there are limits on the hours minors are allowed to
work. Click
here for more details, including links to teen workplace safety and
health information.
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Getting Started: Tools
and Tips for Going Mobile
Mobile employees will easily determine which equipment they need on the road
and which devices can be left at home. Often printers, scanners, and other
bulky items are unnecessary on the road. However, workers will need to be
aware of their data's physical and virtual security, employing firewalls,
passwords, fingerprint scanners, and cable locks to keep thieves out.
To read this article in its entirety and learn much more about developments
in technology, access
Technology and
Productivity Weekly, the MACPA's electronic technology newsletter for
industry professionals, sponsored by Information, Inc.
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