|
Find Business Topics Fast
Using New IRS Index
Researching IRS.gov for
business needs is easier with an
A-Z Index for Businesses. Topics are arranged by business type, business
subjects and alphabetically to help business owners find information fast.
 Return to Top
CPE Credit; One More
Chance to Enter!
Patrick Chmiel, of Patrick E. Chmiel CPA in Troy, is this week's lucky winner
of a $100 CPE credit. Chmiel utilized MACPA's online registration last week,
and was automatically entered in today's drawing from all of last week’s
online registrants. Each week through the end of June, one lucky CPE
registrant will win a $100 credit toward a future MACPA CPE program.
Register online for a CPE program before June 30, and your name will be
automatically entered into the final weekly drawing each time you register.
The last drawing will be held on Monday, July 2nd from the previous week's
registrants. The winner will be announced in E-News. Good luck to everyone!
Return to Top
IRS Advises Employers,
Payers, Agents to Use New Appointment Form 2678
To avoid delays in having the IRS approve agent appointments, the IRS says employers, payers and their agents should begin using a new,
improved version of the
agent appointment form immediately. All versions prior to the May 2007 form are
now obsolete.
Form 2678,
Employer/Payer Appointment of Agent, authorizes an agent to file tax returns
and deposit and pay employment or other withholding taxes on an employer or
payer's behalf. However, the employer retains responsibility for filing Form
940, Employer's Annual Federal Unemployment (FUTA) Tax Return, and
depositing and paying FUTA tax. The IRS recently redesigned Form 2678 to
make it clearer and more user friendly.
Return to Top
Financial Accounting
Standards Board to Form Resource Group on Valuation Guidance Issues
Based on the feedback received through a
comment process and a public roundtable, the Financial Accounting Standards
Board (FASB) plans to form a resource group on
valuation
guidance issues. This resource group will provide the Board with potential clarifying guidance on issues relating to the application of
the principles of FASB Statement No. 157, Fair Value Measurements, to fair
value information required or permitted under U.S. GAAP. This input will
also include alternative views and practical solutions to such issues. The
first resource group meeting will take place during the third quarter of 2007 to
assist the Board in evaluating any known implementation issues.
Return to Top
Fraudsters Claim Red
Cross Connection in New Phishing Scam
The Federal Trade Commission warns consumers
about a
scam
targeting families of military members. A caller, claiming to work for the
Red Cross, notifies an individual that their family member has been injured
while on duty. To get immediate aid to the injured service member, the
caller says, paperwork must be completed, and personal information must be
verified. Typical of a "phishing" scam, identity thieves claim to represent
a trusted source – a bank, a government agency, or in this case, The
American Red Cross – to get someone to divulge their personal information.
The FTC urges military family members not to give out personal information
on the phone if they are contacted by an individual they don't know – or via
the Internet if the message comes via e-mail. For more information about phishing, visit this
web site.
Return to Top
IRS Expands Project to
Ensure Eligible Public School Employees are Allowed to Participate in
Retirement Annuities
The Internal Revenue Service is expanding an
outreach effort to ensure that public schools throughout the United
States are complying with the universal availability requirement for
retirement annuities they may offer. Some schools and school districts may
be overlooking offering employees the opportunity to participate in these
retirement plans. The law requires that all public school employees normally
expected to work 20 hours per week must be offered the opportunity to
participate in a 403(b) plan if the school or district sponsors one. To
assess the level of compliance, the IRS's Employee Plans Compliance Unit (EPCU),
has started sending questionnaires to public school districts in all 50
states under the auspices of the 403(b) Universal Availability project.
Schools that receive the questionnaire should answer it completely and
accurately.
Return to Top
Networking
Solutions for SMBs
A partnership between Extreme Networks and
Avaya will enable small and mid-size businesses to develop end-to-end IP
networks. Switches from Extreme Network can be used with Avaya IP Office,
offering centralized network management, bandwidth management, and security
and recovery capabilities. 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.
Return to Top
|
Return
to Top