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2008 Small Business Resource
Guide is Now Available
The
Small Business Resource Guide CD 2008, a one-stop source for all the
information a small business owner needs to comply with federal tax laws, is
now available on IRS.gov.
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U.S.
Department of Labor Launches New Web Tool to Help Employers Comply with
Retirement Laws
The U.S. Department of Labor’s Employee Benefits Security Administration
(EBSA) launched a new interactive Web tool to serve as a resource for
employers in complying with federal employee benefit laws. The
ERISA Fiduciary Advisor is designed to help employers and others who
provide services to private sector retirement plans understand their
responsibilities. The advisor provides an overview of the Employee
Retirement Income Security Act (ERISA), including the most common mistakes
EBSA finds in its investigations, and provides links to additional
information, as well as tools to assist plan officials.
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PCAOB Addresses Emerging
Audit Issues in 2008 Forums on Auditing in the Small Business Environment
Over the next several months, the Public
Company Accounting Oversight Board (PCAOB) will conduct its 2008 series of
its
Forums on Auditing in the Small Business Environment. These forums are
designed to help share important information with registered public
accounting firms and public companies operating in the small business
community. The 2008 agenda will include a discussion of practical quality
control policies and procedures, and evolving accounting and auditing
issues. The discussions also will address the application of certain
auditing standards and observations from the Board’s disciplinary orders. In
addition, the 2008 agenda will include a discussion of the implementation of
Auditing Standard No. 5, An Audit of Internal Control Over Financial
Reporting That Is Integrated with An Audit of Financial Statements.
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IRS Seeks
Nominations for Information Reporting Program Advisory Committee
The IRS is requesting membership nominations for the
Information Reporting Program Advisory Committee. The deadline for
submitting applications is May 30, 2008. Established in 1991, IRPAC provides
recommendations to IRS leadership on a wide range of information reporting
and administration issues. Members include representatives of the taxpaying
public, the tax professional community, small and large businesses, colleges
and universities, state tax administrations, banks, insurance, foreign
financial institutions and the payroll community. The committee presents a
report to the IRS commissioner each year at a public meeting in the fall.
Nominations are currently being accepted for up to six appointments that
begin January 2009.
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Governor Signs
Bills Protecting Consumers from Mortgage Fraud, Unfair Lending Practices
On April 3, Governor Jennifer Granholm signed
a
13-bill package to help protect Michigan consumers from mortgage fraud
and unfair lending practices by requiring the state's estimated 20,000
mortgage loan officers to register with the state's Office of Financial
Services (OFIS). The legislation creates the state's first list of loan
officers and strengthens the state's oversight of the loan industry's
practices by mandating background checks and educational training for loan
officers. It also establishes a mortgage industry advisory board that will
make recommendations to OFIS on educational requirements and loan officer
applications.
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A Simple Act, A
Lasting Legacy
Secretary of State Terri Lynn Land marked the
start of
Donate Life Month on April 1 by encouraging enrollment in Michigan's
Organ Donor Registry. April is designated as Donate Life Month nationally
and in Michigan.
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New FTC Videos Help
Consumers Spot Phishing Scams
The Federal Trade Commission has released
three 60-second videos to help alert consumers to phishing scams. Phishing
uses deceptive spam to trick consumers into divulging sensitive or personal
information, including credit card numbers and other financial data, through
an email or a link to a “copycat” site. The goal of the videos is to offer
practical, useful and memorable messages. The videos are the newest tool on
OnGuardOnline.gov, the agency’s multimedia initiative to help consumers
be on guard against Internet fraud, secure their computers and protect
their personal information. The site features tips, articles, how-to videos,
interactive quizzes, and tutorials in English and Spanish. The new videos
also will be featured on
YouTube and
on the
FTC web site.
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New Poll Says More
American Adults Delaying Major Decisions Due to Financial Concerns
Four in 10 American adults – 41 percent – are
holding off on major life decisions either because they are financially
strapped or worried about the U.S. economy, according to a
poll conducted by Harris Interactive for the AICPA. The decisions
include home ownership, higher education, marriage, children, medical
procedures and retirement. This represents an 11 percentage-point increase
from a year ago, when 30 percent of U.S. adults said they were delaying
these life decisions for the same reasons.
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Lives Depend on
You - Volunteer for the 2008 Race for the Cure®
The
17th Annual Komen Detroit Race for the Cure®
will be on Saturday, May 31 beginning at Comerica Park in Detroit. MACPA
encourages you to join us as a member of our team to help save lives.
Register
today or contact Nicole Shepard at
248.267.3700 for more information.
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Survey Shows
Unified Communications Can Provide the Flexibility to Drive Productivity
Employees that are out of the office unexpectedly as a result of bad
weather or personal needs can potentially cost small businesses nearly
$20,000 a year in lost productivity, according to a recent survey conducted
by Avaya.
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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