Living Legacy

Robert Mednick, 1996–97 chairman of the AICPA board of directors, is the author of a recently published book, Keeping the Legacy Alive (Andersen Worldwide, Chicago, 1998). This compendium of 19 published articles and papers analyzes the accounting profession worldwide. It encapsulates Mednick’s philosophy and his vision for the profession’s future.

Mednick, who retired as a managing partner from Arthur Andersen in 1998, is currently teaching a graduate course at the Kellogg School of Management, Northwestern University, Evanston, Illinois.

One-Stop Taxing

The IRS and Montana announced the successful testing this spring of a pilot program for single point filing. Under the Simplified Tax and Wage Reporting System (STAWRS), of which this initiative is an integral part, businesses will be able to file both state and federal employment taxes on one form. According to the IRS, the STAWRS program should reduce paperwork and increase accuracy in tax filings.

Businesses participating in the pilot program file their taxes with the Montana Department of Revenue, which in turn transmits the information electronically to the IRS.

The combined tax reporting is a three-year project involving the Department of Labor, the Treasury and the Social Security Administration as well as the IRS and the Montana Department of Revenue.

Getting Dressed for Success

Arthur Andersen employees recently collected more than 4,000 suits for low-income women seeking employment. The firm is a national sponsor for Dress for Success’s annual Clean Your Closet Week. Over 2,800 workers from 36 of Arthur Andersen’s North American offices donated clothing in this year’s drive.

Dress for Success ( ) is a nonprofit organization that provides low-income women with suits for interviews. Each job seeker receives one suit when she has an interview and a second suit when she gets the job.

Get an Online MBA

Beginning in January 2000, New York City’s Lubin School of Business at Pace University plans to offer an online MBA program. The 24-month degree, which will combine Internet-based learning with 10 “face-to-face” residencies at one of Pace’s New York campuses, is designed to meet the needs of experienced managers who cannot attend regular classes. Candidates in the electronic MBA program—called e.MBA@Pace—will work on nine large cross-disciplinary projects and a series of management-skill modules. Students will work independently and collaboratively through the Internet to complete their coursework. Candidates need several years of experience and a commitment to an innovative approach to graduate business education to qualify for the new program, a school official said. Pace’s Web site, for more information, is .

Phoenix CPA Honored

Sandra A. Abalos, CPA and president of Abalos & Associates, PC, recently received the 1999 Working Woman Entrepreneurial Excellence Award for Socially Responsible Leadership. She was selected from over 1,300 nominees for the award, which celebrates top women business owners.

Past honors for Abalos include being named 1996 SBA National Accountant Advocate of the Year and serving as the regional tax implementation chairwoman at a White House conference on small business.


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.