FYI


FYI

A congressional study assesses the current U.S. economic slowdown and offers varied scenarios for an eventual recovery ( www.house.gov/jec/press/2001/07-03-1.htm ).

Following Senate banking committee approval, the full Senate confirms Harvey L. Pitt’s nomination to the SEC. Since President George W. Bush has indicated he will appoint Pitt SEC chairman if the Senate confirms him, that formality is expected to take place soon. ( www.senate.gov/~banking/prel01/0724pitt.htm ).

Lynn E. Turner, the chief accountant of the SEC, leaves for an academic post in which he will continue his advocacy of high-quality financial reporting, a focal point of his commission tenure ( www.sec.gov/news/press/2001-77.txt ).

The SEC’s enforcement chief resigns, and it names an interim successor ( www.sec.gov/news/press/2001-68.txt ; www.sec.gov/news/press/2001-69.txt )

The AICPA issues a guide for lawmakers and other public policymakers to help them evaluate proposed changes in the tax system ( http://ftp.aicpa.org/public/download/members/div/tax/3-01.pdf ).

A new book explains what CPAs need to know about XBRL (extensible business reporting language) ( www.cpa2biz.com/CS2000/Products/CPA2BIZ/XBRL+Essentials.htm ).

SPONSORED REPORT

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.

QUIZ

News quiz: IRS warning on cyberattacks and a change in pension rules

Once again, the IRS sounds the alarm about a threat from cyberthieves. See how much you know about this and other recent news with this short quiz.

CHECKLIST

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.