Government Accounting


The Department of the Treasury says the General Accounting Office (GAO) was unable to express an opinion ( www.treas.gov/press/releases/js145.htm ) on the federal government’s fiscal year 2002 financial report ( www.fms.treas.gov/fr/index.html ), released by the Treasury and the Office of Management and Budget at the end of March. According to the GAO ( www.fms.treas.gov/fr/02frusg/02gao.pdf ), material weaknesses in certain agencies’ accounting, reporting and internal control prevented the federal watchdog—for the sixth consecutive year—from expressing an opinion on the government’s consolidated financial statements.

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Get your clients ready for tax season

These year-end tax planning strategies address recent tax law changes enacted to help taxpayers deal with the pandemic, such as tax credits for sick leave and family leave and new rules for retirement plan distributions, as well as techniques for putting your clients in the best possible tax position.

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