FYI


The Financial Accounting Foundation, which funds and oversees the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB), appointed Thomas J. Linsmeier, CPA, to FASB for a five-year term that began July 1. A nationally respected accounting educator and researcher, he is chairman of the department of accounting and information systems in the Eli Broad College of Business at Michigan State University. He succeeded Katherine Schipper.

Corrections

The URL www.ifccfbi.gov , cited in “Five Tips for Safe Job Searches” in the July Top Line column (page 13), changed to www.ic3.gov after press time.

A June 2006 graphic (page 82) incorrectly cited information about tax crimes prosecuted in 2005. The IRS recommended 157 criminal prosecutions for tax crimes committed by return preparers to the Justice Department that year.

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The technology assessment engagement

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Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.