August 2009 - Journal of Accountancy

When the IRS announced in June that it would launch a review of tax return preparers, the Maryland Association of CPAs (MACPA) spread the word to its members with a news item on the association Web site. But it didn’t stop there. The association posted the IRS news on its

Twitter has taken the Internet by storm. Like LinkedIn and Facebook, Twitter hosts a growing community of CPAs and financial professionals, but unlike its social-networking peers, the microblogging Web site limits users’ messages, questions and conversations to 140 characters (including spaces). To put this limit into perspective, this paragraph has

Since Congress amended IRC § 7623 in 2006, the IRS’ new Whistleblower Office has seen significant interest from potential informants with tips about multimillion-dollar cases of tax noncompliance. In the first 12 months after it was established in February 2007, the Whistleblower Office received 116 reports of underpayments of more

In the past two years, several federal tax incentives have been extended and enhanced for designing and constructing energy-efficient buildings, both residential and commercial. Some of these measures should be equally attractive for businesses and individuals looking to remodel existing homes and workplaces to save on energy and, as a

In casual, everyday language, it is often said a corporation’s primary role is to generate profits. However, the primary role of a corporation is not to generate profits; it is to create shareholder value. When corporations focus their internal performance measurement systems on short-term profits or accounting returns—not shareholder value—bad

When it comes to qualified retirement plans, the 403(b) has long been the default alternative for nonprofit organizations. The lack of nondiscrimination testing for elective deferrals and no plan audit requirement as well as the ability to avoid Employee Retirement Income Security Act (ERISA) regulations have traditionally been the biggest

In today’s economy, it is more prudent than ever to reconnect if you have not been an active networker. You never know when you may need your contacts, and it is better to offer them assistance now before you need help yourself. Here are some ideas for jump-starting your network’s