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January 21, 2010    
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Publisher's Note
Rob Nance, Publisher Public accounting firms, sole practitioners and anyone who prepares taxes during the first three and a half months of the year certainly have varied timetables on when they mail tax organizer packets to their clients. This week I asked a CPA at a small firm in Arizona when they send theirs; she replied, “The Monday after Thanksgiving break.” A sole practitioner in Minnesota told me, “I sent all of mine on January 5 this year, which is typical for me.” When do you (or your firm) send yours? Here’s a snappy little poll where you can tell the AccountingWEB audience (anonymously). There are a few other quick, fun and easy polls on this page, too.

Rob Nance
Publisher
publisher@accountingweb.com
Top News
Accountants and accounting firms helping Haiti disaster victims
Haiti Relief Across the U.S., firms and individuals in the accounting profession are answering the urgent need for help for victims of the 7.0 magnitude earthquake disaster in the island republic of Haiti on January 12. The vast extent of the devastation in Port au Prince Haiti is becoming clearer with each day.
House unanimously passes bill to expedite tax deductions for Haiti contributions
The U.S. House of Representatives voted unanimously to approve legislation that would allow taxpayers to take a deduction on their 2009 tax return for 2010 contributions to relief efforts for Haiti earthquake victims.
Consolidating variable interest entities – Overview of FAS 167
FAS 167 replaces the quantitative risks and rewards approach of FIN 46(R) with a qualitative approach that will identify which enterprise has a controlling financial interest in a variable interest entity and has the power to direct the activities of that entity. .
Learn Your Way from the Leaders in Tax and Accounting CPE!
Thomson ReutersThe Tax & Accounting business of Thomson Reuters offers practical and hands-on training in the affordable, convenient format of your choice, including online and downloadable self-study! Our authors are experienced practitioners—you’ll meet CPE requirements while gaining practical knowledge to help you through tax season.
     Need ETHICS training? See over 40 online ethics courses that meet your state’s requirements from PASS Online!
     Visit trainingcpe.thomson.com or call 800.231.1860.
Featured Articles
Does your 2009 P&L statement contain a hidden tax deduction?
BuildersWhat if there was one line on your P&L statement – a line that has a "hidden" deduction possibility - that could actually generate a significant tax advantage and put cash back into your pocket?
Launch of upgraded Microsoft Windows mobile version imminent?
A number of sources are speculating that Microsoft will launch an interim update to its Windows Mobile, version 6.5, software at the Mobile World Congress (MWC) in Barcelona, Spain in February – possibly to be designated as Windows Mobil 6.6.
Brooke Shields, Nicolas Cage, Diego Armando Maradona, back in the news with tax problems
Some celebrities end up in the news whenever they make a new movie or sign a great deal. Others would probably prefer to stay out of the news as their personal lives are strewn across the headlines.
Get Ready for the 2010 Tax Season DirectoryListing | CyberCabinet
There are two important things you can do to make your 2010 tax season more successful.
     1. Get new clients
     2. Reduce your overheads, and stop wasting unnecessary time.
AccountantsWorld’s solutions let you do both. Click here to learn more.
Firm/State/People News
New Jersey accountants teach financial independence to young people
Business suit bowlingAccording to Dawn Schwartz, vice president of development for Junior Achievement of New Jersey, who better to teach financial literacy education and bring financial programs to kids than accountants?
A life sentence for tax evasion: Elevating tax cheating to a "sacred cause"
It's one thing to hate income tax. It's another thing to express yourself with a cache of homemade bombs, assault rifles, and deadly booby-traps.
Rick Anderson named to head “Blue-Ribbon Panel" on accounting standards for private companies
Rick Anderson, chairman and CEO of Moss Adams LLP, has been named chairman of a “blue-ribbon panel” established to analyze U.S. accounting standards and how they can best meet the needs of users of private company financial statements.
Win Some Lizard Lips! Lizard Lips
Entry is easy - post a question or a response in AccountingWEB's Q&A and you can possibly become one of 100 random winners of Lizard Lips. Winners will be contacted by e-mail and the names of winners will be posted on AccountingWEB in February. Share your curiosity, share your knowledge.

Lizard Lips protects against sun, wind, cold and coffee-stained tax deduction receipts.
Blogs!
What do you have to say today?
Is it time to give your CPA the boot?
It’s that time of year again to assemble all of your financial information and bring it to your Certified Public Accountant. However, some of you may be dissatisfied with your current Certified Public Accountant and are contemplating a change....
Is Little GAAP Dead? Maybe Not!
In the mid-1980s, CPAs in private industry, government and non-profit organizations, and in public practice were served a huge plate full of professional standards. The term "standards overload" was coined to describe this phenomenon....
Why CFOs and CEOs Are So Afraid of GAAP?
It has always been one of my greatest pet peeves to hear highly intelligent CEOs and CFOs proclaim "We don't do accrual basis except for the audit, we're a cash basis company" or any other ridiculous statement to the same effect....
Pennsylvania: Tax Amnesty Program Set for 2010!
Pennsylvania authorized (under Act 48, signed into law on Oct. 9, 2009) a tax amnesty period from April 26 to June 18, 2010....
Q&A
Form 990 Education
Where is the best place to turn for education on Form 990?
Add your input!
Do you have any independent contractors working for you?
The IRS is increasing its focus on worker classification. The consequences of misclassifying workers are significant to the worker, the employer, and governmental agencies. Please share your experiences about difficulties in classifying workers as employees vs. independent contractors.
Share your suggestions!
Kaplan Weekly Quiz
Kaplan Are you prepared for the CPA exam? Test your knowledge and keep your skills sharp by taking the weekly CPA Exam Quiz, brought to you by Kaplan Schweser CPA Review and AccountingWEB Education & Careers Zone. New questions will be posted for each section weekly. Take this week's quiz.
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