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  • Fraudulent Phishing Scam Email

    February 17, 2012
    On Thursday, February 16, the AICPA became aware of a fraudulent email using an AICPA banner and referencing the recipient’s possible involvement in an unlawful income tax refund activity that was sent to numerous individuals, CPAs, non-CPAs and members of the general public.

  • FASB, IASB to Host Outreach Meetings on Revised Revenue Recognition Proposals

    February 17, 2012
    The Financial Accounting Standards Board and the International Accounting Standards Board will host a series of outreach meetings in March, April and May 2012 on their revised joint proposals for the recognition of revenue that were published in November 2011.

  • IRS Extends Deadline for Estates to Make Portability Election Benefiting Surviving Spouses

    February 17, 2012
    The Internal Revenue Service has issued guidance that allows certain estates of married individuals who died during the first six months of 2011 an extension of the deadline to make the portability election.

  • N.J. Supreme Court Upholds Accountants Privity Law

    February 17, 2012
    On Thursday, February 16, the New Jersey Supreme Court threw out a case that accused KPMG LLP of negligence for failing to uncover accounting fraud by a Monroe Township company purchased by the owners of a former giftware and collectibles manufacturer in 2000.

  • IRS Releases the Dirty Dozen Tax Scams for 2012

    February 16, 2012
    The Internal Revenue Service (IRS) has issued its annual “Dirty Dozen” ranking of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud.

  • GASB Issues Newly Expanded, Revised User Guide on Local Government Finances

    February 15, 2012
    What You Should Know about Your Local Government’s Finances: A Guide to Financial Statements, 2nd edition, is a comprehensive primer on local government annual reports for taxpayers, elected representatives, and other people who need information about cities, counties, towns and villages.

  • Updated Rules Issued for IRS Communications with Appeals Office

    February 15, 2012
    The Internal Revenue Service has updated existing rules on permissible communications between the Office of Appeals and other parts of the IRS.

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