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IRS Announces Proposed PTIN Requirements

July 28, 2010

As part of its plan to regulate all paid tax preparers by next filing season, the Internal Revenue Service (IRS) has proposed charging $50 annually to issue and renew a required preparer tax identification number (PTIN). The IRS also announced that PTIN applications and renewals would be handled by a third-party vendor, who could also charge a "reasonable fee" on top of the IRS fee.

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Exposure Draft Released Resulting From Clarity Project

July 28, 2010

The Auditing Standards Board has issued Proposed Statement on Auditing Standards (SAS), Letters for Underwriters and Certain Other Requesting Parties (Redrafted), resulting from its Clarity Project (Supersedes AU Section 634, Letters for Underwriters and Certain Other Requesting Parties) in AICPA Professional Standards.

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Financial Regulatory Reform Act Signed Into Law

July 28, 2010

President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law on July 21. The CPA profession successfully advocated for CPAs on a number of issues, including protections to maintain the Financial Accounting Standard Board's independence and a provision to ensure permanent funding for the Governmental Accounting Standards Board, and resisted duplicative and unnecessary regulation by the new Consumer Financial Protection Bureau for CPAs' usual and customary activities.

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Upcoming CPE Courses

Long Term Care Planning for Accountants and Their Clients - PORTLAND

August 10, 2010
This is a 1-day seminar led by Marilee Driscoll, CLU, CSA, and author. Twenty-three percent of LTC is...
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Private Company Financial Reporting Update PORTLAND

August 11, 2010
Is now the time for a separate set of financial reporting standards for private companies? This session will...
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Forensic Accounting, Finding and Preventing Fraud - PORTLAND

August 12, 2010
Forensic Accounting is one seminar you cannot afford to miss. Fraud will touch you in some manner. ...
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