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> Register today for the MSCPA Legislative Visit—May 2! Join your
fellow CPAs for the next CPA Legislative Visit on Wednesday, May 2 in http://www.mocpa.org/Content/22366.aspx > Announcing the 2007 LEAP Ambassador Training Sessions! Are you
thinking about becoming a high school LEAP Ambassador and want to know what
it entails? Are you already a LEAP Ambassador and want to sharpen up
your presentations? Then the LEAP Ambassador Training Sessions are
perfect for you! Come network
with fellow ambassadors and enjoy a full day of refreshing ambassador
presentation information, ways to integrate financial literacy, as well as a
high school teachers’ panel session. COMPLIMENTARY! LUNCH PROVIDED! http://www.mocpa.org/Content/22190.aspx > Congratulations To The 2007 LEAP Scholarship Winners Thanks to
your contributions, more than 55 students will receive financial assistance
as they pursue their dreams of becoming CPAs. Review the list of winners! www.mocpa.org/leap/cgscholarships.html
> CORRECTION! Update To Effective
August 28, 2006, MO$T requires that a contribution
be held in the account for 12 months before withdrawal to pay college
costs—otherwise Missouri tax penalties apply. http://www.mocpa.org/content/files/pdfs/mo$t.pdf > Auditor Wanted New
Franklin R-I > Merger/Acquisition Established
sole practitioner located in > AICPA Calls For Repeal of AMT Last
week, the AICPA called on Congress to repeal the
individual alternative minimum tax (AMT). The AICPA
further offered 13 recommendations to reduce AMT burden if repeal is not
possible. http://www.aicpa.org/download/news/2007/AICPA_Calls_for_AMT_Repeal_3-22-07.pdf > Many Cell Phone Customers May Be Overlooking Telephone Tax Refund;
Before You File, See if You Qualify, IRS Advises According
to the IRS, most cell-phone users qualify for the federal telephone excise
tax refund. In most cases, the refund is also available to land-line, fax and
Internet phone customers as well. The method of phone signal transmission
does not affect the refund. The telephone-tax refund can add $30 to $60
— or even more — onto a taxpayer’s refund. http://www.irs.gov/newsroom/article/0,,id=169091,00.html > IRS Issues Regulations on Transactions Designed to Artificially
Generate Foreign Tax Credits The IRS
and Treasury Department announced last week the release of proposed
regulations that would disallow foreign tax credits for foreign taxes
purportedly paid in connection with certain artificially engineered, highly
structured transactions. http://www.irs.gov/newsroom/article/0,,id=169165,00.html > Missouri
Revenue Department Continues Record-Breaking Tax Season Pace After sending out its one-millionth refund on March 14
and issuing a record $218 million in February refunds, the Missouri
Department of Revenue is still processing and issuing refunds just as fast as
last year. http://www.dor.mo.gov/news/2007/EEZuAuFy.htm > GASB Proposes Standards
for Reporting Land and Other Real Estate Held as Investments GASB issued a proposal related to the reporting of land and
other real estate investments by endowments. Current accounting standards require
endowments to report those investments at historical cost, although other
entities that exist for the purpose of generating income—such as
pension plans—report them at their fair value. http://www.gasb.org/news/nr032307.html > Financial Planner
Earnings, Satisfaction Measured in Survey http://accounting.smartpros.com/x56981.xml
This
Week's Headlines |
For CPAs in Public Practice All courses are 8 CPE hours unless
otherwise noted. Seminars: Finding the Sweet Spot Excel for CPAs 2007—Tips, Tricks, and Vital
Features Financial Statement Modeling for
Accounting & Finance Professionals Best Practices in Quantitative
Financial Analysis Excel for Advanced
Users—Data Analysis and Advanced Capabilities Conferences: Governmental Accounting Conference May 1-2,
2007— 13 CPE Credit Hours School Audit Conference May 14,
2007— __________________________________ Technology Tip of the Week Provided
by the MSCPA Information Technology Committee In
Excel, Shrinking Cell Contents Excel includes a feature that allows you to shrink the contents
of a cell so that everything fits on a single line. This feature can have
bizarre results if the cell contains quite a bit of text, or if the column
width is relatively narrow. To view recently archived issues of
"Technology Tip of the Week," go to: http://www.mocpa.org/Content/22269.aspx
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