E-Sources, broadcast the second and fourth Friday of each month, provides timely information about issues affecting the accounting profession, educational opportunities, and special events.

In this Issue:
1. Income Tax Return Deadline Extended
2. Tax Info: IRS Offers Last-Minute Tips for Taxpayers; Trends Show Last-minute Tax Filers Using E-file More; U.S. Government Sues Jackson Hewitt Tax Preparation Franchises
3. Chaperones Needed for 2007 High School Residency Program
4. Nominations for the 2007 Leadership Academy Class Being Accepted
5. Join the new Young CPA Section
6. GASB Proposes Standards for Reporting Land and Other Real Estate Held as Investments
7. GSCPA Web Site Feature of the Week
8. CPE News

INCOME TAX RETURN DEADLINE EXTENDED: Georgia taxpayers have until April 17, 2007, to file their 2006 personal income tax return and pay any taxes due. Taxpayers have extra time so as to coincide with the federal filing deadline of April 17.

TAX INFO: IRS Offers Last-Minute Tips for Taxpayers - With the April 17 tax filing deadline close at hand, the IRS offers some tips for those still working on their paper tax forms. Included are: consider filing electronically instead of using paper tax forms; put all required Social Security numbers on the return; and double-check your figures.

Trends Show Last-minute Tax Filers Using E-file More - With electronic filing running at a record pace, new IRS data released today shows more and more taxpayers are using e-file in advance of the April 17 tax deadline than in years past.

U.S. Government Sues Jackson Hewitt Tax Preparation Franchises in Four States, Alleging Pervasive Fraud - The United States has filed civil injunction suits against five corporations that operate Jackson Hewitt tax preparation franchises, as well as 24 individuals who manage or work at the franchises. According to the four lawsuits, the corporations operate under franchise agreements with Jackson Hewitt Tax Services Inc. of Parsippany, N.J., the nation's second largest tax preparation firm.

CHAPERONES NEEDED FOR 2007 HIGH SCHOOL RESIDENCY PROGRAM: The Georgia Society of CPAs is looking for volunteers to chaperone students for the 2007 High School Residency Programs. The programs will be held June 10-13 at Georgia Southern University in Statesboro and July 8-11 at the University of Georgia in Athens. Interested members are asked to donate one day and/or one night to serve as a chaperone for these students. If you think you would be able to assist with any part of the program or have any questions please email Shelly Grunbaum at sgrunbaum@gscpa.org with the school you want to volunteer at and your availability.

THE GSCPA IS NOW ACCEPTING NOMINATIONS FOR THE 2007 LEADERSHIP ACADEMY: The Leadership Academy motivates employees to apply the leadership and development skills learned to their company, organization, and personal life. Following the four-session program, the graduating class will be empowered with skills to increase productivity, life morale, and improve quality. Dates, locations and nomination forms for the 2007 Leadership Academy Program are
available on our web site.

JOIN THE NEW YOUNG CPA SECTION: This Section is for members who are 35-years-old or younger or who are recently licensed CPAs. This Section serves as a resource for members who are interested in professional development, preserving a work/life balance and networking with peers. The group will officially become a section on June 1, 2007 and intends to offer numerous opportunities for networking, learning, and interaction, including the Business Breakfasts Series, quarterly networking events in conjunction with other young professionals groups, a summer softball league and other events held throughout the year. For more information contact Shannon Cannon at Shannon.cannon@gscpa.org or 404-504-2937.

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.

GSCPA WEB SITE FEATURE OF THE WEEK: Search any course or conference the GSCPA offers through our online CPE Catalog under the Continuing Education tab. Our advanced catalog allows you to search for courses by number, date, or instructor. You can also register for the course at that time. The 2007 Catalog is now available. Plan your educational sessions now for the 2007 reporting year. 

CPE NEWS

UPCOMING CPE COURSES:
Peachtree Software Training (Hands On); Course No. 05001
May 14-15; 16 hours A&A
Instructor: Mark Mosley
8:30 a.m. - 4 p.m.; GSCPA Training Center

Advanced Training Course For Reviewers**; Course No. 05002
May 14; 8 hours A&A
Instructor: Chris Rouse
8:30 a.m. - 4 p.m.; GSCPA Training Center

UPCOMING CONFERENCES:
Just What You Have Been Wishing For - The 2007 Spring Government Workshop; Topic: GASB Update by G. Robert Smith, Jr. of Middle Tennessee State University, Murfreesboro, Tenn; May 11 at the Macon Conference Center. Early registration deadline is April 20.

The Solution to Your Real Estate Needs - The 2007 Real Estate Conference; May 17 at the Cobb Galleria Centre. Topics and speakers include an Economic Update by Roger Tutterow and Demographic Influences on Development in Atlanta by Tom Bell. Early registration deadline is April 26.

Stay Connected at the Georgia Federal Tax Conference (GFTC); June 6-7, 2007 at Cobb Galleria Centre. Topics and speakers include The Tax Tail Wags the Dog - Whether and How to Even Out Marital Assets by Edward Manigault and Deferred and Equity Compensation for Executives and Whole Workforces: Section 409A and Its Consequences by Mary B.
Hevener. For complete speaker bios, please visit our speaker page.

Comments/suggestions? Please email jetzbach@gscpa.org.  

The next issue of E-Sources will be released Friday, April 27, 2007.