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. Telework Tax Credit Available to Businesses
2. Tax Info
3. COSO Seeks Comments on Guidance on Monitoring Internal Control Systems
4. Upcoming Section Events
5. Accounting Firms Among Best Places to Launch a Career
6. Register for the Distinguished Speakers Dinner
7. CPE News

TELEWORK TAX CREDIT AVAILABLE TO BUSINESSES: Teleworking has been shown to increase productivity, reduce absenteeism and boost your bottom line, but did you know that a telework program may also help you during tax season? Georgia is the first state in the nation to issue a telework tax credit. Employers are eligible for a one-time tax credit of up to $20,000, plus annual credits of up to $1,200 per new teleworker. All Georgia businesses that start or expand telework programs are eligible, but you’ve got to act fast. Employers must submit a simple three-page application to the State Revenue Commission by October 31, 2007. 

TAX INFO:
Special Web Section Unveiled for Homeowners Who Lose Homes; Foreclosure Tax Relief Available to Many - The IRS unveiled a special new section today on IRS.gov for people who have lost their homes due to foreclosure. The IRS also reassured homeowners that, although mortgage workouts and foreclosures can have tax consequences, special relief provisions can often reduce or eliminate the tax bite for financially strapped borrowers who lose their homes.

Charities, Churches and Politics - The ban on political campaign activity by charities and churches was created by Congress more than a half century ago. The IRS administers the tax laws written by Congress and has enforcement authority over tax-exempt organizations. Here is some background information on the political campaign activity ban and the latest IRS enforcement statistics regarding its adminstration of this congressional ban.  

COSO SEEKS COMMENTS ON GUIDANCE ON MONITORING INTERNAL CONTROL SYSTEMS: The Committee of Sponsoring Organizations of the Treadway Commission (COSO) is seeking comments until October 31, 2007 on its discussion document Guidance on Monitoring Internal Control Systems.  Comments can be submitted through a Web-based feedback portal or by using a Word-based response form. The comments will be used in developing an exposure draft, expected to be released later this year, and will include tools, case studies and implementation guidance. Final guidance is expected to be issued early in 2008. For more information and the feedback forms, please visit the link below.

UPCOMING SECTION EVENTS:
YCPA Business Breakfast - Individual Learning Plans: Be In Charge of Your Career Development
Course No. (10704)
Date: Thursday, October 4, 2007
Time: 7:30 - 8:30 a.m. (Registration at 7 a.m.)
Facility: GSCPA Training Center, Atlanta
Fees: Complimentary
Instructor: Jo Ann Cory, CPA, Ed.D, CPA

Valuation & Litigation Services Roundtable "Stock Options 409A/123R"
Course No. (10711)
Date: Thursday, October 11, 2007
Time: 12 - 1:40 p.m. (Registration at 11:30 a.m.)
Facility: GSCPA Training Center, Atlanta
CPE Credit: 2.0 General
Fees: $50 GSCPA Members, $50 Non-Members

ACCOUNTING FIRMS AMONG BEST PLACES TO LAUNCH A CAREER: Accounting firms dominate BusinessWeek's second annual ranking of the "Best Places to Launch a Career."

REGISTER NOW FOR THE DISTINGUISHED SPEAKERS DINNER: The GSCPA is pleased to present Barry Asmus, PhD for the 2007 Distinguished Speakers Dinner, Thursday, November 15 at the Westin Buckhead. Seating is limited, so register early. Firms and companies can reserve tables. To download the table reservation form, please click here. 

CPE NEWS

UPCOMING COURSES:
Advanced Management Accounting - True Costs for Real Products (NEW)
October 08, 2007
8 hours A&A; Course No. 10014
Instructor: John Daly
GSCPA Training Center
Fees: $249 GSCPA Members, $299 Non-Members 

Pricing for Profitability - Strategies that Create a Competitive Advantage (NEW)
October 09, 2007
8 hours A&A; Course No. 10019
Instructor: John Daly
GSCPA Training Center
Fees: $249 GSCPA Members, $299 Non-Members

The Best Estate and Financial Planning Topics of 2007 (NEW) 
October 09, 2007
8 hours CPE; Course No. 10020
Instructor: Anthony J. Rocca
GSCPA Training Center
Fees: $249 GSCPA Members, $299 Non-Members

Estate Document Workshop (NEW)
October 10, 2007
8 hours CPE; Course No. 10024
Instructor: Anthony J. Rocca
GSCPA Training Center
Fees: $249 GSCPA Members, $299 Non-Members

UPCOMING CONFERENCES
2007 Fall Decision Makers Conference –It All Starts With You. October 18, 2007; 8 hours CPE; Cobb Galleria Centre, Atlanta; NEW for 2007 – Nonprofit Track. For the complete program schedule and registration information, visit the web site.

2007 Atlanta Tax Forum –Preseason Tune-Up for CPAs
November 1-2, 2007; 18 hours CPE (possible 5.5 hours A&A); Cobb Galleria Centre, Atlanta; For the complete program schedule and registration information, visit the web site.

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

The next issue of E-Sources will be released Friday, October 12, 2007.