09May14 (09may14)

09May14
Volume 4, Number 9May 14 , 2004www.gscpa.org
 
in this issue:
 

CPE News
Tax Info - IRS Continues Launch of Online Business Tools; Charities May Not Engage in Political Campaign Activities; Identity Theft Scheme Involves Bogus Email
Dues Statements are in the Mail
MAP Webcasts
Technology Update
Hackers Exploiting Recent Microsoft Flaw
Items to Note: Nominations Sought for GSCPA Leadership Academy; Are You Running For Political Office?

 
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www.gscpa.org
E-Sources, a resource for GSCPA members, provides timely information about issues affecting the accounting profession, educational opportunities, and special events. E-Sources is sent on the second and fourth Friday of each month.

To view the online version of this newsletter, please click here.

This issue of E-Sources is sponsored by:
   
Pritchard & Jerden is one of Georgia's
largest independent insurance brokers. For
more information on services, please visit
their web site.

CPE News:

Greg Clark presents, Deceptive Accounting Techniques - Recognizing the Warning Signs (course no. 06019), June 3 at the GSCPA Training Center; 8 hours A&A. This course is designed for practitioners in public practice and in industry. Learn to identify creative accounting practices used to deceive financial statement users, identify those risk characteristics normally associated with fraudulent financial reporting, and apply accounting rules the right way.

Charitable giving in financial and estate planning can be complex in nature. For those with an understanding and familiarity of basic charitable giving concepts, Advanced Financial and Estate Planning Techniques of Charitable Giving, presented by Anthony Rocca, provides a look at a number of advanced planning strategies. The course is in Rome on June 3 (course no. 06018) and Atlanta on June 4 (course no. 06020); 8 hours CPE.

Colin Blalock presents Nonprofit Organizations: A Guide to Advanced Tax Planning (course no. 06075), June 7 at the GSCPA Training Center; 8 hours CPE. This course provides specific, practical coverage of the issues bedeviling CPAs who work for or advise nonprofits. You'll get the latest on avoiding unrelated business income (UBIT), excess benefit rules, use of for-profit subsidiaries, compliance and lobbying - along with savvy solutions to the problems "taxing" today's NPO.

For details or to register for any of the above events, go to the CPE Catalog and enter the course number.

The Georgia Federal Tax Conference, June 9 and 10 at Cobb Galleria, offers high caliber, outstanding speakers who will bring you up-to-date on changes in the tax law, and the latest from Washington, DC in anticipation of future developments. Earn 18 hours of CPE for the price of 16 hours. Early Registration Deadline is May 19.

The Real Estate Conference, scheduled for June 18 is packed with informative sessions and is the one program that allows CPAs who also hold a real estate license to double-dip for education credits. If you arrive on time and stay for the entire program, you will earn 6 hours of real estate credit as well as 8 hours of CPE. The program includes a possible 2 hours of A&A. Sign up by May 28 to qualify for the early registration discount.


Tax Info :

IRS Continues Launch of Online Business Tools - With record numbers of Americans e-filing their tax returns and recently announced e-filing options for corporations and tax exempt organizations, the IRS has launched a new online form that gives tax professionals a faster, easier method of applying to become an authorized e-filer. Tax professionals now have an online application form that cuts processing time and reduces errors associated with using the paper Form 8633, Application to Participate in IRS e-file. Once the application is approved by the IRS, tax professionals can e-file returns for their clients.

Charities May Not Engage in Political Campaign Activities - Charities should be careful that their efforts to educate voters comply with the Internal Revenue Code requirements concerning political campaign activities, the tax agency said today in a presidential election-year advisory. Organizations described in section 501(c)(3) of the Code that are exempt from federal income tax are prohibited from participating or intervening in any political campaign on behalf of, or in opposition to, any candidate for public office. Charities, educational institutions and religious organizations, including churches, are among those that are tax-exempt under this code section.

Identity Theft Scheme Involves Bogus Email - The U.S. Department of the Treasury and the IRS warned taxpayers of an email-based scheme that attempts to trick taxpayers into revealing personal information such as social security numbers, driver's license information, and bank and credit card numbers. In this ploy, unsuspecting consumers receive an email, claiming they are under investigation for tax fraud and are subject to prosecution.

Keep current on tax issues by joining the GSCPA Taxation Section.


Dues Statements Are In The Mail :

The dues statements for 2004-05 have been mailed. Please respond quickly so we can continue to provide outstanding services to all of our members. Your membership provides you with outstanding CPE, new affinity programs, insurance options, networking opportunities, and legislative representation. Click here to renew online.

 
MAP Webcasts :

The GSCPA's MAP Section presents the MAP Innovative Solutions Series - educational programming designed to assist firm managers with some of the issues facing accounting firms in today's business world. Each program provides timely information, analysis, and best practices from leading experts in the profession.

May 27 - The Tech-Savvy CPA Firms, J. Carlton Collins, CPA
June 10 - Accountant's Professional Liability: The Past, The Present & The Future
Ric Rosario, CPA, CFE
July 1 - Succession Planning, Marc Rosenberg, CPA

Each two-hour program will be presented online via a webcast. Participants will be able to submit questions to the speakers by telephone, fax, and email.

 

Technology Update:

"Selecting Software: Keep It Simple"
Connecticut Post (04/26/04); Wayne Bragg - Companies of all sizes are tempted to purchase new software by promises of significant returns or productivity gains, but experts recommend upgrades only if problems exist with the current application or the new application will help them achieve their business goals. Before rushing into a software purchase, a team of selected employees should identify the problem, take note of productivity losses or other indicators of poor performance, and detail the ways in which the new software will help. This update is sponsored by Information, Inc.

Keep current on IT issues and developments by joining the GSCPA Information Technology Section.

 
Hackers Exploiting Recent Microsoft Flaw:

In mid-April, Microsoft issued a warning about a flaw in the Windows system that could make it easy for hackers to gain access to sensitive systems. Now hackers are using the very vulnerability identified by the company to wreck havoc. Click here for the entire story.

 


Nominations are being accepted for the 2004-05 class of the GSCPA Leadership Academy. This highly successful program, modeled after "Leadership Georgia", teaches participants leadership skills and expertise that they will use in their firms and communities. Skills taught are unique to the leadership training program. Your future partners should have these skills. You can nominate one or more people.

Are you a CPA and running for political office? The GSCPA will list, in the September/October issue of Current Accounts, all CPA members who will be on the ticket in November. This list is not an endorsement by the GSCPA. Please send your information to Betty Breen.


Georgia Society of CPAs Atlanta Financial CenterNorth Tower, Suite 400 3353 Peachtree Road NE Atlanta, GA 30326

 


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