Missouri Severe Storms and Flooding Victims May Qualify for IRS Disaster Relief

Victims of recent severe storms, tornadoes, and flooding in Missouri may qualify for tax relief from the Internal Revenue Service.

Following severe storms, tornadoes, and flooding on May 8, 2009, the President declared Adair, Barry, Barton, Bollinger, Cape Girardeau, Christian, Dade, Dallas, Dent, Douglas, Greene, Howell, Iron, Jasper, Jefferson, Laclede, Lawrence, Madison, Newton, Ozark, Polk, Reynolds, Ripley, St. Francois, Shannon, Texas, Washington and Webster counties a federal disaster area qualifying for individual assistance.

As a result, the IRS is postponing until July 7, 2009, certain deadlines for taxpayers who reside or have a business in the disaster area. The postponement applies to return filing, tax payment and certain other time-sensitive acts otherwise due between May 8, 2009, and July 7, 2009.

http://www.irs.gov/newsroom/article/0,,id=210060,00.html

Tons of Time Spent On Social Networking Sites

The St. Louis Post Dispatch reports that the most recent numbers from Nielson show that we are spending more time social networking than ever. As of May, Facebook was still number one. And Twitter continues to grow - though it is showing some signs of slowing down.

• Facebook had 144.3 million unique visitors in May, making it the world’s top social network for the seventh month in a row.
• Former top site Myspace.com was the top social network when ranked by total video streams, with 116.1 million.
• Upstart Twitter was the fastest growing site in May, increasing a mind-boggling 1,448 percent year-over-year.

http://www.stltoday.com/blogzone/life-tech/social-networking/2009/06/were-still-spending-tons-of-time-on-social-network-sites/

ATTENTION: Missouri CPA Firms and Employers

Now that the economy is slowly recovering, remember that as your firm/company has CPA positions that become available, post them on the MSCPA Career Center!

Here are just a couple of reasons why it’s more cost effective and targeted to post your jobs on Missouri’s own accounting-specific job board:

· Almost 400 professional CPAs who want to work in Missouri are registered on our site
· 84 percent of registered job seekers hold Missouri CPA licenses
· 170 is the average number of page views a job posted on our site receives

In addition, the MSCPA Career Center offers exclusive employer access to more than 230 active resumes that have been posted to the career center.

Nearly 200 Missouri employers have posted at least one job on the career center over the past year and report excellent success in reaching qualified candidates!

Check it out at: http://www.mocpa.org/Content/22595.aspx

IRS Launches Tax Return Preparer Review

The IRS announced that by the end of 2009, he will propose a comprehensive set of recommendations to help the Internal Revenue Service better leverage the tax return preparer community with the twin goals of increasing taxpayer compliance and ensuring uniform and high ethical standards of conduct for tax preparers.

Some of the potential recommendations could focus on a new model for the regulation of tax return preparers; service and outreach for return preparers; education and training of return preparers; and enforcement related to return preparer misconduct.

http://www.irs.gov/newsroom/article/0,,id=209375,00.html

Accountants Rank Soft Skills As More Important Than Technical Skills

Accountants have strong opinions about what constitutes leadership in this economy, according to a new survey by Ajilon Finance.

The survey, which polled over 700 accountants, found that leadership priorities change depending on whether the economy is good or bad but that certain workforce activities and initiatives remain non-discretionary investments at companies, such as training and development and workforce flexibility.

What do you think?

AICPA Reports On IFRS Preparedness

An AICPA survey indicated that CPAs possess basic knowledge about IFRS, but need much more education in the years to come.

http://www.aicpa.org/download/news/2009/IFRS_Poll_Results.pdf

Unemployment Rate in Missouri Finally Goes Down!

The state of Missouri’s unemployment rate receded in April, following nine consecutive months of increases, but the state’s nonfarm payrolls continued to lose jobs, according to data released today by the Missouri Department of Economic Development (DED).

The state’s seasonally-adjusted unemployment rate fell by six-tenths of a point from 8.7 in March to 8.1 percent, which was the same rate during the month of January. Approximately 242,900 Missourians were estimated to have been jobless during the month of April.

Does this mean economic recovery is on its way?

http://www.ded.mo.gov/cgi-bin/dispress.pl?txtpressid=80