Economic Stimulus? Americans Divided On What To Do With Rebate

AICPA conducted a survey with regard to what Americans plan to do with their rebates. Here’s a summary of the responses:

28% plan to save it
27% plan to spend it
25% plan to pay down debt with it

Interestingly, the study showed those most likely to save their rebate were single, while retirees and married individuals are more likely to spend it. Those most likely to use the rebate to pay down debt are working mothers.

http://www.aicpa.org/download/news/2008/Americans_Divided_on_their_plans_for_economic_stimulus_tax_rebate,_according_to_aicpa_survey.pdf

Have you switched over to Vista yet?

Windows Vista is the first major upgrade of the Windows operating system in four years. Randy Johnston, a frequent CPE instructor for MSCPA, wrote an article about Vista and the benefits the new system has for CPAs.

Check it out!
http://www.mocpa.org/content/files/pdfs/vista.pdf

Have you ever listened to a podcast?

Now you have the chance to listen to special podcasts just for CPAs!

A January 2008 Arbitron-Edison Media Research study found that podcasting use is rising and now reaches 18 percent of the US population, up from 13 percent a year ago. An estimated 23 million, or 9 percent of Americans had listened to a podcast in the past month.

You don’t need an iPod to listen to a podcast. A podcast is nothing more than a digital audio file, just like any other song or MP3 file on your computer.

MSCPA will now post weekly podcasts on federal tax issues. This week, take a moment and listen to the podcast on “Tax Litigation: Learn From These Case Studies.” It’s only 20 minutes long…and you can work on other items while you listen.

http://www.mocpa.org/content/files/Podcasts/FTU_04-14-08.mp3

Keep checking back to MSCPA’s home page for each week’s new podcast!

TAX FILING DEADLINE EXTENDED FOR STORM VICTIMS!

It’s the talk of every CPA in Missouri. And it’s no rumor...it's true! The IRS and the Missouri DOR have extended the tax return filing deadline to May 19 for victims of the recent flooding.

MSCPA has only received the official notices below:

IRS: http://www.irs.gov/newsroom/article/0,,id=180958,00.html

DOR: http://dor.mo.gov/news/2008/EkpZyZZE.htm

Calls have been made to both our local IRS stakeholder liaison office and the Missouri Department of Revenue for further clarification. We will post information to this blog and to the MSCPA website at www.mocpa.org as soon as we get it!

IFRS: Coming to America!

Are you ready for it? It’s coming…

The AICPA’s Journal of Accountancy recently published an article detailing the new International Financial Reporting Standards (IFRS), which are expected to be adopted here in the United States in 2009.

Check it out!
http://www.aicpa.org/pubs/jofa/jun2007/gill.htm