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SmartPros Accounting News & Insights May 23, 2013   Home | Member Services | News | Resource Library | Career Center | Professional Education | Marketplace | Investor Relations

IN THIS ISSUE   Newsline: IRS Chief Says Targeting Was Foolish but Not Political Editorial: IRS Went After Small Fry, but Let the Big Ones Get Away CPE: Surviving Filing Season Chaos: From WOTC to Identity Theft Book Pick: Technology Tools for Today's High-Margin Practice: How Client-Centered Financial Advisors Can Cut Paperwork, Overhead, and Wasted Hours Web version | Archive & subscriptions | Email us  NEWSLINE IRS Chief Says Targeting Was Foolish but Not Political The departing chief of the U.S. Internal Revenue Service says he takes the blame for planting a question about the targeting of conservative political groups. Also in the News: IRS Official to Take the 5th at House Hearing More Obama Aides Knew of IRS Audit; Obama Not Told GOP Leaders Say Impeachment Talk Premature 2013 U.S. GAAP Financial Reporting Taxonomy Adopted and Supported by SEC Los Angeles Jeweler Pleads Guilty in KPMG case Ex-Saab Executives Arrested on Accounting Charges U.S. House Passes Partisan SEC Act   EDITORIAL: IRS Went After Small Fry, but Let the Big Ones Get Away By Carl Hiaasen The gimmick of choice is Section 501(c)(4) of the revenue code. Groups receiving that golden designation are allowed to collect unlimited contributions without paying taxes. They're not banned from political involvement, but by law they're supposed to be "primarily engaged" in activities promoting "social welfare" and "the common good" - not partisan politics. It's a total farce.    ONLINE CPE NEW ONLINE CPE FROM CPAR ONLINE: Surviving Filing Season Chaos: From WOTC to Identity Theft The long-delayed enactment of the American Taxpayer Relief Act provided a number of challenges to the timely preparation and processing of 2012 tax returns. Expert commentators Barry Weisman and Barbara Weltman examine the IRS' response to a number of challenges that plague practitioners, from retroactively claiming the Work Opportunity Tax Credit to effectively combating identity theft.  BOOK PICK Technology Tools for Today's High-Margin Practice: How Client-Centered Financial Advisors Can Cut Paperwork, Overhead, and Wasted Hours Tired of spending more time with filing cabinets than with clients? Is overhead eating up your margins? In a new revised edition of the "bible" of practice management and technology for financial professionals, two leading financial planners, with some help from their friends*, deliver the knowledge advisors have been begging for. This book serves up a nontechnical trove of technology, clever workarounds, and procedural efficiencies tailored to help financial advisors in private practice move toward today's virtual office. The authors show you how to drastically reduce the paperwork in your office, slash overhead, and find anything you need in seconds using the latest software. Buy this book

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