AT Think

The IRS released the final regulations for Phase III of cost basis reporting of debt instruments, options and single stock futures on April 18, and the tax profession is sorting out what the new rules mean and how they will affect firms and their clients.

The Houston CPA Society honored Lupe Garcia, assurance and advisory services manager in the Houston office of Texas accounting and consulting firm Whitley Penn, with its Young CPA of the Year Award.

It isn’t clear whether the House will follow the lead of the Senate and pass the Marketplace Fairness Act, the legislation requiring online vendors to collect sales taxes from their customers, but it’s still a good idea for clients who are e-commerce merchants to prepare themselves for changes in the tax laws.

Few new partners in today’s environment are handed the keys to the partnership, a book of business, with the simple expectation of “just don’t lose it.”

Another reprise of a classic column

The United Nations has issued a report from a high-level panel tasked with developing a post-2015 development agenda in which it calls for all companies to produce corporate sustainability reports.

Wisconsin CPA and business advisory firm Kolb+Co. is hosting its fourth annual Action Day May 31, mobilizing employees to collectively donate 300 hours to the Urban Ecology Center in Milwaukee’s Washington Park.

The Public Company Accounting Oversight Board’s long-awaited agreement with Chinese authorities doesn’t really give the PCAOB everything it has been seeking, such as the ability to inspect auditing firms in China, but it does take the PCAOB closer to its eventual goal.

Growing your business is the name of the game, but getting the word out about your accounting practice is always a struggle. One strategy is to proactively seek recognition for your expertise within your own circle, using social networking.

Robert Aceituno, CPA and tax manager at Bethesda, Maryland-based firm Councilor, Buchanan & Mitchell, recently rode off with a “Bicycle Commuter Spirit Award” for his healthy route into the office.