The Latest

Moving into this year's year-end tax planning season, tax practitioners are faced with a considerable degree of uncertainty caused by congressional indecision. Not only does the uncertainty as this column goes to press surround whether a long list of extenders and small-business tax breaks will in fact apply retroactively to Jan. 1, 2010; it equally involves whether the massive EGTRRA '01 tax cuts, due to expire at the end of 2010, will be extended into 2011. Strategies to prepare for a probable change in the 2010 tax rate structure for 2011 are the focus of this present column, in part because the outcome is somewhat more predictable than the fate of the extenders and small-business relief, and in part because it may take more preparation for clients to make plans to meet the challenges of changed tax rates.

Roger Russell has accurately reported the IRS issues of the 1099 reporting rules ("1099 rules seen as a major burden," Aug. 16-Sept. 12, page 10). What Mr. Russell appears to have omitted is the consequences of these rules on the recipient firms of the 1099s.

ATLANTA

In mid-August 2010, the American Institute of CPAs released a video interview with Sir David Tweedie, chair of the International Accounting Standards Board (available on the Journal of Accountancy Web Site, www.journalofaccountancy.com). The content of the interview was also summarized by the British Web site AccountancyAge (www.accountancyage.com).

Bribe American

New Practice Aids

Cloud-based software developer NetSuite Inc. has created an accountants network program with the goal of educating the CPA community about the financial and ERP vendor's products and enlisting them as recommenders.

All clients are looking for lower fees and cost-cutting measures from their CPAs. That's a no-brainer. But do nonprofit organizations have higher expectations around what support and resources they receive from their most trusted advisors?

It's all but expected in Boston (and maybe anywhere other than New York) that baseball fans hate the Yankees.

AUTOMATIC IRA BILL ON HILL