The Latest

President Bush plans to nominate Douglas Shulman as Internal Revenue Service commissioner.

The Internal Revenue Service has issued a sample notice that 401(k) and 414(w) plan sponsors can use to tell plan participants about their rights and obligations under the Pension Protection Act’s eligible automatic contribution arrangements and qualified automatic contribution arrangements.

The Public Company Accounting Oversight Board has approved a budget for calendar year 2008 that predicts the board will outlay approximately $144.6 million, compared to $136.4 million in 2007.

Unfortunately, since December 31 coincides with the tax-reporting period for 99 percent of U.S. individual taxpayers, the average taxpayer will only begin thinking about their 2007 taxes during the first quarter of 2008. Unfortunately, this delay is generally very costly, since almost every individual taxpayer reports taxable income on a cash basis, as opposed to an accrual basis.

Accounting firms are starting to go virtual and setting up shop on Second Life.

The Securities and Exchange Commission has appointed two executives to prominent positions in its Division of Corporate Finance.

The Securities and Exchange Commission has weaknesses in its internal controls, according to a report by the Government Accountability Office.

The difference between a rhetorical question and a survey question is someone answers. Before we find out what type of question my title is, here’s why I posed it. Firms find about how other firms operate in a number of ways. It might be from contact with partners in other firms; via membership in groups, organizations, or societies; by hiring consultants; or possibly by reading about other firms in professional publications.

Concerned about recent regulation of firm networks, MSI Legal & Accounting Network Worldwide Ltd. has decided to become an association instead of a network.

Two CPA firms in Indiana are joining forces, with the Evansville office of Kemper CPA Group merging in Wright Consulting on Dec. 1.