AMERIPRISE TO ADD 900 BLOCKERS

Two recent reports suggest that the movement to register tax return preparers will continue.

Getting a handle on 2008 year-end tax planning is especially challenging this year because of several areas of uncertainty.

The Securities and Exchange Commission plans to hold the first of two roundtable discussions on mark-to-market accounting and current market conditions on Wed., Oct. 29, at 9 am ET.

“Every day, we receive phone calls or e-mails that begin, ‘I just inherited (or acquired) a coin collection. What do I do?’ Unfortunately, all of us in the rare coin business have heard horror stories over the years about widows who sold their late husband’s collections at a fraction of the true value because they didn't have enough information. We've set up this new service so heirs can quickly get accurate information and find reputable dealers,” says Ron Guth, President of Professional Coin Grading Service (PCGS), one of the world’s largest, third-party rare coin authentication companies.

The Internal Revenue Service announced cost-of-living adjustments on the dollar limitations for pension plans and other items in tax year 2009, even as Social Security benefits are expected to rise next year.

The Financial Accounting Standards Board is considering delaying implementation of its controversial standard on accounting for uncertainty in income taxes for private entitiies.

The International Accounting Standards Board and its U.S. counterpart, the Financial Accounting Standards Board, plan to create a global advisory group to review financial reporting issues related to the credit crisis.

The Center for Audit Quality, the CFA Institute, the Council of Institutional Investors and the Consumer Federation of America have written to the Securities and Exchange Commission opposing demands for the SEC to override the Financial Accounting Standards Board's rules on fair value accounting.

Former Securities and Exchange Commission Chairman Arthur Levitt blamed recent SEC actions for contributing to the credit crisis and urged legislators to expand fair value accounting.

The federal government plans to spend $250 billion to buy equity stakes in troubled banks to help them weather the credit crisis.

A New Jersey jury has awarded a company nearly $32 million after it sued KPMG for negligence; with interest, the verdict amounts to over $41 million.

Presidential candidate Sen. John McCain, R-Ariz., and his rival Sen. Barack Obama, D-Ill., have proposed differing tax and retirement plan measures to deal with the economic downturn.

As more clients are confronted with shrinking retirement portfolios, layoffs and hardship getting bank loans for their business and personal needs, accountants are being asked for advice on how to survive through lean times.

The American Bankers Association has written to the Securities and Exchange Commission demanding that it override the Financial Accounting Standards Board's guidance on fair value accounting.

The former CEO and CFO of drug store chain Duane Reade were indicted on fraud charges for allegedly inflating the company's income.

The Internal Revenue Service has recently added a page to its Web site for the self-employed. I sure could’ve used that when I was a freelance writer, even though there was no Internet then.

KPMG plans to contribute $1.5 million over the next five years to a village in Tanzania as part of a poverty relief project.

The Tax Court has amended its rules of rules of practice and procedure for whistleblower actions, making it easier for informants to keep their identities confidential.

The Securities and Exchange Commission named Dr. Amy Edwards to the post of Assistant Chief Economist for Markets and Intermediaries in the agency's Office of Economic Analysis.