Ernst & Young has been holding a conference in New York this week to attract ethnically diverse college students to the tax profession.

The Internal Revenue Service has established rules for substantiating lump-sum charitable contributions made through the Combined Federal Campaign or similar programs such as a United Way campaign.

The tax prep season is just upon us, and it has some very interesting wrinkles already. To begin with, Congress once again enacted legislation just before it left for the Holiday recess that directly impacted tax return preparation. Then there is the concern over severe implications of the tax preparer penalty changes.

KPMG plans to host a webcast on Section 904 regulations and their potential implications on the foreign tax credit positions of U.S. multinationals.

Tax practitioners who take the plunge into financial planning find that it's a natural step to go from preparing a tax return and answering a client's questions, to tax planning and full-scale financial services."Financial planning has been a nice blend of what I'm already doing for my clients," explained Matawan, N.J.-based CPA Salim Omar.

CCH INTROS TAX INCENTIVES FINDERCCH has debuted a Web-based tool designed to find local incentives that can reduce income, property, and sales and use taxes, as well as identify enterprise zones and non-tax financial incentives. The Business Incentives Navigator on the CCH Tax Research Network allows users to search for statewide and location-based incentives. Users select an industry, followed by an incentive category such as investment, job creation, or research and development. Then they can select one or more jurisdictions.

By now, the excitement of receiving college acceptance letters is likely to have been long ago replaced by the shock of the tuition bills that follow enrollment. Or the joy of a child's graduating from college - and no longer incurring tuition - is eclipsed by the obligation to repay student loans. As families scramble to get the largest grants and lowest interest rates available, they should not overlook the tax implications of the arrangements they make.The tax breaks fall into two categories: ones for paying the education costs themselves, and deductions for paying interest on loans used to pay the bills. Most of the tax provisions are restricted to those with incomes below specified amounts, and those amounts vary from one tax provision to another. This creates additional confusion for families attempting tax planning and increases their need for professional guidance.