The New York State Society of CPAs will host the 28th Annual New York CPA Business & Technology Show & Conference on May 16 and 17 at the Hilton New York Hotel.

Lacerte users want respect from their tax software vendor. And if they don’t get it soon, they’re going to look at alternatives.

The Treasury Inspector General for Tax Administration has released preliminary data for the tax-filing season on returns received and processed as of March 10.

A federal jury has found a Florida tax preparer guilty on 50 charges of preparing fraudulent individual and trust income tax returns, impeding the enforcement of tax laws, and criminal contempt.Louis Wayne Ratfield, of Lake Worth, Fla., was originally indicted on 56 counts for a tax fraud scheme that prosecutors said involved hidding income and assets in bogus trusts. According to the indictment, Ratfield’s scheme caused a tax loss to the federal government of more than $6.4 million.

The Virginia Society of CPAs has named Stephanie R. Peters as its new president and chief executive.

The Internal Revenue Service has issued for public comment draft versions of revised Form 1120-F, U.S. Income Tax Return of a Foreign Corporation, and related schedules, including Schedule M-3, new for 2007.Taxpayers with $10 million or more in total reportable assts filing Form 1120-F for tax years ending on or after Dec. 31, 2007, will be required to file Schedule M-3. Three other new schedules for Form 1120-F include: · Schedule H, Deductions Allocated to Effectively Connected Income Under Regulations Section 1.861-8; · Schedule I, Interest Expense Allocated Under Regulations Section 1.882-5; and, · Schedule P, List of Foreign Partner Interest in Partnerships. The new schedules will provide for increased disclosure of information regarding such items as allocable interest expense and home office deductions, as well as effectively and non-effectively connected income that is included in Form K-1 reported by a partnership to a foreign corporate partner and that is reportable by the partner on Form 1120-F. The new schedules also provide a consistent reporting format for all taxpayers. In addition, Schedules M-1 and M-2, previously included in Form 1120-F, are now separate forms. Schedule M-1, Reconciliation of Income (Loss) per Books with Income per Return is used by corporations with assets under $10 million. Schedule M-2, Analysis of Unappropriated Retained Earnings per Books, is used by corporations of all asset sizes. The draft form and schedules are available on www.IRS.gov, and any comments should be submitted by May 25, 2007, via e-mail to SchM3@irs.gov.

When it comes down to it, it’s with surprisingly little debate or complaint that the general populace submit to the payment of taxes.