FTC Announces Red Flags Delay

AICPA Welcomes Federal Trade Commission’s Delay of

Implementation of “Red Flags” Identity Theft Rule

Exemption Sought for CPAs and CPA Firms Drawn in by Billing Cycle. The American Institute of Certified Public Accountants welcomes the Federal Trade Commission postponement of the Nov. 1 enforcement deadline of the FTC’s Final Rule relating to Identity Theft Red Flags under the Fair and Accurate Credit Transactions Act of 2003.

 “The FTC made an appropriate decision in delaying implementation of the Red Flags Rule and we appreciate the commission’s continuing consideration of our request for a CPA exemption,” said Barry Melancon, president and CEO of the AICPA. “We are concerned about the potentially broad application of the Red Flags Rule to the accounting profession.” >>Read More

Corporate Income Tax Returns Workshops

Written by Sid Kess and now led by AICPA’s top tax instructors,

this course will give you the AICPA advantage with our

unique perspective on the latest tax changes.

Corporate Income Tax Returns Workshop

December 1-2

Look at the most recent tax laws and other developments affecting C Corporations, S Corporations and other business entities, including limited liability companies. Learn how to advise clients and employees on the latest tax planning ideas. Share marketing ideas from top practitioners – based on the latest tax strategies. Plus, a comprehensive practice problem lets you apply what you have learned. For more information, visit our website.

Money Management

Once upon a time, “retirement” meant quitting work forever at age 65. Today, that description no longer applies to many of the millions of Americans who are at or near traditional retirement age. By 2016, workers age 65 and over are expected to account for 6.1% of the total labor force, up sharply from 3.6% in 2006, according to the U.S. Bureau of Labor Statistics. Some of these workers are people who don’t want to be idle and are interested in beginning a second career, while others continue to work into the traditional retirement years because of economic necessity. No matter what the reasons may be, the Alabama Society of CPAs offers these suggestions for any of the millions of people who are changing the definition of retirement.

Visit our website to see the tips suggested by the AICPA.

Public Service Award

Do you know a member who has excelled in public service?

We would like to recognize him or her.

The Public Service Award Program encourages state societies and AICPA members to recognize CPAs who have distinguished themselves in public service activities at the local, state, regional, or national level.  In return, presenting a public service award provides numerous opportunities for motivating volunteers, publicizing the public service activities of CPAs and reinforcing the profession's reputation for commitment to the public good.   

The ASCPA encourages members to nominate firms or individuals for this award.  State level recipients will then be submitted for a national award, to be given at the AICPA spring council meeting.  Use the link to access all documents and guidelines for submission. 

Nomination Form

The deadline has been extended to Thursday, November 12.

Financial Literacy Education Summit

Save the Date

The Second Annual Financial Literacy Education Summit
Friday, December 4th, 2009
Barber Vintage Motorsports Museum

presented by

Financial Educators are invited to come learn about:

Behavioral economics

Payday lending

School-based financial education

Financial social work

Cultural approaches to financial education

Financial education approaches for Human Resources Managers

AND MORE!

For more information and to register for this event, click here.

Best Federal Tax Update

In a business world that is frequently shifting and changing, this course is essential for every successful practitioner. Not only will you be updated on the most important tax issues that will require your attention in 2009, but this course will also review the major trends and changes in the case and regulatory law.  Just a few of the topics to be discussed are listed below:

What Value! Just $155 for Members/$205 for Non-Members

• Explore complete legislative developments: what they mean to individuals and businesses
• Planning in an era of changing tax brackets and rates
• Understand estate and gift tax: is there another big change?
• Find out about dividends: the 0% solution
• Study travel and entertainment: what can be deducted
• Review retirement distributions: timing is everything
• Discover recent developments with business entities, including C corporations, S corporations, partnerships, and limited liability companies
• Find out about self-employment and other payroll tax issues
• Study practice aids, including the 2009 inflation-adjusted amounts, mileage rates, and more

Free EBSA Webcast for Form 5500

The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) will host a free webcast November 5 to help employers, plan administrators and service providers prepare for changes to the Form 5500 and electronic filing requirement that begin with the 2009 plan year filings. An important part of the discussion will focus on the Schedule C and the impact on 403(b) plans. In addition, EBSA staff will discuss the new ERISA Filing Acceptance System (known as EFAST2). Visit EBSA's Web site and click on "Getting Ready for 2009 Form 5500 and Electronic Filing, Part III Webcast" under Compliance Workshops and Webcasts. Registration is required.

The Alabama Society of Certified Public Accountants [ASCPA] is the statewide, professional membership organization representing over 6,500 Alabama CPAs in public practice, industry, government and education. Eleven chapters, various committees and task force groups made up of CPA volunteers develop programs and address issues to help all members be successful professionals. Visit www.ascpa.org

© 2009 Alabama Society of CPAs | PO Box 242987 | Montgomery, AL 36124