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Isaac M. O'Bannon

Managing Editor

isaac.obannon@cpapracticeadvisor.com

Isaac M. O'Bannon is the managing editor and digital content manager for CPA Practice Advisor (www.CPAPracticeAdvisor.com), drawing on two decades of experience covering the areas of professional accounting, taxation, business productivity and consumer technologies. Prior to CPA Practice Advisor, O'Bannon was a consultant at firms in San Francisco, Denver and Tulsa, serving clients that included Logitech, Polycom, Hilti, Microsoft, the Stanford Research Institute, the University of Oklahoma's College of Engineering and other technology leaders. He is a U.S. Navy veteran. Email: isaac.obannon - @ - cpapracticeadvisor.com

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IRS

ATP and ABA Credential Holders Exempted from IRS Voluntary Exams

Accredited Tax Preparers (ATPs) and Accredited Business Accountant/Advisors (ABAs) are exempt from the requirement to take an Annual Federal Tax Refresher (AFTR) course and exam that is part of the new Internal Revenue Service (IRS) voluntary Annual Filing Season Program (AFSP).

Accounting

FASB Commended for Update to Financial Guidance Reporting of Going Concern Entities

"“The CAQ commends FASB for its efforts in developing a standard that provides guidance regarding a preparer’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern, and, where required, to provide footnote disclosures about going concern uncertainties each reporting period," said executive director Cindy Fornelli.

Firm Management

Armanino Names Amazon Veteran as General Counsel

Armanino LLP, the largest independent accounting and business consulting firm based in California, announced today the appointment of Chris Carlberg as its first General Counsel in the firm's history. Chris is responsible for overseeing all legal work for the firm as well as advising on business policy and overall governance.

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Income Tax

5 Ways to Spot Fake IRS Phone Calls

The Internal Revenue Service continues to warn taxpayers across the country of a series of scam phone calls from people pretending to be IRS officials in order to get sensitive personal information. On Thursday, the agency issued a new consumer alert to provide taxpayers with additional tips to protect themselves.

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Accounting

Florida CPA Wins Primary Race for Mosquito Control Board

In the Florida Keys, mosquitoes are a major nuisance, and one big enough that it apparently requires local government involvement in fight against the little blood-sucking fiends. Unlike many municipal positions, however, in the Keys this race is partisan.

Firm Management

AccountantsWorld Redesigns Website Relief

Accounting software and technology provider AccountantsWorld has finished a major redesign to Website Relief, a cloud-based solution that helps accounting firms create websites and virtual offices. The new Website Relief design is intended to make it easier than ever for accountants to build websites that engage and inform both existing and potential new clients.

Taxes

Tax Research Certificate Program Helps Hone Knowledge and Skills

Thomson Reuters has launched a new Checkpoint Learning Tax Research Certificate Program designed to help professionals develop foundational tax research knowledge and skills. It is designed to fill in knowledge gaps for entry-level tax professionals and those re-entering the workforce after an extended leave. The program also applies to accounting and audit professionals from diverse organizations who wish to gain valuable tax research capabilities.

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Accounting

Most Millennials Wish They Were Better Prepared Financially, 1/4 Under Extreme Financial Stress

TD Bank survey finds most millennials wish they were better prepared for life events.

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Income Tax

Truckers: Highway Use Tax Returns Due Sept. 2

Hey truckers, "got your ears on?" The Internal Revenue Service is reminding truckers and other owners of heavy highway vehicles that in most cases, their next federal highway use tax return is due on Tuesday, Sept. 2, 2014.

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Income Tax

Wolters Kluwer, CCH Tax Data Chosen by IRS for 10th Consecutive Year to Help Millions File Returns

For the 10th year in a row, Wolters Kluwer, CCH has been selected by the Internal Revenue Service (IRS) for its comprehensive sales tax rate and taxability tables to help millions of taxpayers across the country prepare their tax returns. With access to updated information from thousands of tax jurisdictions provided by Wolters Kluwer, CCH, tax filers can determine whether they'll save more by deducting state and local sales taxes they've accrued during the year instead of taking standard or itemized tax deductions.

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Accounting

Intuit Introduces Quicken 2015 for Mac

Personal and business finance software maker Intuit has released the latest version of Quicken 2015 for Mac, which offers a new, clean and simple interface designed specifically for Mac users, as well as new investment management capabilities. The program also syncs with a free mobile companion app providing the ability to photograph and track receipts so users can more easily stay on top of their money.

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Accounting

Businesses Paid $671 Billion in State and Local Taxes in 2013, Up 4.3%

Business taxes account for 44.9% of all state and local taxes.