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Volume 10 Issue 1 • January 2010
HEADLINES VSCPA NEWS CONTACT US

IRS Proposes New Registration, Testing and CE Requirements for Tax Return Preparers Not Already Subject to Oversight
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IRS Issues Proposed Regulations Adjusting Use of Some Taxpayer Information
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Federal eFile No Longer Optional for Most Preparers
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IRS Issues Proposed Regulations on New Basis Reporting Requirement
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New CPE Seminars Added to VSCPA’s January Offerings
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GASB Issues Final Statements on OPEB Measurements and Chapter 9 Bankruptcies
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PCAOB Reproposes Auditing Standards on Auditor Risk Assessment
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Federal Taxation Update Podcast (January 4, 2010)
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Virginia Board of Accountancy Proposes New Regulations Governing CPAs; VSCPA Issues Comments

On December 23, 2009, the Virginia Board of Accountancy (BOA) submitted revised regulations governing Virginia CPAs into thefast-track” regulatory process. The regulations were officially posted to the public December 28, 2009, and the VSCPA issued official comments to Gov. Tim Kaine on the proposal that same day. Read a summary of the proposed changes online at www.vscpa.com.


VSCPA Sends Financial Literacy Letter to Governor-Elect Bob McDonnell

To introduce the VSCPA and the important issue of financial literacy education to Virginia's incoming governor, Bob McDonnell, the VSCPA sent a December 22, 2009, letter to McDonnell regarding the Virginia Board of Education's personal finance graduation requirement and the Financial Fitness initiative. The letter introduced McDonnell to the VSCPA's practice of requesting the proclamation each year for Financial Literacy Month, among the VSCPA's other financial fitness initiatives. Read the full letter for more information.


VSCPA Responds to Richmond Times-Dispatch Article About Financial Literacy Requirement

On December 10, 2009, the VSCPA submitted commentary to the Richmond Times-Dispatch in response to the December 10 article, "Mandatory Course Raises Concerns," which detailed some educators' concerns about adopting the one-credit personal finance course requirement for Virginia high school graduation. The Times-Dispatch published the VSCPA's full commentary on December 18, 2009.


VSCPA Donates 100 Piggy Banks to Toys for Tots

The VSCPA donated 100 piggy banks to Toys for Tots, teaching children to use money, make change and accrue savings this holiday season. In addition to the piggy banks donation, VSCPA chapters statewide participated in a toy drive to collect money-minded toys. The VSCPA would like to thank the RichmondNorthern and Tidewater chapters for collecting toys and cash, and donating them to local charities. Children around the state received money-minded toys this holiday season thanks to Virginia CPAs.


Use Your CPA Skills to Make a Difference in Virginia by Volunteering

Volunteering is a great way to develop leadership skills — not only technical skills, but those “soft” skills that are so valuable in today’s market. The deadline for volunteering for the 2010–2011 membership year (May 1, 2010 – April 30, 2011) is Friday, January 15, so visit the VSCPA volunteer opportunities web page today to see how you can lend a hand.


VSCPA Virtual Professional Issues Update: Free CPE Credit

Attend this free, online session on Thursday, January 21 on your lunch hour from 12:30 – 1:30 p.m. from anywhere you have Internet access. Join in for an interactive discussion of the pressing issues facing CPAs and the accounting industry in Virginia, hear about the issues that are on the minds of your fellow members and more fully understand the diverse concerns facing your profession. Plus, earn 1 FREE CPE credit for attending!


Various Tax Season Resources From the VSCPA

As we move into 2010, the tax season that accompanies the beginning of every year is upon us. The VSCPA connects you to several resources to help you navigate the complexities of tax season. Check them out now, and leverage your VSCPA membership to stay ahead this tax season.


VSCPA Offers Webcasts/Webinars Aplenty This Month

From tax to tips to tools to technology, the VSCPA has numerous webcasts/webinars available in January to cover all the topics you need in the most convenient delivery format. Online learning options can help you satisfy your CPE needs on your schedule from anywhere you have Internet access. Don't try to drive through the snow or completely waste a day when you can't make it to the office; complete a few hours of CPE. Check out our partners’ webcast and webinar catalogs to find a course that fits your schedule.


MAP Breakfasts Hosted by the VSCPA in January Offer Insight From Data in Recent Surveys

Gain some perspective about your firm and discuss strategies that have worked for others by attending the Management of an Accounting Practice (MAP) Breakfast on either Wednesday, January 13 from 7:30 – 9:30 a.m. at the Waterford at Fair Oaks in Fairfax or Thursday, January 14 from 7:30 – 9:30 a.m. at the Richmond CPA Center.


Sign Up for CPA Day 2010 by January 12

The VSCPA is holding CPA Day at the Virginia General Assembly on Tuesday, January 19, from 7:30 a.m. to 4:30 p.m. Sign up online or call (800) 341-8189 by January 12, 2010, to represent the CPA profession to Virginia legislators. Your participation in CPA Day 2010 shows Virginia legislators that CPAs are committed to being an integral, active part of the legislative process in Virginia. For a full description and agenda, please visit the CPA Day 2010 web page.


Welcome, New VSCPA Members!

We are pleased to welcome new members who joined in December 2009. As always, we would like to thank all members and their employers for the continued support of the CPA profession.

Virginia Society of CPAs
4309 Cox Road | Glen Allen, VA 23060 | vscpa@vscpa.com |
(804) 270-5344 | www.vscpa.com

Editorial
Jenny Hansen | Writer/Editor | jhansen@vscpa.com
(804) 612-9411

Advertising
Kathleen Cunningham | Marketing Consultant | kcunningham@vscpa.com
(804) 270-5344




From @VSCPANews

Take this quiz and see how your knowledge about detecting and investigating financial statement fraud stacks up: http://bit.ly/6SVnKZ
1:36 PM Jan 04 from TweetDeck

Median retention rate for associations is 90%. As of Dec. 30, the VSCPA's was 95.39%! http://bit.ly/7npzRK #celebrate #topnotchmembers
12:53 PM Jan 04 from TweetDeck

Virginia’s seasonably adjusted unemployment rate, 6.6%, ranked 8th lowest in the nation in Nov. (Virginia Business) http://bit.ly/4U5HKT
4:06 PM Jan 04 from TweetDeck

PCAOB Establishes Academic Fellowship Program For 2010-2011 Academic Year and Solicits Candidates
3:58 PM Jan 04 from TweetDeck

To all our followers, have a safe and happy New Year! 2010 is going to be a good year!
1:35 PM Dec 31 from TweetDeck

 

 

 


Your subscription to Footnote is a benefit of your VSCPA membership. The VSCPA does not sell or distribute your e-mail address to any outside party. To stop receiving Footnote, click here. E-mail your comments and feedback about this e-newsletter to VSCPA Writer/Editor Jenny Hansen. Virginia Society of CPAs| 4309 Cox Road, Glen Allen, VA 23060 | (804) 270-5344 | www.vscpa.com | VSCPA Education Team | (800) 341-8189