♦ It’s that wonderful time of year when the flowers bloom, the weather warms, and the taxman cometh. Sam Bari, Jamestown Press, 4-18-12

♦ Yes, every year, despite my best intentions, I wind up rushing to complete my returns at the last minute. A dark cloud and a constant nagging doubt haunt the entire first quarter of every year. Danny Tyree, Summit Daily, 4-13-14

♦ An engineer dies and reports to the pearly gates. St. Peter checks his dossier and says, “Ah, you’re an engineer. You’re in the wrong place.” So the engineer reports to the gates of hell and is let in.

Pretty soon, the engineer gets dissatisfied with the level of comfort in hell, and starts Read More

♦ “It’s fitting that April 14 is National Pecan Day because today, we recognize nuts. And tomorrow, on April 15, we pay our taxes to support them.” -Craig Ferguson

♦ As Tax Day approaches, those tempted to cheat on their income taxes will have to ask themselves a simple question: Is it worth it? Is the possibility of saving some money at the expense of Uncle Sam worth the risk of ending up in a federal prison? David Harper, 4/11/2010, Tulsa World

♦ Consider yourself: as tax day draws near, how many of you are waiting to hear good news from your accountants about various deductions and loopholes you can take advantage of when you file your returns next month? Is there anyone who’s looking to obey the actual spirit, Read More

To cheer up the accountants after this busy week, here are some lawyer jokes:

♦ A doctor, a tax lawyer, a little boy and a rabbi were out for a Sunday afternoon flight on a small private plane. Suddenly, the plane developed engine trouble. In spite of the best efforts of the pilot the plane started to go down. Finally the pilot grabbed a parachute, yelled to the passengers that they had better jump, and bailed out.

Unfortunately, there were only three parachutes remaining. The doctor grabbed one and said, “I’m a doctor, I save lives, so I must live” and jumped out.

The tax lawyer then said, “I am the smartest man in the world, I deserve to live!” He grabbed a parachute and jumped. Read More

♦ Each year on tax day I like to remember a Charles Schultz quote from the Peanuts comic strip: “No problem is so big or so complicated it can’t be run away from.”

♦ When it comes to finances, remember that there are no withholding taxes on the wages of sin. Mae West

♦ Every year around April 15 Americans have a rendezvous with debt.

♦ The client went to the tax preparer and said, I filed my taxes electronically to speed things up, and it worked. I got an audit letter in half the normal time.

♦ On April 15th you count your blessings . . . and then send them to Washington. Read More

♦ The end of March brings up the beginning of April – Tax time. America has the highest standard of living in the world. Unfortunately, we can no longer afford it. Cindy Adams, NY Post, 3-29-09

♦ An accountant was attending a tax seminar in Las Vegas. The lawyer sitting next to him was obviously bored with the presenter, Bob McKenzie, and suggested the two of them slip out to the lobby for a cigar. The accountant replied, “Well, thank you for the invite, but I tried smoking cigars once, and I did not like them… I will have to pass”.

A few minutes passed, and the lawyer asked, “This is a very tiresome presentation… how about we slip down to the bar and have a cocktail?” The accountant replied, “Oh, I tried Read More

♦ April 15 is lurking around the corner, so if you have yet to file your federal tax return, it’s time to set aside a few hours, gather together your financial records, and flee the country. Dave Barry

♦ Two things in life are inevitable: death and taxes. We can’t say for certain when death will come. Tax day, however, is usually April 15, unless it falls on a weekend or holiday. Tracy Bunner, Standard-Examiner 3-12-12

♦ Taxes are paid in the sweat of every man who labors. ~Franklin D. Roosevelt

♦ A patient was at her doctor’s office after undergoing a complete physical exam. The doctor said, “I have some very grave news for you. You only have six months to live.” Read More

TaxConnections Blog Post
The Protectors for Big Business –
Remarks That Are Dynamic

“Strong lives are motivated by dynamic purposes.”

Source: Kenneth Hildebrand

DYNAMIC MEANS “CHANGING; action and in motion.” Dynamic is synonymous with lively, active, energetic, vigorous, and impelling.
In a blink, there is more change.
In another blink, there is additional action. Read More

♦ “Today is April 1, April Fools’ Day, a day that people try to fool their friends and relatives. Don’t confuse that with April 15, when people try to fool the IRS.” –Jay Leno

♦ April is always a difficult month for Americans — even if your ship comes in, the IRS is right there to help you unload it.

♦ “Ignore them and they’ll go away” is great advice for some of life’s annoyances. Unfortunately, it doesn’t apply to taxes. Martha C. White, Time.com April 17, 2012

♦ Unless we wish to hamper the people in their right to earn a living, we must have tax reform. — President Calvin Coolidge Read More

TaxConnections Blog Post
The Protectors for Big Business –

THIS ACRONYM STANDS for the International Financial Reporting Standards being the standards and interpretations adopted by the International Accounting Standards Board (IASB).

During February 2006 the FASB and the IASB concluded a memorandum of understanding stating their intention to seek a convergence of their standards and interpretations by 2008. Remember FIN 48 is a FASB standard.

Read More

Report Concerning Advance Pricing Agreements (2013)

Highlights excerpted:

In February of 2012, the former APA Program was moved from the Office of Chief Counsel to the Office of Transfer Pricing Operations, Large Business and International Division of the IRS (TPO) and combined with the United States Competent Authority (USCA) staff responsible for transfer pricing cases, thereby forming the Advance Pricing and Mutual Agreement (APMA) Program.  During the last quarter of 2013, new proposed revenue procedures governing APA applications and MAP applications were released for public comment in Notice 2013-792013-50 I.R.B. 653, and Notice 2013-78, 2013-50 I.R.B. 633, Read More

We invited investors in to see the internal workings of TaxConnections this past week and they were very excited about what they saw behind the scenes. The question came up “How are you driving so much traffic to TaxConnections?” The answer is simple “A media site connecting a global audience searching for tax help to a world of tax advisors that were previously not easy to find was needed! After all, if you go to the search engines they will give you those tax professionals only in your area or those who have paid to be in the top spots. We give consumers worldwide easy access to a panoply (an impressive collection) of tax advisors with a wide range of experience in one click.” As a result, the traffic keeps coming to www.taxconnections.com.

The investors then asked “How did a tax professional in South Africa get a client in the U.K? Read More

TaxConnections Blog Post
The Protectors for Big Business –
FIN 48

THE FINANCIAL ACCOUNTING Standards Board (FASB ) on July 13, 2006, issued the final interpretation amending FASB Statement of Financial Accounting Standards No. 109, “Accounting for Income Taxes.” Of great importance was FASB Interpretation No. 48, “Accounting for Uncertainty in Income Taxes” (FIN 48. The purpose behind publishing the interpretations was to address the uncertainty in accounting for income tax assets and liabilities. FASB No. 109, in the past, contained no guidance on accounting for income tax assets and liabilities, resulting in businesses taking inconsistent positions. According to Read More