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Full-Text Articles in Accounting
Year-End Individual Taxation Report, Annette M. Nellen, E. Cook, K. Fava, E. Gershman, J. Hagy, J. Horn, D. Moore, D. Newman, T. Newman, K. Rubin
Year-End Individual Taxation Report, Annette M. Nellen, E. Cook, K. Fava, E. Gershman, J. Hagy, J. Horn, D. Moore, D. Newman, T. Newman, K. Rubin
Annette M. Nellen
Several actions by Congress and the IRS aimed to reduce improper claims of the earned income tax credit by increasing preparer penalties and due diligence procedures. * Litigation over restricted stock-based compensation focused on the proper date of the stock's market valuation and the effect of company and SEC restrictions on disposition of the stock. * The Tax Court applied the IRS's recent practice of allowing professional gamblers to deduct ordinary and reasonable nonwagering business expenses over their gambling winnings, overturning a 1951 case holding. * The Tax Court also held that limited partners of a limited partnership who perform …
Individual Taxation: Digest Of Recent Developments, Annette M. Nellen, E. Cook, E. Gershman, J. Hagy, J. Horn, D. Moore, K. Rubin
Individual Taxation: Digest Of Recent Developments, Annette M. Nellen, E. Cook, E. Gershman, J. Hagy, J. Horn, D. Moore, K. Rubin
Annette M. Nellen
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 extended the current individual income tax rates on ordinary income and the rates on qualified dividend and capital gains income for two years through 2012. * The IRS, changing its long-standing position, ruled that debt on a mortgage loan used to acquire, construct, or substantially improve a qualified residence, to the extent it exceeds $1 million, qualifies as home equity indebtedness, and thus the interest on up to $100,000 of that debt is deductible as an itemized deduction. * The Tax Court held that the Sec. 121 exclusion …
Firm And Industry Effects In Accounting Versus Economic Profit Data, Matthew J. Holian, Ali M. Reza
Firm And Industry Effects In Accounting Versus Economic Profit Data, Matthew J. Holian, Ali M. Reza
Matthew J. Holian
This article presents estimates of firm and industry fixed-effects on profit rates for large US corporations, using both Economic Value Added (EVA), the popular measure of profits produced by Stern Stewart and Company, as well as simple (unadjusted) accounting measures as the dependent variable. We find that the improvement in explanatory power of the fixed-effect model is substantially greater when using EVA than has been documented with alternative measures.
Individual Taxation: Digest Of Recent Developments, Annette M. Nellen, E. D. Cook, A. C. Fowler, E. A. Gershman, J. C. Hagy, J. Horn, D. L. Neuschwander, D. Newman, N. Stapleton
Individual Taxation: Digest Of Recent Developments, Annette M. Nellen, E. D. Cook, A. C. Fowler, E. A. Gershman, J. C. Hagy, J. Horn, D. L. Neuschwander, D. Newman, N. Stapleton
Annette M. Nellen
TIGTA made recommendations regarding the use of individual tax identification numbers (ITINs) with respect to refundable tax credits such as the child tax credit. TIGTA also recommended that the IRS develop a new process to prevent erroneous claims for the earned income credit. • The IRS issued guidance providing the procedure for electing under Sec. 108(i) to include income from indebtedness discharged in a reacquisition of a debt instrument in gross income ratably over a five-year period. • The IRS issued advice to its employees regarding the determination of whether a taxpayer can claim a dependency exemption for a noncustodial …
Moving Towards A Culturally Diverse Accounting Profession, Mary F. Calegari, E. Jenkins
Moving Towards A Culturally Diverse Accounting Profession, Mary F. Calegari, E. Jenkins
Mary F. Calegari
This paper discusses the increasing diversity in the accounting profession. Evidence is presented substantiating that over one third of recent accounting graduates are from ethnic minority backgrounds, the majority of whom are Asian/Pacific Islanders. In our university specific data, we find an even higher percentage (71%) of ethnic minorities receiving accounting degrees, with Asian/Pacific Islanders as the majority group. We also show that over one fourth of new accounting graduates hired by accounting firms are ethnic minorities of which fifty percent are Asian/Pacific Islanders. However, a recent survey by the AICPA indicates that only 4% of partners in accounting firms …
Changing Careers -- Six Options For Becoming A Cpa, Elizabeth V. Grace, T. G. Black
Changing Careers -- Six Options For Becoming A Cpa, Elizabeth V. Grace, T. G. Black
Elizabeth V. Grace
No abstract available.
The Persistence Of Accounting Versus Economic Profit, Matthew J. Holian, Ali M. Reza
The Persistence Of Accounting Versus Economic Profit, Matthew J. Holian, Ali M. Reza
Matthew J. Holian
Drawing on Schumpeterian theory, this article presents estimates of a first-order autoregressive model of profit persistence for large US firms, using Economic Value Added (EVA), the popular measure of profits produced by Stern Stewart and Company, and simple (unadjusted) accounting measures from the Compustat database. We hypothesize about the differences we should expect to find between these two sets of estimates, and also provide a fresh normative assessment of the dynamic competitiveness of the US economy.
Corporate Social Responsibility And Earnings Reporting, Mary F. Calegari, T. Chotigeat, M. A. Harjoto
Corporate Social Responsibility And Earnings Reporting, Mary F. Calegari, T. Chotigeat, M. A. Harjoto
Mary F. Calegari
Despite increasing interests on corporate social responsibility (CSR) activities among managers, the relationship between CSR and firm value through earnings reporting quality is still unclear. Absence of a strong positive effect of CSR on firm value has led researchers to believe that CSR is a res ult of a principal-agent issue between shareholders and managers. This study argues CSR represents a corporate culture that influences how a corporation reports its earnings. CSR influ ences earnings reporting ·instead ofearnings reporting drives CSR to delude shareholders. CSR induces better earnings reporting quality, therefore, CSR has an indirect but positive effect on firm …
Integrating Modern World Tax Issues Into The Classroom, Annette M. Nellen
Integrating Modern World Tax Issues Into The Classroom, Annette M. Nellen
Annette M. Nellen
The article examines the benefits of interdisciplinary and integrated coursework that brings modern world issues into a tax classroom. Among the topics suggested for possible integration into such a course are virtual worlds and climate change. It says the subjects where chosen for their currency and the advantages they offer in engaging college students and providing an opportunity for them to apply integrated learning in the course. Some resource materials relevant to tax issues are also provided.
The 50th Anniversary Of Stopgap Legislation, Annette M. Nellen
The 50th Anniversary Of Stopgap Legislation, Annette M. Nellen
Annette M. Nellen
No abstract provided.
Calls For Accountability: Will It Help The Overall Incentives Process?, Annette M. Nellen
Calls For Accountability: Will It Help The Overall Incentives Process?, Annette M. Nellen
Annette M. Nellen
No abstract provided.
Individual Taxation Report, Annette M. Nellen, E. Cook, D. Neuschwander, S. Q. Covington, J. Horn, M. Musacchio, J. Walloch
Individual Taxation Report, Annette M. Nellen, E. Cook, D. Neuschwander, S. Q. Covington, J. Horn, M. Musacchio, J. Walloch
Annette M. Nellen
Recent developments affecting taxation of individuals, including legislation, regulations, and IRS guidance, are presented in Code section order.
Recent Developments In Individual Taxation, Annette M. Nellen, E. Cook, J. Horn, M. Musacchio
Recent Developments In Individual Taxation, Annette M. Nellen, E. Cook, J. Horn, M. Musacchio
Annette M. Nellen
The article focuses on developments affecting individual taxation in the U.S. It says that the Small Business and Work Opportunity Tax Act of 2007 raised the age requirements for Sec. 1(g) effective for tax years after May 2007. It notes that final regulations on the child and dependent care credit clarify that expenses for a child in kindergarten or higher grades do not qualify for the credit. Recommendations in the report "Reducing the Federal Tax Gap: A Report on Improving Voluntary Compliance" are cited, such as enhancement of taxpayer service.
Incentives Bring Zero-Emission Vehicle Manufacturing To California, Annette M. Nellen
Incentives Bring Zero-Emission Vehicle Manufacturing To California, Annette M. Nellen
Annette M. Nellen
No abstract provided.
Earnings Quality And Corporate Governance In Ipo Firms, Mary F. Calegari, M. A. Harjoto
Earnings Quality And Corporate Governance In Ipo Firms, Mary F. Calegari, M. A. Harjoto
Mary F. Calegari
No abstract provided.
Treatment Of Legal Fees Incurred By Individuals, Annette M. Nellen
Treatment Of Legal Fees Incurred By Individuals, Annette M. Nellen
Annette M. Nellen
If the origin of a claim that generated legal fees is personal, the fees are not deductible. Possible favorable treatment for legal fees includes either above-the-line deductions or adjustments to basis or selling price in a property transaction. Some taxpayers have claimed described legal fees in such a way that they directly reduce the related income.
Rising Expectations In Business Education, Annette M. Nellen, Marlene E. Turner
Rising Expectations In Business Education, Annette M. Nellen, Marlene E. Turner
Annette M. Nellen
The article comments on the rising expectations in business education. It explains the term liberal education. It mentions the Liberal Education & America's Promise Campaign launched by the Association of American Colleges & Universities in 2005. The article also notes that integrative learning is particularly relevant because it melds students' professional and liberal educations.
Incorporating Tax Reform Into Tax Courses, Annette M. Nellen
Incorporating Tax Reform Into Tax Courses, Annette M. Nellen
Annette M. Nellen
No abstract provided.
The Persistence Of Earnings And Corporate Governance In Ipo Firms, Mary F. Calegari, H. A. Maretno
The Persistence Of Earnings And Corporate Governance In Ipo Firms, Mary F. Calegari, H. A. Maretno
Mary F. Calegari
In this study, we investigate the earnings persistence in IPO firms by examining the two components of earnings: accruals and cash flows. We also analyze the impact of corporate governance on earnings and the two earnings components. In our comparison of the top and bottom quartiles based on the firms' earnings at the IPO year, we find that although the top quartile firms have a significantly positive accrual component in the IPO year, they eventually have the same negative accrual component of earnings as the bottom quartile firms in the second year after the IPO. In contrast, we find that …
The Taxation Of Telecommunications In California In The Information Age, J. E. Prieger, T. A. Sexton, Annette M. Nellen
The Taxation Of Telecommunications In California In The Information Age, J. E. Prieger, T. A. Sexton, Annette M. Nellen
Annette M. Nellen
No abstract provided.
The Aicpa's 10 Guiding Principles, Annette M. Nellen
The Aicpa's 10 Guiding Principles, Annette M. Nellen
Annette M. Nellen
Explains the ten guiding principles of good tax policy of a framework outlined in American Institute of Certified Public Accountants Tax Policy Concept Statement No. 1. Analysis of the guiding principles; How the principles can be used to analyze proposals; Application of the guiding principles.
The Effects Of Federal Tax Reform On States, Annette M. Nellen
The Effects Of Federal Tax Reform On States, Annette M. Nellen
Annette M. Nellen
No abstract provided.
Partners & Partnerships - Recent Developments, Annette M. Nellen, H. Burton
Partners & Partnerships - Recent Developments, Annette M. Nellen, H. Burton
Annette M. Nellen
No abstract provided.
Impact Of Tax Reform On International Competitiveness, Annette M. Nellen
Impact Of Tax Reform On International Competitiveness, Annette M. Nellen
Annette M. Nellen
No abstract provided.
The Effect Of Fundamental Tax Reform On Domestic Manufacturing, Annette M. Nellen
The Effect Of Fundamental Tax Reform On Domestic Manufacturing, Annette M. Nellen
Annette M. Nellen
No abstract provided.
Economic Performance - It's Only Part Of The Picture, Annette M. Nellen, K. Marucheck
Economic Performance - It's Only Part Of The Picture, Annette M. Nellen, K. Marucheck
Annette M. Nellen
No abstract provided.
S Corporation Current Developments, Annette M. Nellen, S. S. Karlinsky
S Corporation Current Developments, Annette M. Nellen, S. S. Karlinsky
Annette M. Nellen
No abstract provided.
Pal Rule Clarification Should Aim To Simplify, Annette M. Nellen
Pal Rule Clarification Should Aim To Simplify, Annette M. Nellen
Annette M. Nellen
No abstract provided.
Rental Of Residences, Annette M. Nellen, K. Marucheck
Rental Of Residences, Annette M. Nellen, K. Marucheck
Annette M. Nellen
No abstract provided.