Professonal Accountant and Tax Services beween US and Japan

IRS Issues Proposed Regulations on New Basis Reporting Requirement
(IRS) – The Internal Revenue Service today issued proposed regulations under a new law that will require reporting of basis and other information by stock brokers and mutual fund companies for most stock purchased in 2011 and all stock purchased in 2012 and later years. The reporting will be to investors and the IRS. This additional reporting will be optional for stock purchased prior to these dates.
 
Accounting, Audit Issues Addressed in Omnibus Financial Reform Bill
(BNA) – The omnibus financial reform bill (H.R. 4173) passed by the House Dec. 11 includes several amendments applicable to financial reporting and accounting oversight, including the controversial amendment that will exempt small companies from the requirement under the Sarbanes Oxley Act of 2002 that they obtain an external audit of their own review of internal controls over financial reporting.
 
Time Magazine Person of the Year : Ben Bernanke
(Time) – A bald man with a gray beard and tired eyes is sitting in his oversize Washington office, talking about the economy. He doesn’t have a commanding presence. He isn’t a mesmerizing speaker…
 
Casino on Long Island, Table Games in Pa.?
(Stateline) – Long after the recession ends, one of its most visible legacies is likely to be more places — and ways — for Americans to gamble.
 
Survey Finds Tax Prep Fees Average $229
(Web CPA) – A biennial survey by the National Society of Accountants found that the cost of preparing an itemized Form 1040 with a Schedule A and a state tax return averages $229.