TFOG - Notice of Renewal of IRS Advisory Council, PBGC - Prop Rule on Cash Balance Plans, CFPB - Request for Comments, SEC Suspension of Trading Orders, HRSA - Childhood Vaccines Meeting

TFOG:

IRS Notice of Renewal on Advisory Council Charter:

The Charter for the Internal Revenue Service Advisory Council (IRSAC), has been renewed  for a  two-year period  beginning  October 20, 2011.

The  primary  purpose of  the advisory council  is to provide an organized  public forum  for Internal Revenue Service officials and representatives of  the  public to discuss relevant tax administration issues.

Pension Benefit Guarantee Corp.  - Proposed Rule Cash Balance Plans; Benefit Determinations and Plan Valuations for Statutory Hybrid Plans: Pension Protection Act of 2006 - comments due 12/30/11. read on below.

Consumer Financial Protection Bureau - Notification and Comments Request:

Considering information to be collected to facilitate and monitor and respond to Consumer Compaints - about Financial Products and Services - submissions for consideration due by 12/30/11

CFPB is soliciting  comments for a proposed generic information  collection that will help the CFPB satisfy responsibilities under the Dodd-Frank Wall Street Reform and  Consumer  Protection  Act,  Public  Law  No. 111–203 (Dodd-Frank Act)  found in Sections 1013(b)(3) and 1034 of  the  Dodd-Frank Act. Currently,the CFPB is soliciting comments on a proposed  generic information collection to help facilitate the collection and monitoring of and  response to consumer complaints about certain financial products and  services.

SEC  Suspension of  Trading  Orders:

SEC issues Suspension of Trading Orders where there are issues with Securities / Companies to suspend trading on related Securities. Rad on below to see a Sample of such a suspension order notification bulletin Today.

Health  Notice of   Advisory Meeting  on  Child Vaccines:

Child Vaccines are a matter of interest to both Medical Professionals and Parents since the Vaccines are frequently mandated.

HRSA - Advisory Commission on Childhood Vaccines meeting in MD on Dec 8 & 9, 2011 - read on below for details.


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IRS Notice on Charter Renewals
PBGC Prop Rule on Cash Balances
CFPB Notice - Comment Request
SEC Suspension of Trading Orders

Health Notice of Advisory Meeting on Childhood Vaccines

DCarsonCPA.com is the web presence of the Practice of Dean T. Carson II, CPA here to assist Financial Decision Makers in Business, Non Profit and Individual roles to support Accounting, Taxes, Advisory, Operations and Governmental Research with relevancy to Financial Decision Making or related areas in Quality of Life. Learn more at http://www.dcarsoncpa.com/ or e-mail us at info@dcarsoncpa.com .

NAICS Codes - a locator reference

In order to help those of you who frequently need to report NAICS codes we are providing the followinhg reference link for NAICS Codes. Please follow the link below to US Census Bureau for NAICS Codes:

http://www.census.gov/naics/2007/NAICOD07.HTM

Explanation on what NAICs are:

http://en.wikipedia.org/wiki/NAICS


DCarsonCPA.com the web presence of Dean T. Carson II, CPA working to support the line of Financial Decision Makers between Government, Industry, Business, Non Profits and Individuals.  Learn more at www.dcarsoncpa.com or e-mail us at info@dcarsoncpa.com .

IRS Deductions for Worthless Securities under US Tax Rules

IRC Tax Rules on the Deduction of Worthless Securities (a brief extraction from the Rules):

§ 1.165-5 Worthless securities.

(a) Definition of security. As used in section 165(g) and this section, the term “security” means:

(1) A share of stock in a corporation;

(2) A right to subscribe for, or to receive, a share of stock in a corporation; or

(3) A bond, debenture, note, or certificate, or other evidence of indebtedness to pay a fixed or determinable sum of money, which has been issued with interest coupons or in registered form by a domestic or foreign corporation or by any government or political subdivision thereof.

(b) Ordinary loss. If any security which is not a capital asset becomes wholly worthless during the taxable year, the loss resulting therefrom may be deducted under section 165(a) as an ordinary loss.

(c) Capital loss. If any security which is a capital asset becomes wholly worthless at any time during the taxable year, the loss resulting therefrom may be deducted under section 165(a) but only as though it were a loss from a sale or exchange, on the last day of the taxable year, of a capital asset. See section 165(g)(1). The amount so allowed as a deduction shall be subject to the limitations upon capital losses described in paragraph (c)(3) of §1.165–1.

(d) Loss on worthless securities of an affiliated corporation —(1) Deductible as an ordinary loss. If a taxpayer which is a domestic corporation owns any security of a domestic or foreign corporation which is affiliated with the taxpayer within the meaning of subparagraph (2) of this paragraph and such security becomes wholly worthless during the taxable year, the loss resulting therefrom may be deducted under section 165(a) as an ordinary loss in accordance with paragraph (b) of this section. The fact that the security is in fact a capital asset of the taxpayer is immaterial for this purpose, since section 165(g)(3) provides that such security shall be treated as though it were not a capital asset for the purposes of section 165(g)(1). A debt which becomes wholly worthless during the taxable year shall be as an ordinary loss in accordance with the provisions of this subparagraph, to the extent that such debt is a security within the meaning of paragraph (a)(3) of this section.

(2) Affiliated corporation defined. For purposes of this paragraph, a corporation shall be treated as affiliated with the taxpayer owning the security if—

(i)( a ) In the case of a taxable year beginning on or after January 1, 1970, the taxpayer owns directly—

( 1 ) Stock possessing at least 80 percent of the voting power of all classes of such corporation's stock, and

( 2 ) At least 80 percent of each class of such corporation's nonvoting stock excluding for purposes of this subdivision (i)( a ) nonvoting stock which is limited and preferred as to dividends (see section 1504(a)), or

( b ) In the case of a taxable year beginning before January 1, 1970, the taxpayer owns directly at least 95 percent of each class of the stock of such corporation;

(ii) None of the stock of such corporation was acquired by the taxpayer solely for the purpose of converting a capital loss sustained by reason of the worthlessness of any such stock into an ordinary loss under section 165(g)(3), and

(iii) More than 90 percent of the aggregate of the gross receipts of such corporation for all the taxable years during which it has been in existence has been from sources other than royalties, rents (except rents derived from rental of properties to employees of such corporation in the ordinary course of its operating business), dividends, interest (except interest received on the deferred purchase price of operating assets sold), annuities, and gains from sales or exchanges of stocks and securities. For this purpose, the term “gross receipts” means total receipts determined without any deduction for cost of goods sold, and gross receipts from sales or exchanges of stocks and securities shall be taken into account only to the extent of gains from such sales or exchanges.

(e) Bonds issued by an insolvent corporation. A bond of an insolvent corporation secured only by a mortgage from which nothing is realized for the bondholders on foreclosure shall be regarded as having become worthless not later than the year of the foreclosure sale, and no deduction in respect of the loss shall be allowed under section 165(a) in computing a bondholder's taxable income for a subsequent year. See also paragraph (d) of §1.165–1.

(f) Decline in market value. A taxpayer possessing a security to which this section relates shall not be allowed any deduction under section 165(a) on account of mere market fluctuation in the value of such security. See also §1.165–4.

(g) Application to inventories. This section does not apply to any loss upon the worthlessness of any security reflected in inventories required to be taken by a dealer in securities under section 471. See §1.471–5.

(h) Special rules for banks. For special rules applicable under this section to worthless securities of a bank, including securities issued by an affiliated bank, see §1.582–1.

(i) Abandonment of securities —(1) In general. For purposes of section 165 and this section, a security that becomes wholly worthless includes a security described in paragraph (a) of this section that is abandoned and otherwise satisfies the requirements for a deductible loss under section 165. If the abandoned security is a capital asset and is not described in section 165(g)(3) and paragraph (d) of this section (concerning worthless securities of certain affiliated corporations), the resulting loss is treated as a loss from the sale or exchange, on the last day of the taxable year, of a capital asset. See section 165(g)(1) and paragraph (c) of this section. To abandon a security, a taxpayer must permanently surrender and relinquish all rights in the security and receive no consideration in exchange for the security. For purposes of this section, all the facts and circumstances determine whether the transaction is properly characterized as an abandonment or other type of transaction, such as an actual sale or exchange, contribution to capital, dividend, or gift.

(2) Effective/applicability date. This paragraph (i) applies to any abandonment of stock or other securities after March 12, 2008.

[T.D. 6500, 25 FR 11402, Nov. 26, 1960; 25 FR 14021, Dec. 31, 1960, as amended by T.D. 7224, 37 FR 25928, Dec. 6, 1972; T.D. 9386, 73 FR 13124, Mar. 12, 2008]

As of Read Date 10/28/11 ALL Tax Rules subject to change and update and must be confirmed as filing or relying to verify that the facts, circumstances and validity of the transaction match the rules of the IRC in the aggregate.

DCarsonCPA.com is the web presence of Dean T. Carson II, CPA a Traditional and Strategic CPA Practice here to support the needs of Business, Non Profit and Individual Financial Decision Makers. Learn more at www.dcarsoncpa.com or e-mail us at info@dcarsoncpa.com .

TFOG - Final Rule on US Bonds and 2 Proposed Rules Bureau of Economic Analysis + Student Loans

 Today from Our Government (TFOG):

Following Finance related Updates from Our Government today we share with you the following in overview:

Bureau of the Public Debt / FST - Final Rule on US Bonds - EFF 1/12/11 Treasury is Discontinuing the OTC (Over the Counter Sales) of  paper savings bonds (read on below for more)

SUMMARY: Treasury is discontinuing the over-the-counter sales of  definitive(paper)  savings bonds. This includes sales through financial institutions and mail-in orders. The elimination of  definitive  savings  bon d  issuances  will reduce program costs, enhance customerservice, and minimize environmental impact.

Bureau of Economic Analysis (BEA) Proposed Rule - update to form BE-150

International Service Surveys: Amendments to the BE-150 Quarterly Survey of Cross-Border Credit, Debit and Charge Card Transactions. Comments due by 12/27/2011 - (read below for more)

Student Loans Proposed Rule - Notice of Establishment of a Rule Making Committee. HEA Act 1965.

SUMMARY: Govt  announces intention to establish a negotiated rulemaking committee to prepare proposed regulations governing the student loanprograms authorized under title IV of the Higher Education Act of 1965, asamended (HEA). The committee will include representatives of organizationsor groups with interests that are significantly affected by the topicsproposed  for  negotiation.  Rrequesting  nominations  fo r  individual  negotiators who represent  key stakeholder constituencies for the issues to be negotiated to serve on the committee and we set a schedule for committee meetings.

DATES:

Must submit nominations for negotiators to serve on the committee on or before November 28, 2011.

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10-28-11 Final Rule Fiscal Service Rule on Bonds

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10-28-11 BEA Prop Rule Form BE-150

10-28-11 Prop Rule Student Loans


DCarsonCPA.com is the web presence of Dean T. Carson II, CPA here to support your Business, Non Profit and Individual needs for Financial Decision Makers and working to better connect the line on Government, Industry, Business, Non Profit and Individual Decision Making. We work with hands on skills, a reference network of highly skilled professionals and research to deliver a broad solution set for Financial Decision Makers. We are inspired to help leaders in their decision making process through better information. We hope to support Decision Making that will help improve the future of Our Nation on the Economy and Jobs for Families - we are standing forward in a time of great Economic Challenges in Financial Markets, commited to the cause of helping Financial Decision Makers better lead with information resources - we are here to assist on the avenue of supporing financial decision making information. Learn more at www.dcarsoncpa.com or reach us at info@dcarsoncpa.com .

TFOG - ERISA Final Rule - Prohibited Transactions Exemption Procedures, L.O.C. - Remedies for Small Copyright Claims,Prop. Rule Agriculture Career Grants Program, Final Rule Approval of Grape Variety Names for American Wines.

TFOG - Business Related Rules from EBSA on ERISA Prohibited Transaction Exemptions, Library of Congress on Small Copyright Claims, Dept. of Agriculture Proposed Rule - Agriculture Career and Employment Grants, and for Vinters Treasury Final Rule / Decision on Approval of Grape Variety Names for American Wines. Read All Below as issued.

ERISA - Final Rule on Prohibited Transaction Exemption Procedures, Employee Benefit Plans. Iss 10/27/11 Eff 12/27/11

Library of Congress - Remedies for Small Copyright Claims

Dept of Agriculture - Proposed Rule Agriculture Career and Employment Grants. Comment through 12/27/11

Treasury - Final Rule / Treasury Decision : Approval of Grape Variety Names for American Wines Iss. 10/27/11 Eff 11/28/11.


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10-27-11 ERISA Final Rule Prohibited Transactions, Exemption Procedures Employee Benefit Plans

10-27-11 LOC Remedies for Small Copyright Claims

10-27-11 Agriculture Career and Employments Grants

10-27-11 Treasury Approval of Grape Variety Names for American Wines


DCarsonCPA.com is the web presence of Dean T. Carson II, CPA connecting the line between Government, Industry, Business, Non Profit and Individual Decision Makers, "We Bring Knowledge and Experience" through services. Learn more at www.dcarsoncpa.com and reach us at info@dcarsoncpa.com . For Accounting, Taxes, Compliance, Advisory (Including Fundraising support, RFP Applications support, Equity Capital and Loan Application support on Financials and Business Plans and more) and Research Services. We are a Traditional and Strategic CPA Practice with key knowledge from Investment Banking Operations experience,  Analyst Path Training and never forget strong training in Industry through work and on the CMA and CPA Path in Acountancy from Pace University. We adhere to the guidelines and support your Financial needs based on experience.

TFOG - IRS Rule, IRS Prop. Rule Withdraw, Labor, Board of Ed, FDA HHS - Comments on Final Bar Code Rule

TFOG - Today from Our Government:

IRS Final Rule - Disregarded Entities, Excise Taxes and Employment Taxes

IRS Withdraw of Proposed Rule - On Election of Corporation (S-Corp, Banks - read on)

Dept. of Labor - Final Rule Revising Form LM -30 on Labor Organization Officers and Employees

Dept. of Ed - Intent to Establish Negotiated Rule Making Committee to prepare proposed Rules under higher Education Act (HEA) of 1965 Tiles II & IV

Negotiated Rulemaking Committee, Negotiator Nominations and Schedule of Committee Meetings—Teacher Preparation and TEACH Grant Programs

FDA HHS: Review of Final Bar Code Rule,

The  Food  and  Drug  Administration  (FDA)  is  announcing  a  review of  the ‘‘Bar Code  Final  Rule,’’under Executive Order 13563,‘‘Improving  Regulation  and  Regulatory  Review.’’

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10-26-11 IRS Final Rule Disregarded Entities, Excise Taxes and Employment Taxes


10-26-11 IRS Prop Rule Withdraw on Election of Corporation

10-26-11 DOL Final Rule Labor Organization Officer and Employee Reports 

10-26-11 Board of Ed Negotiated Rule Making Committees Notice

10-26-11 FDA HHS Comments Notice Bar Code Final Rule

Connecting the line of Government, Industry, Business, Non Profit, and Individual Decision Making DCarsonCPA.com is the web presence of Dean T. Carson II, CPA . We are here to assist your Business, Non Profit and Individual needs for Accounting, Txes, Compliance, Operations, Advisory, Analysis and more. Find us at www.dcarsoncpa.com or reach us at info@dcarsoncpa.com .

TFOG - ERISA New Rule Investment Advice for Participants and Beneficiaries, IRS Proposed Rule on Partners Distributive Share and Hearing Cancellation Notice on Modifications of Certain Derivative Contracts, CFTC Notice on Proposed Amendment to Effective Date of Swap Regulations

TFOG : Today from Our Government : ERISA New Rule, IRS Proposed Rule and Cancellation Notice, CFTC Notification of Effective Date

ERISA New Rule Eff 12/27/11 - Investment Advice for Participants and Beneficiaries. Read Below.

IRS Notice of Proposed Rulemaking - Partner's Distributive Share. removing §1.704–1(b)(2)(iii)(e) (the de minimis partner rule). Open for Comment through 1/23/12.

IRS Notice of Hearing Cancellation - Modifications of Certain Derivative Contracts previously scheduled for 10/27/11 at 10 am.

CFTC Notice of Prospective Amendment to Effective Date or Swap Regulations - Open for Comment through 11/25/11

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10-25-11 ERISA Final Rule Eff 12-27-11 Investment Advice—Participants and Beneficiaries

10-25-11 IRS Proposed Rule Making Partner’s Distributive Share

10-25-11 IRS Notice of Cancellation of Hearing Modifications of Certain Derivative

10-25-11 CFTC Notice of Proposed Ammendment to Effective Date for Swap Regulation


DCarsonCPA.com is the web presence of Dean T. Carson II, CPA working to better connect the line of Government, Industry, Business, Non Profit and Individual Decision Making.  We help you better connect with the Rules and Regulations that impact your Accounting and Operations and the General Business, Non Profit and Individual Financial Landscape. Learn more at http://www.dcarsoncpa.com/ or reach us at info@dcarsoncpa.com .

TFOG - Today from Our Government - SEC Proposed Rule on Swap Dealer Registration, IRS Proposed Rule Consolidated Net Unrealized Built-in Gain or Loss under § 1502 IRC, New Medicare Rule & Proposed Rules and more.

TFOG - Today from Our Government:

A Sample of Key Relevant Relevant Financial Driven or Oriented events in Our Government as Proposed Rule from the SEC on Swap Dealer and Major Participant Registration, IRS Proposed Rule (Redetermination of the Consolidated Net Unrealized Built-in Gain or Loss under § 1502 IRC ) and Request for Applications at the IRS re: Non Profits and Government Advisory Committee, Final Rules and Proposed Rules impact the Healthcare Industry at Health and Human Services corespondent to Medicare and Medicaid, and a sample notification of Bank Holding Companies activities under the Bank Holding Company Act of 1955 covering Formations, Acquisitions and Mergers.

at the SEC:

Proposed Rule Open for Comments through 12/19/11 on Registration of Security Based Swap Dealers and Major Security Based Swap Participants.

at the IRS:

Notice of Proposed Rule Open for Comments for request for Public Hearing through through 1/23/12 on  Redetermination of the Consolidated Net Unrealized Built-in Gain or Loss. under § 1502 of the IRC.

Request for Applications for the Advisory Committee on Tax Exempt and Government Entities.


at Health and Human Services / Medicare:

Final Rule - Medicare Program, Changes to the Ambulatory Surgical Centers Patient Rights, Conditions for Coverage. Iss 10-24-11 eff 12-23-11

Proposed Rule - Medicare and Medicaid Programs. Reform of Hospital and Critical Access Hospital Conditions of Participation. Open for Comment through 12/23/11 - see details below.

Proposed Rule - Medicare and Medicaid Reform, Regulatory Provisions to Promote Program Efficiency, Transparency and Burden Reduction. Open for Comment through 12/23/11 - details below.

at FRS:

10-24-11 Notice  - Formations of, Acquisitions by, and Mergers of Bank Holding Companies under
the Bank Holding Company Act of 1955, 12 CFR Part 225, 12 U.S.C. 1841et. seq.


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10-24-11 SEC Proposed Rule Regulation of Security-Based Swap Dealers and Major Serurity Based Swap Particip...

10-24-11 IRS Proposed Rule

10-24-11 IRS Request for Nominations Tax Exempt and Government Advisory

10-24-11 New Rule Medicare




10-24-11 Proposed Rule Medicare






10-24-11 Proposed Rule Medicare Burden




Notice 10-24-11 FRS Formations of, Aqcquisitions Of


DCarsonCPA.com the Practice of Dean T. Carson II, CPA using wide ranging abilities with Research to better connect Financial Decision Makers in Government, Industry, Business, Non Profit and Individual roles we are here to support your Business, Non Profit and Individual needs on Accounting, Operations, Management and Financial Reporting, Analysis, Advisory and much more. Learn more at http://www.dcarsoncpa.com/ or reach out to us at info@dcarsoncpa.com .

TFOG - Pricing on Uncirculated 2011 American Eagle Silver Coins

TFOG - 10/21/11 In absence of Financial Regulations other than SRO pronouncements we bring you a diversion.

Pricing on Uncirculated 2011 American Eagle Silver Coins


2011 American Eagle Uncirculated Pricing

TFOG: IRS 1 New Rule - Guidance Regarding Treatment of Stock of a Controlled Corp under § 355 (a) (3) (b) , 2. Proposed Rule Corrections to § 6695 Preparer Penalties

Today from Our Government (TFOG):

1. New IRS Rule: Guidance Regarding Treatment of Stock of a Controlled Corp under § 355 (a) (3) (b)

2. Corrections to Proposed Rule under § 6695 Tax Preparer Penalties

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New IRS Rule Regarding Treatment of Stock of a Controlled Corporation Under § 335 (a)(3)(b)


Proposed Rules IRS Correction to Preparer Penalties under § 6695

DCarsonCPA.com is the web presence of Dean T. Carson II, CPA the Traditional and Strategic Practice that is here to support your Business, Non Profit and Individual needs for Accounting, Advisory, Taxation, Compliance and more. We support Decision Makers on services and connect the broad lines of Government, Industry, Business, Non Profit and Individuals. Learn more at http://www.dcarsoncpa.com/ or reach us at info@dcarsoncpa.com .

TFOG : From the IRS - New Rule on Qualified Film and Television Production Credits ISS 10-19-11 EFF 10-18-11 and Proposed Rule Open through 1-17-11

Today from Our Government (TFOG):

New IRS Rule on Qualified Film and Television Production Costs Iss 10-19-11 Eff 10-18-11

and

Proposed Rule on Qualified Film and Television Production Costs - open for comment through 1-17-11

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10-19-11 New IRS Rule Deduction for Qualified Film and TV Production Costs

10-19-11 IRS Proposed Rule - Deduction of TV and Film Production for Comment Thru 1-17-12

DCarsonCPA.com is the web presence of Dean T. Carson II, CPA we are here to support Businesses, Non Profits and Individuals on Accounting, Taxation, Operations, Advisory, Finances and more. We are here to support Clients in the Entertainment Industry along with other Industries covered and provide siginificant value added services of Accounting and Reporting to help you track and protect your assets with strong controls. We do not currently offer Investments which means that we are exclusively focused on protecting your wealth within the guidelines of Regulatory Compliance. Learn more at www.dcarsoncpa.com or reach us at info@dcarsoncpa.com .

Cycling back to Accounting, FASB, GAAP and the Simple Truths in A=L+OE

We spend time in broad areas to demonstrate Our wide ranging ability to support decision makers in ways that include but are not Limited to Accounting, Taxation, Advisory, Consulting, Financial Analysis, Business Analysis, Financial Modeling, Regulatory Compliance Consulting and more. We consider the connection between Government, Industry, Business, Non Profits and Individuals with the connecting line of support to Financial Decision Makers in many varied capacities with differing needs in Financial Services and Management Information. We are a solution set for broad and focused needs.

But when we return to the core skill set it comes from a Knowledge base built on the Financial Foundation of knowledge of Accounting. Accounting is the Key Decision Making tool that supports Corporate Finance, Financial Analysis, Controls, Capital Markets and much more. While we continue to expand our skills to the path of Legal and Advanced Finance through the Analyst Training path we are always remaining in close connection to GAAP and emergent IFRS. You have seen in Our Blog here much of Our Regulatory and Governmental services knowledge but less so of Our Knowledge of US GAAP as produced at FASB. So for a moment we return your Focus to US GAAP the comprehensive standard set for US Businesses.

Where IFRS provides a more open Concept driven framework to reporting, GAAP is the Rules driven set of Accounting Principles that has already been tested and proven in relationship to tough US Regulatory Standards and the highly Litigated landscape of US Business so for the time being we will Focus on GAAP but you need to know that we are actively engaged on IFRS as well, so at a subsequent point  or where you need us to we will cover IFRS too.

In it's current evolution as Accounting Standards Codifications we meet US GAAP as developed by FASB and the community of Accounting Constituents - Producers and Users of Financial Statements benefitted by the new more accesible rules presentation under FASB ASC as they continue to be updated for user friendly updates. We gain strong comfort that the Foundation of Assets = Liabilities + Owners (or Shareholders) Equity (A=L+OE) remain constant and the comfort that the controls, the reconcilitations, the analyses and the core Financial Statements remain relatively constant as consistency has been a key part of the conceptual framework of US GAAP.

FASB US GAAP Accounting Standards Codifications have for several years now been off the old plan of Standards by Number and now reflect the more intuitive approach of breakdown into :

General Principles
Presentation Standards
Assets
Liabilities
Equity
Revenues
Expenses
Broad Topics
Industry Standards

They present a more useable format now that is easier to connect with relevant data on an intuitive level, but don't let the ease of presentation mislead you there is still an ART to Accounting a key knowledge and ability is required to connect substantive transactions to Accounting Treatments in Financials. To foresee the many points in Accounting Data and Reporting Chains that can influence your ability to optimize and utilize Accounting as the tool it is for Management and Investment Decision Making support. We use our years of hands on ownership of Financials, Operations and elements of Financials and Operations in Entities ranging from Fortune 500 to Small and Medium in size, the applied knowledge of Accounting, Accounting Systems, Operations and Analysis tools and support of the various classed of Users of Accounting Information to better support your Business, Non Profit, Governmental and Individual decision making on Financial Matters. We will add some transactional coverage to Our Blog the key points and we are equally interested that you understand the depth of knowledge we can bring to Our Clients on Services accross the spectrum.

Visit us at www.dcarsoncpa.com to learn more or contact us at info@dcarsoncpa.com we are here to cover your needs and the broad knowledge we carry is to add additional value on support services for your needs as a Client in Our Capacity as Trusted Advisors. We care about the Standards, Ethics, your Business, your Finances and the greater role for good that CPAs support in the National Economy in compliance with FASB, Tax and other Regulatory Standards. We work within the framework of Traditional and Strategic CPA Services to bring you knowledge that adds value for Management Decision Makers.

Checking in with the Economists

On a Monthly Basis Capital Markets move based on a series of Events and Financial Reports along with some key Economic Indicators that we are all generally familiar with the broad super categories of these Economic Indicator reports are:

Total Output, Income and Spending
Employment, Unemployment and Wages
Production and Business Activity
Prices
Money, Credit and Security Markets
Federal Finance
International Statistics

Together they provide a barometer of Our Domestic Economy and Our International Trade. It's no suprise that we are all more interested in these reports granted the  overall conditions in Our Economy. You can find a collection of these reports from September below.

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2011 Month of Sept. Economic Reports

We are here to support your needs for Data Compilation and Analysis on Special Projects in the Financial Sector and in General Business. Our skills in Accounting, Financial and Management Reporting lend themselves well to related Research and Financial Modeling support needs. Find us at www.dcarsoncpa.com or reach us at info@dcarsoncpa.com .

TFOG : Proposed Rules for FRS (2) and FSOC (1)

Today from Our Government:

2 Proposed Rules at the FRS (Federal Reserve System) and 1 at the FSOC (Financial Services Oversight Committee).

FRS - Proposed Rules open for Comment Impacting 1. "As of Adjustments" and 2. Reserve Requirements of Federal Insured Depository Institutions.

FSOC - Proposed Rule open for Comment on  Authority to Provide Supervision and Regulation of certain Non-Bank Financial Companies.

Proposed Rules is the last interactive phase of Legislation where Public Interaction from interested parties is sought prior to issuing a Final Rule which becomes the Regulatory Requirement.

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10-18-11 FRS Proposed Rule Update Impacting as of Adjustments

10-18-11 FRS Proposed Rule Reserve Requirements

10-18-11 FSOC 2nd Notice of Proposed Rule on Non Bank Fin Co Oversight

House Oversight Meeting on the Mutual Fund Industry 6-24-11 Recap

Part of the recent Work Flow of the 112th Congress in the House included the Financial Services Committee's Sub Committee on Capital Markets and Government Sponsored Enterprises review of The Mutual Fund Industry entitled:

Oversight of the Mutual Fund Industry: Ensuring Market Stability and Investor Confidence.

This report provides a fairly recent opportunity to connect with Our Key Decision Makers views on the Mutual Fund Industry and Regulation and to connect with the input of Key Industry Groups and Market Participants.

We have attached a link to a copy of this report for greater awareness on Mutual Fund Regulation Oversight thinking in Congress - here below.

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House 6-24-11 Rpt on Oversight of the Mutual Fund Industry


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The Role of the Accounting Profession in Preventing Another Financial Crises - from Senate Finance Committee April 2011 Meeting

During April 2011 The Senate Finance Committee met to consider the Role of the Accounting Profession in preventing another Financial Crises. Accountants play an important role in Financial Decision making and the sharing of Company Information particularly for Public Companies and Regulated Entities, but also of course through Tax basis and Regulatory Compliance reporting driven by Financials and Accounting,

For purposes of this meeting it appears that the Focus was in overview dedicated to the Public Reporting elements of Accounting Duties. While in the modern data Landscape April 2011 may seem a very long time ago for all that has since occurred, the report here is still relevant because it provides a recent look to what our Key Decision makers in the Senate Finance Committee are considering when considering the role of the Public Accountant. We are sharing this insight and the thoughtful input of major Industry Groups in Accounting that were present for the discussions for the better overall awareness of important matters from the Public Accounting Industry as considered by Our US Congress in the Senate Finance Committee. Awareness of what matters to Our Congressional Leadership is important for all CPAs and Financial Executives in considering the important task of Financial Reporting and Accounting accross the board, even if the focus here is Public Companies. We believe in supporting standards and accountability to protect the Public Trust and the understanding in the Balance of the needs of Our Government, The Public, Industry and Business all matter in Financial Reporting and Accounting for Today and the Future.

In following the below linked report you can be more currently updated to the view points of Congress on needs in the Accounting Profession. As always if the report appears with symbols or content fails to load - please refresh inside of doc. to restore text.

CHRG-112shrg67978 April 11 Senate on Accounting

DCarsonCPA.com is the practice of Dean T. Carson II, CPA we work to connect the line of Government, Industry, Business, Non Profit and Individual Accounting, Taxation, Compliance and Reporting in the interest of supporting Financial Decision Makers in Government, Industry, Business, Non Profits and Individual decision making. You can find more at http://www.dcarsoncpa.com/ or reach us at info@dcarsoncpa.com we are here to assist.

TFOG: IRS Rulemaking - A Correction to Timely Mailing as Timely Filing Eff 10-11-11 and a New IRS Rule Proposal for Penalties for Preparers under § 6695

Checking in with IRS Rule Making Today we find 2 new updates:

1. A Correction to Timely Preparing Treated as Timely Filing as originaly issued at 8-23-11 now corrected effective 10-11-2011.

2. New IRS Rule Proposal open for Comment through November 10, 2011 as Penalties for Tax Preparers under § 6695, your opportunity to productively interact with IRS Rule Making. This proposal pertains to changes to Due Diligence requirements on the Earned Income Tax Credit.

Note: In the event that the below docs should load with symbols, you can clear to text by simply entering the doc window and refreshing your browser. Some Formatting issues have been observed in the proposed rule under § 6695 so if you can't read it here - follow the header link for a clearer read.


IRS Correction to Timely Mailing Treated as Timely Filing Iss + Eff 10-11-11




IRS Proposed Rule on Penalities for Preparers under § 6695 comments due by Nov 10 2011


DCarsonCPA.com is the web presence of Dean T. Carson II, CPA your Traditional and Strategic (Advisory) CPA Services Solution. Working to better connect the line between Government, Industry, Business, Non Profit, and Individual Accounting and Finances a line with key intersections at the many points of Regulations and corresponding Accounting, Reporting or Compliance responsibilities under Tax Law, SEC and FINRA Rules, Labor and Pension Rules and much more. We work with the added skill set that comes from Analyst Path training and Investment Banking as well as General Business Experience. We are here to be a strong support to Government, Industry, Businesses, Non Profits and Individuals, on Accounting and Reporting and related Research. Learn more at www.dcarsoncpa.com or request more information at info@dcarsoncpa.com .

TFOG - Proposed Rules of Relevance to Business: IRS Retail Inventory Method and SBA Size and Integrity

TFOG - Today from Our Government of relevance to Business are 2 Proposed Rules

1. Proposed Rule Impacting IRS Retail Invetory Method - Open for Comment through 1/5/2012

2. Proposed Rule Impacting SBA Small Business Size and Integrity - Open for Comment through 11/7/2011

You can see these proposals below and to the degree that they impact your Business you can interact with them via the Rule Making Process or through your elected representation. Proposed Rules are not yet Final and are generally subject to Public Interaction and commentary in the evaluation process - if these rules impact your business - this is your last pre-implementation opportunity to interact with the rule as it impacts your Business, Non Profit or Individual Finances / Operations.

Note: You May need to refresh inside the Doc is you see symbols or format issues, doing so will restore the Text to readable format.


Proposed Rule IRS Retail Inventory Method



Proposed Rule SBA Small Business Size and Integrity


DCarsonCPA.com is here to support Government, Industry, Businesses, Non Profits and Individuals on Traditional and Strategic CPA Services on Accounting, Taxes, Advisory, Finances, Operations and more. Wide ranging knowledge and Research  in addition to hands on skills is a key part of our proposition on services. Having an ability to favorably interact with Rule Making is particularly important for Individuals, Entrepreneurs, Small and Medium Sized Businesses who may be under supported in this area - so we are looking to assist on knowledge. You can find us at http://www.dcarsoncpa.com/ or  reach us at info@dcarsoncpa.com .

DCarsonCPA.com is the web presence of Dean T. Carson II, CPA we are working SMART to support your Business, Non Profit and Individual needs and aspire to be of inspirational support and a part of the solution set of ideas for growth in the Economy.

TFOG - 3 New IRS Rules via corrections to Implementation of Form 990 + "Timely Mailing"

TFOG: Today from Our Government (Focused on Accoutning, Taxes and Compliance primarily) we have 3 New IRS Rules - they are IRS Corrections to Implementation of Form 990 Issued 10-6-11 and Effective 9-8-11 and IRS correction to Timely Mailing as Timely Filing Iss + Eff 10-6-11.

Note: If Docs should appear with any symbols, simply enter doc window and refresh to reload and clear to text.

IRS Corrections to Implementation to Form 990 Filing Iss 10-6 +Eff 9-8-11 (2 New Rules via IRS Corrections)


IRS Correction to Timely Filing Treated as Effective Filing Iss+Eff 10-6-11

DCarsonCPA.com your Solution set for Traditional and Strategic Business, Non Profit and Individual Accounting, Taxes, Compliance, Advisory and more connecting the line between Government, Industry, Businesses, Non Profits and Individuals. Find more information at http://www.dcarsoncpa.com/ or reach us at info@dcarsoncpa.com we look forward to speaking with you about your needs on services.

The US Supreme Court: SCOTUS - Major Cases at the Supreme Court 2011 - 2012 term from AP

It's important to know what's happening at the Federal Level since it all impacts Business, Non Profits and Individuals in Financial ways. The key case at the Supreme Court now is of course on Health Care. On a different but related note I considered it sometimes unfortunate the US Supreme Court has a very limited role on Public Finance (the Deficits and Debt) at the Governmental end of the spectrum (which is primarily managed between the Executive and Legislative branch by design).

My own thoughts explained now, I found this interesting resource from the AP on cases at the US Supreme Court (SCOTUS) in the current term 2011 - 2012 and wanted to share as we give a large amount of coverage to the Executive and Legislative Branch, but not enough to the Supreme Court. This issue of attempted Manadatory Health Coverage is a big one and we will probably consider it more from an Accounting, Tax, Compliance and broader perspective, but for now please take a moment if you like, to catch up on important work at the US Supreme Court (*):

U.S. Supreme Court: Major cases in the current term 2011-2012  a look from the AP.


(*) And for those who have already been there and done that we appreciate your following with us and your acknowledgement that we find it all very important and interesting and certainly relevant to Business, Non Profit and Individual Finances and more.

DCarsonCPA.com - connecting the line of Government, Industry, Business, Non Profit and Individual Accounting, Taxes, Finance, Regulations, Compliance, Taxation and more - it's a comprehensive view on the impact points on Finance and Quality of Life. We are here for you on Traditional and Strategic CPA Services, Analysis, Research and more. Find us at www.dcarsoncpa.com or reach us at info@dcarsoncpa.com

FINRA Small Firms Information - A Resource for Firms With 150 or Fewer Reps

Part of Our Intention is to support SEC and FINRA Registered Firms with your needs for Accounting, Operations Consulting, and Compliance, either directly (where sponsored) or through partnerships. A key part of that Begins with our ability to connect with key knowledge of Federal, State and Local Regulatory and SRO Resources. In the same way Accounting is portable skill set, so is the art of Compliance once you have it in context of the Regulatory Framework for Compliance. Accounting, Taxes, Operations and Compliance represent broad areas of practice, but the real key is working smart with resources to find your authoritative framework and then to design and implement Operations, Control and Oversight procedures that meet the targeted objective of Compliance wether you are considering Tax Law, Employment Law,  ERISA / Pension Laws or other matters. The importance is to connect with the right resources to support the area you need for services.

In the realm of Entities including FINRA SROs for Small Firms with less than 150 Registered Representatives a good starting resource can be:

Small Firms Information at FINRA

Note: Series Licenses apply to certain elements of working with Broker-Dealers and FINRA member firms, in the same way that PCAOB registration would be required for Broker-Dealer Audits. Our Intention is to work in the positions where we are able to do so with member firms on the advisory / consulting end where currently acceptable and registrations are not required and we are also open to work with you where registration is required if you provide sponsorship. Where registrations are not currently required (please confirm with your coordinator and we will also clear with FINRA and the SEC) and over time to pursue PCAOB Registration if approached for Broker-Dealer Audits.

In every occurence our prior Experience on FINOP reporting, with Operations, Operational Audits, Controls, SEC Audits and FINRA Audits from the Controlling End will add value to Our Clients as will also our Proven Accounting, Financial and Management Reporting, Net Capital Reporting Analysis, Taxation,  Operations skills and ability to connet with SEC and FINRA rules at the source along with Financial Rules like AML, KYC and more.

 We support Clients through knowledge of Accounting, Finance, Taxes, Operations, Controls, Regulations, Financial Services expertise and smart skills with Research. Quickbooks and other Accounting Systems and  Business Analysis skills are a given. DCarsonCPA.com is here to support Financial Services and General Business, Non Profits and Individuals find us at www.dcarsoncpa.com and reach out to us at info@dcarsoncpa.com