With the current economic climate presenting challenges to big and small business alike, it seems that everyone is looking for ways to improve their bottom line. Traditionally, this was done by increasing revenues or decreasing expenses. The Federal Reserve System (the “Fed”) has chosen a different method: changing it’s accounting rules. Perhaps it’s just a [...]

The National Taxpayer Advocate (NTA) Nina Olson recently released the NTA’s 2010 Annual Report to Congress. According to the NTA’s report on 21 of the most serious problems encountered by taxpayers, the #1 problem is the complexity of the Internal Revenue Code. While it may not be rocket science, complying with tax rules and Uncle [...]