VITA – Volunteer Income Tax Assistance Training

Join members of the American Society of Women Accountants and the Institute of Management Accountants as we train for a great volunteer opportunity.  This one day training is designed to get those familiar with tax law prepared to take and pass the VITA Certification Exams. Certification is required each year for VITA volunteers to assist taxpayers.  

VITA – Volunteer Income Tax Assistance Training (Tax Preparer Refresher Course*)

Date:    Saturday, January 7, 2012

Time:    8:30 am – up to 4 pm (Continental Breakfast and Lunch provided)

Location:  DeVry University-Phoenix Campus

                      2149 West Dunlap Ave. Phoenix, AZ  85021 Room 201    

                     (602-617-1904 – for questions on 1/7/12)

Filing Taxes Never Felt so Good!  Tax time is stressful for everyone – especially low-income Arizonans and others who lack the skills or resources needed to get proper tax assistance.  But you can help!   As a Volunteer Income Tax Assistance (VITA) provider you work hands-on with families to help them receive the tax benefits they need to improve their lives.

Trainer Jerry Bordeleau, former IRS Agent/Trainer will provide you with free tax training to prepare basic and intermediate tax returns.  Up to 3 hours of CPE.

*Attendees should have knowledge of IRS Tax Laws to complete this class

Register for Free VITA Training at:  http://devryvita2012-autohome.eventbrite.com/

Co-Hosted by DeVry University, ASWA and IMA VOTS Further Questions:  Contact Joyce Barden, Senior Professor, DeVry/Keller at 602-749-4576 office or jbarden@devry.edu.

Check with the United Way or your city for volunteer opportunities this tax season. Together we can help our neighbors get the credits they deserve.

November Membership Meeting Reminder

Don’t miss the ASWA Mesa East Valley Chapter November membership meeting on Tuesday November 22nd. The evening will include networking, dinner and a session on Staying Positive in Trying Times presented by Kirk Wilkinson. Many of our members, friends and family have been impacted by economic challenges for an extended period. Get a positive perspective before the holiday season and start off your new year with optimism.

Visit our chapter website at www.aswa-mev.org for more information and to RSVP to our Membership Director Shelby Williams.

Reminder: Accounting students are encouraged to apply for the ASWA Mesa East Valley Chapter scholarship. Applications are also available at our chapter website and are due in December.

Unclaimed Property Reporting

Is your company holding on to someone else’s money? Businesses must follow the Unclaimed Property reporting requirements to report and remit unclaimed property (ex: uncashed checks) to the state each year. The State of Arizona’s Unclaimed Property division has some great resources to help your company stay in compliance. Visit www.azunclaimed.gov for more information.

Building a comprehensive Unclaimed Property Program

It’s important that your company has an effective method of reporting unclaimed property in order to comply with the law.  There are other benefits, however, to creating companywide awareness of the unclaimed property requirements.  Creating policies and uniform procedures helps you to deliver excellent service by reuniting your customers with their property more effectively.   In addition these procedures will enhance your own internal controls which are important to protect both unclaimed property and your company.  It’s important to remember that unclaimed property has a higher risk of embezzlement or fraud because the owners are not present. 

 To create a comprehensive unclaimed property procedure we suggest:

1. Identify and include all necessary departments
2. Include key players such as accounting and payroll personnel
3. Research your companies reporting requirements in the Reporting Requirements section of our website and the Arizona Revised Statutes
4. Define responsibilities and roles
5. Determine what tools your company will need to collect information, produce due diligence letters and your final reports
6. Identify the employees who will be accountable for unclaimed property compliance
1. Due diligence letters must be sent to owners at least 120 days before the property is reported to the State of Arizona Department of Revenue
2. Decide when reportable property should be transferred to an unclaimed property account
3. Unclaimed Property must be reported by November 1st of each year and Insurance reports are due May 1st of each year
7. Develop a timeline:       

 

To put your program in place we suggest that you:

1. Initiate a companywide training program to educate and  introduce your employees to their roles and responsibilities
2. Review your companies reporting history to determine if a special audit is needed in order to become compliant with the current reporting requirements
3. Maintain your reporting records for at least five years from the filing date

 

Having a good system in place is an important factor if you are ever audited by the State’s Unclaimed Property division.

Student Night Reminder

Don’t miss the ASWA Mesa East Valley Chapter October membership meeting and student night on Tuesday October 25th. This is a great opportunity for accounting students to meet accounting and finance professionals.

The evening will include networking, dinner and a session on Staying Competitive in the Workplace by Nina Cormier.  With the economic changes in recent years, all professionals (new – experienced) need to know how to take charge of their careers.

Visit our chapter website at www.aswa-mev.org for more information and to RSVP to our Membership Director Shelby Williams.

Accounting students are also encouraged to apply for the ASWA Mesa East Valley Chapter scholarship. Applications are also available at our chapter website and are due in December.

Race for the Cure – Number Crunchers Team

Join members of the ASWA Mesa East Valley Chapter Sunday October 9th for the Race for the Cure. There is still time to join the team as a walker, sleep in for the cause or donate to support our team. This is one of the many community service projects our chapter members participate in during the year.

http://phoenix.info-komen.org/site/TR/RacefortheCure/PHX_PhoenixAffiliate?px=2676144&pg=personal&fr_id=2166

October 25th Membership Meeting & Student Night

Join ASWA Mesa East Valley Chapter members for our October membership meeting and student night on Tuesday October 25th. The evening will include networking, dinner and a session on Staying Competitive in the Workplace by Nina Cormier. Visit our chapter website at www.aswa-mev.org for more information and to RSVP to our Membership Director Shelby Williams. Accounting students are also encouraged to apply for the ASWA Mesa East Valley Chapter scholarship. Applications are also available at our chapter website and are due in December.

Upcoming IRS Events

National/Local Phone Forums and Webinars for Practitioners

     • No events scheduled

Arizona Practitioner Liaison Meetings and Seminars

Coming soon:

     • Employment Tax Arizona Seminars – October 6, Flagstaff – October 11, Glendale – October 13, Mesa – October 18, Tucson – October 20, Yuma

     • Tax Talk Arizona Seminars – December 6, East Valley/Phoenix – December 12, Prescott – December 14, Glendale – December 16, Tucson

TEGE

• Current Developments and Issues from the office of Employee Plans Rulings and Agreements– September 21, 2011

• Employee Plans – Participant Loans – September 12, 2011

Arizona Workshops for Small Business Owners Please share this link with your small business clients. The workshops provide detailed instructional lessons that cover their tax filing, paying and operating requirements and responsibilities.

If you would like additional information, you can subscribe to an IRS e-Subscription by going to the Subscription page on IRS.gov.

 

ASWA Mesa East Valley Chapter September Meeting

ASWA Phoenix – Mesa East Valley Chapter Joint Meeting

Thursday September 15, 2011

Practical Considerations for Non-Profit Board Members- 2 CPE

Speaker: Brenda Blunt

One of the best ways to give back to the community, as well as expand your personal and professional network, is to serve on the board of a not-for-profit organization whose mission care about.  The sad truth is there is a chronic shortage of knowledgeable, engaged people willing to provide guidance and governance to the thousands of not-for-profit organizations who are the binding of our community.  Of those who do serve on boards, many are not certain about their role or what questions to ask.  Whether you have years of experience as a not-for-profit board member or are just thinking of moving into that role, Brenda Blunt will be leveraging her 25 years of experience working with not-for-profit organizations in the Valley and across the country to bring you some practical things you should know about serving on a not-for-profit board.

Location:  Arizona Country Club 5668 E. Orange Blossom Lane Phoenix, AZ 85018

5:00 PM Networking
5:30 PM Technical Presentation – 1 CPE
6:30 PM Dinner & Membership Meeting
7:30 PM Technical Presentation – 1 CPE

 

RSVP by emailing Nora Martinez at  mailto:nora.martinez@remx.com

Reservation deadline is Monday September 12, 2011 at 10:00 AM. Out of respect for members and the Country Club please respect this deadline. Please let us know if you would like a Vegetarian Meal when you make your reservation.

 

Kathleen Moren

President

ASWA-Phx Chapter

http://www.aswa-phx.org

July 2011 CPE Wrap Up

By Sherri Fieber

If you attended our July 2011 monthly meeting then you know that we had two great hours of CPE learning. The first hour was entitled, “Sales Tax Audits,” and the speaker was Phil Falcosky, who is an Audit Supervisor with the City of Tempe. The second hour was “Economic Update” and the presenter was Deeann Griebel.

Phil started out with an overview of the Streamline Sales Tax Project (SSTP) that is attempting to get consistency throughout the 50 states on how sales tax is levied. Some of the larger corporations like Wal-Mart are backing this project, but the task is daunting and it isn’t clear at this point if it can be accomplished. Phil explained that in Arizona we don’t actually have a “sales tax” (which taxes the buyer); instead, we have a transaction privilege tax (which taxes the seller/vendor). This difference, which is shared by a few other states, will make the SSTP even more difficult.

Phil gave us some legislative background on AZ transaction privilege tax (“TPT”), and discussed the 1987 Model City Tax Code that cities and townships throughout AZ must comply with when creating their individual TPT tax codes. In order to deviate from the Model City Code, a city or township must get approval from the Municipal Administration Body. However, even though we have the Model City Tax Code, there are lots of differences between how each local government levies TPT.

Phil finished with discussing the TPT audit process, and gave good information regarding what can trigger an audit, what choices can be made about an audit (multi-jurisdictional or not), and what to expect during an audit. He also discussed what you can do to limit your audit exposure and he provided handouts with information and resources to obtain any additional information needed.

After a delicious meal, we came to the second part of our two-part CPE for the evening. As usual, Deeann was a bevy of information! Since our meeting came just a few days before the US Government was set to default due to inaction by Congress, Deeann spent a great deal of time discussing the Federal debt issue. Deeann provided great background information regarding the debt and budgets that were proposed and President Obama’s committee findings, as well as economic viewpoints. She also discussed some rather dismal outlooks that have been purported by a European “think tank.” Deeann engaged her audience by rewarding those who asked thought-provoking questions with $2 bills; I, myself, won three of those $2 bills!

After Deeann had scared us to death (LOL) with the debt crisis, she went on to discuss municipality problems. Again, giving excellent background data regarding how municipalities began in the “bond business”, if you will, and how they started with immaculate credit and yet many have ended up broke, in debt, and failing.

Deeann wrapped up by giving advice regarding what people should start prioritizing in these seemingly dark economic times; not just in a financial sense of “adding gold” to your portfolio, but also things like taking heed of your health.

If you missed this meeting, you missed a lot of good information! Don’t miss our next meeting on Tuesday, August 23rd, when our topic will be “Financial & Estate Planning Basics.”

2011 Seminar – Thank You!

The ASWA Mesa East Valley Chapter hosted the 5th Annual Empowering Today’s Accountant Seminar last weekend. We had a great turnout for this year’s event. I hope all our attendees enjoyed the CPE and networking opportunities. This event was made possible by the support of our seminar sponsors Casino Arizona and Talking Stick Resort, Henry & Horne, Jobing.com, Outwest Publishing and Self Wealth Management. Our agenda included a mix of technical and professional development topics presented by our speakers Garret Tripp, Karina Rivera, Marcy Maslov, George Lopez, Gary Ringle, Bob Minniti, Kelly White, Margaret Jacoby, Rozanne Hird and Mark Eberle. Thank you for sharing your time and expertise with our seminar attendees. The IMA AZ Valley of the Sun Chapter cosponsored this year’s event and we appreciate the increased participation of IMA members. Check back for information on next year’s events and our monthly meetings. Our chapter website www.aswa-mev.org has current information on educational and networking events.