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Andrew Presti

UC tuition to rise 8% for next year

Regents vote 15 to 5 for the increase, meaning undergrads will face $12,150 per year in tuition. The move meets little outcry. Financial aid also is expanded. The basic cost of an undergraduate education at the University of California will rise 8%, or $822, next school year after a regents vote Thursday, although officials said […]

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Andrew Presti

Fed to require stress tests of big banks

The Federal Reserve will require big banks to undergo a new round of stress tests — this time, to determine if they are sound enough to begin raising their stock dividends. Click here for full article!

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Andrew Presti

FASB Clarifies Troubled Debt Restructuring

The standard setter releases new proposed accounting guidance to better define what is – and is not – a troubled debt restructuring. Last month the Financial Accounting Standards Board issued a proposed guidance related to troubled debt restructuring that included several important clarifications for both debtors and creditors. The proposed accounting standards update (ASU), Clarifications […]

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Andrew Presti

What Every Tax Return Preparer Needs to Know about Applying for a PTIN

New regulations require all paid tax return preparers to apply for a Preparer Tax Identification Number — even those who already have one — before preparing any federal tax returns in 2011. The PTIN requirement is one of the first provisions being implemented in a new oversight program to help regulate the tax preparation industry. […]

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Andrew Presti

Senate Finance Expected to Consider Tax-Exempt Qualifications Next Year

The Senate Finance Committee will be looking at some of the qualifications for tax-exempt status when the 112th Congress convenes in January, Patricia Read, senior vice president at Independent Sector, said Nov. 9. “The definitions about who and what should be exempt from taxation, who and what should be eligible to receive tax deductible contributions, […]

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