Posts Tagged ‘Filing’

Business workshop: The future of tax filing

August 12th, 2013

A committee of accountants, tax preparers, attorneys and other tax professionals is recommending that the federal government implement standards of security, privacy and fraud protection for the electronic filing of taxes by individuals and businesses.

The recommendation came in this year’s annual report by the Electronic Tax Administration Advisory Committee. The committee’s mission is to file an annual report detailing the progress the Internal Revenue Service is making to meet the Restructuring and Reform Act of 1998 goals for electronic filing of tax and information returns.

Besides requesting approval of a standard for security and privacy, this year’s report recommends that the IRS provide incentives for the public to e-file, and expand access to tax data and online tools to help in tax preparation. The report also calls for expanding partnerships between the IRS and tax software developers and tax preparation companies to simplify online tax compliance.

The report also asks Congress to approve funding to complete the implementation of software to improve and simplify the process of filing taxes electronically.

The 15-member advisory committee, composed of tax professionals appointed by the Internal Revenue Service for three-year terms, says it wants paperless filing to be the preferred and most-convenient method of filing tax and information returns (the goal is for a minimum of 80 percent of all individuals and businesses to file taxes online).


Saba Software To Miss Filing Deadline Due To Accounting Review

April 10th, 2012

Saba Software Inc. (SABA) said it won’t meet Monday’s deadline for filing its quarterly report as it conducts an accounting review of past results.

Shares fell 4.3% in recent premarket trading to $9.51. The stock is up 26% so far this year.

Saba’s audit committee has engaged counsel to assist in an independent accounting review of prior period results. But the company said it hasn’t identified any circumstances requiring restating results.

The workplace management software provider previously said it was reviewing the accounting treatment of some international transactions, but it didn’t elaborate on the nature of those transactions.

The company said it expects to regain compliance by filing its quarterly report before Nasdaq OMX Group Inc.’s (NDAQ) 60-day exception period expires.

Saba expects to report a fiscal third-quarter loss of 4 cents a share on revenue of $32 million for the quarter ended Feb. 29. Analysts polled by Thomson Reuters recently predicted a loss of 4 cents a share on revenue of $33 million.

Results will be reported after the audit committee completes its review.

The company has been expanding in the software-as-a-service sector and vying for market share in an increasingly competitive environment for such products, which are usually offered as subscriptions.


Municipal corporations to instal software for impact fee filing

March 1st, 2012

A special software for simplifying the process of filling forms and submissions for regularizing illegal properties will be introduced across municipal corporations in the state within a week.

The software will be provided by the urban development department for easing the complex procedures that are involved in the legalizing process.

In the next few days the Ahmedabad Municipal Corporation (AMC) will be issuing notices to owners who have built irregular structures. An awareness drive will be conducted across various civic centres of the AMC, introducing the public to the new impact fee law.

A special interface will be created on the website of AMC explaining the three-layered procedures for submission of forms. Citizens can also track the status of their files on-line and even post an application seeking explanation to the delay caused in processing their files.


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