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6/25/2013 The Mobile Workforce State Income Tax Simplification Act of 2013 – H.R. 1129 The Tax Return Due Date Simplification and Modernization Act of 2013 - S. 420 and H.R. 901 The Mobile Workforce State Income Tax Simplification Act of 2013 – H.R. 1129 The Tax Return Due Date Simplification and Modernization Act of 2013 - S. 420 and H.R. 901 Representative Phil Gingrey [GA-11] introduces H.R. 476 – The GAAP Act 2
6/25/2013 Representative Phil Gingrey [GA-11] introduces H.R. 476 – The GAAP Act Amends the Congressional Budget Act of 1974 to require the alternative levels of total revenues, total new budget authority, and total outlays (including related surpluses and deficits) covered by the annual Congressional Budget Office (CBO) fiscal policy report to the congressional budget committees on the upcoming fiscal year to be prepared using both cash basis accounting and generally accepted accounting principles. The Mobile Workforce State Income Tax Simplification Act of 2013 – H.R. 1129 The Tax Return Due Date Simplification and Modernization Act of 2013 - S. 420 and H.R. 901 Representative Phil Gingrey [GA-11] introduces H.R. 476 – The GAAP Act OH YEAH…all that pesky IRS stuff… 3
6/25/2013 Congressional Caucus on CPAs & Accountants HOUSE: Patrick Murphy, D-Fla. Tom Rice, R-S.C. John Campbell, R-Calif. K. Michael Conaway, R-Texas Bill Flores, R-Texas Lynn Jenkins, R-Kan. Steven Palazzo, R-Miss. Collin Peterson, D-Minn. Jim Renacci, R-Ohio Brad Sherman, D-Calif. SENATE: Mike Enzi, R-Wyo. Ron Johnson, R-Wis., What is a Patent Troll? A firm whose main objective is to extract licensing fees from other companies Also known as: Patent Assertion Entity In 2011, Apple and Google spent more money on patent litigation and defensive patent acquisitions than on research and development Obama introduced a proposal to crack down on so- called patent trolls “designed to protect innovators from frivolous litigation and ensure the highest-quality patents in our system” Five executive actions Seven legislative recommendations 4
6/25/2013 LEGISLATIVE RECOMMENDATIONS Require patentees and applicants to disclose the “Real Party-in-Interest ” Permit more discretion in awarding fees to prevailing parties in patent cases Expand the PTO’s transitional program Protect off-the-shelf use by consumers and businesses Change the ITC standard for obtaining an injunction Use demand letter transparency to help curb abusive suits Ensure the ITC has adequate flexibility in hiring qualified Administrative Law Judges EXECUTIVE ACTIONS Making “Real Party-in-Interest” the New Default Tightening Functional Claiming Empowering Downstream Users Expanding Dedicated Outreach and Study Strengthen Enforcement Process of Exclusion Orders http://www.whitehouse.gov/the-press-office/2013/06/04/fact-sheet-white- house-task-force-high-tech-patent-issues 5
6/25/2013 The GSCPA Story 6
6/25/2013 19 19 19 20 20 20 Illegal Immigration Reform & Enforcement Act: HB 87 State Tax Tribunal: HB 100 Create the “Director of Professional Licensing”: Senate Bill 445 House Bill 291 – State Board Issues 7
6/25/2013 37% $100B 75% Phishing attacks Cyber breaches 75% of malware were up 37% in cost US programs 2011 businesses $100 silently steal billion in 2011 information We must educate members on best practices Georgia Department of Revenue is dealing with data related fraud issues Convert data sources into actionable business insights “Analytics arms race” Not enough to increase data availability Capacity to evaluate data & apply good judgment CFO/adviser’s strategic role 8
6/25/2013 By David Bergstein, Intelligent Solutions Wrist watches Paperback books Instruction manuals Greeting cards Car keys Tollbooth agents Maps Credit cards Checkbooks Retail coupons Cash David Pearce Snyder Strategic Forecaster & Keynote Speaker at SEAS 2012 9
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