FICPA: Top Stories

House Passes Health Care Reform Bill

Washington (CNN) -- The House of Representatives on Saturday night passed a sweeping health care bill by a vote of 220-215. With the passage of H.R. 3962, the Affordable Health Care for America Act, proponents of health care reform took an important step forward, but turning the bill into law remains uncertain.

Attorney General Asks Court to Clarify Florida Tax Issue

TALLAHASSEE, FL � Attorney General Bill McCollum today announced that his office has sued Expedia, Inc., Orbitz, LLC, and Orbitz, Inc., the leading internet travel companies, asking for a declaratory judgment that the companies� failure to remit the appropriate amount of taxes on hotel room rentals is a violation of Florida law. The lawsuit states that while the companies have been collecting these taxes from consumers all along, they have only been remitting a portion of the taxes owed to taxing authorities, keeping the rest as profit. This practice allegedly denies the State millions of dollars every year in tax revenue � money that could be used for the benefit of the public.

Preparing for the Next Opportunity

Robert R. Harris takes a large view of the profession. He believes the economic crisis, global convergence of standards, a worldwide concern about the depletion of nonrenewable natural resources, and generational changes all present unprecedented opportunities for CPAs.

AICPA Welcomes Federal Trade Commission's Delay of Implementation of 'Red Flags' Identity Theft Rule

FTC Extends Enforcement Deadline for Identity Theft Red Flags Rule

At the request of Members of Congress, the Federal Trade Commission is delaying enforcement of the �Red Flags� Rule until June 1, 2010, for financial institutions and creditors subject to enforcement by the FTC. The Rule was promulgated under the Fair and Accurate Credit Transactions Act, in which Congress directed the Commission and other agencies to develop regulations requiring �creditors� and �financial institutions� to address the risk of identity theft. The resulting Red Flags Rule requires all such entities that have �covered accounts� to develop and implement written identity theft prevention programs to help identify, detect, and respond to patterns, practices, or specific activities � known as �red flags� � that could indicate identity theft.

Q&A with Bob Harris: Focusing on the Crisis - and Beyond (Unabridged)

Nobody elected chair of the American Institute of CPAs gets to pick their agenda. Robert Harris, who was sworn in as chairman just weeks ago at the AICPA Fall Council meeting in Las Vegas, was, however, well aware of the challenges ahead.

Solution Sought to Tax Feud Between Florida Cities, Travel Web Sites

State CFO Alex Sink is pressing for a resolution to a tax dispute between online hotel booking companies and Florida municipalities. TALLAHASSEE -- The big-money battle between Florida counties and online hotel booking companies reached the apex of state government Tuesday, but there's still no solution in sight. Only Chief Financial Officer Alex Sink expressed an urgency to resolve the long-running dispute. For nearly a decade, online bookers such as Orbitz, Priceline and Expedia have successfully mined the Florida tourism market, buying blocks of hotel rooms and marking up the cost to consumers. But the booking firms pay sales and local tourism taxes on the wholesale price of the room, not the full price charged to consumers.

House Democrats Prepare to Unveil Health Bill

WASHINGTON -- House Democrats reached agreement Wednesday on key elements of a health care bill that would vastly alter America's medical landscape, requiring virtually universal sign-ups and offering a new government-run insurance option for millions. House Speaker Nancy Pelosi was planning a formal announcement Thursday morning, contingent on the outcome of a meeting of House leaders Wednesday afternoon, according to lawmakers and aides. Officials said the legislation could be up for a vote on the House floor next week.

President Obama Declares H1N1 a National Emergency

President Barack Obama has declared the swine flu, or H1N1, a national emergency. According to the White House, the president made the declaration Sunday to address the ongoing H1N1 flu pandemic by giving healthcare organizations the ability to react more rapidly to the spread of the virus. Experts expect the H1N1 flu to move rapidly throughout the country, and a majority of states now have widespread influenza activity, the White House said.

Melancon: Issues Facing CPAs Include Globalization, Economic Recovery

AICPA President and CEO Barry Melancon, speaking at the fall meeting of the Institute�s governing Council in Las Vegas on Monday, gave an update on the impact of globalization on the profession, the AICPA�s ongoing efforts to support members and the public during the economic downturn and recovery, and on new technology efforts on the horizon.