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This Week in the SmartPros News & Insights Newsletter
| Mortgage Market Poised For Big Test ...Ketz: Regulating the Avarice of Bankers ... Protecting Your Data |

Bernanke Confirmed as U.S. Federal Reserve Chairman for Second Term
| Federal Reserve Chairman Ben Bernanke Thursday won the Senate confirmation for a second four- year term as head of the U.S. central bank. |

Tax Tip -- Four Filing Facts for Recently Married or Divorced Taxpayers
| If you were married or divorced recently, there are a couple of things you'll want to do to ensure the name on your tax return matches the name registered with the Social Security Administration. |

Don't Overlook Important Tax Credit
| In the current economy, every penny counts -- and so does a tax credit worth up to $5,657. |

Gov't Readies Changes to Mortgage Relief Plan
| The Treasury Department on Thursday plans to unveil changes designed to streamline burdensome paperwork required for its foreclosure relief plan, according to people briefed on the matter. |

Geithner, Paulson and Fed Defend Controversial AIG Payments
| Treasury Secretary Timothy Geithner told a hostile congressional committee Wednesday that the only way to rescue the insurance giant American International Group in 2008 was to pay U.S. and foreign banks the full face value of $62 billion in bets on risky securities. |

SEC Tightens Rules on Money Market Fund Holdings
| In an attempt to head off future financial meltdowns, the Securities and Exchange Commission on Wednesday tightened rules for money market mutual funds. |

Mortgage Market Poised For a Big Test
| The U.S. government's plan to wind down help for the troubled housing market is a big stakes gamble whose time has come, a Treasury Department official said. |

Bernanke Faces US Senate Opposition for 2nd Term
| Federal Reserve Chairman Ben Bernanke faced mounting Senate opposition for another four-year term Friday as the White House worked aggressively to keep his nomination alive. |

White House Applauds GM Plan to Repay Federal Loans by June 30
| The Obama administration hailed General Motors' move Monday to lock in a $5.7 billion repayment of a government loan for June - even though GM was already required to pay back the loan with money from the government. |

Campaign Spending Decision Blasted
| The U.S. Supreme Court swept aside decades of prior law and court precedent Thursday in a ruling that will permit corporations and labor unions to spend their general treasury funds campaigning for and against candidates for political office. |

How to Steer Clear of Having Your Business Audited
| Small business owners, perhaps the busiest people in America, juggle multiple tasks to keep their businesses up and running. Yet they may have another worry looming on the horizon -- an IRS Audit. |

Laid-Off Workers Get IRS Help on Health Insurance
| Thousands of Ohioans whose jobs moved overseas might be eligible to have the federal government pay 80 percent of their health insurance. |

NY Fed President Backs Independent Central Bank
| The head of the Federal Reserve Bank of New York said Wednesday that the nation's central bank must be allowed to operate independently and free of increased oversight by Congress. |

IRS Revising Notices to Ease Communication Headaches
| Taxpayers receiving letters from the Internal Revenue Service might be able to understand them better this year. |

New Regulations Get Tough - Next Year - on Paid Tax Preparers
| New regulations would not be in effect for this filing season, but would eventually require paid tax preparers to meet continuing education requirements, pass competency tests and register with the government. Preparers would also have to adhere to ethical standards. |

IPSASB Publishes Three New Standards on Financial Instruments
| The International Public Sector Accounting Standards Board (IPSASB) has published three new standards that cover all aspects of the accounting for and disclosure of financial instruments: International Public Sector Accounting Standard (IPSAS) 28, Financial Instruments: Presentation; IPSAS 29, Financial Instruments: Recognition and Measurement; and IPSAS 30, Financial Instruments: Disclosures. They fill a significant gap in the IPSASB literature. |

IASC Foundation Publishes Free Training Material for IFRS for SMEs
| The International Accounting Standards Committee Foundation (IASC Foundation) today published the first part of its comprehensive set of training materials for the IFRS for SMEs. |

IAASB Staff Issues Q&As to Raise Awareness of XBRL Uses in Business Reporting
| Recognizing the growing international use of Extensible Business Reporting Language (XBRL) - a language for the electronic communication of business and financial data that is changing business reporting around the world - the staff of the International Auditing and Assurance Standards Board (IAASB) has developed a new question-and-answer publication. |

IFAC Survey Shows Accountants as Advocates for Small Business and Global Standards
| As world economies recover from the global financial crisis, the Third Annual Global Leadership Survey of the International Federation of Accountants (IFAC) revealed its membership as vocal advocates for small and midsize businesses, as well as for the adoption of global accounting and auditing standards. |

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