Anthony Citrolo Elected Executive Vice President & Director of The Long Island Chapter Of The Accountant/Attorney Networking Group Inc. (AANG)

It has been announced today that, Anthony Citrolo, CPA, CVA, CMAA, CBI has been elected as the 2012 Executive Vice President and Director of the Long Island Chapter of the Accountant/Attorneys Networking Group Inc. (AANG)

The Accountant/Attorney Networking Group is comprised solely of practicing accountants and practicing attorneys who service multiple clients. The purpose of the group is to facilitate networking between and among attorneys and accountants – two professions that have enormous synergy and potential for cross referrals. AANG offers 12 monthly networking breakfast meetings exclusively for accountants and attorneys. AANG also hosts two major networking cocktail receptions open to all professionals. The organizations’ web site is

According to Mr. Citrolo a Managing Partner of M&A firm NYBB/Reliance Strategies, “the AANG creates a great platform for Accountants and Attorneys to meet and share information and ideas that can be used to bring cutting edge financial and legal solution to business owners or entrepreneurs engaged in a business sale or acquisition. Further Mr. Citrolo adds, “since Accountants and Attorneys are key players of the deal team that representbusiness buyers and sellers, the coordination of their efforts can result in lowering the fees incurred in the transaction and giving the deal the best chance of being consummated.”

About NYBB/Reliance

NYBB/Reliance Strategies is a full-service Merger & Acquisition firm in Melville, New York assisting companies with up to $50M in revenue to develop an exit strategy or make a targeted acquisition. In addition to M&A and consulting services, NYBB/Reliance offers valuation services in determining both Business and Transaction Values. Anthony can be reached at 631.390.9650 or

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1099 Preparation Software targeting 2011 Tax Forms Released by WorldSharp for $89

WorldSharp Technologies, Inc. today announced the availability of the 2011 version of the WorldSharp 1099 Preparation System. It is shipping with the new form changes and the IRS electronic reporting and correction specifications for 2011. Forms and corrections for past years all the way back to 1995 may also be processed.

The system now has even easier importing capabilities. When ordered, the software can be downloaded or shipped on CD. Items can be entered using two different modes of data entry or the data can be imported from files of other computer applications or spreadsheets. The WorldSharp customer support staff is available to help customers import their data and electronically file their returns. WorldSharp also provides the optional service to print, mail and e-file for their customers.

Printing can be on pre-printed forms or blank paper. The system can print the form with the data and e-file, so there is no need to purchase forms. The system prints and electronically reports 1098, 1098-C, 1098-E, 1098-T, 1099-A, 1099-B, 1099-C, 1099-CAP, 1099-DIV, 1099-G, 1099-H, 1099-INT, 1099-LTC, 1099-MISC, 1099-OID, 1099-PATR, 1099-R, 1099-S, 1099-SA, 3921, 3922, 5498, 5498-ESA, 5498-SA, W-2G and optionally 1042-S forms.

Bobby Anderson, president of WorldSharp Technologies said that in the past, the system has been primarily used by banks and financial institutions, which is WorldSharp’s main marketing focus. However, in order to make the quality software package available to small businesses and companies in other industries, WorldSharp lowered the price from $500 to $89.95. A 2-license version is $159.95 and a 10-license version is $249.95. Many vendors charge extra for electronic reporting. So, WorldSharp decided to provide its Premium Package which includes all of the forms (except 1042-S) and electronic reporting without additional charges. A system which includes 1042-S support is available for $189.95.

Unlike other systems, the WorldSharp 1099 Preparation System allows users to process any kind of 1099 form and has no restrictions on the number of forms processed or the number of companies processed.

For additional information about the 2011 version of the WorldSharp 1099 Preparation System, contact customer support at (575) 445-2504 or visit Inquires may also be addressed to

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CPA Site Solutions Found Success with Innovative Methods for Email Marketing System Rebuild

CPA Site Solutions, a provider of CPA websites for accountants, announced they recently redeveloped their proprietary Email Marketing System using new architecture, methodology, and coding standards.

CodeIgniter Cut Down on Time Spent Coding

The niche web developer opted to use CodeIgniter for the system’s architecture.

“We evaluated several frameworks for PHP web application development. Many of them could have worked, but they really tried to lock you in to their way of doing things,” explains Bob Rayl, Chief Technology Officer at CPA Site Solutions. “They did not offer the flexibility we need to accomplish some of the heavily proprietary functionality we bundle into our systems.”

CodeIgniter is an Application Development Framework for PHP developers. It provides a rich set of libraries for commonly needed tasks. CodeIgniter considerably trimmed the hours developers spent writing tedious code. And because the code comes secured and optimized out of the box, the team saved additional time and resources on those tasks.

The team chose NetBeans, an integrated development environment (IDE), for their new interface.

Localized Server Streamlined Testing and QA

The tech team at CPA Site Solutions chose to use a localized server for code development and testing on which they could “step-through” their code line by line as it was running on an isolated test environment. This enabled them to catch bugs early in the development cycle, resulting in less end-of-development quality assurance.

The team could also access a step-by-step history of the code, quickly leading them to the cause of any new bugs. And with a roll-back function in place, they could return to a previous working version if problematic code reached the production environment.

Finally, the localized server allowed multiple developers to work on the same project without having to trade entire copies of the code. Each developer simply located the latest version from the server to be in sync with other team members. They could also test small bits of code on their own working area of the server, so their testing and QA didn’t slow down the rest of the team.

New Coding Practices Increased Team Efficiency

For the application rebuild, CPA Site Solutions wrote object-oriented, reusable code that extends the basic functionality of CodeIgniter. They also wrote libraries that sit in a separate website but deliver programmatic data to their CodeIgniter applications. For example, getting a firm’s domain information will never need to be written into any given application again; it’s now served via a service the team created and centralized.

About CPA Site Solutions

CPA Site Solutions ( provides websites for more than 5,000 CPA and Accounting firms. They offer personalized websites, a dedicated webmaster, a secure client portal, a client newsletter, secure email accounts, search engine optimization, and 109 additional website features designed specifically for Accountants.

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UK Tax Investigations On The Increase

HM Revenue & Customs (HMRC) is under huge pressure to increase tax receipts and reduce tax leakage. As a result, HMRC has a growing appetite for launching investigations where it considers there is a reasonable possibility of collecting under-declared tax.

Intensive bursts of compliance activity are targeting business sectors considered to be high risk, and HMRC is sharing information internally more effectively than ever before, thus increasing its chances of identifying potential anomalies in taxpayers’ affairs. “The tax authority has created dedicated common interest teams, such as a unit focused on high net worth individuals and offices which deal exclusively with large businesses,” explains Valerie Watson, Moore Stephens tax partner who has assisted many clients on tax investigations. “Non-domiciled individuals taxed on the remittance basis are now handled by one tax district, again enabling easier cross-referencing and sharing of information.”

Tax inspectors may also be making use of new media, such as the internet, to identify individuals with valuable assets (such as holiday properties that are being let out for income) or undeclared profits (for example, from trading through internet auction sites).

New information sharing agreements between national tax authorities are also having an impact. Following the Tax Information Exchange Agreement between Liechtenstein and HMRC, the details of UK-resident taxpayers who hold accounts or assets in Liechtenstein will be passed to HMRC. “This goes hand-in-hand with the Liechtenstein Disclosure Facility”, says Valerie, “which provides an opportunity for UK taxpayers to declare any unpaid tax voluntarily in exchange for reduced penalties and immunity from prosecution.”

Another notable example that reflects the changing times is the agreement reached between the UK and Switzerland whereby the Swiss banks will levy withholding tax on UK taxpayers’ bank accounts held in Switzerland and pass the sums concerned to HMRC via the Swiss tax authorities. They will do so without identifying any taxpayers, but this nevertheless represents a marked change in attitude by the Swiss Finance Department.

Specific events can also trigger tax investigations, as Valerie explains: “HMRC is currently investigating approximately 500 UK-resident holders of HSBC accounts in Switzerland, using data passed on by an ex-employee. HMRC has been using this data to open Code of Practice 9 investigations – which relate to cases of suspected serious fraud – without apparently screening to check whether taxpayers have already made appropriate disclosures. HMRC’s new Offshore Coordination Unit has started contacting the remaining account holders to offer them the opportunity to make a disclosure.”

This highlights the fact that individuals and businesses can find themselves subject to a tax investigation without there necessarily being any actual wrongdoing. However, given the complexity of the current tax system and the scope for differences of interpretation, any detailed HMRC investigation stands a reasonable chance of finding some element of under-declared tax somewhere in the affairs of an individual or a business.

Via EPR Network
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