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WASHINGTON — In addition to providing stimulus payments to individuals, the Economic Stimulus Act of 2008 provides incentives to businesses. These incentives include a special 50-percent depreciation allowance for 2008 purchases and an increase in the small business expensing limitation for tax years beginning in 2008.

WASHINGTON — The Internal Revenue Service today advised taxpayers that in most cases they will not have to do anything extra this year to get the economic stimulus payments beginning in May.

The Financial Accounting Standards Board decided in a 5-2 vote at its meeting on February 6, 2008, to approve proposed FASB Staff Position (FSP) No. SOP 07-1-a , Effective Date of AICPA Statement of Position 07-1.

The Financial Accounting Standards Board (FASB) today issued FASB Staff Position (FSP) FIN 48-2, Effective Date of FASB Interpretation No. 48 for Certain Nonpublic Enterprises. The final FSP incorporates changes made to the original Exposure Draft, and defers the effective date of FASB Interpretation 48, Accounting for Uncertainty in Income Taxes, for certain nonpublic enterprises-including nonpublic not-for-profit organizations-to the annual financial statements for fiscal years beginning after December 15, 2007.