Taking care of business

Doing It Wrong Twitter Case Study: The Over-Excited Federal Taxation Agency

Without naming names (I’ll give you a hint, it starts with I and ends in S), sometimes agencies get a little too excited when it comes to social media and make the mistake of jumping in head first without analyzing their target audience’s needs. In the case of the IRS, they’re forgetting that tax dodgers know they use Twitter and Facebook to track down tax evaders (hey, if you’re dumb enough to tweet about your five years of unfiled returns, you totally have it coming) and therefore also forgetting that this might turn a few potential followers off from their feeds.

Despite that, the IRS is happy to announce several new Twitter feeds, including one specifically for Spanish-speaking taxpayers. Hola!

The IRS Twitter news feed, @IRSnews, provides the latest federal tax news and information for taxpayers. The focus of the IRS Twitter messages will be on easy-to-use information, including tax tips, tax law changes and important IRS programs such as e-file, the earned income tax credit and “Where’s My Refund.” Anyone with a Twitter account can follow @IRSnews by going to http://twitter.com/IRSnews.

Another important IRS Twitter feed, @IRStaxpros, is designed for the tax professional community. Follow @IRStaxpros by going to http://twitter.com/IRStaxpros. The IRS also tweets tax news and information in Spanish at @IRSenEspanol. Follow this Twitter feed by going to http://twitter.com/IRSenEspanol.

The IRS Twitter feeds will work in conjunction with IRS.gov and the IRS YouTube channels to bring IRS information direct to taxpayers. Since August of 2009, there have been more than 1 million views of videos on the IRSvideos (http://www.youtube.com/irsvideos), IRS multilingual (http://www.youtube.com/user/IRSvideosmultilingua) and IRS American Sign Language (ASL) (http://www.youtube.com/IRSvideosASL) channels.

What’s doing it wrong about this? Maybe the fact that the IRS keeps pumping out Twitter feeds a la PwC (who, last time I checked, had a good 30 – 50 Twitter accounts, each with a varying specialty) but still hasn’t learned how to engage, which is an important component to social media as any of us with half a social media brain already know. Twitter users don’t want to be shouted at, they generally want to interact! If I want tax news, I’m far more likely to follow Don’t Mess With Taxes and get it from her instead of wasting my time plugging into a spammy news feed run by our almighty Treasury Department.

Just sayin.

You’d Be Wrong if You Thought Bob Herz Was Coasting into Retirement

Just because Golden Boy is assuming Roberto’s seat on Friday, don’t think Herz is spending his final days as the FASB Chairman perusing the web for the latest D-list celebrity sex tape:

The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) today announced the completion of the first phase of their joint project to develop an improved conceptual framework for International Financial Reporting Standards (IFRSs) and US generally accepted accounting practices (GAAP).

The objective of the conceptual framework project is to create a sound foundation for future accounting standards that are principles-based, internally consistent and internationally converged. The new framework builds on existing IASB and FASB frameworks. The IASB has revised portions of its framework; while the FASB has issued ‘Concepts Statement 8’ to replace ‘Concepts Statements 1 and 2’.

This first phase of the conceptual framework deals with the objective and qualitative characteristics of financial reporting. As part of the consultation process, the IASB and FASB jointly published a discussion paper and exposure draft that resulted in more than 320 responses.

Along with the heavy lifting that comes with the FASB chairmanship, we imagine Herz is also doing some reflecting this week as his tenure comes to an end. You know, reading some of his favorite comment letters and drafting a farewell/thanks for all the good times email to Barney Frank and the ABA. Stuff like that.

IASB and US FASB Complete First Stage of Conceptual Framework [Business Wire]