President Bush, Irish Prime Minister Mark St. Patrick's Day; Sneaky Accountant Tricks Tips
KAGAN: The markets have been open just about an hour. The Dow moving just a little bit. You can see it's up 20 points. The Nasdaq almost flat. Up just over a single point. There are few people in your life who you put more trust in than your accountant. After all, they have the keys to your kingdom, so to speak. So today's "Top Five Tips" warn you of common and costly tricks by less than trustworthy accountants. Our Personal Finance Editor Gerri Willis here with more on that. Gerri, before my accountant calls in, he has done a fine job for me for many years.</s>WILLIS: I am pleased to hear that. And there are plenty of accountants who are really great. But let me tell you, this is the time of year that the scam artists come out and they hang out a shingle and you don't know if they're legit or not. To check them out, you want to make sure that they know what they're doing. You want to make sure that they're either a CPA or they're an enrolled agent. They're someone who has the education and the training to do what they do. But a couple of facts here. Understand that not all CPA's do individual taxes. There are some 640,000 of them, but many of them don't do the kind of work you need. One good idea to try, an enrolled agent. These are folk who either worked for the IRS or they also absolutely have to take a very complicated test the IRS gives. They know what they're doing. Go to enrolledagent.org. That's NAEA.org to find out more. Daryn.</s>KAGAN: So how do you pick out the bad apples, Gerri?</s>WILLIS: Well, there are some red flags out there. If somebody, for example, tells you, hey, I can get you a bigger refund than anybody else, that is a bad sign. Some other bad signs, preparers who base their fees on how much they're getting you in a refund. Or if they ask you to sign a blank tax form, don't do that. That's always a bad idea. And if you get one of these fraud artists, call 1-800-829- 0433. That's the IRS. They're going to help you out if you are on the hook with a scam artist.</s>KAGAN: How about those ads for rapid refund? Those can sound kind of enticing.</s>WILLIS: You know, they are enticing and a lot of people do them. Look, you are taking out a loan for your own money and you're probably paying 40 percent to 200 percent in interest for the privilege. Don't go there. It's a bad thing. You are borrowing your own money. Why not just wait a few weeks for the refund? You pay no interest at all on it. Your money is back to you whole. That's the best way to go.</s>KAGAN: Go for that direct deposit into your checking account.</s>WILLIS: yes. Love that. I love the -- you know, file electronically. You can do it free at IRS.gov right now.</s>KAGAN: Better there. Now, when you hire an accountant are they loyal to you?</s>WILLIS: Well, you know, they don't have a fiduciary responsibility to find the absolute best tax deal for you. So it's up to you. And the thing you need to understand right now, because so many people are filing electronically, the folks who do this all the time, they are having to -- they are having to get -- sell other products, like Jackson Hewitt and H&R; Block. So understand that they're out there trying to sell IRAs, other things. You want to make sure that you pay for what you get -- Daryn.</s>KAGAN: And finally, really quickly, watch what you sign, Gerri?</s>WILLIS: Watch what you sign. You know, the IRS is thinking about allowing some of these accountants to sell your information to third party marketers. It could happen in a few weeks. So when you're sitting down to sign your tax forms, watch what you sign. You could be signing one of these forms to give away your information, Social Security data, other things, to other people. Don't want to go there.</s>KAGAN: Gerri, thank you very much. Like the green. It is St. Patrick's Day.</s>WILLIS: Really.</s>KAGAN: And on that note let's head to the White House. Annual tradition, President Bush welcoming the Irish prime minister, Bertie Ahern. Let's listen in.</s>BERTIE AHERN, IRISH PRIME MINISTER: ... the history of Irish immigration to this country is as old as America itself. This week, across this great land, millions of Irish-Americans are proudly celebrating their heritage. Remember on this day that the strength of today's relationship is made possible by the hard sacrifices of generations of Irish immigrants. From the sad and difficult past has emerged a successful and a proud people: proud of Ireland, proud of the United States, and proud of being Irish-American. We salute our many achievements and we celebrate our many successes. Mr. President, you have shown real leadership and understanding and the complex challenge of comprehensive immigration reform. On this St. Patrick's Day, mindful of the resonance that this great issue commands for people and Irish people. And I would like to express the hope that a path may be found to encourage current Irish immigrants to legalize their status in the United States on a permanent basis. I hope that they can realize their dream of stable and secure lives for themselves and their families in this great country. Mr. President, the greatest historic issue that has faced the Irish issue from all traditions and creeds has been the challenge to live together in peace on our small island. Since we met last year, we've made further real progress. After decades of denying the will of the Irish people, the IRA announced the end of its campaign and the decommissioning of its weapons. These were long awaited, landmark historic developments. Both Prime Minister Blair and I are determined that 2006 will be a decisive year and complete a journey of peace that we've embarked on. We are one in our objective and in our strategy. We want to see the Good Friday agreement implemented and its full potential realized. We will not be deterred from this challenge. And when we look back on such a dark past we're all the more determined to deliver on the promise and hope of that sensible (ph) agreement. The path to a permanent peace has not been easy, but I believe that step by step we're steadily building that peace and setting Northern Ireland on course for the future. The United States has been a great friend in this quest. And as we seek to conclude the last elements in our peace process, your continuing support, Mr. President, will be an enormous importance and greatly appreciated. I welcome your invitation to the Northern Ireland political parties to be here today and the fact that you've also extended an invitation to many others tragically affected by violence or working for a better future for everyone in Ireland. I warmly applaud the work of your special envoy, Ambassador Mitchell Reese (ph), as well as ambassador James Kenny. They do a great job serving their country, and their tireless efforts and commitment in advancing the peace process in Ireland are widely recognized. President John Quincy Adams once said that patience and perseverance have a magical effect before which difficulties disappear and obstacles vanish. We have found, Mr. President, the patience and perseverance that produced great results. With a little more in everybody's part and with your help and that of all our friends in the United States, we will complete our historic journey. I'm very pleased, Mr. President, to present you once again on this St. Patrick's Day of 2006 the shamrock as a token of our esteem and the warmth of our friendship. Thank you, Mr. President.</s>GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES: Thank you very much. Welcome back. Laura and I are delighted to welcome you for the White House. I'm proud to accept the bowl of shamrocks as a symbol of our friendship. The friendship between Ireland and the United States has deep roots. Few people fought as hard for American independence as the sons of Erin. At the end of the Revolutionary War, Lord Mountjoy told the House of Commons that "we've lost America through the Irish." The Irish played a key role in Washington's army, and in the two centuries since, the ties between Ireland and America have only strengthened. The ties between Ireland and America reflected in this great house. This house was designed by an Irish architect, and he used as his model the grandest building he knew, Leinster House in Ireland. The affinities between the two buildings are more than just architectural. The White House built, by James Hoban, has been home to every American president since John Q. Adams' father, John. The Dublin building that inspired him now serves as a free parliament in a free and independent Ireland. The ties between Ireland and America are also reflected in our people. Ireland has one of the fastest growing economies in Europe, and its growth is attracting immigrants. For more than a century that was a different story. Millions of Irish came to our shores because of war and poverty and famine. Often they arrived with nothing but the faith of their fathers and a willingness to work. These men and women, who built our cities, were also the soldiers who defended our freedom in every one of our wars. They're the priests and they're the nuns whose built a system of parochial schools that provided a decent education for millions of poor immigrants. And they're now doing the same thing for a new generation of African-Americans and Latino Americans in our inner cities. Like St. Patrick, the Irish and America began their life in their new land as exiles but came to love it as home. Finally, the ties between Ireland and America are reflected in our common commitment to bring the blessings of liberty to every man and woman and child on this earth. In the 20th Century, Ireland won its independence and raised up a democracy that offered its people a just and better life. In the 21st century Ireland is now helping other nations who share the same aspirations for peace and prosperity by fighting hunger and the spread of HIV/AIDS in Africa; by supporting relief efforts for victims of the tsunami in Asia; and by helping the Afghan people rebuild their lives in their country. Ireland is independent when it comes to foreign policy. But Ireland is not neutral when it comes to the global challenges like hunger and disease and human rights. Taoiseach, you're making a big contribution to our world. And we appreciate it. The United States appreciates all of Ireland's efforts for peace and freedom. Americans are grateful to our Irish friends, and we are proud of our Irish heritage. The Census Bureau tells us there are more than 34 million Americans that claim Irish ancestry. St. Patrick's Day I suspect that number jumps a little bit. On this special day we honor the saint who brought the gospel of peace to the green isle. And we count ourselves blessed by the warm friendship between his adopted land and our own. Thanks for coming. Appreciate it.</s>KAGAN: It's the annual ceremony, the presentation of the shamrock. The Irish prime minister, Bertie Ahern, and President Bush, and it's at the White House. In case you're wondering why would the Irish prime minister be here instead of Ireland on St. Patrick's Day? Well, four million Irish living in Ireland and, as you heard President Bush mention, 34 million of Irish decent here in the United States. And still ahead on CNN LIVE TODAY, starry-eyed players take the court, eagle-eyed employers, they are on the offensive. You're not going to believe how far March Madness has gone to your workplace computer. Coming up in just a bit.