Current PFP News 

    Recordings from the 2015 Advanced PFP Conference are now available.


    PFP News


    Member-Exclusive News, Resources and Events


    February 25, 2014

    In This Issue

    Deadline to Complete PFP Trends Survey on Retirement Planning Tomorrow

    Advanced PFP Conference Video/Audio Recordings and Materials

    Tax Season Resources from the PFP Section

    New Repair Regs Resources

    Leg/Reg: Fiduciary Update

    Leg/Reg: Small Businesses Granted Relief from ACA Market Reform Excise Tax

    Forefield Alert: Materials for National Consumer Protection Week

    CPA/PFS Corner: Registration Open for Denver PFP Boot Camp

    Other News: Podcast Series with Bob Keebler; Kess Award for Excellence in Continuing Education Nominations



    PFP News & Resources


    Final Reminder! Complete the PFP Trends Survey on Retirement Planning by Tomorrow


    Please respond to a short 5-10 minute PFP trends survey on retirement planning by February 26th. The results of the survey will be used to create media message points that will demonstrate the importance of CPAs in their clients' financial planning relationships and raise awareness in the CPA community and with the media of the issues that CPA financial planners face. The staff of the AICPA's PFP Division is dedicated to raising awareness of CPA financial planners, but this cannot be done without your involvement! Thank you for your support of this quarterly survey!



    Now Available! Advanced PFP Conference Video/Audio Recordings and Materials


    Video and audio recordings, as well as presentation materials from the 2015 Advanced Personal Financial Planning Conference, are available from AICPA Conferences. Registered conference attendees have complimentary access when they log in to the site (see instructions on how to access the materials), while others can create an account to purchase recordings and presentation materials. Registration is now open for the 2016 conference, January 18-20 at the Bellagio, Las Vegas or online. PFP/PFS members save an additional $100 on the early bird AICPA member price.



    Tax Season Resources from the PFP Section


    The PFP Section understands your time and attention are limited - so we wanted to alert you to resources available at designed to support you as you approach April 15th and in meeting your clients' financial planning needs. Resources include a checklist to identify financial planning opportunities as you analyze your clients' tax returns and the Personal Financial Outlook checklist that you can have clients fill out as you meet with them during tax season. Popular guides, FAQs, webcast and podcast recordings, client communication content (like the 2014 and 2015 Key Numbers) and more are also included.



    New Repair Regs Resources


    As reported in the Journal of Accountancy and last week's PFP News, on February 13, the IRS released Rev. Proc. 2015-20, the much anticipated relief permits small businesses to change a method of accounting on a prospective basis, and avoid completing and filing a Form 3115. To ensure that the AICPA is providing our members with the most reliable information, the AICPA's Tangible Property Resources webpage has been updated with sample 3115 resources (for applicable businesses), a repair regs flowchart, a sample client letter, an overview of the tangible property regulations, links to current and previous regulations, and more. Most resources on this page are open to all AICPA members.



    Leg/Reg: Fiduciary Update


    President Obama is pushing the Department of Labor to move forward with their proposed fiduciary rule, strengthening standards for brokers overseeing retirement accounts. The rule was proposed by the DOL in November 2010, and has faced industry opposition. The DOL is expected to submit the proposal for review by the OMB soon.

    Additionally, SEC chief Mary Jo White said last week that she expects to voice her opinion on the idea of giving brokers a fiduciary mandate "in the short term." White indicated that it didn't matter when the DOL took action on a similar initiative, because the Labor Department rule and a possible SEC rule would be separate.



    Leg/Reg: Small Businesses Granted Relief from ACA Market Reform Excise Tax


    Over the last year, the AICPA heard from many members about their concerns related to the treatment of health coverage reimbursement arrangements under the Affordable Care Act (ACA) as a result of the guidance in Notice 2013-54. Specifically, tax practitioners thought the guidance unfairly penalized those small businesses that were reimbursing employees for medical expenses or health insurance premiums. There was also a lot of confusion over how to treat two percent S corporation shareholder-employee healthcare arrangements.

    After months of the AICPA pressing the government for answers and transitional relief, the IRS released Notice 2015-17 on February 18, which addresses many of those questions, and provides practitioners with a roadmap to follow when helping clients during the current filing season. Notice 2015-17 provides relief and reassurance to CPAs for the 2014 tax year on how to handle clients that have historically provided certain employer healthcare arrangements to their employees. It also extends, until further guidance is issued, relief from the penalty for two percent S corporation shareholder-employee healthcare arrangements. While the temporary penalty relief provided by the notice is welcomed, the AICPA will continue to pursue a more permanent solution. We will also work with the government to help close the loop on the remaining items (for example, the issue of medical expense reimbursements) that were not addressed in the notice.



    Forefield Alert: Materials for National Consumer Protection Week


    March 1-7 is National Consumer Protection Week, the perfect time to advise your clients on a variety of consumer protection issues. Forefield offers several concept pieces and videos that you may find useful in communicating with your clients and prospects during National Consumer Protection Week:


    Data Breaches: Fighting Identity Theft with New Technologies

    Protect Yourself Against Identity Theft

    Recovering from Identity Theft



    CPA/PFS Corner



    Registration Open for June 2015 PFP Boot Camp in Denver, CO
    The AICPA's in-person PFP Boot Camp will be held June 17-19, 2015 at the offices of Colorado State Society of CPAs in Denver. Learn more. To register at the PFP Section discounted price, call 303-773-2877. Whether you are preparing for the PFS exam or are interested in refreshing your knowledge in estate, retirement, tax, investment and insurance planning, the PFP Boot Camp will systematically cover the entire PFP body of knowledge in an engaging and practical 3-day class. For more information on all of our PFP Boot Camps, in-person, online, or on-demand, visit



    Other News



    Podcast Series: 2014 In Review with Bob Keebler
    As we approach tax season and begin to think about financial planning strategies to consider in 2015, Bob Keebler provides an overview of the important developments in 2014 that may impact your individual clients with respect to estate and gift, property law, and asset protection as well as income taxation, and IRAs and qualified plans in this 3-part podcast series.

    Nominations for Sidney Kess Award for Excellence in Continuing Education
    The Sidney Kess Award for Excellence in Continuing Education is designed to recognize an individual who has made significant and outstanding contributions in tax and financial planning continuing education and whose integrity and public service exemplify the AICPA's Values and Vision. Nominations are solicited by the Conference Steering Committee and accepted between May 31 - March 15 and the Committee determines the recipient of the Award. For Eligibility and Nomination Criteria, please email with the Subject Line of Sidney Kess Award.





    PFP Section-sponsored webcast recordings and materials are posted to if you would like to listen again or if you are not able to attend the live event. Conference recordings are available at aicpaconference

    PFP Section-Sponsored Webcasts:

    Save the Date! Proactive Planning: Keeping Busy 12 Months a Year with the Leading Financial Planning Strategies
    May 6, 1-2:45pm ET

    Decanting: Understanding the Income, Gift, Estate and GSTT Aspects
    May 12, 1-2:45pm ET
    Free | Discounted CPE

    Save the Date! 2015 Taxes: Start Your Money Plan Here
    Consumer Series: Take Charge: Your Money. Your Life.
    April 23, 1-2pm ET
    Free. No CPE available. Invite your clients to this consumer-oriented webcast.

    Other AICPA Webcasts:

    Repair Regs Update Part 2: How and When to File Form 3115,
    February 25, 1-2:45pm ET
    Discounted CPE

    Tax Power Hour: Annual Tax Season Debrief
    April 23, 1-2:34pm ET
    Free | Discounted CPE

    Upcoming Conferences:

    Tax Strategies for the High-Income Individual
    May 18-19
    Aria, Las Vegas
    Live | Virtual
    PFP/PFS members save an additional $100 on the early bird AICPA member price.

    Practitioners Symposium and Tech+
    June 7-10
    Orlando, FL
    Register. PFP/PFS members save an additional $100 on the early bird AICPA member price.

    Advanced Estate Planning
    July 20-22
    Salt Lake City, UT
    Live | Virtual
    PFP/PFS members save an additional $100 on the early bird AICPA member price.

    2016 Advanced Personal Financial Planning
    January 18-20
    Bellagio, Las Vegas
    Live | Virtual
    PFP/PFS members save an additional $100 on the early bird AICPA member price.

    Save the Date! Implementing PFP Services: Step-by-Step Plans for Success
    January 16-17, 2015
    Bellagio, Las Vegas
    PFP/PFS members save an additional $100 on the AICPA member price.


    Contact Us


    Email the PFP Team: Visit our home page:

    Follow us on:





    You are Subscribed to PFP Section Mailing List
    Manage Your Preferences | Unsubscribe | Add to Address Book
    Privacy Policy | Contact Us
    American Institute of Certified Public Accountants, 220 Leigh Farm Road, Durham, NC 27707-8110


    A A A

    Copyright © 2006-2015 American Institute of CPAs.