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Individuals

Individual Income Taxation 

 

This section covers hot tax issues concerning individual taxpayers.

Visit the links below and to the left for the following resources:

  • articles

  • tools and practice aids 

  • comment letters to Congress, Treasury and IRS 

Practice Support 

Advocacy 

  • On May 7, 2013, the AICPA made recommendations to the IRS on the Safe Harbor Method for the Home Office Deduction under Rev. Proc. 2013-13.

  • On April 1, 2013, AICPA submitted a comment letter to the IRS and Treasury as they continue to develop Form 1099-C, Cancellation of Debt and related instructions as well as guidance on section 6050P.

  • AICPA submits Paperwork Reduction Act comments on Proposed Regulations under section 1411 - Net Investment Income Tax (REG-130507-11) 

  • AICPA files comments with IRS requesting clarification of questions A&B on Form 1040 Schedule E relating to rental property owners and when they must file form 1099s

  • The IRS Instructions for Registered Domestic Partners indicates that amended returns can be filed for years with expired statutes of limitations. The guidance needs to address issues including how to divide any tax refunds between the partners and whether other issues in opening tax returns in expired years need to be considered.

  • AICPA Testimony on September 13, 2012, before House Small Business Committee on Impact of Fiscal Cliff and Tax Uncertainty on Small Business

  • AICPA Testimony on  July 25, 2012, Senate Finance CommitteeEducation Tax Incentives and Tax Reform,..

  • Check out our tangible property resources webpage. Temporary regulations and other guidance released at the end of 2011 and in 2012 regarding tangible property, affect all taxpayers that acquire, produce or improve tangible property.  Generally effective for tax years beginning on or after January 1, 2012.

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