AICPA News Update - February 10, 2012 

Special Tax Issue with News and Resources 
Published February 10, 2012

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AICPA News Update
A Weekly Email Newsletter on Issues & Events Surrounding the CPA Profession
 
 
 
 
  In This Update: February 10, 2012 - Volume 15 No. 6  
 
2011 Tax Practice Guides & Checklists
Brush Up on Practice Standards for Preparing Returns
New Tax Practitioner’s Toolkit with Resources to Help Members Communicate and Promote Their Value
Become a Member of the Tax Section
Sign Up for Free CPA Letter Daily to Get Tax News Each Weekday
Tax Publications Offer Timely Updates, In-Depth Articles
Network with Other CPAs and Get Tips on Return Preparation
Widen Your Knowledge with Timely Articles
       
 
2011 Tax Practice Guides & Checklists
 

The 2011 version of the AICPA’s Tax Practice Guides and Checklists is now available. The checklists cover a wide range of clients (individuals, S and C Corps, partnerships, tax-exempt organizations, and so forth) and include both estate and gift tax returns. Also included are worksheets for issues such as divorce and vehicle use, and a practice guide for state and local tax. In addition to the guides and checklists, the AICPA has prepared sample engagement letters to clients and transmittal letters to accompany the returns, as well as organizers to help you or your staff compile expenses, deductions and credits to complete forms such as the 5500 series, 1040, 1065, 1120, and 706. These items are free for Tax Section members and available to non-section members for a fee. Download the guides and checklists today.

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Brush Up on Practice Standards for Preparing Returns
 

Two new interpretations of the Statements on Standards for Tax Services (SSTS) took effect January 31. Interpretation No. 1-1, “Reporting and Disclosure Standards,” provides that a member should not recommend a tax return position or take a position on a tax return that the member prepares unless that position satisfies applicable reporting and disclosure standards. Interpretation No. 1-2 clarifies existing standards as they relate to tax planning. Explore the AICPA’s new web page for all SSTS for more information.

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New Tax Practitioner’s Toolkit with Resources to Help Members Communicate and Promote Their Value
 

Deepening client relationships and building new ones in a changing, competitive environment requires a clear, consistent message about the unique value of the tax services you provide. The Tax Practitioner’s Toolkit will help you do just that. Find tools and resources to educate your staff, engage clients and prospects, and promote your tax practice – FAQs, a webinar, presentations, brochures, tweets, blurbs for your website, print ads and Google AdWords. All customizable for you to place your logo and firm contact information. Check it out and tell us what you think.

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Become a Member of the Tax Section
 

Join the Tax Section today and receive the 2011 Tax Practice Guides and Checklists at no additional cost. As a Tax Section member you’ll also receive The Tax Adviser – the CPA profession’s top magazine for tax tips and techniques, full access to premium content and practice tools on the Tax Center website, biweekly e-alerts that allow you to stay up to date on critical tax developments, exclusive discounts, and representation in Washington. Join today and see why the AICPA Tax Section is more than 26,000 members strong.

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Sign Up for Free CPA Letter Daily to Get Tax News Each Weekday
 

The AICPA’s free CPA Letter Daily e-brief is covering tax news each day to help members during the tax filing season. CPA Letter Daily will highlight tax news, available resources and how many days remain to file returns in the “Tax Season Watch” section. Keep on top of business, financial, accounting and AICPA news as well with CPA Letter Daily. Sign up now.

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Tax Publications Offer Timely Updates, In-Depth Articles
 

The Tax Adviser, the nation’s No. 1 tax magazine, is a valuable monthly resource for the latest tax-planning techniques and tax-saving methods – continuing a 40-year tradition of being the CPA’s leading source for news, analysis and guidance on federal tax. In addition, the monthly AICPA Tax Insider e-newsletter features news and expert commentary for tax and financial planning professionals. Every month, corporate taxation professionals rely on the AICPA Corporate Taxation Insider e-newsletter for need-to-know news about the profession, hard-hitting commentary and professional development resources. These Insider e-newsletters are available without charge. Additionally, you can access a range of useful tools on the Journal of Accountancy’s online Tax Filing Season Resources page, including articles, videos and useful links relating to individual and business tax, compliance concerns, employee benefit issues and more.

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Network with Other CPAs and Get Tips on Return Preparation
 

The AICPA hosts a Tax Practitioners LinkedIn group for members to post comments or questions about taxation and tax return preparation issues that concern them. It’s an excellent way to interact with your fellow CPAs across the country and get valuable information for your practice. Group members also get notices about upcoming AICPA webinars and access to a job board. You must be a LinkedIn member to participate. Join today.

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Widen Your Knowledge with Timely Articles
 

In addition to the resources already mentioned, CPAs have access to many articles in AICPA publications that explain tax developments and provide insights into applying tax rules. Following is a rundown of what is available:

The Tax Adviser

Journal of Accountancy

AICPA Insights

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