The Proposed Statement on Standards in Personal Financial Planning What Does It Mean for You
Article:
To adapt to this rapidly evolving area of practice, the AICPA released this spring an exposure draft of the Proposed Statement on Standards in Personal Financial Planning Practice.
Published on June 11, 2013
Targeted Partnership Allocations Part I
Article:
This article discusses the rules governing safe-harbor allocations, the rules governing targeted allocations, and reasons for the use of targeted allocations.
Published on June 06, 2013
Suspension of Tangible Property Capitalization Issue Examinations Extended
Article:
The IRS posted an updated directive for field examinations on the repair vs. capitalization issue that extends the suspension of examinations.
Published on May 31, 2013
New York Court of Appeals Upholds Amazon Law
Article:
New York’s highest court has confirmed that New York residents have to pay sales tax on internet sales where the vendor’s only contact with the state is through in-state affiliates.
Published on May 31, 2013
Asset Transfers to Foreign Corporations
Article:
The IRS issued final, temporary, and proposed regulations governing outbound asset transfers under Sec. 361.
Published on May 31, 2013
Taxation of the Cloud Still Hazy
Article:
This column updates readers on some recent state guidance on cloud service offerings and highlights a few examples of the trends appearing at the state level.
Published on May 31, 2013
Tax Court Reverses Its Position on Valuation Misstatement Penalty Supreme Court Agrees to Hear Case on the Issue
Article:
The Tax Court held that a taxpayer may not avoid application of the gross valuation misstatement penalty by conceding that adjustments made in an IRS FPAA notice were correct on grounds unrelated to valuation or basis.
Published on May 31, 2013
How to Identify a Potential Criminal Tax Matter Requiring an Attorney
Article:
This column discusses some of the circumstances where it might be appropriate to refer or involve an experienced criminal tax attorney and the importance of making a timely referral.
Published on May 31, 2013
Dealing With the Secondary U.S. Tax Consequences of Transfer-Pricing Adjustments
Article:
This article explains how a transfer-pricing adjustment triggers secondary financial consequences in a multinational group.
Published on May 31, 2013
Promoting Fictitious Bonds for Tax Payments Leads to Conviction for Sovereign Citizen
Article:
A proponent of the “sovereign citizens” movement has been convicted of conspiracy to defraud the United States through a series of seminars in which attendees were taught to pay their federal income taxes by filing fictitious bonds.
Published on May 31, 2013
Appeals Court Refuses to Lift Injunction in Return Preparer Regulation Case
Article:
The IRS lost another round in its court battle over its plan to regulate tax return preparers when the D.C. Circuit denied its motion to stay an injunction halting the IRS’s return preparer regulation program.
Published on May 31, 2013
Sec. 403(b) Plan Preapproval
Article:
The IRS has released a revenue procedure establishing a program for the preapproval of Sec. 403(b) plans.
Published on May 31, 2013
IRS Expands Identity Theft Law Enforcement Assistance Program
Article:
The IRS has expanded its Law Enforcement Assistance Program on identity theft to all 50 states and the District of Columbia.
Published on May 31, 2013
Advising Clients Regarding Erroneous Tax Return Positions Part I
Article:
This article examines the two somewhat different versions of the rule on advising clients regarding erroneous tax return positions—one applied by the AICPA and the other by the IRS.
Published on May 31, 2013
Identifying and Making LLC Elections
Article:
As a separate taxable entity, an LLC has the ability to make certain tax elections like any other taxpayer.
Published on May 31, 2013