2010 Tax Software Survey

Article:  The Journal of Accountancy and The Tax Adviser conducted a survey of AICPA members who prepared 2009 tax returns for a fee to determine which tax preparation software products were the most popular, what aspects of those products preparers liked and what they disliked.
Published on January 28, 2011

Edges of Acceptable Tax Planning

Article:  The 11th Circuit affirmed the application of section 1031(f)(4) to a like-kind exchange that was structured by a corporation to avoid the purposes of the related party rule of section 1031(f). Ocmulgee Fields, Inc. v. CIR, No. 967-07 (11th Cir. 8/13/2010), aff'g, 132 T.C. No. 6 (2009). After an earlier similar ruling
Published on January 28, 2011

Registered Tax Return Preparers Beware of New Jargon and Compliance Obligations

Article:  The federal government has been increasingly focused on errors of paid return preparers. After study by the Internal Revenue Service (IRS) and other government agencies, the IRS has a plan that casts a wide net, at significant cost, to try to rein in a few bad preparers, increase the competency
Published on January 28, 2011

How Poor Planning and Tainted Opinion Added Up to a $36.7 Million Accuracy Penalty

Article:  In a case of first impression, the Tax Court in Canal Corp. et. al. v. Commissioner, 135 T.C. No. 9, was presented with a leveraged partnership transaction. As a result of poor planning, sloppy paperwork and a tainted opinion by PriceWaterhouseCoopers (PwC), the Tax Court held that the transaction constituted a disguised sale,
Published on January 28, 2011

Tax Insider September 9, 2010

Article: 
Published on September 09, 2010