Current Corporate Income Tax Developments, Part I - 2011
Article:
Part I of this two-part article focuses on nexus, tax base, allocable/apportionable income, and Sec. 338(h)(10) transactions.
Published on January 22, 2013
Current Corporate Income Tax Developments (Part II) - 2011
Article:
This article covers some of the more important developments in the areas of apportionment, unitary groups/filing methods, administration, flowthrough entities, and other significant corporate state tax issues.
Published on January 08, 2013
Conflicts of Interest IRS Rules Differ from AICPA Professional Standards
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Circular 230 forbids federal tax practitioners from having conflicts of interest, defined as representation of one client that is directly adverse to that of another client, or representing a client in circumstances creating a significant risk that the representation of one or more clients will be materially limited by the
Published on January 08, 2013
Current Developments in Employee Benefits and Pensions (Part II)
Article:
This two-part article covers significant developments in employee benefits. Part II focuses on guidance released under PPACA and chages to qualified plan rules.
Published on August 24, 2012
Appreciation of Client Family Dynamics A Case Study
Article:
Much of a CPA's job involves dealing with family dynamics, and often this requires skills related more to understanding and communication than technical expertise. Three useful points should be used to improve practice management when families are involved.
Published on August 24, 2012
Strategies for the Social Security Safety Net
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For approximately the next 20 years, 10,000 people a day will become eligible for Social Security retirement benefits and will be looking to a tax practitioner to help them plan for the future.
Published on August 24, 2012
Year-End Individual Taxation Report
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This article covers developments from the past year affecting taxation of individuals, including last year’s tax relief, health care, and small business legislation, regulations, cases, and IRS guidance.
Published on August 24, 2012
Managing New Schedule M-3 Disclosures
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The most recent change to Schedule M-3, for 2010 and following tax years, requires new disclosures of research and development (R&D) costs and Sec. 118 exclusions from income of nonshareholder contributions to capital for corporate filers.
Published on August 24, 2012
The Voluntary Classification Settlement Program
Article:
In hopes of increasing tax compliance, the IRS has announced a Voluntary Classification Settlement Program to allow eligible taxpayers to voluntarily reclassify their workers as employees for federal employment tax purposes.
Published on August 24, 2012
Capital Construction Funds Program
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The Capital Construction Funds program encourages construction, reconstruction, or acquisition of vessels by allowing owners or operators to defer federal income taxes under Sec. 7518 on certain money or other property placed into a CCF.
Published on August 24, 2012
IRS Examinations of Small Businesses and Their Electronic Accounting Files
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In 2010, the IRS SB/SE Division expanded its enforcement capabilities by requesting the electronic accounting software files of small businesses under examination.
Published on August 24, 2012
Short Sales of Investment Real Property
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This item addresses a situation that often arises in today’s economic climate: a short sale of real property held for investment, not for rental, secured by a recourse note.
Published on August 24, 2012
The Part Sale, Part Gift Trap for Nearly Worthless Securities
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This item discusses a trap for the unwary when the part gift, part sale rule applies.
Published on August 24, 2012
Net Operating Loss and Unrealized Investment Gain Tax Provision Benefit
Article:
This item reviews an anomalous situation that occurs in some cases under ASC ¶740-20-45-7 for entities generating NOLs with an investment portfolio.
Published on August 24, 2012
Unreported Offshore Accounts A Hidden Danger for Clients
Article:
Criminal penalties for not reporting offshore accounts can be harsh. This item provides action steps for CPAs.
Published on August 24, 2012