AICPA News Update - February 11, 2013

Newsletter:  In this issue: Learn About Debt Ceiling Issue and AICPA's Efforts on Fiscal Responsibility
Published on February 13, 2013

Concerns About CPA Letters to Third Parties

Article:  A CPA receives a request from a client to provide a letter to the client’s mortgage broker, lender, adoption agency, or other third party. Is there any harm in the...
Published on May 14, 2010

Obtaining Accountable Plan Status for Tool Reimbursement Plans

Article:  The tax treatment of tool reimbursement plans has long been a point of contention for businesses that require employees to provide their own tools. Now the IRS has shown a way to obtain that tax-favored status.
Published on October 05, 2010

All Aboard The Impact of the New York State MTA Payroll Tax on Alternative Investment Fund Managers

Article:  Assembly Bill A08180, establishing the Metropolitan Commuter Transportation Mobility Tax. The bill imposes a new tax on employers and self-employed individuals engaging in business within the 12 counties of the Metropolitan Commuter Transportation District
Published on January 28, 2011

IRS Updates Determination Letter Procedures for Preapproved Plans

Article:  In Rev. Proc. 2011-49, the IRS updated the procedures for sponsors and practitioners to request opinion and advisory letters regarding qualification under Secs. 401 and 403(a) for preapproved plans.
Published on August 24, 2012

IRS, DOL, Several States to Share Data on Worker Classification

Article:  The DOL and the IRS agreed to share information and coordinate law enforcement “to end the business practice of misclassifying employees in order to avoid providing employment protections.”
Published on August 24, 2012

Timing of Deduction for Bonus Accruals Under Pooled Arrangements

Article:  Rev. Rul. 2011-29 favorably upholds the current deductibility of a bonus pool that is determined based on a formula or board-approved amount by year end with employment required on a payment date within 2½ months of year end
Published on March 18, 2013

AICPA News Update Vol. 14 No. 48

Newsletter:  Vote Monday for Your Favorite AICPA Accounting Competition Semi-finalist Team AICPA and SHRM Announce 9 Winners of WLIFE Award Re-launched International Interest Area is Valuable Member Resource Free Webinars Available: Workflow Systems, Firm Retirement Plans and More Send the Financial Accounting Foundation a Comment Letter Supporting
Published on November 11, 2011

AICPA News Update Vol. 14 No. 55

Newsletter:  COSO Releases Proposed Update to Internal Control Framework Send FAF a Comment Letter Supporting an Independent Board for Private Company GAAP Modifications AICPA Releases Revised Revenue Recognition Project Brief Technical Practice Aids Issued on SOC Reports (SSAE No. 16) AICPA Submits Comments to IRS Regarding Trust
Published on January 04, 2012

A Review of the Revised Disciplinary Process Under Circular 230

Article:  Circular 230 outlines the duties and restrictions relating to practice before the IRS and the rules regarding disciplinary proceedings for violations. Final regulations issued in 2007 made many changes to Circular 230.
Published on May 10, 2010

A Different Type of Loan Fraud

Newsletter:  What it is and how it is gaining ground.
Published on December 29, 2009

Sweet Rewards State and Local Incentives Arrangements

Article:  Many state governments and local communities help businesses grow and expand by offering various credits or incentives for routine investments, for workforce training, or for more targeted behaviors, such as locating in an enterprise zone.
Published on May 02, 2010

Individual Taxation Developments

Article:  This article covers recent developments affecting individual taxation. The items are arranged in Code section order
Published on March 18, 2013

Self-Directed IRAs Advantages, Challenges, and Options

Article:  A self-directed IRA is simply an account in which the custodian agrees to allow the taxpayer to exercise greater control over investment decisions.
Published on May 24, 2010

Regulation of Tax Return Preparers

Article:  To improve the oversight of tax preparation by paid tax preparers, the IRS has established a registration, examination, and continuing education regime for paid tax preparers. This article discusses the general requirements under the regime and the specific rules and exceptions to the rules for CPAs.
Published on May 01, 2011