AICPAs Tenacity Wins Clarity for Tax Preparers and Simpler Filing Rules for Taxpayers
The CPA Advocate: July, 2013. The IRS recently issued a revenue ruling on Mexican Land Trusts for which the AICPA has pushed since 2007.
Published on July 18, 2013
AICPA Tells IRS Preparers Deserve More Info, Clarity on 2011 Office Visits
In a December 22 letter to the IRS Small Business Commissioner, Patricia A. Thompson, chair of AICPA’s Tax Committee, reiterated AICPA’s many concerns about the broad scope of the Preparer Letters and Visitation program.
Published on January 28, 2011
AICPA Supports GASB Preliminary Views on Fair Value Measurement
In its comment letter to GASB and in testimony before the Board, the AICPA expressed concerns with the proposed definition of an investment both in terms of its clarity and intended scope and recommended that the Board reexamine the proposed definition
Published on November 25, 2013
ARSC Comment Letter on IAASB Exposure Draft and Consultation Paper
This comment letter from the ASB to the IAASB discusses the Proposed Policy Statement, “Clarifying Professional Requirements in International Standards Issued by the IAASB” and Consultation Paper: Improving the Clarity and Structure of IAASB Standards and Related Considerations for Practice Statements
Published on March 01, 2013
June 15, 2006 Comments on Form 990
...in the Instructions to Lines 25, 75b and 75c of the 2005 Form 990, Return of Organization Exempt from Income Tax. Generally, the suggestions are provided to create greater clarity of the instructions
Published on November 06, 2012
AICPAs Comments on IRSs Delay in Releasing Tax Forms
...selected tax forms. The AICPA is interested in entering into a dialogue with the IRS on failure-to-file and failure-to-pay penalties, estimated tax penalty relief, and clarity in the release of tax
Published on April 02, 2013
AICPA Urges IRS to Clarify Form 990 Instructions
The American Institute of Certified Public Accountants has urged the IRS to clarify its instructions on three lines of Form 990, which is the form filed by organizations that are exempt from federal income tax. The AICPA's June 15, 2006 comments request further clarification of several parts of Form 990: lines
Published on July 01, 2013
Net Investment Income Tax
On Dec. 5, 2012, proposed regulations were published that address various aspects of the new Internal Revenue Code (IRC) section 1411, which will impose a tax on unearned income on investments. This new net investment income
Published on December 06, 2013
AICPA Encourages GASB to Remove Certain Financial Statement Elements from Conceptual Framework
The AICPA encouraged the Governmental Accounting Standards Board (GASB) to strongly consider removing the deferred outflows of resources and deferred inflows of resources elements from the Board’s conceptual framework.
Published on January 06, 2012
AICPA Letter Helps Persuade COSO to Postpone Release of Internal Control Framework
The CPA Advocate: June, 2012. AICPA told COSO its updated framework will be valuable to practitioners, but recommended additional guidance on how to consider weaknesses or absences of a principle when evaluating internal control effectiveness.
Published on June 12, 2012