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    IRS Issues Technical Advice on Success-Based Fees

    Article When a taxpayer incurs success-based fees, the determination of whether the fees are currently deductible, as opposed to capitalizable, depends on whether the taxpayer can establish contemporaneously that all or a portion of the fees...
    Published on January 28, 2011

    Ten Things CPAs Need to Know About Structured Legal Fees

    Article With the right preparation, a structured legal fee agreement can be an excellent tax planning tool for plaintiffs’ lawyers
    Published on May 10, 2010

    Ninth Circuit Awards Litigation Costs Paid by Third Party

    Article The Ninth Circuit reversed the Tax Court and held that a taxpayer could “incur” attorneys’ fees initially paid by a third party for purposes of an award of litigation costs under Sec. 7430
    Published on January 28, 2011

    New Rules Govern Practice Before the IRS

    Article Editor: Joel E. Ackerman, CPA, MST The highly publicized accounting scandals of 2002, such as Enron, WorldCom, and Global Crossing, along with revelations about tax shelter abuses, have had wide-reaching financial effects on investors and the economy. Act
    Published on April 19, 2010

    Code of Professional Ethics

    Article Our ethical behavior is essential to preserve the trust that the public has placed in our profession. The publicity on certain isolated individuals within our profession has, at times, left a doubt with the public that we must attempt to dispel. We as professionals must double our efforts to make
    Published on January 28, 2011

    AICPA News Update - May 4, 2012

    Newsletter In this issue: USDA Requiring CPAs to Attest to AGI Limitations for Clients in Certain Farming Programs, AICPA Submits Comment Letter on PCAOB Broker-Dealer Proposal, Regulatory Alert: SEC Independence Requirements Apply to Auditors of Nonissuer Broker-Dealers and Investment Advisers, CGMA Report Provides Guidance for Transforming the Finance Organization, TPA Issued on Compilation and Review
    Published on May 08, 2012

    Tax Practice Quality Control

    Article Practitioners should consider implementing a tax practice quality-control system.
    Published on October 31, 2012

    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

    Nonrefundable Milestone Fees Do Not Qualify as Success-Based

    Article A business can expense 70% of “success-based fees,” meaning amounts that are contingent on the successful closing of a covered transaction. It is important to remember this safe-harbor election can apply to both sides of the transaction
    Published on November 30, 2012

    When Plaintiffs in Class Actions Pay Tax on Attorneys Fees

    Article The taxation of attorneys’ fees in opt-out class actions has become relatively clear, as long as certain elements are established. In opt-in cases, class members risk being tagged with income in the...
    Published on July 22, 2010

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