GAO Study of Financial Planning
Federal Law:
Dodd-Frank required the GAO to conduct a study on the effectiveness of existing regulation of financial planners, including tax advisors. The AICPA met with the GAO during the study to present the profession’s point of view. AICPA strongly opposed any new regulatory structure affecting...
Published on April 03, 2013
Consumer Financial Protection Bureau
Article:
This article outlines the AICPA's involvement with the development of the Consumer Financial Protection Bureau (CFPB). The AICPA was successful in winning recognition by House and Senate lawmakers of the vital role CPAs play in advising Americans on their financial decisions, thus...
Published on April 03, 2013
Estate Tax Provisions in the Presidents Fiscal 2013 Budget Proposals
Overview:
This page includes a discussion on the President's fiscal 2013 budget tax proposals regarding estate taxes, including the proposal on intentionally defective grantor trusts.
Published on April 03, 2013
AICPA Comments on DOL Participant Directed Accounts
Comment Letter:
These AICPA addresses the Department of Labor (DOL) fiduciary requirements for disclosure in participant-directed individual account plans.
Published on September 24, 2012
Federal Legislative and Regulatory Issues
Federal Law:
This page highlights the advocacy issues in which the Congressional & Political Affairs Team is advocating on behalf of the profession, and also those issues that the team has recently followed.
Published on March 29, 2013
Financial Regulatory Reform
Article:
Responding to the 2007-2009 financial crisis, Congress debated comprehensive financial regulatory legislation that would address systemic risks, provide U.S. regulators with new resolution authorities and create a new consumer financial protection bureau. Listed...
Published on February 04, 2013
AICPA Supports GASB Action to Improve Pension Accounting Standards
Newsletter:
The AICPA Advocate: August, 2012. The AICPA endorsed the GASB's June 25 vote to improve existing standards for pension accounting and financial reporting for state and local employers, as well as governmental pension plans. The GASB released the new standards on Aug. 2, which will be effective in 2013 and
Published on August 14, 2012
Tax Strategy Patents
Article:
On September 16, 2011, President Obama signed the America Invents Act, which contains a provision that eliminates the patenting of new tax strategy patents. The AICPA strongly supported this legislation and worked towards
Published on March 06, 2013
AICPA Cheers as Congress Moves One Step Closer to Protecting Tax Strategies
Newsletter:
The patent reform bill passed by the U.S. House of Representatives on June 23 is an important victory for U.S. taxpayers and the AICPA.
Published on September 02, 2011
Insurance Company Audits
Article:
...ISSUE: How the profession should respond to legislation that requires insurers to have annual audited statutory financial reports of insurance companies. BACKGROUND: All states require domiciled insurance enterprises to submit to the state insuran
Published on March 18, 2011
CPAs Converge on Capitol Hill
Newsletter:
Top elected leaders of the accounting profession from across the nation converged on Capitol Hill on May 24-25 for face-to-face meetings with Members of Congress about issues important to CPAs.
Published on June 30, 2011
Tax Legislation and Policy
Article:
The Congressional and Political Affairs Team often assists the Tax Team with tax legislation and policy issues, and advocates about them to Members of Congress and other key policymakers on behalf of the profession.
Published on April 03, 2013
AICPA Comments on FY2005 Budget Proposal
Comment Letter:
AICPA weighs in on the administration's retirement savings plan proposals.
Published on February 10, 2010
Using Family Partnerships and Refuting IRS Challenges
Article:
This is an article highlighting the AICPA's position concerning the legitimate use of family partnerships. In particular, the AICPA takes exception with the IRS's refusal to recognize for transfer tax purposes the validity of many family partnership's under examination.
Published on September 19, 2012