IRS Correspondence Examinations
The IRS has expanded the use of correspondence examinations of individual income tax returns. This item reviews the procedures by which returns are selected for review, how...should respond to correspondence, and IRS problems with timely response to taxpayer or practitioner letters
Published on June 16, 2011
Watch Out for Californias Late-Filing Penalty for LLCs Investing in LLCs
Many LLCs that are not connected to California other than via investment interests in LLCs that are conducting business in California are unknowingly not complying with California's filing requirements, especially if the California apportioned net income is small or a loss.
Published on July 31, 2014
Engagement Letter Fairness Opinion Fee Language May Affect Fees Taxation
Language used in investment banker (IB) engagement letters to implement fee payment arrangements can significantly affect the federal income tax treatment of such payments
Published on October 04, 2011
AICPA News Update - February 10, 2012
In this issue: 2011 Tax Practice Guides & Checklists, Brush Up on Practice Standards for Preparing Returns, New Tax Practitioner...Their Value, Become a Member of the Tax Section, Sign Up for Free CPA Letter Daily to Get Tax News Each Weekday, Tax Publications Offer Timely
Published on March 09, 2012
FBARs and Not-Yet-Reported Offshore Income Penalties and Practitioners Issues
...considers (1) options available for the client that did not disclose under the IRS’s voluntary disclosure program, which ended October 15, 2009; (2) practitioners’ responsibilities, including tax organizers and engagement letters; and (3) items suspended and/or extended to the June 2010 due date
Published on January 28, 2011
Thinking Outside the Typical Client Profile in Tax Engagements
Tax practice leaders should consider whether their firms have appropriate processes and procedures in place to handle engagements that fall outside their usually relatively narrow profile for busy-season individual tax return...
Published on August 31, 2013
AICPA News Update - February 8, 2013
...Money and Time with Free Tools to Help You Communicate with Clients; Updated 2012 Tax Practice Guides, Checklists, Organizers and Letters; Get Exclusive Discounts and Resources by Joining the Tax Section; Sign Up for Free...
Published on February 13, 2013
Why and How to Conduct a Tax Practice Inspection
A firm can use a tax practice inspection as a tool to test the quality of tax services provided to clients, to develop specific recommendations for improvement, and to prepare or update a tax services...
Published on January 28, 2011
AICPA News Update - November 9, 2012
In this issue: New Opportunities Related to SOC Engagements; AICPA Issues Comment Letter on FATCA Valuation Issues; Hurricane Sandy Web Page – Available Resources for the Profession; Free...
Published on November 09, 2012
Asset Protection Planning with Limited Liability Companies
The basic objective of asset protection engagements is to transfer assets to reduce or eliminate any exposure to liabilities in conjunction with the client’s estate plan or other financial concerns
Published on March 11, 2011