Prospective Financial Information
A description of publications available on prospective financial information.
Published on September 30, 2014
Special News Update - Spring Council 2013 Highlights
The AICPA governing Council’s spring 2013 meeting was held in Washington, D.C. this week. AICPA leaders from each of the 50 states, the District of Columbia, Puerto Rico, the Virgin Islands and Guam attended the Council meeting.
Published on May 21, 2013
One-Year Extension of the ARRA Grant for Specified Energy Property
This item provides an overview of the Section 1603 renewable energy grant program, which was extended for one year by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.
Published on June 16, 2011
Concerns About CPA Letters to Third Parties
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 CPA signing the client’s suggested letter or writing one of her own?
Published on May 14, 2010
Valuation-Misstatement Penalty Applies to Tax Shelter Transactions
The Supreme Court held in that the Sec. 6662(b)(3) penalty for tax underpayments attributable to valuation misstatements applies to an underpayment resulting from a basis-inflating transaction that is disregarded for a lack of economic substance.
Published on February 19, 2014
Taxpayers Not Entitled to Question IRS Officials About Summonses
The Supreme Court held that a taxpayer is entitled to question IRS officials about the reasons the IRS issued a summons only if the taxpayer points to specific facts and circumstances that plausibly raise an inference of bad faith on the part of the IRS.
Published on August 31, 2014
IRS, DOL, Several States to Share Data on Worker Classification
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
A Closer Look at the IRSs Targeting of Tea Party and Other Groups for Review
In a report issued on May 14, TIGTA found that the IRS used inappropriate criteria to single out for review certain applications for tax-exempt status.
Published on June 30, 2013
Deadline for Equitable Innocent Spouse Claims Again Upheld
The Third Circuit held that the two-year deadline in Regs. Sec. 1.6015-5(b)(1) for filing an equitable innocent spouse relief claim under Sec. 6015(f) is valid because it is a permissible interpretation of the statute.
Published on May 03, 2011
Wheres My Canceled Check A Review of the Basics
Most people now receive only scanned images of their canceled checks; however, during an audit, some IRS requests for information insist on substantiating expenditures with front-and-back copies of canceled checks.
Published on June 30, 2012