Uncertainty over Fate of Federal Tax Provisions Complicates Year-End Planning for Businesses and Individuals, Say AICPA ...
The AICPA asks for clarity from the federal government on tax provisions where it is unclear whether extensions will be granted, complicating tax planning for businesses and individuals
Published on November 21, 2013
AICPA Offers Guidance on New Clarified Auditing Standards
The AICPA's new clarified auditing standards take effect next month, and the organization offers a wealth of materials to get practitioners up to speed on the transition.
Published on November 28, 2012
AICPA Comment Letter on COSO Internal Control Integrated Framework Exposure Draft
The American Institute of CPAs Internal Control Task Force submitted comments on the Committee of Sponsoring Organizations of the Treadway Commission’s (COSO) exposure draft, Internal Control – Integrated Framework (the updated Framework).
Published on April 04, 2012
AICPA Seeks Guidance from IRS about S Corporation Distributions
The AICPA explained that in its view, “adjusting the AAA balance for all ordinary distributions regardless of the timing relative to the redemption provides a more reasonable outcome in most circumstances. Since a complete redemption is a sale or exchange transaction, the presence of AAA is irrelevant for purposes of
Published on October 17, 2014
AICPA Announces Distinguished Achievement in Accounting Education Awards at Spring Council
The American Institute of CPAs will honor Janet L. Colbert and Donald E. Tidrick as the recipients of the 2013 Distinguished Achievement in Accounting Education Award. The announcement was made earlier today by Richard Caturano, CPA, CGMA, chairman of the AICPA at the Institute’s Spring meeting of Council.
Published on May 20, 2013
AICPA Submits Comments to IRS on Proposed Regulations Regarding Shareholder Debt of S Corporations
The American Institute of CPAs wrote the Internal Revenue Service on Nov. 13 supporting the IRS’s proposed regulation to clarify the proper treatment of shareholder debt of S corporations. The AICPA also suggested that IRS include in the regulation an example it provided to help tax preparers better understand basis
Published on November 15, 2012
Most U.S. CPAs Support Giving U.S. Public Companies Option to Adopt IFRS, Survey Finds
A majority of CPAs support optional adoption of the International Financial Reporting Standards (IFRS), the emerging set of globally accepted accounting rules, according to a recent survey by the American Institute of Certified Public Accountants.
Published on October 18, 2011
AICPA, CIMA Seek Comment on Framework to Improve Business Forecasting, Decision Making
The Chartered Institute of Management Accountants (CIMA) and the American Institute of CPAs (AICPA) today proposed a comprehensive framework to bring consistency to management accounting practices around the world and help businesses make better, faster decisions. The organizations invite business leaders to review the proposal and offer feedback during a
Published on February 10, 2014
AICPA and CPA Societies for U.S. Territories Seek Clarification from Congress
The AICPA, the Virgin Islands Society of Certified Public Accountants, and the Guam Society of Certified Public Accountants submitted a letter to Congress on Aug. 7 requesting clarification regarding the section 1411 net investment income tax applicability to bona fide residents of the U.S. Virgin Islands, Guam, and the Commonwealth
Published on August 11, 2014
AICPA Recommends IRS Delay Matching of Documents Reporting Capital Gains and Losses
AICPA recommended that the Internal Revenue Service delay matching the basis information the law requires brokerage firms to report about taxpayers’ capital gains and losses with what taxpayers report on their income tax return.
Published on August 01, 2012