Why and How to Conduct a Tax Practice Inspection

Article:  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 policies and procedures manual
Published on January 28, 2011

Tax Practice Quality Control Guide

Article:  The AICPA has provided substantial guidance to practitioners over the years on quality control as well as guidance regarding tax practice reviews, which are an integral part of the quality control process. It is important that all members of the firm (partners and employees) understand the firm's commitment to the
Published on January 28, 2011

Making the Most of Qualified Offers

Article:  One little-used option for resolving tax issues while in IRS Appeals is to submit a qualified offer under Sec. 7430(g). Besides making the taxpayer eligible for an award of costs, the submission of a qualified offer will often focus the IRS’s attention on the taxpayer’s case and perhaps lead to
Published on January 28, 2011

IRS Announces Release Date for 1040 Modernized E-File Program

Article:  The IRS has announced a release date of August 2009 for the modernized e-file (MeF) Form 1040.
Published on May 10, 2010

Fin 48 and State and Local Income Taxes

Article:  Scott Salmon, CPA, M.Acc. The required adoption of Financial Accounting Standards Board Interpretation No. 48, Accounting for Uncertainty in Income Taxes (FIN 48), for enterprises with fiscal years beginning after December 15, 2006, has placed increased s
Published on April 19, 2010

Mere Execution of Service or Insurance Contract Does Not Satisfy All-Events Test

Article:  Rev. Rul. 2007-3 holds that the mere execution of a service or insurance contract by an accrual method taxpayer/payor (TP) does not satisfy the all-events test for incurring a liability.
Published on May 21, 2010

Interest-Free Period Under Sec. 6601(c)

Article:  The IRS recently provided some guidance on when underpayment interest is suspended under Sec. 6601(c).
Published on January 28, 2011

The Qualified Offer The Taxpayers 90-Day Letter

Article:  Practitioners can use the qualified offer to get a case resolved, or hopefully at least reviewed, within 90 days, and can use the qualified offer to impose administrative and litigation costs on the government when it refuses to accept a reasonable settlement offer
Published on May 10, 2010

The Rising Popularity of SMLLCs in Tax and Business Planning

Article:  This article discusses some common situations in which the single-member LLC has become an entity of choice and identifies some potential pitfalls regarding the use of SMLLCs.
Published on May 10, 2010

Sales Tax Collection by Online Vendors

Article:  Amazon.com, a retail online vendor, recently suffered a setback in a New York court, where it was contesting a newly enacted New York statute requiring online vendors with no direct physical presence in New York to collect sales tax on goods sold into the state.
Published on January 28, 2011

Nonphysical Injury Awards After Murphy

Article:  The taxation of nonphysical injury awards is far from settled, and taxpayers and practitioners should be diligent in monitoring future developments.
Published on May 03, 2010

The Effect of IFRS Implementation on Tax

Article:  The primary goal of this article is to explain how the implementation of IFRS (whether through convergence or adoption) would affect tax.
Published on January 28, 2011