Sample Client Letter for Surviving Spouses Needing to File Estate Tax Return to Elect Portability
This is a sample client letter for members to send to clients who are surviving spouses of individuals who died in 2011 or 2012. It discusses the portability of the estate tax exemption, a recent...
Published on March 09, 2012
AICPA Provides Guidance on FSA Certification Letters Overview
The CPA Advocate: September, 2012. AICPA heard from many members who were being asked by clients to certify income to meet a requirement by the Farm Service Agency (FSA) and worked with the FSA to develop a letter to meet the professional standards of our members
Published on October 10, 2013
AICPA Tells IRS Preparers Deserve More Info, Clarity on 2011 Office Visits
In a December 22 letter to the IRS Small Business Commissioner, Patricia A. Thompson, chair of AICPA’s Tax Committee, reiterated AICPA’s many concerns about the broad scope of the Preparer Letters and...
Published on January 28, 2011
AICPA to IRS Delay Upcoming Basis Reporting Deadlines
The CPA Advocate: March, 2014. The AICPA wrote to the IRS that three effective dates in final regulations to implement basis reporting requirements by securities brokers should be delayed by one additional year in order to reduce taxpayers’ compliance burdens.
Published on March 27, 2014
AICPA Urges IRS to Announce Shutdown Contingency Plan
The AICPA has asked the Internal Revenue Service (IRS) and Department of the Treasury to announce the IRS contingency plan that would be in effect in the event of a mid-January shutdown of the federal government.
Published on November 25, 2013
AICPA Questions IRS About Education Letters Sent to Exempts
March 26, 2004. This letter to the IRS Exempt Organizations Division addresses their recent sending of ""educational letters"" informing charitable organizations with contribution income that they are: (1) disclosing an amount less than 5...
Published on November 12, 2012
IRS Correcting Problem Flagged by AICPA
The CPA Advocate: October, 2012. After learning from the AICPA that taxpayers who file foreign trust forms are receiving erroneous letters from the IRS, the Service stopped issuing new letters and will work with the AICPA to resolve the systemic problem
Published on October 18, 2012
AICPA Flags Concerns about IFACs International Ethics Standards Boards Exposure Draft on Responding to a Suspected Illeg...
The CPA Advocate: December, 2012. The AICPA Professional Ethics Executive Committee identified a number of concerns about requirements the proosal would impose on professional accountants in public practice and business and suggested alternatives.
Published on December 19, 2012
AICPA Efforts and Updates on Erroneous IRS Form 3520 Letters
...The AICPA Foreign Trust Task Force continues its dialogue with the IRS regarding IRS erroneous letters regarding Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts. As was discussed in the October 1
Published on December 11, 2012
AICPA Monitoring PCAOB Forums for Auditors of Smaller Broker-Dealers
The CPA Advocate: August, 2012. The AICPA continues to advocate for a final PCAOB rule requiring inspections of auditors of clearing, carrying and custodial broker-dealers because these broker-dealers directly handle investor funds.
Published on September 19, 2012