IRS Issues Interim Relief on More-Likely-Than-Not Penalties
On December 31, 2007, the IRS indicated that, if a position satisfies the substantial authority standard, practitioners will not be required to disclose the position nor be subject to a section 6694 preparer penalty if they meet the requirements outlined in Notices 2008-11, -12, and -13.
Published on March 22, 2010
AICPA Technical Comments to Congress on Proposed Expatriation Legislation - March 21, 2002
...overview of legislative proposals on the expatriation tax and comments on suggested changes to the immigration law with respect to tax avoidance. AICPA wants to maintain simplicity, and eliminate conflicts & inconsistencies between existing laws
Published on March 14, 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 Supports Senator Ayottes Bill Exempting Valuation Specialists from Fiduciary Status
The CPA Advocate: August, 2012. The AICPA believes that appraisers of employee stock ownership plans should not be considered fiduciaries under ERISA and recently sent a letter to Senators asking for them to cosponsor S. 1232, a bill that would exempt valuation specialists from that status.
Published on August 14, 2012
ERISA Fiduciary Definition - Appraisers of Employee Stock Ownership Plans
The AICPA believes that CPAs who perform valuation services for employee stock ownership plans (ESOPs) should not be defined as fiduciaries under the Employee Retirement Income Security Act (ERISA). Rather, the AICPA believes that the U.S. Department of Labor (DOL) should implement rules that would require appraisers of ESOPs to
Published on April 03, 2013
AICPA Offers Comments on Generation-Skipping Transfer Safe Harbor Regs.
Safe Harbor Suggestions under Proposed Section 2642(g) Regulations.
Published on September 12, 2012