Engagement Letter Fairness Opinion Fee Language May Affect Fees Taxation
Language used in investment banker (IB) engagement letters to implement fee payment arrangements can significantly affect the federal income tax treatment of such payments
Published on October 04, 2011
Sample Engagement Letter for a Compilation of a Financial Forecast
This excerpt from the 2012 edition of AICPA Guide Prospective Financial Information discusses a sample engagement letter for a compilation of a financial forecast
Published on January 22, 2013
Prospective Financial Information
A description of publications available on prospective financial information.
Published on June 19, 2013
General Guidance for Accountants and Auditors
A description of publications available on general corporations.
Published on November 01, 2013
New Compilation and Review Engagements Standard
In December 2009, the Accounting and Review Services Committee (ARSC) issued Statement on Standards for Accounting and Review Services (SSARS) No. 19, Compilation and Review Engagements (AICPA, Professional Standards), which includes the most significant changes to the compilation and review standards since 1978
Published on November 06, 2012
IRS Correspondence Examinations
...returns. This item reviews the procedures by which returns are selected for review, how taxpayers should respond to correspondence, and IRS problems with timely response to taxpayer or practitioner letters
Published on June 16, 2011
Why and How to Conduct a Tax Practice Inspection
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
Circular 230 Its Day-to-Day Impact on Tax Practices
While discussions about Circular 230 usually focus on the standards it imposes relating to tax returns and opinions, the breadth and scope of Circular 230 also regulates the day-to-day business operations of tax practitioners relating to fees, client solicitations, marketing and advertising, and the management of client files and records.
Published on August 24, 2012
IRS Reverses Itself on Applying 70% Safe-Harbor Deduction for Success-Based Fees to Certain Milestone Payments
The IRS offers an elective safe harbor to deduct 70% of qualified success-based fees, and while certain “milestone payments” common to acquisition transactions do not qualify for the safe-harbor election, certain “eligible milestone payments” do.
Published on August 31, 2013
CPAs and Comfort Letters The New Chocolate
For years, CPAs have been asked by third parties for verification, confirmation, certification, corroboration, authentication, or substantiation of their clients’ financial information. Negative connotations have often been associated with these requests.
Published on June 30, 2013