Where to Disclose Form 8938 and/or FBAR - 2011 Filings

Tools:  This table helps one identify which foreign financial assets and accounts must be disclosed for 2011 on:  1) Form 8938, Statement of Specified Foreign Financial Assets; 2) Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (commonly referred to as FBAR); or, 3) both.  The table is based
Published on April 23, 2013

Where to Disclose Form 8938 and / or FBAR

Tools:  This table helps one identify which foreign financial assets and accounts must be disclosed on:  1) Form 8938, Statement of Specified Foreign Financial Assets; 2) Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (commonly referred to as FBAR); or, 3) both.  The table is based on information and guidance available as
Published on January 27, 2012

Using Family Partnerships and Refuting IRS Challenges

Article:  This is an article highlighting the AICPA's position concerning the legitimate use of family partnerships. In particular, the AICPA takes exception with the IRS's refusal to recognize for transfer tax purposes the validity of many family partnership's under examination.
Published on September 05, 2012

AICPA 2007 Comments on Redesigned Form 990

Comment Letter:  AICPA comments on IRS re-designed Form 990. IRS plans to implement the new form, effective for 2009 filing season (2008 Forms 990).
Published on November 12, 2012

2/22/2013 Tax E-Alert IRS Releases Additional Forms, 7216 Guidance Deferred, Tax Reform Video, and New Tools for Tax Sea...

Article:  In this issue IRS Releases Additional Forms, 7216 Guidance Deferred, Tax Reform Video, and New Tools for Tax Season and Beyond and more..
Published on April 16, 2013

2005 Checklist for Accountability

Tools:  Take the ""Accountability Challenge""! This checklist and quiz produced by Independent Sector is designed to help exempt organizations understand requirements for accountability and strengthen their transparency and governance.
Published on April 09, 2013

TIGTA Recommends Improvements to IRS Cybersecurity System

News:  TIGTA reports that the IRS’s computer security response center is performing effectively, but further improvement is needed.
Published on April 05, 2012

2011 FBARs Must Be Received by Treasury by June 29, 2012 and Other Important Information

Article:  Calendar 2011 FBARs must be received by Treasury by June 29, 2012.  Under the law, the FBAR must be received by Treasury by June 30, however, unlike income tax filings, the FBAR due date is not extended to the next business day when the deadline falls over a weekend, as
Published on May 30, 2012

January 20, 2012 Tax E-Alert - Interactive Tax Checklists

Newsletter:  January 20, 2012 Tax E-Alert.  In this issue:  Interactive Tax Checklists; Transition Relief for January 17 reporting deadline; Taxpayer Advocate Releases Annual Report; AICPA submits comments to Congress on Estate & Trust Federal Tax Payments; Free Tax Season Resources
Published on January 26, 2012

December 7, 2012 Tax E-Alert New Medicare Surtax Proposed Regs, Updated ITIN Guidance, FAQs on SSTSs No. 1 Tax Return Po...

Newsletter:  In this issue New Medicare Surtax Proposed REgs, Updated ITIN Guidance, FAQs on SSTSs No. 1 Tax Return Positions, New 2-part Busy Season Readiness Webinar Series, Rollout of the 2012 Tax Checklist has begun and more...
Published on April 23, 2013

February 24, 2012 Tax E-Alert - Top News, Filing and Disclosure Issues, IRS News and more

Newsletter:  This Newsletter contains the following articles:  Payroll Tax Cut, Form 1099K Reporting Requirements, The President’s Framework for Business Tax Reform,  Electronic Partner K-1,  UTP, Form 8938, FBAR, FFIs, Portability, Alternate Valuation Method, Power of Attorney Form.
Published on February 27, 2012

January 06, 2012 Tax E-Alert - What Congress Left Behind in 2011

Newsletter:  January 06, 2012 Tax E-Alert.  In this issue:  What Congress Left Behind; 2011 Tax Practice Guides and Checklists; 1099 Requirements Reminder; Foreign Financial Asset Reporting Regulations issued; PTIN Requirements for Exempt Organizations; Changes to FUTA Tax Rates
Published on January 26, 2012

AICPA Comments on IRS Exempt Organization Enforcement Efforts

Comment Letter:  This April 12, 2004 letter from the AICPA Exempt Organization Taxation Technical Resource Panel to the Advisory Committee on Tax Exempt and Government Entities discusses enforcement and compliance processes and proposes a Form 990 redesign, a redesign of the exemption application process for section 501(c)(3) organizations, and new applications for
Published on April 17, 2013

Basics of 2003 Offshore Voluntary Compliance Initiative

Article:  On January 14, 2003, the IRS issued a revenue procedure (Rev. Proc. 2003-11) on an offshore Voluntary Compliance Initiative (VCI) to give individuals using offshore credit cards or similar tax-avoidance schemes the chance to ""make things right"" in exchange for information on the promoters.
Published on May 11, 2012

The Basics of the Offshore Voluntary Compliance Initiative (VCI) - 2003

Article:  On January 14, 2003, the IRS issued a revenue procedure (Rev. Proc. 2003-11) on an offshore Voluntary Compliance Initiative (VCI) to give individuals using offshore credit cards or similar tax-avoidance schemes the chance to ""make things right"" in exchange for information on the promoters.
Published on May 01, 2013