A Road Map of Tax Consequences of Modifying Debt
As a result of the recession, many borrowers are “underwater” on their loans (the property is worth less than the loan balance). This has led to a substantial increase in debt restructuring activity.
Published on June 01, 2012
A New Road Map for CPAs Professional Conduct When Providing PFP Services
The PFP Executive Committee issued a statement to provide guidance to members and help them uphold the highest levels of integrity, professionalism, objectivity, and competence.
Published on March 01, 2014
Tax Court Uses Cost-to-Partition Approach to Value Fractional Interest Discount
A recent Tax Court case provides a road map for calculating the fractional interest discount in the absence of credible comparable sales data
Published on April 01, 2011
New Decanting Statutes Offer Road Map for Escaping Fiduciary Tax and Updating Trust Terms
As trust decanting statutes proliferate, federal and state taxing authorities must wrestle with the income, estate, and gift tax issues raised by decanting.
Published on April 01, 2013
AICPA News Update - August 3, 2012
In this issue: AAA and AICPA Release Pathways Commission Report, 2012 PCPS/TSCPA National Map Survey Has Been Extended, ASB to Vote on Issuance for Exposure Proposed Amendments to SAS No. 122, Working Draft of Proposed Audit and Accounting Guide, Not-for-Profit Entities...
Published on August 03, 2012
Redemptions in Conjunction with Partnership Mergers Can Create Unexpected Tax Consequences
...Editor: Frank J. O'Connell, Jr., CPA, Esq. The IRS has provided a road map for partnership mergers or consolidations in Regs. Sec. 1.708-1(c). When two or more partnerships merge or consolidate into a single partnership, the resulting partnership is, for...
Published on September 01, 2007
The Tax Adviser June 2012
...Articles Section 530 Relief for Worker Classification Controversies Claire Nash A Road Map of Tax Consequences of Modifying Debt Howard Ro
Published on September 16, 2013
AICPA News Update - June 1, 2012
In this issue: AICPA Comments on Potential Single Audit Revisions, House of Representatives Passes AICPA-Supported Mobile Workforce Bill, Make Sure Your Firm Counts: Participate in the 2012 National MAP Survey, How to Turn Data into Decisions, Get Mobile Access to All the Accounting News You Need through the New Journal of Accountancy News iPad
Published on June 01, 2012
IRS Determines That Dual Purpose Photovoltaic Property Qualifies as Energy Property
Many taxpayers calculating the amount of the energy credit available under Sec. 48 face a hurdle in determining whether certain structural components that serve a dual purpose qualify as energy property. In Letter Ruling 201043023, the IRS addresses this issue in the context of a photovoltaic (PV) curtain wall and
Published on February 01, 2011
AICPA News Update Vol. 13 No. 32
Member ballot in the mail; Accounting education commission announced
Published on August 06, 2010