AICPA Participates in IRS Preparer Review Initiative
Michael Dolan, IRS Practice and Procedures Committee Chair, presented the AICPA’s views on July 30, 2009 on the IRS’s plan to issue recommendations later this year regarding regulation...
Published on January 24, 2013
Dura Pharmaceuticals, Inc. v. Michael Broudo
The AICPA has a strong interest in judicial decisions affecting the scope and bases of accountants' liability under the federal securities laws. The present case is of paramount importance to the accounting profession. Loss causation is an indispensable element of the private action available under Section 10(b) of the Securities Exchange Act of 1934, one that helps
Published on April 09, 2010
AICPA Asks IRS to Modify Form 990 Instructions
On March 31, 2006, the AICPA asked the IRS to clarify instructions for line 75c of Form 990, Return of Organization Exempt from Income Tax, believing the language to be too broad, risking unintended consequences. This document poses a number of questions regarding how the instructions apply to various common
Published on July 01, 2013
AICPA Urges IRS to Clarify Form 990 Instructions
The American Institute of Certified Public Accountants has urged the IRS to clarify its instructions on three lines of Form 990, which is the form filed by organizations that are exempt from federal income tax. The AICPA's June 15, 2006 comments request further clarification of several parts of Form 990: lines
Published on July 01, 2013
AICPA Letter Supports Financial Literacy for Youth
The CPA Advocate: April, 2013. The AICPA's National CPA Financial Literacy Commission recommended to a Senate panel that financial education begin in elementary school.
Published on April 29, 2013
AICPA Proposes Fiscal Year Flexibility for Emerging Small Businesses
This is AICPA's statement in support of allowing small businesses the flexibility to adopt any fiscal year end from April through November for tax purposes, as proposed in the Small Business Tax Flexibility Act of 2003 (H.R. 3225) for the record of the Subcommittee's September 23, 2004, hearing.
Published on May 20, 2013
AICPA-Endorsed Amendment to Whistleblower Bill Approved
The AICPA and state CPA societies successfully urged members of the House Capital Markets Subcommittee to approve an amendment to a bill that would protect investors by strengthening the whistleblower program established under the Dodd-Frank Act.
Published on February 01, 2012
GAO Study of Financial Planning
Dodd-Frank required the GAO to conduct a study on the effectiveness of existing regulation of financial planners, including tax advisors. The AICPA met with the GAO during the study to present the profession’s point of view. AICPA strongly opposed any new regulatory structure affecting CPAs as they are already comprehensively
Published on April 03, 2013
House Financial Services Panel Looks at Dodd-Frank Whistleblowing Rules
The CPA Advocate: May, 2011. Deloitte Deputy CEO and Vice-Chairman Robert Kueppers testified at House hearing that accounting profession is cocnerned Dodd-Frank Act does not take into account SOX internal reporting requirements.
Published on September 02, 2011
Whistleblower Rules under Dodd Frank Act
Dodd-Frank Act Sections 922 and 748 require the Securities and Exchange Commission and Commodities Futures Trading Commission to implement rules to pay cash awards of up to 30% in settlements over $1 million to whistleblowers who voluntarily provide original information about violations of the Securities laws and Commodity Exchange Act,
Published on February 05, 2013