February 14, 2012 Comment Letter by FinREC Regarding the proposed FASB Accounting Standards Update (ASU), Real EstateInv...
FinREC is pleased to offer comments on the proposed FASB Accounting Standards Update (ASU), ―Real Estate—Investment Property Entities (Topic 973). This document reflects the comments provided to FASB
Published on February 17, 2012
Tax Strategy Patents
On September 16, 2011, President Obama signed the America Invents Act, which contains a provision that eliminates the patenting of new tax strategy patents. The AICPA strongly supported this legislation and worked towards
Published on March 06, 2013
Net Investment Income Tax
Page that details information regarding NIIT (Section 1411).
Published on March 03, 2014
AICPA, State Societies Renew Push to Pass Bill Making Tax Code Accessible to All
The CPA Advocate: September, 2011. The AICPA and state CPA societies urged senators to pass the House version of a patent reform bill that would stop tax strategy patents.
Published on October 07, 2011
Partnership Tax Provisions in the Administrations 2014 Fiscal Year Budget Proposal
This is the AICPA webpage on the President's fiscal year 2014 budget proposals on partnership tax issues.
Published on April 15, 2013
Using Family Partnerships and Refuting IRS Challenges
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 19, 2012
Accounting and Financial Reporting Positions and Comment Letters
The Financial Reporting Executive Committee (FinREC) has issued the following comment letters to communicate its views and positions on accounting and financial reporting proposals issued by standard setters, such as FASB, GASB, and the IASB.
Published on July 25, 2014
AICPA Asks IRS to Apply Anti-Mixing Bowl Changes Prospectively Only
AICPA offers comments to the IRS and Department of Treasury on Revenue Ruling 2004-43, which specifically addresses the application of sections 704(c)(1)(B) and 737 to the distribution of property by a partnership following an assets-over partnership merger.
Published on July 18, 2013
Article/Guide to Section 643 Regs Defining Trust Income - 2005
An analysis of the revised regulations defining trust accounting income for tax years ending after January 2, 2004. This guide also examines how they affect the computation of fiduciary accounting income and distributable net income.
Published on September 12, 2012
AICPA Announces Release of Joint Report on Reform of Federal Wealth Transfer Taxes - 2004
...announcement of the joint AICPA-ABA report on transfer taxes that includes an assessment on the basis of simplicity, compliance, and consistency of enforcement-the temporary repeal of the estate and generation-skipping transfer (GST) taxes, the phase-out period, the continuation of the gift tax after repeal, the modified carryover basis rule
Published on September 21, 2012