AICPA News Update Vol. 13 No. 22
Ballot Vote to Enhance Membership Admission
Published on May 25, 2010
Special News Update - Spring Council 2013 Highlights
The AICPA governing Council’s spring 2013 meeting was held in Washington, D.C. this week. AICPA leaders from each of the 50 states, the District of Columbia, Puerto Rico, the Virgin Islands and Guam attended the Council meeting.
Published on May 21, 2013
Credit Ratings Removed From Regulations
The IRS issued final regulations that remove all references to and all requirements of reliance on “credit ratings” from Treasury regulations.
Published on November 01, 2013
IRS Proposes Rules on Sec. 1256 and Notional Principal Contracts
The IRS issued proposed regulations clarifying when swap contracts and certain similar agreements will be subject to mark-to-market accounting and the other rules of Sec. 1256
Published on January 01, 2012
New Continuity-of-Interest Regs. Expand Definition of Qualifying Stock Recipients in a Reorg.
Treasury recently finalized regulations, effective for transactions occurring after December 12, 2008, for applying the continuity-of-interest (COI) requirement to insolvent corporations (T.D. 9434).
Published on April 01, 2009
Congress Passes Pension Amendments
The Worker, Retiree, and Employer Recovery Act makes various technical corrections to provisions of the Pension Protection Act of 2006, as well as enacting pension provisions that relate to the current economic crisis.
Published on February 01, 2009
New Directives from the LMSB
The IRS Large and Mid-Size Business (LMSB) Division has issued several new directives related to issues targeted under its issue-tiering strategy.
Published on January 01, 2010
Is Office Artwork Depreciable Property
Whether office artwork and decor is depreciable depends on whether the decorations are considered “valuable and treasured” art pieces or just plain tangible property used in the trade or business.
Published on August 01, 2012
Guidance Issued on Interest Exceeding Acquisition and Home Equity Indebtedness Limitations
The IRS recently released guidance for allocating excess mortgage interest expense.
Published on May 01, 2012
IRS Continues to Challenge Deferral of Revenue from Gift Cards
In recent years, due to the increasing use of gift cards and the disparity between the federal tax accounting and financial accounting treatment of advance payments, there has been inconsistency among taxpayers and confusion as to the proper timing of recognizing income from gift cards.
Published on June 01, 2009