AICPA Seeks Guidance from IRS about S Corporation Distributions
The AICPA explained that in its view, “adjusting the AAA balance for all ordinary distributions regardless of the timing relative to the redemption provides a more reasonable outcome in most circumstances. Since a complete redemption is a sale or exchange transaction, the presence of AAA is irrelevant for purposes of
Published on October 17, 2014
AICPA Submits Comments to IRS on Proposed Regulations Regarding Shareholder Debt of S Corporations
The American Institute of CPAs wrote the Internal Revenue Service on Nov. 13 supporting the IRS’s proposed regulation to clarify the proper treatment of shareholder debt of S corporations. The AICPA also suggested that IRS include in the regulation an example it provided to help tax preparers better understand basis
Published on November 15, 2012
AICPA Recommends IRS Allow Small Businesses to File Electronically the Form Electing S Corporation Status
Small businesses should be able to file electronically with the IRS the form used to elect S corporation status, so that “taxpayers would have immediate, verifiable assurance of S election status through the e-Services program” the AICPA told the IRS in a May 5 comment letter...
Published on May 10, 2011
AICPA Proposes to Congress Changing Some Tax Filing Deadlines
The AICPA sent a proposal to Congress to change the due dates for tax return forms filed by partnerships, S corporations, C corporations, trusts and estates, and pension plans so that the information provided by those returns would cascade down and be available for use in filing other types of...
Published on October 22, 2010
Troy K. Lewis Named Chairman of AICPA Tax Executive Committee
AICPA has named Troy K. Lewis, CPA, CGMA chairman of its Tax Executive Committee.
Published on October 22, 2014
IRS and Treasury Department Officials to Speak at AICPA Fall Tax Division Meeting
The Fall Meeting of the American Institute of CPAs’ Tax Division is being held on Nov. 5, 2014, at the Marriott Wardman Park in Washington, D.C.
Published on November 04, 2014
AICPA Sends Tax Reform Recommendations to House Ways & Means Committee Working Groups
The American Institute of CPAs (AICPA) on April 10 and April 11, 2013 sent tax reform recommendations to five of the 11 working groups formed by the House Ways and Means Committee to study different areas of the Internal Revenue Code, as the Committee continues to examine how to accomplish
Published on April 29, 2013
CPAs Visit Capitol Hill to Talk Taxes
Top elected leaders of the accounting profession from all 50 states are visiting Capitol Hill today to talk to members of Congress about tax issues important to CPAs.
Published on May 24, 2011
Government Officials to Speak at AICPA Fall Tax Division Meeting on Nov. 6, 2013
The Fall Meeting of the American Institute of CPAs’ (AICPA) Tax Division is being held on Wednesday, Nov. 6, 2013, at the Gaylord National Resort and Convention Center in National Harbor, Md.
Published on October 31, 2013
AICPA Comments to IRS and Treasury on Material Participation of a Trust or Estate
The AICPA has submitted comments to the IRS and Department of the Treasury relating to the issue of material participation by a trust or estate in a trade or business for purposes of section 469 of the Internal Revenue Code.
Published on September 23, 2014