PFP Division 2012 Year in Review 


    With unprecedented uncertainty in 2012 coupled with the unique opportunity for CPA financial planners to affirm their value by proactively planning for their clients, the AICPA Personal Financial Planning Division has sought to provide the latest information, tools and advocacy to support PFP Section members, inclusive of CPA/PFS credential holders, as they serve their clients.

    2012 kicked off with a celebration of the 25th Anniversary of the CPA/PFS credential at the Advanced PFP Conference in Las Vegas with special recognition of Distinguished Service Award winner, Karen Goodfriend, CPA/PFS. Here’s a look back at the various milestones, as well as member benefits released or revised in 2012: 

     



    Milestones

    News & Communications

    Special Web Pages Bringing Together Resources on Hot Topics

    Webcasts & Podcasts

    Guides and Publications

    Checklists, Charts and Articles

    Client Communications

    Marketing & Media

    • Major media coverage of CPA financial planners and CPA/PFS credential holders in outlets including The New York Times, The Wall Street Journal, CNN Money and Fox Business
    • Enhanced CPA/PFS Media Advocates program with quarterly training opportunities and quarterly press releases available for PFS credential holders to use in their local markets
    • New CPA/PFS Financial Planning Insights Panel – first survey attracted interest from Bloomberg, Forbes and CNBC (related customizable press releases are exclusive to panel members)
    • Customizable press release: Advanced PFP Conference attendance (also CPA/PFS specific press release)
    • Customizable press release: Tax Time Right Time for Financial Planning (CPA/PFS only)
    • Customizable press release: Money Conversations with Aging Parents (CPA/PFS only)
    • Customizable media pitch: Long Term Care Q&As (CPA/PFS only)

    PFS Exam

    Conferences, Live Education and Networking

    • 2012 AICPA Advanced Personal Financial Planning Conference (higher rated in recent years than in its entire history, providing excellent speakers and ample opportunities to connect with like-minded peers. Don’t miss 2013 conference on Jan 21-23.)
    • 2012 Implementing PFP Services: Step-by-Step Plans for Success
    • 2012 PFS Exam Review Class
    • Making the Media Your Financial Planning Partner (Complimentary workshop for CPA/PFS holders, email financialplanning@aicpa.org to participate in the 2013 session.)
    • Launch of family office services networking group in April 2012

    Member Discounts

    Advocacy
    Estate Tax

    • AICPA Requests Permanent Extension of the Portability Relief (Sept. 2012)
    • AICPA Submits Comments to IRS on Transfers from Irrevocable Trusts (June 2012)
    • AICPA Submits Written Testimony for “Planning for the Death Tax: Can Small Businesses Survive?” Hearing (June 2012)
    • AICPA Suggests a Full Deduction for Administration Costs of Estates and Trusts (May 2012)
    • AICPA Submits Comments on Estate Tax Election to Use the Alternate Valuation Method (Feb. 2012)
    • AICPA Suggests Consistent Treatment of Estate and Trust Federal Tax Payments (Jan. 2012)

    Financial Services Reform

    • AICPA Advocacy on Investment Adviser Oversight (June 2012)
    • AICPA Urges Congress to Keep Investment Adviser Oversight with SEC (April 2012)

    Tax Matters

    • AICPA Comments on Proposed Revisions Circular 230 (Dec. 2012)
    • AICPA Board Adopts Resolution to Promote Fiscal Responsibility (Nov. 2012)
    • AICPA Submits Comments to IRS on Prop. Regs. Regarding Shareholder Debt of S Corps (Nov. 2012)
    • AICPA Suggests Improvements to the Partnership De Minimis Section 704(b) Prop. Reg. (Nov. 2012)
    • AICPA Letter on Pro Rata Distributions and the Creation of a 2nd Class of Stock for S Corps (Oct. 2012)
    • AICPA Suggests Legislative Proposal for Form 1041-A Filing Exception for Trusts with Charitable Deductions Only from Flow-Through Entities (Oct. 2012)
    • AICPA Says Congress Must End Tax Uncertainty (Sept. 2012)
    • AICPA Calls for Changes in IRS’s ITIN Procedures (Aug. 2012)
    • AICPA Alerts IRS: Erroneous Letters to Taxpayers Filing Foreign Trust Form Widespread (Aug. 2012)
    • AICPA Tells IRS: Cost Basis Reporting Needs to be Delayed (July 2012)
    • AICPA Council Visits Capitol Hill to Promote Need for Greater Transparency in Government Finances (May 2012) (See video: What’s At Stake: A CPA's Insights into the Federal Government's Finances and Total Tax Insights Calculator)



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