Engagement Letter Fairness Opinion Fee Language May Affect Fees Taxation
Language used in investment banker (IB) engagement letters to implement fee payment arrangements can significantly affect the federal income tax treatment of such payments
Published on June 01, 2011
Setting Proper Boundaries With a Clear, Concise Engagement Letter
This column considers the contractual nature of engagement letters and addresses some common criteria that should be considered, and terms that should be included in, most engagement letters
Published on November 01, 2014
The Tax Adviser November 2014
Articles The Impact of the Net Investment Income Tax on Estates and Trusts By Donald T. Williamson Innoc
Published on November 03, 2014
IRS Correspondence Examinations
...returns. This item reviews the procedures by which returns are selected for review, how taxpayers should respond to correspondence, and IRS problems with timely response to taxpayer or practitioner letters
Published on April 01, 2011
General Guidance for Accountants and Auditors
A description of publications available on general corporations.
Published on January 07, 2015
The Need for Increased Due Diligence in Filing Extensions
This item reviews the requirements for filing for extensions, estimating tax liability, and paying all due tax liabilities.
Published on April 01, 2011
IRS Reverses Itself on Applying 70% Safe-Harbor Deduction for Success-Based Fees to Certain Milestone Payments
The IRS offers an elective safe harbor to deduct 70% of qualified success-based fees, and while certain “milestone payments” common to acquisition transactions do not qualify for the safe-harbor election, certain “eligible milestone payments” do.
Published on September 01, 2013
Why and How to Conduct a Tax Practice Inspection
A firm can use a tax practice inspection as a tool to test the quality of tax services provided to clients, to develop specific recommendations for improvement, and to prepare or update a tax services policies and procedures manual.
Published on June 01, 2009
Circular 230 Its Day-to-Day Impact on Tax Practices
While discussions about Circular 230 usually focus on the standards it imposes relating to tax returns and opinions, the breadth and scope of Circular 230 also regulates the day-to-day business operations of tax practitioners relating to fees, client solicitations, marketing and advertising, and the management of client files and records.
Published on February 01, 2012
Current Tax Return Disclosure Issues Involving Sec. 7216
Practitioners face some difficult scenarios in properly disclosing or using client tax return information. Multiple professional ethics pronouncements and federal and state legislative and administrative pronouncements all must be considered before acting.
Published on August 01, 2013