AICPA News Update - March 16, 2012
In this issue: AICPA Requests Further Work from FASB, IASB on Revenue Recognition Proposal; FASB Chairman Says FAF Could Announce Decision on Private Company Financial Reporting in May; HUD Waives Compliance Audit Requirement For Small Banks And Credit Unions; 2012 Top Technology Initiatives Survey Identifies Security as No. 1 Concern; Free Tax Season Resources from
Published on March 16, 2012
AICPA Launches Multiyear Campaign Promoting CPAs as the Premier Providers of Tax Services
The AICPA has mobilized a multiyear campaign to reduce consumer confusion about the difference between CPA providers of tax services and tax preparers
Published on January 01, 2011
The Bread and Butter of Corporate Taxation Expensing
M&A may be exciting (or at least as exciting as tax law gets), but the bread and butter of corporate tax practice is in reducing current year taxable income and the best way to do that is to ensure that costs paid in the year don’t have to be capitalized.
Published on May 13, 2010
The Challenge of Contributing Off-Spec Food to Charity
Donations of “off-spec” food may not result in a charitable contribution deduction greater than the tax basis of the food inventory because of the difficulty of determining the proper tax basis and FMV for the food.
Published on March 01, 2013
AICPA News Update - June 15, 2012
In this issue: OMB Releases Draft 2012 Compliance Supplement for Audit Planning, Ethics Approves Revisions to Nonattest Services and Other Changes, Importance of Strengthening Ethical Culture Stressed in New CGMA Report, TPA Issued Regarding Combining Going Concern Emphasis with Another Emphasis-of-Matter Paragraph, Reporting on a PMA or an EPA for Electronically Prescribing Controlled Substances, Inspiring
Published on June 15, 2012
AICPA News Update - April 20, 2012
In this issue: AICPA White Paper Explains COSO’s Proposed Updated Framework, AICPA Chairman: New Opportunity for CPAs Reporting on Controls at Service Organizations, Tangible Property Regs Need More Work to Help Taxpayers, SEC Study on Private Extraterritorial Securities Fraud Contains No Recommendations for Expanding Liability Provisions, Discover the Concept of Shared Value, Free AICPA Webinars
Published on April 20, 2012
Restaurant Management Company May Not Defer Recognition of Income from Gift Card Sales
The IRS has determined in a legal advice memorandum (20093801F) that a restaurant management company may not defer income recognition from the proceeds of gift card sales under Regs. Sec. 1.451-5 or Rev. Proc. 2004-34.
Published on January 01, 2010
AICPA News Update Vol. 13 No. 16
FREE Infocast for Young CPAs!
Published on April 16, 2010
Payments to Related Entities Are Dividends, Fail Independent-Investor Test
The Seventh Circuit held that a C corporation’s payments to entities owned by its shareholders for consulting services were disguised dividends.
Published on October 01, 2012
Check-the-Box A Trap for the Unwary
It has never been easier to effect the choice of operating as a sole proprietorship, partnership, or corporation for federal income tax purposes; however, sometimes unforeseen problems can result.
Published on April 01, 2013