AICPAs Revised Confidentiality Rule, Sec. 7216, and the Tax Professional
Practitioners are encouraged to determine whether they comply with both Sec. 7216 and revised AICPA client confidentiality rules
Published on February 01, 2015
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
AICPA Tax Standards Strengthened
Revised AICPA statements on standards for Tax Services (SSTS) became effective on January 1, 2010, and provide high, enforceable ethical responsibilities for CPAs in providing tax services.
Published on February 01, 2010
When Plaintiffs in Class Actions Pay Tax on Attorneys Fees
The taxation of attorneys’ fees in opt-out class actions has become relatively clear, as long as certain elements are established. In opt-in cases, class members risk being tagged with income in the amount of the attorneys’ fees.
Published on November 01, 2008
AICPA News Update Volume 13 No. 13
In This Issue: Regulatory Alert, Business and Industry Guide from AICPA & more
Published on March 26, 2010
IRS Will Not Challenge OID Treatment of Interchange Fees
The IRS announced that it will no longer challenge whether interchange fee income earned by credit card issuers creates or increases original issue discount (OID) on a pool of credit card loans.
Published on January 01, 2011
Did Canal Corp. Sink the Leveraged Partnership Transaction
This item reviews the recent decision by the Tax Court in Canal Corp. and illustrates the limitations of the leveraged partnership exception to the disguised sale rules of Sec. 707(a)(2)(B
Published on April 01, 2011
Final Regs. Determine Amount of Tax Paid for Purposes of the Foreign Tax Credit
The IRS issued final regulations on determining the amount of taxes paid for purposes of the foreign tax credit.
Published on January 01, 2014
LB&I Explains Rules of Engagement in Examinations of Transfer-Pricing Issues
The IRS Large Business & International division released general guidelines and rules of engagement for LB&I examiners employed in the Transfer Pricing Practice and the International Business Compliance unit involved in the examination of transfer-pricing issues
Published on January 01, 2015
Effective Date Amended for Temporary Repair Regulations
The IRS issued technical amendments to address the effective date for the temporary regulations that apply to amounts paid to acquire, produce, or improve tangible property.
Published on February 01, 2013