The Fiscal Fix 

    Helping AICPA Members Move Past the Fiscal Cliff 

    Now that much of the tax uncertainty related to the fiscal cliff is over, you have an unprecedented opportunity to demonstrate your value to your business, client or organization by providing guidance, planning, and tax expertise. The AICPA created this page to serve as a one-stop shop to provide insight into what is happening in Washington and how that affects you and your employer or clients.

     

    News & Analysis

    Client Communications

    Resources & Events

    Get news and tax planning insights at the Journal of Accountancy's dedicated tax cliff page

    Cliff Law Reconfigures Tax Preparation and Planning

    After the Cliff:  The  uncertainty still lingers after the new tax law but can we at least find a new name for it?


    Save money and time by using the free resources in the Tax Practitioner Toolkit, updated for 2013.  Materials include short blurbs for your website or client newsletter, tax tweets, ads, and brochures.  

    Use the Toolkit client letters to individuals and small business owners to educate your clients about the new law. 

    Listen to Bob Keebler's podcast on planning opportunities in the American Taxpayer Relief Act.

    Learn more about the Interactive Tax Checklists and how they can simplify  return preparation at your firm.

    Helpful concise overview of current debt ceiling issue

    After the Fiscal Cliff - What's Next?

    While the American Taxpayer Relief Act resolved uncertainty for several expiring tax laws by making many provisions permanent, many issues are still looming that will affect taxpayers. The AICPA will be monitoring and providing analysis and resources for unresolved topics such as:

    • Temporary provisions in the law such as 50% bonus depreciation and various credits for individuals
    • Looming automatic budget cuts of almost $1 trillion (to reduce the deficit) that would affect businesses and organizations with federal contracts
    • Debate over raising the debt ceiling
    • The roll-out of the tax provisions of the Affordable Health Care Act
    • The impact of the new law on higher income taxpayers and related planning strategies
     

    Webcasts & CPE Options

    AICPA offers a variety of webcasts and other learning resources to help you keep up and stay ahead.  

    CPE & Events page for additional webcasts on a range of tax and planning issues.  Also, try our tax products page for other publications and resources.

     

    Tax Section Resources

    Our expert CPA volunteers are hard at work updating the Section’s tax practice tools and resources for the next busy season. Our tax practice resources are different because they come from experienced practitioners just like you! 

    • AICPA Interactive Checklists - Easy to learn and use, these checklists cover most types of tax forms and use the content members have trusted for decades.  Free for Tax Section members.
    • Tax Season Resource Page - Tax Section tools, events and info in one place. 
     

    Financial Planning

    With the enactment of the American Taxpayer Relief Act (ATRA) and the  3.8% surtax, tax laws have become much more complex and the integration of tax planning with your client’s investment, retirement and estate planning strategy is critical. As your clients turn to you to help them navigate these complexities, use the following resources to save time:
     

      Business and Industry Issues

    The impact of the uncertainty goes beyond tax preparation and financial planning. Businesses need to plan and make decisions and rely on their CPAs to help guide them. The resources below can help:

    • The Health Care Reform Center offers a host of tools to help you guide your client or organization through the rollout of this comprehensive law including:
      • a timeline of when tax provisions will kick in  
      • a customizable brochure to speak to employers about the impact of the law (member log in required)
    • Also, check out the PCPS Health Care Toolkit available to all AICPA members.
     

    AICPA Calls for Simplicity, End to Uncertainty

    As part of AICPA's overall tax reform thought leadership, the AICPA's tax reform task force is talking to policy makers and developing recommendations to help lawmakers as they consider comprehensive tax reform. 

    Check out the Top 10 Tax Administerability Issues we provided lawmakers that highlights key areas of concern for taxpayers and practitioners.

    To learn more about the AICPA's principles and positions on tax reform, go to our tax reform website or take a look at Tax Reform Alternatives for the 21st Century

    To help our members understand the issue, manage clients’ uncertainty and provide guidance to employers and others, the AICPA has prepared a backgrounder on the federal debt ceiling.
     




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