Monthly tax news for July 2017 that includes a Letter from the AICPA Tax Executive Chair, Annette Nellen, the latest on tax reform, an update on Sec. 7345 passport legislation, and much more.
This series of frequently asked questions (FAQs) explains several privileges and protections that are relevant to a CPA who provides tax services, including the concept of attorney-client privilege, its implication on CPAs, and the use of Kovel arrangements
webpage providing guidance and resources on contacting the IRS
Identity theft is a growing area of concern for taxpayers and practitioners. The AICPA has created this page to provide members with information about preventing identity theft, including tips to provide clients, and steps to take if it occurs.
Tax Section webcasts, presentation slides, and handouts are archived and available for Tax Section members to watch on-demand (without CPE) for one year following the live event.
Practitioners are likely to have clients who owe taxes to the IRS and who are unable to
Letter from the AICPA Tax Executive Committee Chair: Embracing Uncertainties - The Reality (and Excitement) of Tax Work
The tax world is constantly plagued with uncertainties. Temporary rules are a standard feature of federal and state tax systems, and create uncertainty as to their extension or eventual passage into permanence. Because of laws that are often vague or incomplete, we cannot always answer client
Read the latest on the future of tax technology from the Letter from the Director as well as the latest on PTINs and simplified portability election guidance
As part of the Fixing America’s Surface Transportation Act, Sec. 7345 authorizes the IRS to notify the State Department of taxpayers who owe a seriously delinquent tax debt. The IRS certification will request action for denial, revocation, or limitation of the passport
Building a successful tax practice includes nurturing a strong relationship with your clients and the effective management of your staff. The foundation for a strong client relationship is engaging in effective communication that serves to draw out the relevant information you need to provide
When there is a disagreement with an IRS employee (such as a Revenue Agent or Revenue Officer) as to proposed adjustments to a tax return or proposed collection action, in most instances a taxpayer has the right to request a hearing with the IRS Office of Appeals. In the past,
As result of the Bipartisan Budget Act of 2015, Congress enhanced the IRS’s ability to audit large partnerships. The changes are expected to dramatically increase the audit rates for partnerships and will require partners to review and possibly revise their operating agreements. Here is
Our tax education resources for students and teachers helps accounting
Recommendations to help the IRS correctly track U.S. beneficiaries of foreign trust withholding credit.
The tax profession is changing – how are you preparing? You moved your data to the cloud and mastered Form 8879 digital signatures, but are you ready to compete with a robot for your tax clients? An equivalent to Rosie, the faithful housekeeper from the Jetsons, hasn’t materialized yet, but Watson
It is a good time to evaluate the options for your staff training since filing season is in the rear window and staff performance evaluations have been recently completed.
Partnership Tax Audit Considerations; IRS Authorizations Guidance
The UK vote to leave the EU, may have major implications for clients and tax practitioners. Here are answers to help address the most common questions raised by BREXIT.
Prominent CPAs provide success stories from their careers as tax accountants. They discuss how they became successful, challenges they have faced, and opportunities in the profession.
Our tax education resources for students and teachers helps accounting educators