Lotus® users, please view the web version of the newsletter here.
 
1
  Please add Tax_Insider@e.aicpa.org to your Address Book.
View email as a web page.
1
AICPA
May 15, 2014
Tax Insider
AICPA
  IN THIS ISSUE:   > Articles   > Sponsored Editorials   > News   > CPA News to Know   > Webcasts   > Video  
Feedback  Contact Us
 
 
 
Care.com HomePay  We eat nanny taxes for breakfast. Trust the household payroll specialists.
Articles
   
What's missing from Camp's tax reform proposal?
By Annette Nellen, Esq., CPA
At 979 pages long, it's hard to believe it does not cover everything. Here's a brief look at what it includes and a longer look at what's missing.
   
 
   
Foreign bank account reporting
By Karen M. Nakamura, CPA
FBARs must now be e-filed. Here's what practitioners need to know to comply before the June 30 deadline.
   
 
Back to Top   
Wolters Kluwer  Change your game. Improve your odds with Wolters Kluwer, CCH.
Sponsored Editorials
  Care.com  
A quick checklist for your "Nanny Tax" clients
Sponsored by Care.com
By using this checklist during the year, you can help your families avoid expensive, time-consuming employment mistakes and ensure that you're not wasting time dealing with last-minute fixes.
   
 
  Thomson Reuters  
Strategy in the cloud
Sponsored by Thomson Reuters
There is no "one size fits all" when it comes to cloud-based applications use and policies.
   
 
  Wolters Kluwer, CCH  
Real-world strategies for effective document management
Sponsored by Wolters Kluwer, CCH
Free white paper: Learn key considerations for effective document management, including how to evaluate features, avoid potential roadblocks, and implement best practices.
   
 
Back to Top   
News
 
Final rules on fiduciary fees are issued
The IRS issued final regulations on the controversial question of which costs incurred by trust and estates are subject to the 2% floor on miscellaneous deductions under Sec. 67(a).
   
 
 
Accounting method change procedures for sales-based royalties and vendor allowances are announced
Taxpayers adopting the rules for sales-based royalties and vendor allowances under Sec. 263A and Sec. 471 were given new procedures for obtaining automatic consent to accounting method changes to conform to those rules.
   
 
 
Tax owed on full sale price where taxpayer won't provide cost basis information
A taxpayer who refused to provide cost basis information for securities he sold must pay over $5 million in tax after the 11th Circuit agreed with the Tax Court that he must treat the entire sales price as capital gain.
   
 
 
Tenth Circuit throws out IRS summonses
In a decision that creates a split from five other circuit courts, the Tenth Circuit quashed IRS summonses that were issued after the 23-day period required under Sec. 7609(a)(1).
   
 
Back to Top   
Featured AICPA Products
  The CPA's Guide to Financial and Estate Planning
This guidebook for professionals who structure, tailor, and administer financial and estate plans covers estate, tax, and retirement planning as well as investment and risk management. It examines the techniques used to set and meet the financial goals of clients and their families.
 
  Tax Rate Evaluator: A Graphical Calculator for Tax Planning After ATRA
This Excel-based software will enable you to minimize the effects that the new tax structure has on your clients and institute best practices that will yield benefits this year and beyond. The 15-year projection calculators will ensure that your clients come for planning advice this year and keep coming back to you for advice year after year.
 
  Accounting for Deferred Income Taxes
This resource can help you understand the rules of ASC 740 (formerly known as SFAS 109 and FIN 48) and how these rules establish guidelines for income tax accounting, including the statement of financial position, classification of deferred tax accounts, and disclosures.
 
  Business Ethics for Tax: Real-World Business Ethics for Tax Practitioners
Explore case studies drawn from real-life situations involving CPAs in tax practice. From tax shelters to preparing small business tax returns, learn about ethical issues in the context of tax services and taking positions on tax issues that range from "probable" to "more likely than not" to a "realistic possibility."
 
Didn't find what you were looking for? Visit the AICPA Store
Back to Top    
Thomson Reuters Checkpoint  Get the right information about new tax developments right now. Right. Now.
AICPA Member Discount Program
.
  Lenovo  
AICPA members save 27% on select Lenovo U and Z series laptops, 23% on K, Q, and H series desktops and more. Valid through 5/31/14. Click here for details.
 
line
  Hertz(R)  
Save an additional 10% off select leisure weekly or weekend rentals with PC# 197610. Valid for vehicle pick up through 6/22/14. Click here for details.
 
line
  Dell  
Save 40% on the list price of any Dell PowerEdge server over $1299 with coupon code 9H5?PT?M?2GPVJ. Valid through 5/31/14. Click here for details.
 
Back to Top    
 
 
Thomson Reuters Checkpoint Learning  New CPE courses and webinars.
Sponsored Links
   
The right information, right now.
Only on Thomson Reuters Checkpoint.
Improve your odds for next tax season.
Wolters Kluwer, CCH has the tools to help you change your game and grow your firm.
CPA News to Know
1
1 IRS e-services: Where are we now and where are we going?
 
1
1 IRS issues 2015 inflation adjustments for HSAs
 
1
1 AICPA proposes change to net investment income and regular income tax thresholds for estates and certain trusts
 
1
1 Tax planning is a critical factor in financial planning
 
1
1 Mobile workforce bill should be enacted, AICPA says
 
1
1 Cash-method accounting for passthroughs and personal service corps should be retained
 
1
1 In the news: It's never too early to think about taxes
 
1
Upcoming AICPA Webcasts
1
  May 19 Proactive Planning: How Your Peers Are Advising Their Individual Clients in 2014
 
1
  May 20 Prudent Diversification Practices for Investment Fiduciaries
 
1
  May 29 Comfort Letters for Tax Clients
 
1
    View webcast calendar
 
Video
   
How to fight fatigue
Three CPAs offer tips on how to fight fatigue, both during busy season and in transition periods.

 
CPA
Insider
Career
Insider
Corporate Finance
Insider
Corporate Taxation
Insider
Delivers need-to-know news of the profession, hard-hitting commentary, recommended products and professional development resources to more than 216,000 AICPA members every week.
Clues in more than 105,000 CPAs to great job opportunities, plus powerful tools, guides and research for getting their career to the next level.
Covers financial management and corporate compliance issues, job opportunities, career advancement strategies, self-assessment tools, compensation research and hiring trends for more than 80,000 B&I CPAs and other financial professionals.
Delivers need-to-know news of the profession, hard-hitting commentary and professional development resources for more than 70,000 corporate taxation professionals.
  QUICK LINKS:   > Industry News      > Video Snacks   > TechByte   > Join AICPA      > Advertise      > Follow us     > Like us    
  MORE AICPA PUBLICATIONS:  > Journal of Accountancy      > The Tax Adviser      > CPA Letter Daily  
  Click here to select your email and newsletter preferences or to change your email address at any time.

For questions about prior orders, membership or related issues, please email service@aicpa.org or call 888-777-7077. Publication of an advertisement in Tax Insider does not constitute an endorsement of the product or service by Tax Insider, CPA2Biz, Inc. or the AICPA.
LEGAL NOTICES

AICPA, 220 Leigh Farm Road, Durham, NC 27707-8110
© 2014 AICPA Inc. All Rights Reserved.
Tax Insider
Contact the Editor Contact Us
Corporate Information
About CPA2Biz | Join AICPA
Unsubscribe
Click here to Unsubscribe from Tax Insider.