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AICPA
August 9, 2012
Tax Insider
AICPA
  IN THIS ISSUE:   > Articles   > News   > CPA News to Know   > Video  
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Best practices for scanning tax documents
Articles
   
Offshore disclosure program makes a third go-round
By Thomas R. Wechter, J.D., LL.M.
IRS reopens offshore voluntary disclosure program with an increased penalty and no deadline.
   
 
   
Pathway to tax reform
By Annette Nellen, Esq., CPA
Congress considers a plan for pursuing comprehensive tax reform in 2013.
   
 
     
False internet rumors about "real estate transaction tax" worry taxpayers
By Jack Hagel and Alistair M. Nevius, J.D./Journal of Accountancy
This article separates fact from fiction to help practitioners educate clients about how the 3.8% Medicare surtax works and how it won't apply to most home sales.
   
 
   
Taxation of frequent flyer miles
By Stanley E. Rose, CPA, MST/The Tax Adviser
Citibank angered its customers by sending Forms 1099-MISC reporting as income the value of frequent flyer miles received in a bank promotion for opening new accounts. Was this the correct tax treatment?
   
 
  GruntWorx  
Taking a "Less Paper" Tax Preparation Process to the Next Level
Sponsored by GruntWorx
In this case study, you will learn how Maloney + Novotny LLC got out from behind the technology curve to save 40% of tax preparation time.
   
 
Upcoming web seminars on annuities, Social Security, and Medicare; starting August 13.
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News
 
Prop. regs. would clarify who is subject to Sec. 274(n) limit on meal expenses
Who is subject to the 50% limit on deductions for meals when an employee or independent contractor is reimbursed under an expense allowance arrangement?
   
 
 
Self-employed can deduct Medicare premiums, IRS Chief Counsel advises
The IRS Office of Chief Counsel explains a change in a long-held stance.
   
 
 
Taxpayers who did not establish insolvency must recognize COD income
Documents that purported to show the value of the taxpayers' two homes were not enough to convince the Tax Court of the properties' value.
   
 
 
Tax Court upholds regulation requiring dependents be citizens in year tax benefits are claimed
Taxpayers whose children were U.S. citizens when tax returns were filed but not during the tax years at issue were rebuffed by the Tax Court.
   
 
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New In The Store
  In-Depth Estate Planning Strategies to Consider Prior to Year-End
On Aug. 29 at 1–2:45p.m. ET, Steven Siegel, J.D., LL.M., will dive deeper into a few essential financial, estate, and tax planning strategies that should be considered in 2012, specifically as they relate to gifts, GRATs, and defective trusts. This webinar is free for PFP Section members, inclusive of PFS credential holders without optional CPE or discounted CPE for purchase for PFP/PFS and Tax Section members. This seminar is available for purchase to all.
 
  AICPA Sophisticated Tax Planning for Your Wealthy Clients
Oct. 22–23—New York. Learn the latest techniques to help your wealthy clients retain, accumulate, and transfer wealth. Experts, hand-picked by Sid Kess, will share cutting-edge strategies and changing government regulations that affect your wealthy clients.
 
  The Adviser's Guide to Sales and Use Tax: State and Local Compliance and Planning Opportunities
State legislatures are facing severe budget shortages, and state governments are looking for ways to maximize their tax revenues. This book covers what you need to know, from both planning and compliance perspectives, to help your clients understand and comply with the evolving state and local tax rate structure.
 
  E-Services in Your Tax Practice
Learn more about the different services available and tips on how to use them effectively, and walk through some routine processes.
 
  AICPA's Annual Tax Update: Corporations and Pass Through Entities
Find out about the latest federal tax law changes, court decisions, and IRS pronouncements related to partnerships, LLCs, and C and S corporations.
 
Didn't find what you were looking for? Visit the AICPA Store
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AICPA Member Discount Program
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Get the OptiPlex 390 desktop for only $519 (after $395 savings). Offer ends 8/31/2012. Click here for details.
 
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AICPA Members save up to 29% on select FedEx® shipping services. Click here for details.
 
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  Tech Depot by Office Depot  
AICPA members receive discounts on select Fujitsu scanners through Tech Depot. Click here for details.
 
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Sponsored Links
   
Best practices for scanning tax documents
Download a free white paper from GruntWorx
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CPA News to Know
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1 343,020 reasons CPAs should talk up their tax expertise now
 
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1 Estates and trusts with 3.8% Medicare surtax
 
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1 AICPA recommends IRS delay matching of documents reporting capital gains and losses
 
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Video
   
Total Tax Insights Calculator
The AICPA's Melissa Labant explains how this new tool developed by the AICPA can educate people about the taxes they pay.

 
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