The AAA-CPA Weekly Update
May. 27, 2015

SCOTUS Comptroller v. Wynne Ruling Recognizes States Do Not Have a Boundless Power to Tax Residents
The U.S. Supreme Court decided in a 5 to 4 vote to uphold the ruling of Maryland's highest court in Comptroller v. Wynne. Former President David S. De Jong was lead counsel on an amicus brief by AAA-CPA. Additional counsel on this brief were Michael E. Breslin, Amanda Lewis, John W. Pramberg, C. Murray Saylor, James H. Sutton and Sydney S. Traum. Click here to read about this case.More

Reserve Your Room Today for a Fantastic Summer Stay
Your room is waiting for you at the Hilton Branson Convention Center for the 2015 Annual Meeting & Education Conference in Branson, Missouri. Call now to reserve it! Located in the heart of historic downtown Branson, the sleek 12-story tower of the Hilton Branson Convention Center hotel offers an ideal base to discover Branson attractions or conduct business. The AAA Four Diamond hotel is attached to the Hilton-managed Branson Convention Center and across the street from the vibrant waterfront entertainment district, Branson Landing. This stylish tower hotel offers a stunning design, inspired by the beauty of the Ozark Mountain Region.

The AAA-CPA has reserved a block of hotel rooms at the Hilton. The AAA-CPA has negotiated a rate of $172.50 single, $182 double, $199.50 triple and $213 quad for king. The room includes breakfast voucher of $13.50 per each adult in the room. The Hilton will only guarantee these room rates until June 9. Reservations can be made by calling 1-800-HILTONS and asking for the AAA-CPA group rate.More

Upcoming AAA-CPA Study Groups
Earn education credit without leaving your home or office! Registration is now open for members and nonmembers for the following study group programs:


Sponsorship Opportunities
Highlight your company's name, products and services to attorney-CPAs that are key decision-makers in their firm or practice by sponsoring an event or including an insert in our conference bag at our AAA-CPA Annual Meeting & Education Conference in Branson, Missouri. Click here for more information or call 888-ATTY-CPA.More

Catching Up After Filing Season
By Annette Nellen, Esq., CPA, CGMA, via AICPA Tax Insider
Cases, rulings, reports and other actions from the federal government so far this year provide some interesting and helpful reminders for tax practitioners.More

Texas Senate Votes to Trim Business Franchise Tax Rate
The Dallas Morning News
The Senate approved a 25 percent across-the-board reduction in the state's business franchise tax as part of a $3.8 billion tax cut package agreed to by legislative leaders. Passed on a 24-6 vote, the legislation must return to the House for concurrence in Senate amendments.More

US House Backs Permanent R&D Tax Credit
The U.S. House of Representatives has passed legislation that would simplify and strengthen the research and development tax credit and permanently enshrine it in the U.S. tax code. The American Research and Competitiveness Act of 2015 was approved by the House by a vote of 274-145 May 20. More

Tax-dodge Scrutiny in US Repels Bidders From Bermuda Takeovers
The Internal Revenue Service's scrutiny of tax avoidance in offshore locations has discouraged bidders from taking over reinsurers, potentially reducing the companies' value. Montpelier Re Holdings Ltd. and Platinum Underwriters Holdings Ltd., both based in Bermuda, have each said in recent regulatory filings that potential suitors backed away last year because of risks tied to taxes.More

Supreme Court: 2 States Can't Tax the Same Income
USA Today
The Supreme Court came down against double taxation in a case that could cost some states and cities millions of dollars. The justices sided with taxpayers over governments in a case that tested Maryland's income tax system, which does not grant a full credit to residents who also pay income taxes in states where they work.More

Americans Spend More on Taxes Than Food, Clothing and Shelter Combined
Every year, the Tax Foundation compares the total amount of taxes paid in America and the amount of spending on the necessities of food, clothing and shelter. In most recent years, the Tax Foundation has concluded that Americans spend more on taxes than on necessities — and 2015 is no different.More

Paul Ryan Tells CPAs About Tax Reform Priorities
Accounting Today
House Ways and Means Committee Chairman Paul Ryan, R-Wisconsin, explained his tax reform plans during a speech before the American Institute of CPAs at the AICPA's Spring Meeting of Council in Washington, D.C. "One of the concerns that we have, now that we have both the House and the Senate, is the uncertainty that's been plaguing our economy, and one of the primary sources of uncertainty in this economy today has been our tax code," said Ryan, who ran as the Republican vice presidential nominee in the 2012 election.More