The Attorney-CPA Weekly Update
Sept. 28, 2011

AAA-CPA 2011-2012 Membership Dues - Payments due by Oct. 1, 2011
Dues payments may be paid online at by logging into the Members Only section. Checks may be mailed to our office at: AAA-CPA, 3921 Old Lee Highway, Suite 71A, Fairfax, Va., 22030 or faxed to 703-352-8073.

Please contact the national office if you do not receive your renewal statement or have questions on our payment plans.More

The AAA-CPA Fall Education Conference - register now and save!
Benjamin Franklin told us, "A penny saved is a penny earned." The AAA-CPA wants to help you save more than a few pennies and earn priceless knowledge. Register by Oct. 3, 2011 to save up to $100 and earn up to 17 hours of CPE and 15 hours of CLE/MCLE with two hours of Accounting and Auditing (A&A) at the stellar conference. New members of the AAA-CPA save $200 with your special coupon that you received in your welcome packet! Join us Nov. 2-6, 2011, for the AAA-CPA 2011 Fall Meeting & Education Conference at the Doubletree Metropolitan Hotel in New York City. Register today by clicking here.More

Become involved! Join a committee today!
One of the most effective ways to take advantage of your AAA-CPA membership is by volunteering to serve on a committee. Serving on a committee helps connect you with the association and its members, gives you a stronger voice in the decision making process and enables you to contribute your expertise and talents in shaping policies that will affect the association. Committee work requires only a minimal time commitment, as most meetings are conducted via conference call or email. Click HERE to join a committee today. Thank you for your service! More

30 percent discount on US Master Tax Guide® extended through Sept. 30!
Don't miss your chance to lock in your special savings! Click here to see the special 40 percent discounts for September.More

IRS lets employers come clean on contractor payroll taxes
The Internal Revenue Service is giving companies that have been misclassifying employees as independent contractors a chance to pay a fraction of back taxes to avoid interest, penalties and audits for previous years. Under the program announced by IRS Commissioner Douglas Shulman, U.S. companies would have to agree to treat the workers as employees going forward and pay 10 percent of the previous year's payroll taxes. The program is open to employers of all sizes, though Shulman said he is trying to encourage smaller businesses to participate.More

Millionaires form family offices to avoid private banks
Stephen Diggle, who co-founded a hedge fund that made $2.7 billion for investors in 2007 and 2008, set up a family office to manage the millions in fees he earned instead of entrusting his wealth to private bankers. "It was fairly demonstrably clear that there was a very significant problem of alignment of interests by private banks and their customers," said the 47-year-old founder of Vulpes Investment Management, whose Singapore-based family office has invested in hotels in Japan and farms in Uruguay. "They ceased to be custodians of people's money and they became salesmen."More

US 'supercommittee' eyes taxes amid differences
The leaders of a congressional "supercommittee" squared off over the hot-button issue of tax increases and how new revenues might fit into the panel's deficit reduction proposals. Democratic co-chair Senator Patty Murray, at the start of the committee's hearing on the roughly $1 trillion in special interest breaks and loopholes that permeate the U.S. tax code, made clear she expects the panel to include some tax increases along with spending cuts in its final product.More

IRS to begin fingerprinting tax preparers
Accounting Today
The Internal Revenue Service plans to start fingerprinting thousands of tax preparers as part of its oversight program, and run the fingerprints through an FBI database. The IRS released more details on its tax preparer oversight program, and said registered tax return preparers would now be required to renew their Preparer Tax Identification Numbers on an annual basis. In addition, the 15-hour continuing education requirement will take effect next year. More

GOP shifts away from payroll tax cut
The Boston Globe
As applause broke out in the House chamber, Scott P. Brown rose to his feet to join an ovation for President Obama. But the enthusiasm came from just half the chamber - the Democratic side - and the lanky GOP senator from Massachusetts was a lonely figure standing in a sea of seated, stony-faced Republicans. More

SEC may recommend legal action against S&P
The staff of the Securities and Exchange Commission is considering recommending civil legal action against the Standard & Poor's debt ratings agency over its rating of a 2007 collateralized debt offering. Collateralized debt obligations, also known as CDOs, are securities tied to multiple underlying mortgage loans. More