|The AAA-CPA Weekly Update|
|Oct. 10, 2012|
Relax ... the AAA-CPA has you covered at the AAA-CPA Fall Meeting & Education Conference, Nov. 7-11
All you have to do is make your hotel reservation to start.
The PGA National Resort & Spa in Palm Beach Gardens, Fla., offers world-renowned champion golf courses, a luxurious spa and great dining options for all guests. The AAA-CPA has secured our registrants a 10 percent discount on all spa and custom club fitting services and 20 percent discount at the pro shop for rentals and purchases. Thanks to our sponsor, MPI, you may have the chance to play golf during our opening reception or during our free time Saturday afternoon. Want to learn how to play? We have you covered there too — sign up for the golf clinic with your fellow AAA-CPA members.
Reservations can be made by contacting the hotel directly at 800-633-9150. Be sure to say you are with the AAA-CPA conference to receive the discounted group rate of $179 for your room. Act soon, this rate is only available until Oct. 19. Reservations made after this date will be accepted by the hotel on a space available basis. For those who wish to spend additional time at the hotel, our discounted rates will be honored four days before and two days after the conference.
Please note that we strongly encourage you to make a hotel reservation timely, even if you are not sure whether you will be able to attend. Click here to visit the hotel's website.
Click here for details about the conference and to register today.More
AAA-CPA 2012-2013 membership dues — Payments were due by Oct. 1
Dues payments may be paid online at www.attorney-cpa.com 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 AAA-CPA national office at 888-ATTY-CPA or email@example.com if you did not receive your renewal statement or have questions on our payment plans.
The AAA-CPA welcomes our new members from May-September
Please click here to view the list of new members. Interested in joining the AAA-CPA? Visit us online at www.attorney-cpa.com to apply for membership, or email firstname.lastname@example.org for more information. More
Leonard Weiner is elected national chariman of Synergy Summit
Leonard Weiner, J.D., CPA, M.B.A., AEP®, was elected chairman of Synergy Summit, a national organization whose purpose is to educate and collaborate on tax, estate and financial planning issues including wealth accumulation and preservation. To read more, click here.
Roger A. Norman named winner of AICPA Outstanding CPA in Government Award
Roger A. Norman, CPA, J.D., of Little Rock, Ark., is one of the 2012 recipients of the American Institute of Certified Public Accountants Outstanding CPA in Government Award. Roger Norman received the award for state government. Norman was previously the winner of the Arkansas Society of Certified Public Accountants Outstanding CPA in Government Award, and he was submitted as a nominee in consideration for the AICPA award in the same category. Click here to read the full article via AccountingWEB.com.More
Federal tax update — September
by David S. De Jong, Esq., CPA, Stein Sperling Bennett De Jong Driscoll PC
In Moody v. Commissioner, TC Memo 2012-268, the tax court adhered to its position that the dependency allowance is not transferred to the noncustodial parent unless the custodial parent signs Form 8332, notwithstanding a court decree that the noncustodial parent was entitled to the exemptions for the children if he was current (as he was) on his child support payments.
Obama: Congress should approve tax cut, mortgage refinance plan
The Associated Press via The Washington Post
President Barack Obama says a new report showing that the unemployment rate has dropped below 8 percent is a sign the still-sluggish economy is moving forward. But Obama says more needs to be done. He called on Republicans in Congress to work with Democrats on a plan to cut taxes for 98 percent of Americans and on another bill to help families refinance their homes at lower interest rates. More
IRS pays whistleblower $2 million reward
The Internal Revenue Service has given a $2 million reward to a whistleblower who exposed an alleged tax avoidance scheme by an Illinois tool maker that cost the U.S. Treasury hundreds of millions of dollars. The allegations reported by the anonymous whistleblower against Illinois Tool Works involved the artificial replication of tax basis. A Swiss bank allegedly duplicated its own tax deductions in order for ITW, as a client and unrelated taxpayer, to claim the same deductions as an offset to ITW's otherwise taxable income. More
Hundreds of pastors back political candidates, defy tax rules
Baptist Pastor Mark Harris stood before his flock in North Carolina recently and joined hundreds of other religious leaders in deliberately breaking the law in an election-year campaign that tests the role of churches in politics. By publicly backing candidates for political office from the pulpit, Harris and nearly 1,500 other preachers at services across the United States were flouting a law they see as an incursion on freedom of religion and speech. More
Corporate tax group praises Romney, Obama
A bipartisan group is trying to accentuate one area of agreement between President Barack Obama and Mitt Romney's debate — corporate tax reform. The president and his Republican challenger spent much of the debate sparring over taxes, most notably whether Romney's plan would add to the deficit. But Obama also declared early in the debate in Denver that he and Romney were on similar pages when it came to taxing corporations. More
Favorable tax draws companies to Britain
Financial Times via CNBC
At least 20 multinationals are drawing up plans to move their regional or global headquarters to Britain over the next year after government efforts to increase the competitiveness of the U.K.'s business tax regime. Ernst & Young, the professional services firm, said the country was successfully competing with low-tax countries such as Switzerland and Singapore as a base for multinational companies.More
To regulate rapid traders, SEC turns to 1 of them
The New York Times
As billions of shares course through the stock market each day, investors rely on the government to keep up with Wall Street's rapid-fire traders. But in an acknowledgment that the Securities and Exchange Commission has fallen behind the firms it regulates, the agency is turning to one of those high-frequency traders for help. More