Fiduciary Trust Company to sponsor and host upcoming New England chapter meeting
The New England chapter of the AAA-CPA will hold a free education luncheon sponsored and hosted by Fiduciary Trust Company on Tuesday, Feb. 25, (snow day Feb. 28) from 12-1:30 p.m. Jody R. King, CPA, J.D., RLP®, will be presenting Paying for College: Savings Vehicle Choices and Their Impact on Financial Aid, which will qualify for one CPE credit. The program will explore the financial aid systems utilized by colleges and universities and review a number of common approaches to both saving for and paying for college. The impact of various savings vehicles and asset ownership on the financial aid calculation will also be discussed, as will the difference between merit and need based aid. Click here to register today.
AAA-CPA South Texas chapter announces leadership
The AAA-CPA South Texas (Houston) chapter recently named the following members as leaders.
Pat Bunch — Education chair
William Le Vay — Educational compliance officer
John Akard — National liaison
Gene McCain — Membership chair
Keith Peterson — Public relations chair
Don Daum — Treasurer
Rhett Buck — Meeting spokesperson
AAA-CPA members enjoy an additional 15 percent discount on the CCH February books of the month
"U.S. Master™ Sales and Use Tax Guide," 2014
Regular price: $137.75
In February: $82.65
"Finance & Accounting for Nonfinancial Managers," with CD 2011
Regular price: $50
In February: $30
Click here to place an order.
Looking for education hours? Look no further ... we've saved you a seat
Join us at the AAA-CPA Northeast Regional Conference at Revel Resort in exciting Atlantic City, N.J. These exceptional education programs will take place May 2-4.
Registration is now open. Click here to register.
Impact of Obamacare on filing Form 1040's in 2014, presented by Bill Noll
- Heckerling Conference on Estate Planning Update, presented by Ed Bortnick
- Federal Tax Update, presented by Henry Meadows
Regulatory burden, Swiss tax evasion, CFTC: Compliance
Financial industry executives are almost as concerned about the growing demands of regulatory compliance as they are with market volatility, according to a survey of 400 financial companies by SunGard Financial Systems LLC and Longitude Research.
Preoccupation with existing and anticipated regulatory reforms dwarfs concerns such as weak growth outlook, shareholder pressure, liquidity shortfalls or the crackdown on tax avoidance, the survey showed.
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Individual income taxes may soon generate half of all federal tax revenue
Over the next decade, the individual income tax will be the fastest growing source of federal revenue, according to new estimates by the Congressional Budget Office. In fact, the individual income tax will pretty much be the only revenue source likely to increase significantly over the next decade.
2 Democrats call for investigation of watchdog who led IRS targeting probe
The Washington Post
Two House Democrats called for an investigation of a federal auditor who accused the Internal Revenue Service of gross mismanagement and targeting advocacy groups for extra scrutiny based on their names and policy positions.
Reps. Gerald E. Connolly, D-Va., and Matthew Cartwright, D-Pa., filed a complaint with a special watchdog council questioning the independence of the Department of the Treasury Inspector General J. Russell George, who is a member of the council.
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Thousands of employees affected by Harvard tax mistake
The Boston Globe
Four of the last seven U.S. Department of the Treasury secretaries hold Harvard degrees, but that hasn't stopped the august university from running into problems with federal taxes.
Harvard University officials acknowledged that a mistake in tax reporting led 11,000 employees to pay taxes on income they did not receive — to the tune of millions of dollars — between 2009 and 2013.
Federal tax update — January
by David S. De Jong, Esq., CPA, Stein Sperling Bennett De Jong Driscoll PC
In Ibrahim v. Commissioner, the tax court determined that a taxpayer married to his brother's widow who incorrectly filed using head of household status could not change to a married filing joint return after he received a Notice of Deficiency and filed a petition with the tax court.
Most tax-friendly states for retirees
When it comes to finding a state to which to retire, there are plenty of factors to consider.
There's the weather, proximity to family and friends, access to health care, quality of life and the list goes on, according to CCH, Wolters Kluwer.
Welcome relief for homeowners, until the tax bill arrives
The New York Times
Come tax time, JPMorgan Chase will be able to write off the $1.5 billion in debt relief it must give homeowners to satisfy the terms of a recent settlement.
But the homeowners who receive the help will have to treat it as taxable income, resulting in whopping tax bills for many families who have just lost their homes or only narrowly managed to keep them.
Wyden backs universal savings accounts for US newborns
Ron Wyden, poised to become the Senate's top Democrat on tax policy, said he will push to establish universal savings accounts for all newborns in the U.S. as a way to "really put a dent in the poverty rate."
Wyden, who will become chairman of the Senate Finance Committee, emphasized he would discuss details with his colleagues before writing the legislation.
Victory, and tax changes, for same-sex couples
The New York Times
Erin E. Miller and her wife may have to pay more income tax this year, but they aren't about to protest. Quite the opposite.
They are delighted.
Missed last week's issue? See which articles your colleagues read most.
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