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AAA-CPA NEWS


Congrats to our 3 winners from the membership survey
AAA-CPA
Here are the winners:
  • Christopher Wyrick, Christopher B. Wyrick & Associates LLC, Fort Collins, Colo.
  • Aran H. Dokovna, Saxe, Roth, Dokovna, Schwartz & Lynskey, Van Nuys, Calif.
  • Ann Marie Schmitz, Esq., CPA, Charlotte, N.C.
Each got to choose a gift card from either American Express, Amazon.com or iTunes. Thank you to all of our members for taking the time to fill out the survey. Your answers will continue to help us as we build stronger programs and content.

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Thank you from Zelda Laster
AAA-CPA
Zelda Laster, Eli Robins' companion, sends her thanks and appreciation for the outpouring of support following his death. She is overwhelmed with the cards, phone calls and donations in his name to the foundation. She is doing well and looks forward to seeing everyone soon. For those in the New York City area, Zaster will be scheduling a dinner in the spring to honor Eli Robins and his contributions to the AAA-CPA.
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Update on IRS reporting 1099G to taxpayers
AAA-CPA
At the NJPLM January meeting, members showed serious concern over the reporting of the 1099G to taxpayers, and about what to do if the statement is not issued on paper. As a result, here is a drop-in article that organizations can use in their newsletters, websites or client organizer to advise clients accordingly. Please click here to review this article. During the meeting, members continued to raise concerns over the Internal Revenue Service's efforts to reduce and assist victims of identity theft. One member asked for 2012 statistics of reported incidents, which totaled 233,365 based on information provided by the Office of Privacy, Governmental Liaison and Disclosure. For additional information on the dollar amounts and increased staffing, please review the IRS 2013-2 fact sheet.
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PRODUCT SHOWCASE
  Annual Industry Trends Survey: Download Your Complimentary Report

Survey: 94% of respondents expect the demand for business succession planning to increase. Access the complete findings from the 6th Annual Industry Trends Survey which drew participation from nearly 1,500 attorneys, advisors and wealth management professionals. Compliments of WealthCounsel and Trusts & Estates.
 


MEMBER ARTICLES


January federal tax update
by David S. De Jong, Esq., CPA
In Brady v. Commissioner, the tax court determined that Social Security disability payments that must be paid over as an offset to a private disability policy do not reduce the gross amount of Social Security income.

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TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    IRS: Let new tax return preparer rules proceed (Reuters)
Boomers' aging parents may yield a tax deduction (The Associated Press via CNBC)
New Undergraduate Affiliate status (AAA-CPA)
Investors get a tax break with early dividends (USA Today)
Senate bill would expand tax credit for hiring veterans (Accounting Today)

Don't be left behind. Click here to see what else you missed.


INDUSTRY NEWS


How should investors respond to the new US tax picture?
The Wall Street Journal
First, start tax-loss harvesting. There are billions of dollars in tax savings from simple tax-loss harvesting strategies. If you don't know what that is or how to do it, Google it.
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Obama welcomes debate on taxes
USA Today
President Barack Obama says he's looking forward to debating Republicans about taxes, as he and Congress approach another round of budget battles. Obama also told House Democrats at a retreat that he wants to do a major debt reduction deal, but it has to include new tax revenue as well as spending cuts.
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IRS extends deadline for including mandatory language in taxpayer disclosure consent forms
Accounting Today
The Internal Revenue Service has extended the deadline for including mandatory language in consent forms that tax preparers are expected to send to clients before disclosing or using their tax return information. Revenue Procedure 2013-19 extends the deadline to comply with the mandatory language requirements in Revenue Procedure 2013-14 from Jan. 14 until Jan. 1, 2014.
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Study: Tough Wall Street enforcement lost in 'revolving door'
CNBC
Is the Securities and Exchange Commission too cozy with Wall Street? A new report by a nonprofit government watchdog group said former SEC employees, hired away from the commission by the private sector, "routinely" help their new employers to influence the agency and blunt SEC enforcement actions.
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Looking beyond income, to a tax on wealth
The New York Times
Income tax rates have recently been raised slightly for some affluent people, and there is pressure for additional increases. But some economists say raising marginal income tax rates on high earners may miss the mark. One reason is that the truly wealthy employ all kinds of legal means to minimize their tax liability, including shifting income around the world, deferring gains on their assets and many other sophisticated strategies.
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Democrats aim tax, spending cuts at rich to avoid 'meat ax'
Reuters
Facing government spending cuts that could delay air travelers, education programs for the poor and weaken military readiness, Democrats in the U.S. Congress recently sought to shift the deficit-reduction burden to the rich. Without congressional action, about $85 billion in across-the-board spending cuts are set to begin on March 1.
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CALENDAR
Feb. 14
Proposed Changes to Capital Lease Accounting

Feb. 19
Members Only Study Group: Compensation Issues in Entity Tax Planning

Feb. 22
Legal, Financial and Practical Long-term Care Issues Facing Seniors and Their Families

Feb. 26
Beyond Blue Suits and Briefcases: Creating and Maintaining Powerful Executive Images

Feb. 27
Investing in Today's Turbulent Environment and The Case for the 20,000 Dow

March 13
Treasury Circular 230 — Disciplinary Proceedings

March 14
Ethics and the Unauthorized Practice of Law

March 28
Georgia Chapter Meeting

April 11
IFRS and GAAP — International vs. US Accounting Standards

April 25
Florida Association Meeting in conjuction with the Florida Bar Tax Section

April 26
Georgia Chapter Meeting

May 3
Northeastern Regional Education Conference

May 9
Electronic Discovery

May 15
Georgia Chapter Meeting

June 13
Merger and Acquisition Litigation

June 20
Georgia Chapter Meeting

July 3
AAA-CPA Annual Meeting and Education Conference

July 11
PA/DE Chapter Meeting

Aug. 8
PA/DE Chapter Meeting

Sept. 12
PA/DE Chapter Meeting

Sept. 19
Georgia Chapter Meeting

Oct. 15
Georgia Chapter Meeting

Nov. 6
AAA-CPA Fall Meeting and Education Conference


 



The AAA-CPA Weekly Update

Colby Horton, Vice President of Publishing, 469.420.2601
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Katina Smallwood, Content Editor, 469.420.2675   
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