Registration now open: Northeastern Regional Education Conference comes to Annapolis, Md.
Join us for the Northeastern Regional Education Conference April 27-29 at the Historic Inns of Annapolis' Maryland Inn in Annapolis, Maryland. This program will provide up to eight hours of CPE and CLE/MCLE on a 50-minute hour track and six and a half hours of CLE/MCLE on a 60-minute hour track. Both AAA-CPA members and nonmembers are welcome to attend. In addition to a tax roundtable, education topics will include qualified state tuition plans, IRC § 529 plans, ethical issues in estate planning, the role of the trustee, an in-person study group and hot topics in multistate taxation. We encourage you to bring your families and guests and enjoy all that the city has to offer. The vibrant capital of Maryland and jewel of the Chesapeake Bay, Annapolis offers exciting things to do and experience. From its historic Maryland State House and Victorian homes to the charming waterfront lined with trendy shops and pubs, Annapolis is a captivating vacation destination packed with history, beauty and activity. Visit www.visitannapolis.org for details.
Click here for the full session descriptions and registration details.
AAA-CPA networking and referral directory
Change firms? Move locations? New email? We are preparing to update our membership records for the 2012-2013 Networking and Referral Directory and our "Find an Attorney-CPA" search engine on the AAA-CPA website. To update your information, please log in to the members only section of our website, www.attorney-cpa.com, or click here for detailed instructions. Make sure to update your information by March 14 for the newest contact information to be printed in the 2012-2013 Networking and Referral Directory. Questions may be directed to Kimmy Livingston at firstname.lastname@example.org or 888-ATTY-CPA.
Members: Receive a free consultation from Health Proponent
Health Proponent experts can personally help resolve health care or insurance related issues quickly and efficiently. Visit www.HealthProponent.com/AAA-CPA for information and special pricing. Members receive a free consultation. Click here for more information.
Past President Sydney Traum wins Writing Excellence Award
The FICPA Editorial Committee has named Sydney S. Traum, BBA, JD, LLM, CPA, as the winner of the 2011 Writing Excellence Award. Traum received the annual honor for his article, "Update on S Corporations," which was published in the January/February 2011 issue of Florida CPA Today. Click here for the full release from the FICPA.
IRS faces surge in identity theft tax fraud
The Internal Revenue Service is grappling with a surge in identity theft-based tax fraud as crooks take advantage of Web-based resources including electronic filing. Identity theft cases, in which criminals obtain living or deceased people's names and Social Security numbers to defraud the government, ranked number one on an annual "Dirty Dozen" list of tax scams the agency released recently. The IRS called ID theft one of the most complex threats it handles. More
Congress approves payroll tax cut extension
The Associated Press via USA Today Share
Congress approved legislation renewing a payroll tax cut for 160 million workers and jobless benefits for millions more, backing the main items on President Barack Obama's jobs agenda in a rare burst of Washington bipartisanship. The Senate approved the $143 billion measure on a bipartisan 60-36 vote minutes after the House approved it by a sweeping 293-132 vote. More
Study backs shareholder ratification of audit firms
Accounting Today Share
A new academic study finds that when public companies give their shareholders a vote on the selection of an external auditing firm, they are less likely to make financial restatements than those that don't. The study, which appears in the latest issue of The Accounting Review, published by the American Accounting Association, found that only 5.1 percent of companies that give shareholders a say in auditor selection have to restate their results, compared to 8.1 percent who don't allow a shareholder vote. More
SEC widens probe of exchange-traded funds
U.S. securities regulators have widened their inquiry into the trillion-dollar market for exchange-traded funds, according to a person familiar with the matter. Prompted by a delay in a big trade at a popular ETF, the U.S. Securities and Exchange Commission is taking a closer look at a possible connection between high-frequency traders and hedge funds jumping in and out of ETFs, and instances where ETF trades fail to settle on time, this person said. More
Door opens to tax on IRA and 401(k) gains
From the beginning, questions have swirled around the future tax standing of retirement savings. In an age of soaring deficits, would Congress really be able to keep its hands off hundreds of billions of dollars of tax-advantaged growth? It appears not. A Senate Committee on Finance proposal slipped into a highway-funding bill would have forced those who inherit an IRA or 401(k) to empty the accounts within five years — almost certainly triggering income-tax payments. More
Facebook founder Mark Zuckerberg might face $2 billion tax bill
Facebook founder Mark Zuckerberg may face a tax bill of $2 billion by taking his company public. Why so high? Tax experts say it's because of his plan to exercise stock options. According to CNNMoney, he owns 414 million shares of Facebook but also holds options to buy another 120 million shares at 6 cents a piece. Facebook said in its initial public offering paperwork that it values its shares at $29.73, so that means Zuckerberg will have to pay taxes on the difference between 6 cents and the market value on the day he exercises his options. More