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John W. Pramberg of Newburyport, Massachusetts, was installed as the 52nd President of the AAA-CPA during the association's AAA-CPA Annual Meeting and Education Conference in Branson, Missouri. Pramberg succeeds Joseph E. Cordell of Creve Coeur, Missouri. In addition, the following officers were also installed: David M. Berger of Studio City, California, as Vice President/President-Elect; Eric J. Rollinger of Rockville, Maryland, as Treasurer; Jo Ann Marie Koontz of Sarasota, Florida, as Secretary; and William B. Le Vay of Houston as Assistant Secretary/Treasurer.
For the month of July only, purchase the following titles at 40 percent off:
"Internal Revenue Code, Summer 2015"
Regular price: $145
In July: $87
"Income Tax Regulation, Summer 2015"
Regular price: $216.95
In July: $130.17
to purchase at the discounted rate.
The Obama administration quietly handed a victory to U.S. companies that avoid taxes by claiming a foreign address, suggesting that virtually all of them are still eligible for government contracts.
The Department of Homeland Security last year endorsed a legal memorandum that argued in part that a 2002 law banning such companies from federal contracts was invalid, according to a copy of the memo obtained by Bloomberg.
Journal of Accountancy
With the tremendous amount of wealth transferring into and out of the United States, more and more CPAs are encountering clients with international ties. Whether it is a U.S. citizen with international ties to family, business or real property, or a U.S. nonresident seeking to immigrate to the United States or acquire U.S. property, these clients bring with them a host of international questions, issues and potential liability for their advisers.
In the wake of high-profile data breaches at the Internal Revenue Service and other federal agencies, a new government report warns the IRS against expanding its online customer service options before completing key technology upgrades. The report, from the Treasury Inspector General for Tax Administration, pointed out that the IRS has made progress in providing taxpayers with online customer service options.
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The New York Times via The Seattle Times
As presidential candidates find new ways to exploit secret donations from tax-exempt groups, hobbled Internal Revenue Service regulators appear certain to delay trying to curb widespread abuses at nonprofits until after the 2016 election.
In a shift from past elections, at least eight Republican presidential candidates, including leading contenders like Jeb Bush and Sen. Marco Rubio of Florida, have aligned with nonprofit groups set up to raise hundreds of millions of dollars.
The News Virginian
Three out of 4 Americans say the current federal tax code is unfair. While this number is the result of a recent survey by the nonprofit group Let Freedom Ring, you only have to try wading through the depths of the tax code yourself to come to the same conclusion. The tax code is inherently unfair, inefficient and mind-numbingly complex at times.
Smaller estates may get a break, but larger estates are out of luck if they fail to timely claim a newfangled way to save estate taxes. That's the conclusion the Internal Revenue Service came to in the final regulations on the portability of a deceased spousal unused exclusion amount. It's as confusing as it sounds, but if you or your surviving spouse could be in estate tax territory, pay attention.
Study Group: Hot Topics in State Income and Sales Tax
Study Group: Tax Traps When Transferring Life Insurance Policies
Study Group: Piercing the Veil of LLCs
Study Group: State Tax Issues for Nonprofits
Northeast Regional Education Conference- Baltimore, MD
Study Group: How Do States Catch You?
Study Group: Charitable Lead Trusts
Study Group: Successor Liability
Study Group: Talking to your Clients about Sales Tax
Study Group: Charitable Remainder Trusts
Study Group: IRS and NYS Tax Collections
2015 Fall Meeting & Education Conference
7701 Las Colinas Ridge, Ste. 800, Irving, TX 75063