AAA-CPA approves 5 new designations for Affiliate status
The AAA-CPA has announced that the following designations will now be approved for Affiliate status: CMA, CIA, CFF, CFE and CGMA. Individuals that have earned one of those designations and are either a current member of a state bar, licensed CPA in at least one state or belong to at least one Synergy Summit group will now have the opportunity to join the association as an Affiliate. For more information on how to become involved with the AAA-CPA as an Affiliate, click here.
New York Chapter Meeting Rescheduled
Please note that the July 24th New York Chapter Meeting "Planning for Long Term Care in New York" has been rescheduled for Thursday, September 18th. To register for this event, please click here.
White House threatens veto on charitable tax breaks
The White House threatened to veto a House package of tax breaks aimed at spurring charitable giving. In a statement, the Obama administration said that it "wants to work with Congress to make progress on measures that strengthen America's social sector."
No special prosecutor needed for US tax agency probe
A top Department of Justice official, deflecting demands from Republicans, said that a special prosecutor was not needed to look into past U.S. Internal Revenue Service treatment of conservative groups and the agency's loss of related emails.
Deputy Attorney General James Cole, the Department of Justice's second-in-command after Attorney General Eric Holder, told lawmakers the IRS was being thoroughly and fairly investigated.
Accountant suit: IRS ignored law in tax preparer program
The Internal Revenue Service is trying to circumvent a court ruling that struck down its plan to regulate tax-return preparers by starting an identical program disguised as voluntary, an accountants' group claimed.
A federal appeals court said that the IRS lacked authority to regulate paid tax preparers and upheld a lower-court ruling throwing out licensing rules for as many as 700,000 practitioners.
White House urges lawmakers to address popular tax dodge
When is it OK for an American company to avoid paying American taxes?
That's the question the Senate Finance Committee will wrestle with as the Obama administration urges lawmakers to make it harder for companies to duck corporate taxes by setting up shop overseas.
CBO: Everyone's taxes will go up quietly
The value of the mortgage interest deduction will be cut by nearly half.
Many more will owe taxes on their Social Security benefits. And Obamacare taxes aimed at the well-to-do will begin hitting a lot more taxpayers.
Senators introduce online sales tax legislation
A group of senators has introduced a bipartisan bill governing sales taxes on online purchases and Internet access after previous legislation failed to make progress in the House.
The Marketplace and Internet Tax Freedom Act was introduced by Sens. Mike Enzi, R-Wyoming, Dick Durbin, D-Illinois, Lamar Alexander, R-Tennessee, Heidi Heitkamp, D-North Dakota, Susan Collins, R-Maine and Mark Pryor, D-Arkansas.
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