AAA-CPA teams up with New York University School of Law during 2011 Fall Meeting & Education Conference
Join us Nov. 2-6, 2011 in New York City where participants will have multiple opportunities to interact with faculty and students from the New York University School of Law like:
• Have breakfast with Dean Richard L. Revesz and Joshua D. Blank, J.D., LL.M., Faculty Director of the Graduate Tax Program and learn of the school's successes and current developments at the Graduate Tax Program.
• Meet and mingle with Tax LL.M. and J.D. students at a reception hosted by The Attorney-CPA Foundation.
• Participate in a session conducted by Daniel Shaviro, J.D., the Wayne Perry Professor of Taxation Fundamental Tax Reform: Can, Should and Will the U.S. Federal Income Tax Be Replaced by a National Consumption Tax?
'E' in SEC doesn't stand for environment - why is it probing fracking?
Regulators regulate. It's a simple concept, but one which seems to escape even the highest of government officials. Some in the Obama administration must be disappointed by the lukewarm reception business leaders and the public have given to recent regulatory red-tape cutting efforts. But when you read stories like "SEC Bears Down on Fracking," which appeared recently in The Wall Street Journal (online subscription required), you cannot be surprised that serious doubts exist over the federal government's wherewithal to rationalize regulation. More
Hurricane postpones IRS's offshore voluntary disclosure deadline
Journal of Accountancy Share
As Hurricane Irene was about to make landfall in North Carolina and head up the East Coast, the IRS announced it had postponed the deadline for its 2011 Offshore Voluntary Disclosure Initiative (OVDI). The new due date for requests is Sept. 9, 2011. Before the extension, taxpayers had been required to complete all requirements for the program, or make a good-faith effort to comply and request a 90-day extension, by Aug. 31. More
Feds get guilty pleas in tax lien bid rigging scheme
To say that times are tough would be an understatement - and to say that many owners of real estate are struggling to keep up with their mortgage payments and assessed taxes would simply be restating the obvious. When owners of real estate fail to pay taxes on their property (e.g., real estate, water and sewer), the local taxing authority often attaches a lien for the unpaid balance. More
UBS to cut 3,500 jobs, half in investment banking
New York Times Share
UBS, the embattled Swiss bank, said it would cut 3,500 jobs in the next two and a half years to reduce costs. About half of the jobs will be in the investment banking division, which has continued to be one of the bank's worst performers. The rest of the layoffs will come from the wealth management and asset management businesses. More
Repatriation tax break study challenges official cost estimate
The tax break for repatriating overseas profits sought by Cisco Systems Inc., Google Inc. and other U.S.-based multinational companies would raise $8.7 billion for the federal government over the next decade, according to an estimate by two economists. The estimate, released by NDN, a research group in Washington that typically aligns with Democrats, challenges the official estimate by the congressional Joint Committee on Taxation. That nonpartisan group projected that a repatriation tax holiday would cost the U.S. government $78.7 billion in forgone revenue over the decade. More
Are income tax hikes inevitable?
Advisor One Share
The rich are protected like "spotted owls" and other "endangered species," wrote Warren Buffett in a recent New York Times op-ed piece. And despite Republican assurances that they will not approve any tax increases, they may be inevitable. Buffett says that his effective tax rate is far lower than anyone in his office. Citing the sacrifice of the poor and middle class who fight for the U.S. in Afghanistan and who are struggling during the halting post-recession recovery, Buffett says Washington spared him and his billionaire friends when it called for "shared sacrifice" in the recent debt limit discussion. More