A Penny Saved is a Penny Earned, so Save and Earn With the AAA-CPA Fall Meeting & Education Conference
Nov. 5-8 at the at the Sofitel Lafayette Square in Washington, D.C.
Save: The discounted registration fees for the AAA-CPA Fall Meeting & Education Conference are expiring soon. Don't miss out on the savings, and register today.
Earn: The program will offer 16 hours of CPE and CLE/MCLE on a 50-minute hour track or 13 CLE/MCLE on a 60-minute hour track, including one hour of A&A and one hour of ethics.
Click here for details about the conference and to register today.
AAA-CPA to Co-sponsor the 31st Annual National Institute on Criminal Tax Fraud and 4th National Institute on Tax Controversy
The 31st Annual National Institute on Criminal Tax Fraud is the annual gathering of the criminal tax defense bar combined with the fourth Annual National Institute on Tax Controversy. This program brings together high-level government representatives, judges, corporate counsel and private practitioners engaged in all aspects of tax controversy, tax litigation and criminal tax defense. For more information, click here or contact Althea Billins at Althea.Billins@americanbar.org.
Where's My Amended Return?
Members: Please be advised of this new service on IRS.gov.
New Jersey IRS Practitioner Directory
Members: Please click here to access or download a copy of the recent New Jersey IRS Practitioner Directory. Our website is currently being revamped, and we will be posting the most current directories as we receive them and will also be sending them via our weekly update. If you have a current directory for your state, please feel free to forward that to firstname.lastname@example.org. Click here to access the directory.
LIU Offers Fall Seminar Presentations
Many of our AAA-CPA members have been speakers at various Long Island University programs. For a schedule of upcoming seminars, please click here.
TTINs and Protecting Taxpayer Identities
AICPA Tax Insider
This article reviews the recently finalized regulations, their history and some limitations in terms of protecting taxpayer identity.
Armed With FATCA, IRS Hunts Offshore Tax Evaders, While Canada Eases Up
In a move tied to budgets, Canada's Revenue Agency is cutting its top staff focused on international tax evasion. Cuts to experienced personnel who ferret out aggressive tax planning appear to be deepest, despite comments by MP Gerald Keddy that "the CRA is not reducing the number of auditors, nor the number of tax evasion and tax avoidance experts."
IRS Issues 401(k) After-tax Rollover Rules
There are new rules for taking after-tax money out of your 401(k), and they are taxpayer-friendly. Basically, if you have after-tax money in your 401(k) retirement account, you can roll it into a Roth IRA where it will then grow tax-free (as opposed to tax-deferred). You don't have to pay pro rata taxes on the distribution, accounting for the percentage of the pretax money in your 401(k).
Tax Refunds Will Be Cut for ACA Recipients
Detroit Free Press via USA Today
A significant benefit of the Affordable Care Act is the opportunity to receive money-saving tax credits up front to cut the overall cost of health insurance, but now hundreds of thousands of consumers could owe back some of that money next April.
Those affected took advance payments of the premium tax credit for health insurance. Some married couples could owe $600 or $1,500 or $2,500 or even more.
Study: S&P 100 Companies Paying More Taxes
WalletHub, a personal finance social network, has released an analysis of the rates at which Standard & Poor's 100 companies are taxed at the state, federal and international levels and found they were on average paying more in taxes last year than in 2012, although some are still paying extremely low rates.
The new report, based on tax data from 2013 annual reports, found that the overall tax rate that S&P 100 companies pay has increased by 5.3 percent since 2012.
Top US Senate Tax Law Writers Urge Renewal of Tax Breaks Package
The U.S. Senate's top Democratic and Republican tax law writers both urged colleagues to renew a set of expired federal tax breaks, many of which support renewable energy.
Known as "extenders" and regularly renewed in past years, the package of more than 50 "temporary" provisions expired at the end of 2013, rattling industries that benefit from them.
Democratic Senators Want Exit Tax for Inversions
Two top Democratic senators want companies seeking to shift their legal address abroad to pay an exit tax as they go.
Senate Majority Whip Dick Durbin, D-Illinois, and Sen. Sherrod Brown, D-Ohio, have introduced a bill that would force companies seeking to reincorporate abroad to first pay taxes on cash stashed offshore.
Missed last week's issue? See which articles your colleagues read most.
7701 Las Colinas Ridge, Ste. 800, Irving, TX 75063