Future AAA-CPA Study Groups Announced
Registration is now open for the following Study Groups:
Dec. 9 — S Corporation Quarterly Update, presented by Syd Traum
Dec. 18 — The New AICPA Conflict of Interest Scheme, presented by Jim Rigos
Jan. 20 — Inherited IRAS: What Assets Are Safe?, presented by Leon LaBrecque
Jan. 27 — Community Property for the Migrating Client, presented by Scott Nelson
Feb. 5 — International Operations of Partnership, presented by Jim Lynch
Feb. 10 — Overview of Nexus, presented by Tram Le
Feb. 26 — Bad Debt Deductions and Sales Tax Compliance Best Practices, presented by Judy Vorndran
March 10 — Marketplace Fairness Act, presented by Judy Vorndran
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IRS Paying Millions in Bonuses to Employees Who Are Tax Scofflaws
The Washington Times
IRS employees who made "unintentional" mistakes on their taxes are still eligible to get bonuses this fiscal year, the agency confirmed.
Commissioner John Koskinen announced the bonuses in an email to employees, saying they were a way to reward long-suffering staffers who have put up with budget and workforce cuts and are still keeping the agency humming.
Are Criminals Outsmarting the IRS?
With the Internal Revenue Service scandals of the last 18 months, it might seem that we have lost control of our tax system. The IRS is an essential part of our government, which can't run without taxes. So having it fairly and efficiently run is pretty important.
Retiring Camp on Tax Reform: 'It Can Be Done'
As he prepares to leave Congress, House Committee on Ways and Means Chairman Dave Camp, R-Michigan, says priming congressional Republicans for the difficulties of tax reform could be one of the bigger legacies of his four years atop the powerful committee.
Camp released a tax reform discussion draft in February, which pared back even the most popular of tax breaks.
$1 Billion: That's How Much Walmart Avoids Paying in Taxes Each Year Through Loopholes
In a recent analysis of Walmart's tax spending, Americans for Tax Fairness found that the company "avoids $1 billion a year in taxes" through federal loopholes, and various political shenanigans drive this low tax rate: The big-box giant is absorbing government subsidies both directly and indirectly, through its retail operations as well as its ingenious accounting methods. Overall, the retail giant can evade taxes through overseas accounts, on one hand, and raid the public trust on the other by capitalizing on the benefits system.
Year-end Gifting Rules Revisited
The Internal Revenue Service is reminding individuals and businesses making year-end donations that several important tax law provisions have taken effect in recent years regarding gifting. Household items include furniture, furnishings, electronics, appliances and linens. Clothing and household items donated to charity generally must be in good used condition, or better, to be tax-deductible.
Why Corporate Tax Inversion Rules Are a Moving Target
Crain's Detroit Business
Corporate tax inversions are an area of tax law that has brought recent scrutiny. Politicians call the practice "un-American," while many corporations embrace the practice as a legal way to reduce tax burden.
In the past decade, as many as 45 companies have inverted.
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