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Home   Membership   Calendar   Foundation   Links   Job Board   Feb. 29, 2012


Don't miss a dynamic program in a charming city
AAA-CPA    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Join us April 27-29 in Annapolis, Md., for an exciting weekend with fellow AAA-CPA members and guests. While staying in the beautifully restored Historic Inns of Annapolis Maryland Inn, you can earn up to eight hours of CPE and CLE/MCLE on a 50-minute hour track and six and a half hours of CLE/MCLE on a 60-minute hour track on subjects ranging from ethics of estate planning to hot topics in multistate taxation. Click here for the full session descriptions and registration details.

Member update
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Past President Allen D. Webster has become of counsel to Paul Frank + Collins P.C. in Burlington, Vt. Full updated contact information is available online at our find an attorney-CPA link on

Poll: Obama's millionaire tax proposal is popular
The Associated Press via New York Daily News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Most people like President Barack Obama's proposal to make millionaires pay a significant share of their incomes in taxes. Yet they'd still rather cut spending than boost taxes to balance the federal budget, an Associated Press-GfK poll shows, giving Republicans an edge over Democrats in their core ideological dispute over the nation's fiscal ills. The survey suggests that while Obama's election-year tax plan targeting people making at least $1 million a year has won broad support, it has done little to shift people's basic views in the long-running partisan war over how best to tame budget deficits that lately have exceeded $1 trillion annually. More

IRS revises payroll form for payroll tax cut extension
Accounting Today    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The Internal Revenue Service has released a revised Form 941 to allow employers to properly report the newly extended payroll tax cut, which has now been extended through the end of the year. President Barack Obama signed the Middle Class Tax Relief and Job Creation Act of 2012 into law. Under the law, workers will continue to receive larger paychecks for the rest of this year based on a lower Social Security tax withholding rate of 4.2 percent, which is two percentage points less than the 6.2 percent rate in effect prior to 2011. More

US announces 3.6 billion in tax credit awards    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The United States Treasury Department has announced the award of 3.6 billion in New Markets Tax Credits, which permit individual and corporate taxpayers to receive a credit against federal income taxes for making equity investments in vehicles known as Community Development Entities. "For so many vital economic development projects across the country, the NMTC has been a critically important piece of the puzzle," said the Treasury Department's Deputy Secretary Neal Wolin. "This targeted tax credit has a strong record of spurring economic growth in low-income and distressed communities across our country." More

Schumer's Wall Street backers targeted in tax fairness standoff
Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The Democratic Party's tax-fairness campaign theme pits Sen. Chuck Schumer of New York, among the chief architects of that message, against some of his most influential constituents and top campaign donors. Democrats are renewing their bid to end the carried interest tax break for private-equity managers after Republican presidential candidate Mitt Romney's 2010 return, released last month, showed he used it to help limit his effective tax rate to 13.9 percent. More

Regulators scrutinize ties with exchanges
The Wall Street Journal via Financial Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
U.S. regulators have launched an inquiry into the ties between stock exchanges and certain electronic-trading firms, according to people familiar with the matter. Aspects of the probe, which is in its early stages, came to light in a regulatory filing from Bats Global Markets, a computer-driven U.S. exchange that is planning an initial public offering. More

IRS tweaks nonprofit disclosure requirements for 2011 tax year
North Bay Business Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The Internal Revenue Service has clarified a handful of provisions related to its form 990 in tax year 2011, the document used in tax filing for nonprofit organizations that was significantly expanded in 2008. The changes, while small in comparison to the original redesign, represent a furthering of efforts by the IRS to fortify and clarify the disclosures required by nonprofits. More

March 8
Transferring/Modifying Business Investment Interests — PA/DE Chapter Meeting

April 12
Legal and Accounting Issues in Private Fund Advisor Examinations

April 20
Planning for Mineral Interest Owners — South Texas Chapter Meeting

April 27
Northeastern Regional Education Conference

May 4
Estate and Financial Planning for Clients Living with Chronic Illness

May 8
Missouri Chapter Meeting

May 11
Florida Meet and Greet Social

May 18
Preserving the $5,120,000 Exemption and Other Estate Planning Ideas — South Texas Chapter
The Attorney-CPA Weekly Update
Colby Horton, Vice President of Publishing, 469.420.2601   Download media kit
Katina Smallwood, Content Editor, 469.420.2675   Contribute news
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