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1 If By Land Earns 8 CPE/6.5 CLE/MCLE
Join us in Boston on July 3 at the luxurious Fairmont Battery Wharf for part one of the 2013 AAA-CPA Annual Meeting & Education Conference. This full day of education will include a look at the history of income tax in America, nontraditional relationships in estate planning, post-mortem estate planning and an afternoon on how to succeed in federal court.

Click here to make your hotel room reservation or call 1-800-441-1414.

Please note: You can still book your cabin with rates based on availability. Just contact Aimee at Cadence Travel at 1-877-551-4646 or She will help you get the best deal she can for the cruise.

Click here for full details about the conference and to register today.

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  BusinessDocx™: Engineered for Revenue Generation

BusinessDocx™ is the nation’s most powerful business planning document assembly system. From WealthCounsel®, publishers of WealthDocx®, BusinessDocx was created in collaboration with nationally recognized business law experts to support attorneys of all experience levels, from solo practitioners to large firms. View a demo now!

Switch to T-Mobile today
The AAA-CPA has partnered with T-Mobile to offer cardholders discounts on wireless voice, messaging and data services. With the T-Mobile Advantage Program, an incredible wireless deal gets even better. You'll get unlimited talk, text and Web with no annual contract and no overages. Every line on your account enjoys a 10 percent service discount on unlimited talk, text and Web.

Benefits of the T-Mobile program:
  • 10 percent discount off service plans (includes voice, text and email services)
  • Discount applies to all lines on the account
  • Small down payment on the latest 4G devices or bring your own phone
  • Waived activation fees (savings of $35 per line)
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  • No annual contract
Start saving now! New customers or existing customers adding a new line of service should call 1-866-464-8662, option one, for details. Be sure to mention the promotional code 11777MOFAV. Ask for the AAA-CPA discount.

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  Powerful, Integrated Accounting Software

aACE Business Suite for Mac and PC is a powerful accounting solution
. Because accounting is fully-integrated with the CRM and ERP portions of the solution, aACE allows users to pull reports in real-time, reduce errors, integrate best practices, and much more. Learn more about aACE Business Suite.


E. Martin Davidoff and William Noll named practitioner system and procedural solving virtual leaders
The purpose of the 30 minute meetings is to give practitioner leaders an opportunity to elevate significant systemic and procedural concerns that are created and controlled within the Internal Revenue Service, while providing possible recommendations as an ongoing joint partnership to reduce taxpayer burden and increase compliance. Practitioner leaders are expected to keep their eyes and ears open for these types of concerns. They will research, brainstorm possible remedies and elevate them with the intent to obtain a response from the IRS, which will then be shared with respective memberships. Davidoff will represent New Jersey, and Noll will represent Pennsylvania.
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Proposed deferred pay rules present tax-saving opportunities
Bloomberg BNA
Pending the implementation of final deferred compensation rules, proposed income inclusion provisions under Treasury Regulation Section 1.409A-4 include certain "gifts" on which taxpayers can rely, said Daniel L. Hogans, a partner with the law firm Morgan Lewis. The income inclusion regulations are substantially complete, as are the regulations that address Section 457(f), Hogans said.

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Federal tax update — April
by David De Jong, Esq., CPA, Stein Sperling Bennett De Jong Driscoll PC
In McAllister v. Commissioner, the tax court determined that an employer's cancellation of a debt to the company does not constitute constructive wages but represents cancellation of debt income subject to the insolvency exception.

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Tax laws that don't make sense — Part 1, gambling losses
By E. Martin Davidoff, CPA, Esq., E. Martin Davidoff and Associates
The 1976 movie "Network" had one of its characters, a news anchorman, go off script and state, "I'm as mad as hell, and I'm not going to take this anymore" and urged America to open their windows and yell the phrase. Here's a link to that memorable scene.

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IRS problem started with vague tax exemption rules
Los Angeles Times
In spring 2010, agents in the Cincinnati office of the Internal Revenue Service, which handles applications for tax-exempt status, faced a surge of filings by new advocacy groups, with little guidance on how to treat them. Their decision to deal with the problem by singling out tea party and other conservative groups for extra scrutiny has now triggered a criminal inquiry, congressional investigations, the departure of two top IRS officials and the naming of a new acting commissioner.
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10 US cities with the lowest taxes
The Office of Revenue Analysis reviewed the estimated property, sales, auto and income taxes a family paid in 2011 in the largest city in each state. One of the biggest factors in how much a family can expect to pay is the state and local tax rates affecting their city. Personal income tax is one of the key factors. Seven states have no income tax, and six of the 10 cities with the lowest tax burdens are in these states.
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Looking for similar articles? Search here, keyword LOW TAX.

Obama budget would raise taxes by nearly $1 trillion
The Washington Post
President Barack Obama's most recent budget request would reduce borrowing by $1.1 trillion over the next decade compared with current law — almost entirely through higher taxes on the rich, large estates and smokers, congressional budget analysts said. In addition to raising nearly $1 trillion in new taxes, the president's blueprint would also cut spending modestly, according to the analysis by the nonpartisan Congressional Budget Office.
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US tax chief ousted in scandal
The top tax official in Washington, D.C., was fired as President Barack Obama sought to stem a rising tide of criticism over the Internal Revenue Service's targeting of conservative groups for special scrutiny. Seeking to regain the initiative amid a series of controversies that have threatened his second-term agenda, Obama said new leadership was needed to restore public confidence in the IRS, whose reputation for political independence has suffered a major blow.
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Pritzker-as-Romney reverses parties on offshore havens
Republicans defended Mitt Romney against criticism from Democrats that he avoided taxes by keeping money stashed overseas. Those roles are now reversed with the disclosure that President Barack Obama's pick to run the Department of Commerce does the same thing. The nomination of Chicago billionaire Penny Pritzker marks the second time this year that Obama has put forth a cabinet nominee with offshore accounts — months after he castigated Romney, the Republican presidential candidate, for utilizing them.
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Top writers: IRS scandal bolsters code revision
The scandal at the Internal Revenue Service reinforces the case for revising the U.S. tax code, Congress's top tax writers said in an interview with Bloomberg Television. "This actually leads to new momentum for tax reform," said Senate Finance Committee Chairman Max Baucus in a joint interview with House Committee on Ways and Means Chairman Dave Camp.
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Missed last week's issue? See which articles your colleagues read most.

    Tax laws that don't make sense — Part 1, gambling losses (By E. Martin Davidoff, CPA, Esq., E. Martin Davidoff and Associates)
AAA-CPA opposes Marketplace Fairness Act (AAA-CPA)
2014 Northeastern Regional Education Conference survey (AAA-CPA)
Study group audio now available for purchase (AAA-CPA)
AICPA Expert Witness Skills Workshop, July 11-13 in Seattle (AICPA)

Don't be left behind. Click here to see what else you missed.

May 23
Members Only Study Group: S Corporation Quarterly Update

May 30
Pay or Play: What You Need to Know Now About the Affordable Care Act

June 4
Discussing the New 3.8 Percent Tax
Hot Topics in New York Tax Enforcement

June 6
Summit on Emerging Corporate Governance Trends for Lawyers and Accountants
8th Annual South Jersey Working Together Conference
Paradigm Shift: The ATRA-Math Planning after the American Tax Relief Act of 2012

June 13
Merger and Acquisition Litigation

June 14
5th Annual Tax Controversy Forum

June 20
Georgia Chapter Meeting

June 21
Choice of Entity: Restructuring to Avoid the Medicare Surtax

July 3
AAA-CPA Annual Meeting and Education Conference

July 11
PA/DE Chapter Meeting

July 16
Members Only Study Group: Where the Lawyer Ends and the CPA Begins

Aug. 8
PA/DE Chapter Meeting

Sept. 12
PA/DE Chapter Meeting

Sept. 19
Georgia Chapter Meeting

Oct. 15
Georgia Chapter Meeting

Nov. 6
AAA-CPA Fall Meeting & Education Conference

Nov. 4, 2014
AAA-CPA Fall Meeting & Education Conference


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Colby Horton, Vice President of Publishing, 469.420.2601
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