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Celebrate the country's birthday with the AAA-CPA
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Can you imagine a better place to celebrate Independence Day than viewing fireworks from a 360 degree panoramic view in the Seattle Space Needle? We can't, so that is where the AAA-CPA will take you as the closing event and installation dinner during the Annual Meeting and Education Conference, June 29-July 5 in Seattle. The week will be filled with discussion on hot topics in the industry and terrific opportunities to explore Seattle. This is one you don't want to miss. For more details on conference sessions, optional events and to register, click here.

Attorney-CPA practice for sale
A practice that is mostly accounting, tax preparation and legal in the northern California area is for sale. The legal practice consists mostly of trusts, probate and business contracts. No litigation is done. The firm has staff in place to assist during tax season. The gross income last year was $436,000 and net income was $206,000. The building is owned and could be purchased or leased. If you have an interest in learning more about this opportunity, please contact Bill Wright at or 916-442-8614 or Executive Director Nicole Ratner at for more details.

2012-2013 Networking and Referral Directory
Members will be receiving the 2012-2013 Networking and Referral Directory in the mail the week of June 4. Please contact Kimmy Livingston at if you do not receive your copy.

Members Marty Davidoff and Karen Tenenbaum to present at the 4th Annual Tax Controversy Forum (AAA-CPA program sponsor) — June 15 — New York
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New York University School of Continuing and Professional Studies is pleased to present the 4th Annual Tax Controversy Forum. The New York University Tax Controversy Forum brings together representatives from the government and expert private practitioners to compare perspectives on a wide range of topics involving federal tax audits, appeals and litigation. Coverage encompasses a broad scope of controversy work, from international issues to ethical problems, sensitive audits and various tax penalties. Please click here to view the brochure or visit their website at for more information.

Report: Middle-class Americans find current tax system morally objectionable
The Huffington Post    Share    Share on FacebookTwitterShare on LinkedinE-mail article
For some Americans, the tax system isn't just about economic interests. It's a question of morality. Middle-class Americans view income tax as a symbol of moral injustice that is connected to exploitation and a loss of personal freedom, according to a recent study in Symbolic Interaction. After conducting 24 semi-structured interviewers with small business people in the South, researchers Jefferey Kidder of the Northern Illinois University and Isaac William Martin of the University of California, San Diego found that the respondents used moral and not economic arguments when discussing the tax system. More

IRS provides automated tax data input for FAFSA form
Accounting Today    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Students completing the Free Application for Federal Student Aid form can now skip the time consuming process of copying their tax data onto the form. Similar to scan-and-populate programs used by professional tax return preparers, the IRS Data Retrieval Tool automatically transfers tax data onto the FAFSA form. Use of the tool not only saves time, but its increased accuracy reduces the likelihood of being selected for verification by the school's financial aid office. More

Your Affordable Estate Planning Solution!

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Senators to investigate tax-exempt vets group
The Hill    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Two top senators said they were launching a bipartisan investigation into whether a nonprofit veterans group is exploiting its tax-exempt status. Sens. Max Baucus, D-Mont., and Richard Burr, R-N.C., expressed concern that a relatively small amount of the funds raised by the Disabled Veterans National Foundation was going to help veterans. Baucus and Burr also cited media reports that asserted that the veterans' group had paid tens of millions of dollars over a three-year span to a marketing and direct mail firm. More

Taxmageddon: Delay in hitting debt limit could upset balance of power in Washington, DC
Forbes    Share    Share on FacebookTwitterShare on LinkedinE-mail article
By now, you know the great taxmageddon story: At the end of the year, a lame duck Congress and a new or newly re-elected president will face the confluence of three extraordinary challenges — the 2001/2003/2010 tax cuts expire, the automatic spending cuts adopted in 2010 begin to bite and the Department of the Treasury loses its ability to borrow new money. But what if that schedule is wrong? More

Heard in more US states: See you in tax court
Reuters    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Georgia State Representative Allen Peake owns 20 restaurants and this year he took his frustrations with his tax bills to the state capitol, where he helped push through legislation creating a new state tax court. "I've had several sales tax audits done and disputed them, and never felt I had a fair shake," said Peake, echoing the views of other business owners. Before Peake's bill passed, Georgia taxpayers challenging state tax authorities had to pay disputed taxes before appealing them. Their appeals would be heard by the same Department of Revenue that levied the tax in the first place. More

SEC unlikely to file charges in Lehman case
Reuters    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The staff of the U.S. Securities and Exchange Commission has concluded its investigation into Lehman Brothers Holdings and will not likely recommend charges, according to the excerpt of a memo sent to Reuters. The excerpt, which was not dated, was sent along with an anonymous letter to Congress alleging that SEC Chairman Mary Schapiro made inaccurate statements about the agency's Lehman probe during a hearing. More

May 30
Today's Reality: The IRS as Regulator of Tax Practice Conduct

May 31
Members Only Study Group: What Your Clients Can Do in 2012 to Permanently Save

June 5
Understanding IRS Criminal Investigations

June 12
Members Only Study Group: S Corporation Quarterly Update

June 14
7th Annual South Jersey Working Together Conference

June 15
4th Annual Tax Controversy Forum

June 20
The Art of Tax and Valuation in the World of Art, Collections and Other Tangible Assets

June 22
Annual Income Tax Seminar — Golden Gate University, San Francisco
Annual Income Tax Seminar — University of San Diego, San Diego
Annual Income Tax Seminar — Whittier Law School, Costa Mesa, Calif.

June 30
Annual Meeting and Education Conference


The AAA-CPA Weekly Update

Colby Horton, Vice President of Publishing, 469.420.2601
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Katina Smallwood, Content Editor, 469.420.2675   
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