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Looking for education hours? Look no further ... we've saved you a seat
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Join us at the AAA-CPA Fall Meeting and Education Conference for exceptional education programming. Courses begin on Nov. 8 featuring the following topics and presenters. Stay tuned for more details on additional sessions being held the rest of the week. Click here for the full brochure and to register today.

Forensic Accounting: The Truth Behind the Numbers (sponsored by Alpern Rosenthal)
This presentation begins with a discussion of forensic accounting, from its definition to the specific characteristics which separate it from auditing engagements and fraud examinations. While examining the legal background, detection and investigative tools used by the forensic accountant will be discussed. Various fraud schemes will be introduced, and it will be discussed how these schemes can be uncovered and prevented. Speaker: Rick Grey, CPA/ABV, CVA, ASA, senior manager, business valuation and litigation support services group, Alpern Rosenthal

Hot Topics and Trustee Tax Traps
This session will cover critical recent developments in estate and gift tax law as well as trust planning. It will incorporate law changes and relevant developments from Mark Parthemer's presentation at the Heckerling Institute. Speaker: Mark R. Parthemer, Esq., AEP, managing director and fiduciary counsel, Southeast region of Bessemer Trust

Planning Possibilities for Portability — Panacea, Pain or Placebo?
Portability, currently a temporary provision in the estate and gift tax regime, will likely become a mainstay. The Department of Treasury recently issued very favorable temporary and proposed regulations that are taxpayer friendly. Understanding portability and how it may change the way to plan will be important to your practice. You will be able to explore whether portability is a pain, the panacea or simply a placebo for your clients' planning needs. Speaker: Lester Law, Esq., CPA, managing director, U.S. Trust, Bank of America Private Wealth Management

Choice of Business Entity
This session will analyze the tax and nontax factors involved in the entity selection process, and discuss why entity selection is such an important decision throughout the life cycle of a business. The presentation will compare and contrast partnerships, limited liability companies, S corporations and C corporations and discuss what type of entities should be formed for different types of businesses. Speaker: Richard B. Comiter, Esq., M.S.M., senior partner, Comiter, Singer, Baseman & Braun LLP Panelists: Domenick R. Lioce, Esq., CPA, Nason, Yeager, Gerson, White & Lioce PA, Sydney S. Traum, B.B.A., J.D., LL.M., CPA, of counsel to Levey, Filler, Rodriguez, Kelso & Magilligan LLP

Identity Theft and the IRS' Response to It
Identity theft is a serious issue for the Internal Revenue Service, and its reaction is ever changing. This program will provide the latest updates from the IRS and teach practitioners how to best serve their clients upon indications of a fraudulent return. Speaker: Christopher Merrill, stakeholder liaison, IRS

Members: It's time to get back to school
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It is not just the kids that are headed back to school this fall. Continue your education at the AAA-CCPA Fall Meeting & Education Conference, Nov. 7-11 at the PGA National Resort & Spa in Palm Beach Gardens, Fla. The program will offer 16 hours of CPE and CLE/MCLE on a 50-minute hour track and 13 CLE/MCLE on a 60-minute hour track, including four hours of accounting and auditing and two hours of ethics. Here are some education sessions that will be offered:
  • What Every Lawyer and CPA Needs to Know About Client Trust Accounts
  • Forensic Accounting: The Truth Behind the Numbers
  • Emerging Technology for Today's Practitioner
Registration is now open, so reserve your spot today and go to the head of the class. Click here for details about the conference.

Corporate taxes: What Obama and Romney would do
CNNMoney    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Policymakers last overhauled the corporate tax system 26 years ago. The economy, international trade and technology have changed drastically since then. The result is an outdated corporate tax code, which tax experts and business leaders say hinders rather than spurs U.S. competitiveness. More

Estate Planning Attorneys Prefer WealthDocx®

Learn why WealthDocx® (published by WealthCounsel®) is the nation’s leading drafting solution for estate planning attorneys. Discover how membership in WealthCounsel equips you with the software solutions, collegial community, continuing education, and other resources to help you build your practice as you change clients’ lives for the better. Click here.

Report on tax refund project garners Republican critiques
The Hill    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Republican lawmakers blasted a pilot program aimed at delivering electronic tax refunds to Americans via prepaid debit cards after a report found the effort fell short. The study, conducted by The Urban Institute and funded by the Department of Treasury, examined a department program targeting taxpayers lacking traditional banking resources. Under the initiative, taxpayers received their refunds on prepaid debit cards, in an attempt to provide electronic funds to those who might not receive refund direct deposits to bank accounts. More

Need for action on fiscal cliff comes from alternate tax
Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail article
An expansion in the reach of the alternative minimum tax is the element of the U.S. fiscal cliff with the largest immediate effect on taxpayers and the most bipartisan appetite for a solution, creating the possibility that lawmakers could use it to propel Congress toward a deal. If Congress doesn't act to prevent the $92 billion tax increase, the number of households facing the alternative tax would increase to 32.9 million from 4.4 million, according to the Internal Revenue Service. That's an average unanticipated tax increase of about $2,800. More

News for brokers, wealth managers and their clients
The Wall Street Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The nation's biggest brokerages appear to be ramping up their efforts to transition clients to flat-fee managed accounts and away from the traditional transaction-fee model. Though this isn't a new trend, some in the industry say it is accelerating as advisers and their parent brokerage firms worry about perceived conflicts of interest and reliable revenue streams for both the firm and the adviser. More

Easy. Online. SurePayroll for Accountants.
SurePayroll Inc., a Paychex company, is the leading easy online payroll alternative for accountants. Using SurePayroll’s full-service online payroll allows accountants and their clients to save time and money, while receiving superior service and security. For more information, visit the Accountant Center at or call 877-954-7873.

Lawsuit against US over Stanford Ponzi scheme can go ahead
Reuters    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A lawsuit claiming U.S. securities regulators were negligent in failing to respond earlier to Allen Stanford's $7 billion Ponzi scheme can go forward for now, a federal judge ruled in Florida recently. U.S. District Judge Robert Scola rejected the U.S. government's motion to dismiss the case, according to court documents. The government claimed the court did not have jurisdiction over the U.S. Securities and Exchange Commission's handling of the Stanford case. More

IRS questions charity's accounting practices
Accounting Today    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The Internal Revenue Service has fined the nonprofit Food for the Hungry $50,000 for overvaluing medicine and other goods that it donated in 2008, part of a larger effort to crack down on overly high valuations of gifts-in-kind. According to a report by The Arizona Republic and Arizona's Call 12 News for Action, IRS auditors said Food for the Hungry claimed to have donated $86.8 million in medicine and other gifts-in-kind that the IRS said were actually worth $92,633. More

Sept. 19
Dealing with Amended Circular 230 and Preparer Registration

Sept. 20
Foreign Investment in U.S. Real Property
Members Only Study Group: Financial Elder Abuse

Sept. 25
Current Status of Shareholder Oppression Claims

Sept. 27
Estate and Financial Planning for Clients Living With Chronic Illness

Sept. 28
Cash Balance Plans, The Basics & Current Employee Plan Compliance Resolution System

Oct. 11
Members Only Study Group: S Corporation Quarterly Update

Oct. 16
Members Only Study Group: State Tax Issues in Partnership Taxation

Oct. 24
New York Chapter Networking Event with the NYU-Stern

Oct. 30
Members Only Study Group: "Disregarded" Entities — Concepts & Issues

Nov. 7
2012 Fall Meeting & Education Conference

Jan. 15
AAA-CPA Luncheon in conjunction with the Heckerling Institute on Estate Planning


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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