The AAA-CPA Weekly Update
Jan. 14, 2015

AAA-CPA Change of Address
Please note that effective immediately AAA-CPA has a new mailing address:

1620 Eye Street, NW, Suite 210
Washington, D.C. 20006

Please update your records to include this information. All email addresses and telephone numbers remain the same. Please contact Kimmy Livingston at or 888-ATTY-CPA, ext. 2 with any questions.More

AAA-CPA Co-sponsors the 2015 USC Gould Tax Institute
The 2015 USC Gould Tax Institute will be held Jan. 26-28 at the Westin Bonaventure Hotel in downtown Los Angeles. The Institute features over 70 speakers, including keynote speakers professor Michael Graetz, Karen Hawkins, professor Edward Kleinbard and returning favorites Mark Silverman, Blake Rubin and professor Jeffrey Pennell. Learn the latest tax law developments for corporations, privately held businesses, individuals, partnerships and real estate transactions. Also, learn important tax ethics, compliance and enforcement and estate planning issues. Your registration also includes continuing education credits for attorneys (MCLE/legal specialization), accountants (CPE) and financial planners (CFPR certificants). Register now. To book a room at the hotel, click here or call the Westin Bonaventure at 800-937-8461 and mention the USC Gould School of Law 2015 Tax Institute. The Westin Bonaventure is a no smoking hotel. For more information about registering, exhibiting or sponsoring the institute, visit the institute website, call the USC Gould Continuing Legal Education Office at 213-821-3580 or email

Leon LaBrecque to Present Inherited IRAs: What Assets are Safe? Study Group
AAA-CPA Member Leon LaBrecque, J.D., CPA, CFA, CFP, will be presenting a study group titled Inherited IRAs: What Assets are Safe? Jan. 20 at 2 p.m. EST. This study group will cover how the Clark v. Rameker case set new precedent in how inherited IRAs are handled when dealing with bankruptcy issues. How does this decision effect your clients? Ensure you have the most up-to-date information on this important change. Members and nonmembers of the AAA-CPA are welcome to join. For more information and to register for this program, please click here.More

CCH January Books of the Month
For the month of January only, purchase the following titles at 40 percent off:

"GAAP Guide," 2015
Regular price: $385.95
In December: $231.57

"Multistate Corporate Tax Guide," 2015
Regular price: $758.95
In December: $455.97

"U.S. Master™ GAAP Guide," 2015
Regular price: $158.95
In December: $95.37

Click here to purchase them at the discounted rate.More

Republicans in Congress Just Made It Easier to Cut Taxes
In one of the first items of Congressional business, Republicans gave themselves a new magic wand. When you wave it over a major piece of tax legislation, it has the effect of making the bill appear to be really good for the economy.More

Senators Unveil Bill to Regulate Tax Preparers
Accounting Today
Two Democrats on the Senate Finance Committee have introduced legislation to regulate paid tax preparers in response to the federal court decision that found the Internal Revenue Service had exceeded its statutory authority in regulating preparers. Senate Finance Committee ranking member Ron Wyden, D-Oregon., and Sen. Ben Cardin, D-Maryland, unveiled legislation that provides the Department of the Treasury and the IRS explicit authority to regulate paid tax return preparers.More

New Report Looks at 2014 Income Tax Changes and New Savings Accounts for Disabled Americans
CPA Practice Advisor
Thomson Reuters Checkpoint has released a new special report, Tax Increase Prevention Act of 2014 Extends Many Tax Breaks Through 2014 and Provides for New Tax-Favored Accounts for Disabled Individuals. The report looks at the year-end tax package H.R. 5771 — signed into law by the President Dec. 19 — which includes the Tax Increase Prevention Act of 2014 and the Achieving a Better Life Experience Act of 2014.More

IRS Guidance on Retroactive 2014 Commuter Tax Break
The Internal Revenue Service released guidance, Notice 2015-2, on the retroactive commuter transit parity tax break Congress passed in December as part of the Tax Increase Prevention Act. The break for transit riders was increased to $250 a month retroactive to Jan. 1, 2014, and good through Dec. 31, 2014, up from $130 a month, to match the separate $250 a month break for parking.More

Health Insurance May Muddle Tax Time for Some
USA Today
Federal officials and private tax preparers started offering consumers tax filing help as the first tax deadline that involves health insurance looms in April. About 75 percent of taxpayers will only have to check a box saying they had health insurance in 2014, the Department of Health and Human Services says. Those who received subsidized coverage through the Affordable Care Act exchanges or decided not to enroll will have to go through a more complicated process.More

'Miserable' Tax Season Could Be Worst in Years
The upcoming tax season is likely to be the worst in years — for the Internal Revenue Service and potentially for taxpayers. The reason: The IRS budget keeps getting smaller, and the tax code keeps getting more complicated.More