The AAA-CPA Weekly Update
Apr. 22, 2015

Sen. Brian J. Feldman to Speak at April 30 Capital Area Chapter Meeting
Join Sen. Brian Feldman, D-Maryland, April 30 at the Far East Restaurant in Rockville, Maryland, as he discusses the legislative issues of interest to the group that came up during the Maryland General Assembly's 2015 Legislative Session. Not an AAA-CPA member? Join now and attend this chapter meeting for free! Click here for registration information.More

Howard Rosen to Present Special Drafting Considerations for Asset Protection Trusts Study Group April 28
AAA-CPA member and Asset Committee Chairman Howard Rosen, Esq., will be presenting a study group on Tuesday, April 28, at 2 p.m. EDT. This study group will cover how to draft certain protective provisions which should be included in asset protection trusts. Click here to register for this informative study group. More

Jeffrey S. Gartzman
The Gartzman Law Firm P.C.
Jeffrey S. Gartzman is an accomplished Atlanta tax attorney and CPA who has been practicing tax law in Atlanta for over 30 years. His goal is to help you resolve Internal Revenue Service and state tax problems, find tax relief and settle tax debt. Jeffrey S. Gartzman is a former IRS Taxpayer Education Program instructor. He is also an accredited personal financial specialist with the American Institute of CPAs. Gartzman has been licensed as a tax attorney since 1982 and licensed as a CPA since 1984. He has received an AV rating — the highest possible rating — from the Martindale-Hubbell Law Directory. Gartzman is an active member in Atlanta and Georgia professional associations for tax lawyers and CPAs. Gartzman serves on the tax section leadership team for the Georgia Society of CPAs, a small, dynamic group of CPAs and tax attorneys who meet with the IRS and Georgia Department of Revenue annually to discuss best practices and updates to the tax law and tax procedure. Before opening his own law firm in 1988, Gartzman worked with an established Atlanta law firm, Stokes, Shapiro, Fussell, Wedge, et al. Prior to that, he was with Touche Ross and Co., predecessor to Deloitte LLP, a Big Four international accounting firm. Click here for more information on The Gartzman Law Firm P.C.More

Sydney S. Traum Celebrates 35 Years of Recognition
Congratulations to AAA-CPA former President Sydney S. Traum on his 35 years of Martindale-Hubbell AV Preeminent® recognition.More

IRS Relying Heavily on Technology for Fraud Detection and Taxpayer Service
Accounting Today
Faced with steep budget cuts, the Internal Revenue Service directed more taxpayers to consult websites and its mobile app for answers to their questions this year rather than visiting the IRS's walk-in Taxpayer Assistance Centers or calling its phone lines, while also using technology to detect tax refund fraud. An interim report from the Treasury Inspector General for Tax Administration on tax season that was publicly released a day after the end of filing season found that as a result of continued budget cuts, the IRS is depending even more on technology-based services, while fewer customers are receiving live assistance from the IRS this year. More

Largest Tax Bills: 1 Company Paid 2,994 Percent
USA Today
There are 10 companies in the Standard & Poor's 500, including energy company Anadarko Petroleum, data center operator Equinix and online auctioneer eBay that paid effective tax rates of 60 percent or greater during last calendar year, according to a USA Today analysis of data from S&P Capital IQ. A company's effective tax rate is a way to measure what percent of a company's taxable income goes to the taxman.More

House Quietly Passes Tax Exemption for Megadonors
The House passed legislation that would protect major donors like the Koch brothers and Tom Steyer from having to pay gift taxes on huge donations to secret money political groups. The legislation, which now heads to the Senate, is seen by fundraising operatives as removing one of the few remaining potential obstacles to unfettered big-money spending by nonprofit groups registered under a section of the tax code that allows them to shield their donors' identities.More

Map: Breaking Down the $11.8 Billion in Taxes Paid by Immigrants Living Here Illegally
The Washington Post
Here's a talking point for Democrats: President Barack Obama's executive actions on immigration will generate an extra $845 million in taxes annually from immigrants living here illegally. But that's just a drop in the bucket compared with the $11.8 billion they already pay.More

IRS Names Microcaptives as Top Abusive Tax Scheme
Insurance Journal
The Internal Revenue Service is growing increasingly uncomfortable that an increasing number of smaller companies and professional firms have been doing what larger companies do — creating their own or joining a captive insurer. The IRS believes some of these smaller companies are creating these so-called "microcaptives" in order to lower their taxable incomes and not to insure against risks.More

House Votes 240-179 To Repeal Estate Tax
The House of Representatives voted to kill the federal estate tax 240-179, with seven Democrats joining. That doesn't mean that the estate tax is going away anytime soon, but anti-death tax advocates say it sets the stage for possible repeal in 2017. Significantly, the bill keeps in place a provision called "stepped up basis" that allows capital gains to escape taxation if passed to heirs. More