The AAA-CPA Weekly Update
Apr. 29, 2015

Travel Less Than a Day's Drive or a Few Hours on a Plane to Join Us for the 2015 AAA-CPA Annual Meeting & Education Conference, June 30-July 5 in Branson, Missouri
Branson is centrally located within at day's drive of one-third of the U.S. population in the Ozark Mountains of southwestern Missouri. There are three airports to fly into to get to Branson:

All airports have shuttle services and rental car companies at the terminals. Advance reservations are highly recommended. Click here for all the details on the best way you can spend the Fourth of July holiday week this year. More

Edward D. Brown, Esq., to Present Integrated Estate Plan — What Works and Does Not Work in Today's Asset Protection Planning Arena May 20
Join AAA-CPA member Edward D. Brown as he explains the sound foundation for properly structuring effective strategies for asset protection and estate planning; discusses which clients should strongly consider creating such a plan; addresses the concerns clients raise in setting up such a plan; explains how the plan can work almost seamlessly in the client's day-to-day activities; and covers the types of assets most conducive to this type of planning. Topics also include a "walk-through" on how to structure a recommended asset protection and estate planning approach; recent case law opinions that provide a blueprint of what works and does not work in today's planning; and how the client can maintain control and benefits from the "entrusted" assets without any significant detriment to the effectiveness of the planning. This one-hour CPE and (M)CLE education program will be taking place May 20 at Engel & Reiman PC in Denver. Click here for more information and to register for this Colorado chapter meeting.More

AAA-CPA Co-sponsoring Annual NYU Tax Controversy Forum — June 5
The annual NYU School of Professional Studies Tax Controversy Forum features interactive presentations delivered by expert practitioners who cover a broad range of issues regarding tax audits and tax litigation at all levels. Content encompasses the timeline of controversy work — from planning for the examination of a return and audit to administrative appeals processes and litigation techniques and strategies. Panelists representing both taxpayers and the government share views on the latest issues and perspectives on tax controversies. Attendees will learn practical solutions and valuable insights from leading authorities from across the profession. The forum provides you with an ideal setting to share ideas, exchange views, learn what others are doing and obtain credit for continuing education. For more information and to register, please click here.More

Seeking Study Group Presenters
Attention members and affiliates: The AAA-CPA wants you to present a study group. Study groups are one-hour teleconferences held on Tuesdays and Thursdays during which the presenter speaks on a AAA-CPA-related topic of his or her choosing. Past topics include the Marketplace Fairness Act, tax liability companies versus S corporations, sales tax audits and choice of entity. We are currently booking study groups for July and beyond. Please click here to download a interest form or email for more information on presenting. More

Congresswoman Introduces Bill to Limit IRS Wage Garnishments and Property Seizures
Accounting Today
Rep. Bonnie Watson Coleman, D-New Jersey, has introduced legislation that would provide relief to low-income and economically vulnerable Americans who would otherwise be subject to wage garnishments by the Internal Revenue Service. The Taxpayer Economic Hardship Protection Act of 2015 would codify procedures to ensure the IRS cannot issue levies, including wage garnishments, retirement account garnishments or seizing of any property against those who qualify as likely to experience economic hardship, defined as individuals with incomes at less than 250 percent of the federal poverty rate. More

Extras on Excise: Will 2015 Bring Severance Tax Changes in Ohio and Pennsylvania?
Bloomberg BNA
A few states — notably, Pennsylvania and Ohio — have debated this year whether or how to impose severance tax on the oil and gas industry. Will any change actually come? The governors of both Pennsylvania and Ohio think the oil and gas industry should pay more money to state coffers via severance tax, which is a tax on the extraction of natural resources.More

IRS Paid $3 Billion in Tax Credit Mistakes Plus $5.8 Billion in Erroneous Refunds
The Treasury Inspector General for Tax Administration is an official Department of the Treasury watchdog that reports on the IRS. In the last few years, that is a big job. There has been no shortage of scandals, from targeting to lavish spending, to bonuses and more. This time, the Inspector General has issued a new report revealing some big errors involving tax credits.More

Immigrants Working Illegally in the US File Tax Returns Without the Fear of Deportation
Texas Public Radio
VideoBrief To work in the United States, immigrants who are here illegally often use false social security numbers or ones that belong to other people. Then many file their income tax returns using a special number provided by the Internal Revenue Service. Those immigrants can file their taxes without fear of deportation as the IRS doesn't report their illegal status to homeland security.More

Big Differences Divide Democrats, GOP on Overhauling US Tax Code
Los Angeles Times
Despite optimistic talk from Democrats and Republicans about overhauling the tax code, General Electric Co. recently showed that corporate executives aren't holding their breath for a bipartisan deal any time soon. GE said that as part of a major restructuring, it would bring back $36 billion in overseas cash and pay $6 billion in taxes to do it — even though changes long under discussion in Washington, D.C., could have significantly reduced that tax bill.More

Boehner: Odds of US Corporate Tax Overhaul Only 50-50
House Speaker John Boehner said a long-sought overhaul of U.S. corporate tax law has barely an even chance of being enacted by Congress this year, though both chambers are under Republican control. The Ohio Republican cited a "50-50 chance at best" during an interview with Bloomberg.More