January 30, 2014
Corporate Taxation Insider
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CCH Wolters Kluwer  Asset Management Challenges? Guardian Industries made big improvements.
A valuation penalty is determined at the partnership level in a sham transaction
By David Click, J.D.
The Supreme Court decides whether a 40% penalty can be applied in a TEFRA partnership proceeding.
Determining the taxability of S corporation distributions: Part I
By Tony Nitti, CPA, MST/The Tax Adviser
This article takes a detailed look at the tax treatment of S corporation distributions for corporations without accumulated earnings and profits.
  CCH Wolters Kluwer  
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Business Valuation and Federal Taxes: Procedure, Law and Perspective, 2nd Edition
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AICPA  Visit the Tax Practioner's Toolkit
Guidance issued on accounting method changes under repair regs.
The IRS issued long-awaited guidance on accounting method changes under the so-called repair regulations, which govern the treatment of expenditures incurred in acquiring, producing, or improving tangible assets.
Minimum essential coverage and shared-responsibility penalty rules provide transitional relief for individuals
Proposed regulations answer questions about the "shared-responsibility payments" individuals are liable for if they fail to maintain minimum essential health care coverage.
Simplified method offered for requesting extended time to make portability election
Executors of certain estates that failed to file Form 706 to elect portability of a deceased spouse's estate tax exclusion will have a limited-time opportunity to file Form 706 and make the election, instead of requesting a letter ruling granting an extension.
District court says premium tax credits are available in federal health care exchanges
The federal district court for the District of Columbia held that the Sec. 36B premium tax credit is available to taxpayers who purchase health insurance through the 34 state health care exchanges that are run by the federal government.
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New In The Store
  2013 Corporate Tax Returns Videocourse
This video-based CPE course, featuring Sidney Kess, Brian Greenstein, and an expert panel, reviews major developments affecting 1120 and 1120S return preparation and useful tax-planning strategies.
  Business Ethics for Tax: Real-World Business Ethics for Tax Practitioners
Explore case studies drawn from real-life situations involving CPAs in tax practice. From tax shelters to preparing small business tax returns, learn about ethical issues in the context of tax services and taking positions on tax issues that range from "probable" to "more likely than not" to a "realistic possibility."
  Standards in Personal Financial Planning Services: Compliance Toolkit
This toolkit provides everything you need to understand and implement the new PFP Standard, including sample engagement letters and customizable checklists to document and communicate with clients during all stages of an engagement.
Didn't find what you were looking for? Visit the AICPA Store
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AICPA Member Discount Program
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Save on shipping this tax season. AICPA members save up to 29% on select FedEx® shipping services. Click here for details.
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D'Amore-McKim Northeastern University  Online MST Program. Earn your Master of Science in Taxation 100% online.
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What's happening with marketplace fairness?
Read this blog post for an analysis of what the House Judiciary Committee's "Principles on Internet Sales Tax" could mean to your business.
CPA News to Know
1 Final version of net investment income tax form released
1 IRS issues final rules on sales-based royalties and vendor allowances
1 Partnership basis rules proposed
1 Final regs. prescribe treatment of bond premium carryforward
1 AICPA letter to Senate Finance Committee recommends tax administration reforms
1 Swiss court stops handover of tax information to U.S.
1 Tax relief for disaster victims: We can do better, sooner
Upcoming AICPA Webcasts
  Feb. 5 Lessons Learned—2013 Women's Leadership Summit
  Feb. 6 The Final Repair Regulations Dissected (Update)
  Feb. 7 Nonprofit Accounting and Auditing Annual Update
  Feb. 12 Implementation of the New 3.8% Net Investment Income Tax on Individuals
  Feb. 12 Financial Forecasting: Planning for Success
  Feb. 13 New FASB Developments for Business & Industry
  Feb. 18 Fraud in Revenue and Cash Receipts Cycles
    View webcast calendar
How do you attract and retain top talent?
Two CFOs explain the key to hiring and keeping the best people.

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