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May 15, 2014
Tax Insider
  IN THIS ISSUE:   > Articles   > Sponsored Editorials   > News   > CPA News to Know   > Webcasts   > Video  
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Care.com HomePay  We eat nanny taxes for breakfast. Trust the household payroll specialists.
What's missing from Camp's tax reform proposal?
By Annette Nellen, Esq., CPA
At 979 pages long, it's hard to believe it does not cover everything. Here's a brief look at what it includes and a longer look at what's missing.
Foreign bank account reporting
By Karen M. Nakamura, CPA
FBARs must now be e-filed. Here's what practitioners need to know to comply before the June 30 deadline.
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Final rules on fiduciary fees are issued
The IRS issued final regulations on the controversial question of which costs incurred by trust and estates are subject to the 2% floor on miscellaneous deductions under Sec. 67(a).
Accounting method change procedures for sales-based royalties and vendor allowances are announced
Taxpayers adopting the rules for sales-based royalties and vendor allowances under Sec. 263A and Sec. 471 were given new procedures for obtaining automatic consent to accounting method changes to conform to those rules.
Tax owed on full sale price where taxpayer won't provide cost basis information
A taxpayer who refused to provide cost basis information for securities he sold must pay over $5 million in tax after the 11th Circuit agreed with the Tax Court that he must treat the entire sales price as capital gain.
Tenth Circuit throws out IRS summonses
In a decision that creates a split from five other circuit courts, the Tenth Circuit quashed IRS summonses that were issued after the 23-day period required under Sec. 7609(a)(1).
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Featured AICPA Products
  The CPA's Guide to Financial and Estate Planning
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CPA News to Know
1 IRS e-services: Where are we now and where are we going?
1 IRS issues 2015 inflation adjustments for HSAs
1 AICPA proposes change to net investment income and regular income tax thresholds for estates and certain trusts
1 Tax planning is a critical factor in financial planning
1 Mobile workforce bill should be enacted, AICPA says
1 Cash-method accounting for passthroughs and personal service corps should be retained
1 In the news: It's never too early to think about taxes
Upcoming AICPA Webcasts
  May 19 Proactive Planning: How Your Peers Are Advising Their Individual Clients in 2014
  May 20 Prudent Diversification Practices for Investment Fiduciaries
  May 29 Comfort Letters for Tax Clients
    View webcast calendar
How to fight fatigue
Three CPAs offer tips on how to fight fatigue, both during busy season and in transition periods.

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