A new guide posted by the Financial Crimes Enforcement Network describes BOI rules, answers questions, and provides tools to assist with compliance with the BOI reporting rules.
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Practice Management & Professional Standards
A path to improving firms’ employee retention
A thriving a workplace for tax practices depends upon adopting strategies that can improve employee retention, inclusion, growth, and effectiveness.
What tax litigators wish other tax professionals knew
Tax planning and compliance professionals can better position their clients — and themselves — against any civil or criminal federal tax enforcement action by taking these steps and precautions.
AICPA finalizes new standards on tax positions
Recent revisions to the SSTSs effective beginning in 2024 include dividing standards on tax positions between two sections.
Cybersecurity for tax pros
John Sapp, CPA, Chief Revenue Officer, Drake Software, discusses some ways tax professionals can protect their clients’ data and prepare for the worst.
Insights from academic tax research to inform tax reform and practice
Research papers focus on the use of big data in tax compliance, the management of corporate tax risks, profit shifting spurred by tax holidays, how low-ETR companies avoid taxes, and how companies use savings from tax avoidance.
2023 tax software survey
CPAs assess how their return preparation products performed.
Tips and tricks for onboarding new clients
Members of the AICPA Tax Practice Management Committee discuss their processes for determining whether prospective clients are a good fit for their firm and, if so, establishing that relationship.
AICPA joins coalition to increase awareness of new BOI requirement
Under the requirement, most companies created in or registered to do business in the United States must report their beneficial ownership information (BOI) to the Financial Crimes Enforcement Network.
IRS must refund excessive PTIN fees it charged
Fees charged to obtain and renew PTINs were excessive.
Complying with the Safeguards Rule for information security
An extended deadline is fast approaching for implementing some elements of an information security plan under the FTC’s Safeguards Rule.
The QAR: Handle with care
A qualified amended return can allow taxpayers to avoid certain penalties, but only in closely circumscribed circumstances.
From Boomers to Zoomers: Transitioning clients for retirement
Firms should have orderly processes for transitioning partners into retirement to maintain the confidence of clients and the trusted advisers who will continue to serve them.
Closing the gap between accounting education and the workplace
Accounting educators can better prepare students for the working world with courses that present increasingly complex real-world scenarios and develop the skill of asking questions and learning from prior mistakes.
Documentation and recordkeeping for tax practitioners
The AICPA provides extensive guidance to help practitioners structure a record-retention policy that complies with the Internal Revenue Code and the AICPA Code of Professional Conduct.
Working remotely: A tax practitioner’s checklist
Despite the trend toward working from home and other nonoffice locations, tax practitioners still must meet professional requirements.
Leading the new, flexible tax practice
Executives have an opportunity to transform their organizations. The key is to focus on culture and innovation.
Tax practitioner issues related to Sec. 1202 exclusion reporting
The lack of guidance and regulations and the unwillingness of some companies to provide information to shareholders places taxpayers and tax practitioners in a difficult situation.
Practice and policy insights from academic tax research
Federal, state, and international tax issues are often examined, as well as the impact of nontax developments on tax policy and behavior.
Proposed AICPA tax standards address new concerns
The AICPA is seeking comments by Dec. 31, 2022, on proposed changes to the Statements on Standards for Tax Services, which have been reorganized and amended to reflect the current state of the profession and the emerging needs of today’s members.
TAX PRACTICE MANAGEMENT
2025 tax software survey
AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.
