This article discusses five things tax professionals can do to boost their security immunity.
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Practice Management & Professional Standards
Client, attorney, and preparer emails were protected from disclosure
Emails between client, attorney, and return preparer may be protected from disclosure under certain circumstances.
Taking back control with quality management
Upcoming revisions to the AICPA Statements on Standards for Tax Services may include standards for quality management in a tax practice. The SSTS Revision Task Force is seeking comments from stakeholders as it undertakes this project.
Automating indirect state and local tax compliance process
Companies should design and adopt a well-organized systematic approach that can identify candidates ripe for automation to streamline the indirect compliance process.
Working with cognitively impaired taxpayers
CPAs can take proactive steps to assist cognitively impaired clients in managing estate assets and tax responsibilities.
2021 tax software survey: Shares of respondents and product and company information
Bonus: The percentages for all 13 products, including a breakdown of their usage among firms ranked by ranges of numbers of preparers, in the 2021 tax software survey.
Practitioners’ role in the continuing evolution of Circular 230
Practitioners and the organizations they are involved with can participate in facilitating the ongoing applicability and effectiveness of Circular 230.
Correlating culture with retention in small accounting firms
Defining a practice’s culture and values early can help retain staff and avert a crisis.
2021 tax software survey
Our annual survey shows how CPAs rate the tax preparation software they used during this year’s tax season and how it handled retroactive tax law changes that happened during the season.
Risk mitigation best practices
CPAs can limit liability risks by carefully drafting engagement letters, avoiding giving informal advice, fully vetting new clients, assessing the firm’s
competence to handle clients’ issues, and maintaining appropriate data security practices.
Academic research for your practice consideration
Recent tax research papers focus on interactions practitioners have with clients on contentious issues; how state regulations affect the quality of preparers; the effect of addback statutes on corporate innovation; and how to mitigate the effect of the new GILTI.
A conversation on future-proofing CPA firms
The experts on the AICPA Tax Practice Management
Committee discuss the technology updates that helped their firms endure through COVID-19 and beyond.
Your federal tax privilege checklist
Tax practitioners can rely on several doctrines
to preserve the confidentiality of client communications, but they must follow appropriate
procedures and provide clear documentation to protect the privilege in IRS exams or legal proceedings.
Practical highlights of recent tax research
This article looks at recent academic research of interest to tax practitioners.
Small firm lessons from the pandemic
Small firms improvise to maintain productivity while
keeping employees and clients safe from COVID-19.
Modernize and virtualize your tax practice: Part 2
The shift to a more virtual business environment has been accelerated by the COVID-19 pandemic. Firms must be mindful of this evolving business model as they explore new methods for building up client relationships.
As tax season launches, AICPA checks in on the tax community
After a year of many changes, this tax season looks very different. The AICPA wants to hear your feedback about this tax season so it can better support the profession.
Building good habits: Keeping up to date
Students’ future success will depend on learning routines for staying current with constantly changing tax laws, accounting standards, business practices, and technology.
E-signatures: What will 2021 bring?
To alleviate hardships caused by COVID-19, the IRS temporarily expanded the forms that can be filed with e-signatures, but future policy is uncertain.
AICPA focuses advocacy efforts on mobile workforce legislation
Congressional action could simplify the business landscape for interstate workforce models that have expanded sharply due to stay-at-home orders isssued to fight the COVID-19 pandemic.
employee benefits & pensions
Profits interests: The most tax-efficient equity grant to employees
By granting them a profits interest, entities taxed as partnerships can reward employees with equity. Mistakes, however, could cause challenges from taxing authorities.
