AICPA standards

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.

Proposed revisions to the AICPA tax standards

The AICPA released proposed revisions to the SSTSs for public comment on Monday. The proposal includes new standards on data protection, reliance on tools, and representation of clients before taxing authorities.

Conflicts of interest: A practical approach for small firms

Even small firms should have a conflict-of-interest policy in place because Circular 230 holds tax leaders within a firm responsible for establishing procedures that ensure firm members comply with the rules.

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.

Ethics and the tax preparer

The AICPA’s complimentary annual webcast on Tax Ethics answers questions on client confidentiality, tax practice quality control, conflicts of interest, records retention, and how to address errors discovered on clients’ tax returns.

Tax Insider Articles

Tax Clinic

New stock repurchase excise tax

The research credit: Funded research

Uncertainties remain in analyzing success-based fees

Corporate AMT: Unanswered questions about its foreign tax credit

More than three dozen IRS letter rulings allow late QOF self-certifications

DEDUCTIONS

Business meal deductions after the TCJA

This article discusses the history of the deduction of business meal expenses and the new rules under the TCJA and the regulations and provides a framework for documenting and substantiating the deduction.

TAX RELIEF

Quirks spurred by COVID-19 tax relief

This article discusses some procedural and administrative quirks that have emerged with the new tax legislative, regulatory, and procedural guidance related to COVID-19.

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