From the AICPA Insider Group
By now, CPAs have heard much about Roth IRA conversions made widely available in 2010. Take the following test to see how much you’ve learned.
PROFESSIONAL ISSUES
The AICPA Council unanimously voted in May 2010 to ballot AICPA members on a proposed change to update the requirements for Institute membership. This change is a part of the first major comprehensive review of membership requirements since the 1950s.
BUSINESS & INDUSTRY
The right strategies can help keep critical capital flowing to your company or clients without undue constraints, and minimize problems if a breach is imminent.
TAX / PERSONAL FINANCIAL PLANNING
CPAs can help clients include federal tax debts in their bankruptcy petition. Here are some of the key considerations and selected strategies for discharging taxes as part of bankruptcy proceedings.
TAX / BUSINESS & INDUSTRY
Starting Jan. 1, 2012, businesses will face the challenge of preparing and issuing a Form 1099 to every vendor to which they made payments totaling $600 or more during the calendar year. CPAs can help businesses prepare for the requirements by making sure their accounting systems are up to the task and that vendors are prepared to process and reconcile to their income records the flurry of new forms.
TAX / FINANCIAL PLANNING
The recently enacted Hiring Incentives to Restore Employment (HIRE) Act contains sweeping disclosure and reporting requirements for taxpayers with foreign holdings. Taxpayers and their CPA advisers should be aware of the range of new provisions and potential penalties for noncompliance.
FORENSIC ACCOUNTING
An AICPA-commissioned survey, Characteristics and Skills of the Forensic Accountant, gives insight into the top skills accounting and legal professionals look for in a forensic accountant.