AICPA Urges End to Abusive Tax Shelters

Exploitative tax shelters are an insult to honest taxpayers and their CPA advisers, the Institute’s tax executive committee said in a letter to Senator Charles E. Grassley, chairman of the Senate Finance Committee, who is proposing legislation to curtail such arrangements. Besides supporting Grassley’s position, the AICPA letter also noted that “deterrence from and the eventual eradication of abusive transactions are best accomplished through disclosure, higher nondisclosure penalties, clearer standards for reasonable cause penalty relief and opinion letters, aggressive enforcement and continued evolution of appropriate solutions by an informed judiciary” ( ).


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.