An appreciation for regulation

BY JAMES A. JOHNSON, CPA

After reading the item about an attempted tax-free rollover to a Roth IRA (“Tax Matters: Roth Restructure ‘Too Good to Be True,’ ” Oct. 2011, page 68), I am more understanding of the constant barrage of income tax and ethical regulations. I am hopeful that the CPA who dreamed up the scheme has been fittingly punished. I also will state the obvious: Honesty and integrity cannot be legislated.

James A. Johnson, CPA
Florence, Ala.

SPONSORED REPORT

Why cybercriminals are targeting CPAs

This free report expands on the most commonly found scams, why education and specialized IT knowledge help to lessen security vulnerabilities, and why every firm should plan carefully for how it would respond to a breach.

PODCAST

How tax reform — and Excel — are changing the CPA Exam

Mike Decker, the vice president of examinations at the AICPA, discusses changes being made to the exam as a result of tax reform — and about how Excel will now be available for use on the test.