12.20.10

Tax Practice Ethics & Quality Control: The New Imperative (December 20, 2010)

Posted in Arizona Society CPAs at 1:00 am by Ed Zollars, CPA

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12.17.10

Arizona Income Taxes – Update and Overview (December 17, 2010)

Posted in Arizona Society CPAs at 5:38 am by Ed Zollars, CPA

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Arizona Accounting Ethics With Emphasis on Tax Practice Issues (December 17, 2010)

Posted in Arizona Society CPAs at 5:37 am by Ed Zollars, CPA

Some resources related to the Arizona Ethics presentation in Yuma on December 17, 2010.

• AICPA New SSTS Standards – effective January 1, 2010
• SSTS Presentation Materials – from presentation to Phoenix Tax Workshop earlier in 2010
• Statements on Standards for Valuation Services – includes interpretation 1 dealing with tax matters
• Statements on Standards for Accounting & Review Services – AICPA page related to compilation & review standards
• AICPA Code of Conduct – current version of AICPA standards
• IRS Return Preparer Compliance and Enforcement Center – IRS issues for preparers
• Kaskey case - original decision and final decision on appeal
• Haddad Motor Group – CPA liability case
• Authoritative Support Presentation audio presentation and article from my podcast site that was posted in August 2008.
• Tax Relief, Unemployment Insurance Reauthorization and Jobs Creation Act of 2010 – discussion of issues in end of 2010 tax bill.

The above are items will give you some additional information on items discussed in the course.

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12.15.10

Partnership & LLC Taxation: Advanced Issues (December 15, 2010)

Posted in Illinois at 1:00 am by Ed Zollars, CPA

Below are links mentioned in the December 15 presentation in Skokie, Illinois.

• IRS Understatement of Income Regulations – IRS goes ahead with revised §6501(e) guidance despite Tax Court holding the IRS is overstepping its authority by attempting to include overstatements of basis as understatements of income.
• Partnership – Audit Technique Guide – IRS guide last revised in August 2008
• Norwood v. Commissioner, TC Memo 2000-84
• Article on Partnerships and §6501(e) Six Year Statute – article I wrote for the Arizona Society of CPAs blog site.
• IRS FAQ on Unified Partnership Audits – Chief Counsel Notice issued August 21, 2009
• ASCPA Blog Page - various postings here on tax updates

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12.09.10

Construction Contractors: Special Tax and Accounting Considerations, December 9, 2010

Posted in Oregon Society of CPAs at 1:00 am by Ed Zollars, CPA

The following items were referenced in the Construction Contracting:  Special Accounting & Tax Considerations course given on December 9:

• Slides for Presentation – Keynote slides from presentation
• FASB Codification – current accounting standards.  Can obtain free account.  Premium accounts have additional features, but even the free account has access to the entire codification
• FASB Going Concern Project Status Page – discusses status of FASB’s continuing going concern project
• SSARS 19 Summary
• IRS Construction Industry Audit Technique Guide
• Koch Industries v. United States, CA10 No. 08-3347 – road construction contractor could not include contracted expected maintenance as part of job for percentage of completion purposes
• FSA 20102601F - 2010 IRS Field Service Advice on priority of California Stop Notice over federal tax lien for proceeds due from contractor
• CCA 201046009 – IRS explanation on due dates, collection issues and statute of limitations on claims for look back interest filings.
• Final Form 1120-UTP – Final version of Form 1120-UTP released

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12.08.10

Preparing Complex 1040s, December 8, 2010

Posted in Oregon Society of CPAs at 1:00 am by Ed Zollars, CPA

The following are links to items mentioned in the Preparing Complex 1040s course given on December 8:

• Preparer Registration Rules – summary of where things stood on December 8, 2010.
• Electronic Filing Mandate – recent IRS guidance on the mandatory efile rules for 2011
• Congressional AMT Letter – Letter signed by chairs and ranking minority members of Senate Finance Committee and House Ways & Means Committee indicating they plan to pass an AMT patch.
• IRS’s New View on Acquisition Debt – Article describing CCA 200940030 where the IRS decided you could deduct interest on $100,000 of acquisition debt in excess of $1,000,000 as home equity debt.  This view has now been formalized by the IRS in Revenue Ruling 2010-25.
• IRS AMT Assistant – IRS page to help determine if taxpayer may be subject to AMT.
• Levels of Authority – article detailing the various authority levels under the regulations
• Census Bureau NAICS website – referenced in chapter on like kind exchanges.
• Individual Tax Developments – update on recent developments I’ve written up from handling Federal Tax Update podcast.

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12.02.10

Tax Practice Update and Issues (December 2, 2010)

Posted in Oklahoma Society of CPAs at 1:30 am by Ed Zollars, CPA

Slides for the Tax Practice breakout session presented on December 2, 2010 in Oklahoma City, Oklahoma at the Oklahoma Tax Institute.

As well, the following links may be of interest on the topic:

• IRS PTIN Registration Page – Page where all preparers must register before January 1, 2011
• AICPA Current SSTS Standards – effective January 1, 2010
• AICPA Code of Conduct – current version of AICPA standards
• Statements on Standards for Valuation Services No. 1 – standard text and interpretation.  It does apply to tax practice.
• SSARS 19 - AICPA Summary and my write-up of the new standard
• Authoritative Support Presentation audio presentation and article from my podcast site that was posted in August 2008.

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C Corporations – An Updated Look (December 2, 2010)

Posted in Oklahoma Society of CPAs at 1:00 am by Ed Zollars, CPA

Presentation Slides for the general session on C Corporations presented at the Oklahoma Tax Institute on December 2, 2010 in Oklahoma City, Oklahoma.

As well, here are updated printed materials that have the corrected calculation of the example.

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12.01.10

Passthrough Entities – Advanced Issues (December 1, 2010)

Posted in Oklahoma Society of CPAs at 1:00 am by Ed Zollars, CPA

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