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Taxpayers Need More Penalty Relief Says AICPA in Letter to IRS

January 29, 2019
When the Tax Cuts and Jobs Act (TCJA) was passed, it affected millions of individual taxpayers and tax preparers. As part of its implementation, the IRS adjusted its withholding tables. However, the adjusted withholding tables did not account for factors such as the elimination of personal and dependency exemptions or reduced itemized deductions. The result: many taxpayers have been unable to accurately calculate their tax liability for 2018 and may have inadvertently under-withheld their taxes. Recently, the AICPA sent a letter to the Department of Treasury and the IRS urging them to provide more extensive relief to taxpayers.

AICPA Letter to Treasury and IRS Highlights Challenges of Government Shutdown on Taxpayers and Practitioners

January 25, 2019
As this year’s tax filing season approaches, the AICPA and the Arizona Society of CPAs are receiving questions from members about the impact of the government shutdown on the IRS. Continuing the profession’s long-standing role as a resource to the IRS, the AICPA recently sent a letter to the Secretary of the Treasury and the IRS Commissioner expressing concern that the ongoing shutdown is burdening taxpayers and practitioners as they attempt to file complete and accurate tax returns. The letter identifies some of the more common challenges CPAs are already facing and offers recommendations to mitigate the long-term impact of the shutdown where appropriate.

Legislative and Accountancy Board Update – November 2018

November 20, 2018
This month’s update includes information on the results of the mid-term elections, including the ban on services taxes, conformity for 2018, a summary of the Accountancy Board meeting and a reminder that PAC contributions make sure our CPA voice is heard.

Who Uses a CPA?

November 15, 2018
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This September, the Arizona Society of CPAs commissioned a poll to study voter support for Proposition 126 (income tax conformity) and to determine who uses a CPA. Arizona voters were asked how they use a CPA and who they use to prepare their tax returns.

The Sum and Substance of a Recruiting Partnership

November 5, 2018
A regional CPA firm ranked in the Top 100 CPA firms in America, specializing in tax, auditing and accounting, and advisory services, needed an experienced recruiting partner to assist them with multiple positions throughout the Southwest. Previously they were using a contingency recruiter paying a percentage of the candidate’s salary and the costs were skyrocketing. Due to the volume of hires, they needed to find a cost-effective solution. -Sponsored Content