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Based on the AICPA Competency Framework: Tax and Personal Financial Planning, these learning resources - primarily focused on US tax - are designed to help CPAs understand the knowledge and skills necessary to address the needs of their clients and firms.
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U.S. tax and FASB’s new paradigm for revenue recognition
This sweeping new standard for revenue recognition has many important tax considerations. This article explains those considerations.
Article Revenue recognition Intermediate
Accounting period planning may provide preferred year
This item highlights the accounting period rules and the guidance for changing an accounting period for the most common types of entities.
Article Period selection Intermediate
Closed years are fair game in exam of NOL carryovers
This article discusses how audits of net operating losses and other carryforwards can reach back past the otherwise applicable statute of limitation.
Article Examinations & audits Intermediate
The canned software conundrum: Inconsistent state corporate income tax treatment
This item discusses the interplay between Public Law 86-272 and the federal treatment of computer software. treatment of computer software, as well as two states’...
Article Allocation & apportionment Intermediate
Dealing with state tax issues? It comes down to domicile
This article discusses the concept of domicile which can protect taxpayers who have residences in more than one state.
Article Domicile Foundational
Valuation of family-owned entities for estate and gift tax purposes under Sec. 2704
This article discusses the rules governing the effects of lapses and restrictions on voting or liquidation rights of owners on the valuation of family-held entities.
Article Tax valuation Intermediate
Tax principles for the digital age
This article discusses Tax Policy Concept Statement No. 1, Guiding Principles of Good Tax Policy: A Framework for Evaluating Tax Proposals (TPCS-1) which is intended...
Article Practice management & professional standards Foundational
Sale of a residence in a QPRT
This item explores what happens if the residence is sold during the QPRT term.
Article Gift tax Foundational
Canceled debt is partially excludable
This article provides insight on why a married couple's interest in their retirement plan was not considered an asset for purposes of the COD insolvency test.
Article Individual income taxation Foundational
Tax Court upholds non–safe-harbor reverselike-kind exchange
The Tax Court’s decision in Estate of Bartell alleviates uncertainty about structuring a reverse like-kind exchange intended to qualify for nonrecognition treatment.
Article Allocations of profits & losses Intermediate
Cryptocurrency and taxes
This article discusses the IRS approach to cryptocurrency.
Article IRS practice & procedure Foundational
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