Ø  Congress Passes Unemployment Bill with Tax Items (Journal of Accountancy article 11/09)

Ø  Tax Advocacy for Members

This section covers AICPA activities in Washington, D.C., regarding the latest legislative developments, tax policy efforts, and regulatory guidance. Learn More>>

Ø  The 2010 Cumulative Tax Guide provides tax preparers the most up-to-date information on tax laws, of which is readily available electronically, and includes hyperlinks that connect you directly to the cited source documents.

Ø  Economic Crisis and Recovery Center

§  Business Tax

§  Individual Tax

The AICPA Tax Center provides members guidance and tax practice tools.  PCPS works with the AICPA Tax Division to find ways to bring added value to members who provide tax services.

Consent to Use and Disclose Tax Information (Section 7216 Regulations Effective January 1, 2009)

Members who are engaged in tax return preparation and tax planning services need to become familiar Sec. 7216 Regulations and Revenue Procedure 2008-35, the authoritative guidance with respect to a preparer’s “disclosure” or “use” of tax return information. In general, a “disclosure” of tax return information involves a disclosure by the preparer of a client’s return information to a third party.  A “use” of tax return information generally involves the use of the return information by the preparer potentially for the purposes of offering non-tax services to the taxpayer.

The Specialized Community Teams (PFP, FVS, IT & PCPS) are working closely with the AICPA Tax Section to provide additional guidance to our members in response to specific questions/situations that have arisen regarding the regulation’s requirements.

Ø  The AICPA Tax Center developed a practice guide for members, which provides guidance on the new regulation as well as several examples of consent forms.

Ø  Journal of Accountancy Video (2/6) - In this video, the AICPA's Vice President-Taxation Tom Ochsenschlager provides some insight to the new regulations under Section 7216 governing disclosure of taxpayer information and obtaining taxpayers’ consent for disclosure. To view Click Here.

Ø  Web Seminar (3/11) - Section 7216 Regulations: Practical Responses to CPA Questions on Safeguarding Tax Return Information- This Web Seminar assists CPAs in their understanding of when they will need to obtain written consents from their clients in providing tax preparation, tax planning, accounting, and other traditional firm services.

·         To playback or download the recording, Click Here

·         To download the presentation slides (PDF), Click Here

Ø  Disclosure Consent Under 7216 (Journal of Accountancy article 10/09)

The tools below assist members in providing clear and useful information to clients.

Ø  American Recovery and Reinvestment Act of 2009 Client Brochures (Individual Tax Provisions Brochure & Business Tax Provisions Brochure)

PCPS Members Only

Use these brochures to provide your clients a clear overview of the key tax provisions of the new Act.  Learn More>>

Ø  CPA Client Tax Letter

Provide a quarterly tax newsletter to your clients customized with your firm name, logo and contact information.  This newsletter is comprised of the latest tax developments and tax saving tips.

Other products that may prove useful in your tax practice:

Ø  Managing Your Tax Season

This book provide tips to the tax practitioner to better serve his or her clients by using better processes and procedures in the office throughout tax season.

Ø  The Tax Adviser

Get the latest tax strategies and other valuable tax information from this monthly magazine.