AICPA Suggestions to Improve Change-of-Accounting-Method Requests

On January 31, 2008, the AICPA offered suggestions to IRS for improving processing of changes in accounting methods. Learn More>>

AICPA Seeks More Guidance on Documenting Success-Based Fees

The AICPA asks the IRS to publish a Rev. Rul. or Rev. Proc. permitting documentation other than time sheets to satisfy the documentation requirements for deductibility of success-based fees. Learn More>>

AICPA Suggests Fix for Change of Accounting Method Request Backlog
In March 5, 2007, comments the AICPA suggests a two-track system to reduce the backlog in processing Forms 3115, Request for Change in Accounting Method. Learn More>>

AICPA Comments on LIFO Technical Advice Memo
Tax Accounting TRP critiques TAM 200603027(involving LIFO). Learn More>> 
 

AICPA Concerned About Capitalizing Environmental Remediation Costs January 30, 2006. The AICPA advises the IRS against capitalizing environmental remediation costs under section 263A. Learn More>>

AICPA Opposes Ban on Rolling Average Cost Method January 19, 2006. The AICPA has gone on record as opposed to a ban on the use of the rolling average cost method to calculate inventory cost in a comment letter to the IRS in response to Notice 2005-25's request for comments on the IRS and Treasury Priority Guidance Plan. Learn More>>

AICPA Comments on DMD Regs January 5, 2006. The AICPA offers comments on the Section 199 proposed regulations offering guidance on the new domestic manufacturing deduction. Learn More>>

AICPA Proposes Fiscal Year Flexibility for Emerging Small Businesses October 7, 2004. This is AICPA's statement in support of allowing small businesses the flexibility to adopt any fiscal year end from April through November for tax purposes, as proposed in the Small Business Tax Flexibility Act of 2003 (H.R. 3225) for the record of the Subcommittee's September 23, 2004, hearing. Learn More>>

AICPA Asks IRS to Clarify and Improve Intangible Asset Automatic Consent Procedures August 24, 2004. This letter provides comments regarding the requirements found in Section 4.02 of Revenue Procedure 2004–23. Learn More>>

Schedule M Gets a Face-Lift February 12, 2004. The new Schedule M–3 has four parts, with a total of almost 90 line items; whereas the old Schedule M–1 had a total of 10 line items. And that's just the beginning of the detail required by the new form because 75 of its line items are spread across four columns. Learn More>>

AICPA Comments on Eligible Property and Simplified Service Cost Method Guidance From IRS January 27, 2004. This is the response to IRS' requests for comments on SSCM (Simplified Service Cost Method) under Regs. §1.263A–1(h)(2)(i)(D) et seq. Notice 2003–36. Learn More>>

Why 'Schlude' Is a Bad Word for Tax Accountants January 8, 2004. The Schlude decision probably best illustrates the Court's disregard for GAAP. To provide relief, Treasury and IRS published Rev. Proc. 71–21. Under Rev. Proc. 71–21, accrual-method taxpayers may elect to defer recognition of prepaid income for services until the "all events" test of Regs. § 1.451–1(a) is satisfied. Learn More>>

'Look for the INDOPCO Label…' December 18, 2003. This article provides commentary on the INDOPCO proposed regulations. Learn More>>

AICPA Comments on Proposed Regs on Including Advance Payments/Rents in Income September 10, 2003. These comments discuss Proposed Regs on including Advance Payments/Rents in Income; Rev. Proc. 71–21 on Advance Payments Updated (9/10/03); Rev. Proc 2004–34. Learn More>>

AICPA Comments on INDOPCO Regs April 21, 2003. This letter provides AICPA's comments on the proposed INDOPCO regulations. Learn More>>

AICPA Asks IRS for Relief When Fiscal Year Safe Harbor Is 'Defective' December 20, 2002. This letter contains AICPA comments asking for relief from "bunching-of-income" resulting from forced conversion to calendar year. Learn More>>

AICPA Suggests Improvements to New Cash Accounting Method Notice February 28, 2002. The AICPA requests that the IRS clarify and refine Notice 2001–76, which expanded the application of the cash method of accounting to certain businesses with revenues of less than $10 million. Learn More>>