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As a tax practitioner, you may have contemplated adding personal financial planning services to your practice. There is a natural progression to go from being your client's most trusted tax advisor to also being their most trusted personal financial advisor. But you have questions: will it be profitable? How do I get started? What are other CPA firms doing? All of these questions are addressed in a new research study published by the AICPA's PFP Section that can show you how to expand your services into this lucrative niche area that is a great compliment to your tax practice.

The Personal Financial Planning Section of AICPA and Moss Adams LLP are pleased to announce the results of their first joint study of CPA financial planning and advisory practices- AICPA/Moss Adams CPA Financial Planning Practice Study.

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Tax Home > Resources > Tax Advocacy for Members > IRS Regulation and Administration > Tax Compliance Revenue Proposals in the FY2008 Budget
Tax Compliance Revenue Proposals in the FY2008 Budget

The Honorable Eric Solomon

Assistant Secretary (Tax Policy)

Department of the Treasury

1500 Pennsylvania Avenue, NW

Room 3120

Washington, D.C. 20220

 

RE:     Tax Compliance Revenue Proposals in the Fiscal Year 2008 Budget

 

Dear Assistant Secretary Solomon:

 

The American Institute of Certified Public Accountants is pleased to comment on a number of tax compliance revenue proposals as detailed in the February 2007 General Explanations of the Administration’s Fiscal Year 2008 Revenue Proposals. Our comments involve: (1) information reporting on payments to corporations; (2) basis reporting on security sales; (3) expansion of broker information reporting; (4) information reporting on merchant payment card reimbursements; and (5) making the repeated willful failure to file a tax return a felony.

 

The AICPA is the national professional association of CPAs, with approximately 330,000 members, including CPAs in business and industry, public practice, government, and education; student affiliates; and international associates. Our members advise on federal, state, and international tax matters and prepare income and other tax returns for millions of taxpayers. They provide services to individuals, not-for-profit organizations, and small to medium-sized businesses, as well as America’s largest businesses. It is from this broad perspective that we offer our thoughts today.

 

The AICPA appreciates the opportunity to comment on these tax administration initiatives. We would be pleased to discuss the content of these comments with you or your staff at any time. If you have any questions, please contact me at jeffrey.hoops@ey.com; James E. Brennan, Chair of the AICPA IRS Practice and Procedures Committee, at james.brennan@ey.com; or Benson S. Goldstein, AICPA Technical Manager, at bgoldstein@aicpa.org.

 

Sincerely,

 

Jeffrey R. Hoops

Chair, AICPA Tax Executive Committee

 

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