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The Latest From Our Publications

Read the October 2016 Issue on

Our focus this month is on taxes, and our features and departments cover a wide array of unique and unusual circumstances. Going beyond the bread-and-butter issues, tax advisors can sharpen their knowledge of these issues, which can be invaluable to taxpayers who find themselves in just such a scenario.

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  • Two Mistakes to Avoid When Following Up
    Aug 19, 2016
    If you’re a networking pro, you know the importance of having a network of professionals you can reach out to, and how beneficial it can be to have a network that’s constantly growing. Of course, adding people to your contacts list isn’t enough – you have to follow up with them, stay in contact so that they remember you exist. If you’re comfortable with doing that, that’s great! But sometimes the way you follow up can backfire on you. The Daily Muse offers a couple mistakes to avoid the next time you send out a friendly “staying in touch” type email: 
  • Three Things to Consider Before Accepting a Friend Request from a Coworker
    Aug 16, 2016
    Becoming friends with your coworkers can have numerous positive effects, including more successful teams and an improved office culture. Grabbing the occasional happy hour after work with coworkers can also add positivity to your work. Still, while there are a number of benefits to cultivating friendships with your coworkers, there are a few things you should consider before accepting a friend request from a coworker. Here they are, from Forbes:
  • Four Reasons You Should Consider Declining a Job Offer
    Aug 12, 2016
    Especially if you’ve been job hunting for a while, it can be easy to rationalize taking a position that you might not be 100% happy with. But unless you’re really desperate and need to pay the bills, taking a job that isn’t a good fit for you might be the worst decision you could make. Here are five reasons from Time that you might want to reconsider accepting that job offer:
  • Panel: International Trade Fertile Ground For Money Laundering
    Oct 27, 2016
    Money laundering is a serious crime, so of course neither you nor your clients engage in it. But panelists at the FAE's Anti-Money Laundering Conference on Oct. 27 said that even if you don't plan to launder money anytime soon, you and your clients must still be vigilant against being used as an unwitting vehicle for money launderers. 
  • PCAOB Member Worried About Eroding Auditor Independence
    Oct 27, 2016
    Steven B. Harris, a member of the Public Company Accounting Oversight Board (PCAOB) who spoke at the FAE's SEC Conference on Oct. 27, expressed concern that auditor independence is threatened by firms' increasing reliance on consulting services over auditing for its revenue. 
  • Panel: Blockchain Tech Undergirding Bitcoin Holds Great Promise, But Regulators Face Challenges
    Oct 27, 2016
    Speakers at the FAE's Anti-Money Laundering Conference on Oct. 27 said that blockchain, the technology that drives Bitcoin and other virtual currencies, holds great potential for virtually all industries. But with this potential comes new risks that challenge regulators faced with navigating new territory opened up by this technology. 
  • PwC Survey Finds Companies Still Struggling to Implement Revenue Recognition Standard
    Oct 26, 2016
    Despite the fact that it goes into effect next year, a recent survey of 700 corporate executives by PricewaterhouseCoopers has found that many companies are still dragging their feet on implementing the FASB's new revenue recognition standards, with 8 percent having done nothing at all so far. 
  • TARP Watchdog Calls For Bank CEOs To Certify Fraud Not Happening At Company
    Oct 26, 2016
    Christy Goldsmith Romero, the special inspector general of the Troubled Asset Relief Program, has called for Congress to pass a law that would require bank CEOs to certify that no criminal or civil fraud has occurred during their tenure, with the added mandate to renew this certification each year. 
  • A Brief Update on Filing Requirements for U.S. Citizens Living Abroad and Resident Aliens in the United States
    Oct 1, 2016

    Who has to file Form 1040NR? Form 1040NR may need to be filed if a specified individual is a nonresident alien engaged in a trade or business in the United States, represented a deceased person who would have had to file Form 1040NR, or represented an estate or trust that had to file Form 1040NR. See the form’s instructions for more information.

  • 2016 New York Tax Update: Highlights and Lowlights
    Oct 1, 2016

    This article covers recent updates and developments in the New York State and City tax areas.

  • Proposed Regulations Under IRC Section 2704
    Oct 1, 2016

    On Aug. 2, 2016, the U.S. Department of the Treasury and the IRS issued proposed regulations under IRC Section 2704 (the “Proposed Regulations”) that, if enacted in its present form, might significantly curtail the ability of taxpayers to claim valuation discounts for both lack of control and lack of marketability in family-controlled entities. 

  • Why the Estate Tax Should Concern Us All
    Oct 1, 2016

    During the week of Aug. 7, presidential candidates Hillary Clinton and Donald Trump revealed their respective tax policies in major speeches to partisan audiences. While the presentations contained such jargon as marginal rates, inversions, and expenditures, the programs can be summarized as follows: Corporate America—along with the wealthy—will bear the brunt of Mrs. Clinton’s progressive agenda in the form of higher taxes, while these two groups would see their taxes reduced under a Trump regime. This is the choice Americans face in November.

Carry It Forward

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