PICPA Boards and Blogs

By Mark J. Perechinsky and Matthew D. Melinson, CPA  At the Oct. 1, 2008, Financial Accounting Standards Board (FASB) meeting, the board modified the applicability of FASB Interpretation No. 48 (FIN 48), Accounting for Uncertainty in Income Taxes, to pass-through entities (PTEs). FASB agreed to develop application guidance for PTEs and to ...

By John J. Barton, CPA, ASA The Federal Court of Appeals, Eleventh Circuit, reversed the Tax Court’s decision regarding the Estate of Frazier Jelke III1 on Nov. 15, 2007. Business appraisers, especially those performing valuations for the purposes of estate and gift tax, will be pleased with the prospect of taking a 100 percent, ...

By Larry S. Blair, CPA, JD, and Carol G. Murray, CPA, JD Business owners often choose S corporation status to eliminate the double taxation of profits that would occur with a C corporation election. One of the basic eligibility requirements for S corporation status is that only eligible shareholders can be owners.S corporations are usually owned ...