What's new with the 2012 Big Book of Taxes?

The ClientWhys technical staff maintains the Big Book of Taxes year-round, adding regulations, rulings, and court cases in preparation for the next tax season. In addition to a constant stream of changes, we expand and highlight issues of significant importance during the year, such as the following:

Tax Office Policy Manual—IRS Circular 10.36(b) requires practitioners to take reasonable steps to ensure that the firm has adequate procedures in effect for all members, associates, and employees for the purpose of complying with Circular 230. The Big Book of Taxes includes step-by-step guidance for developing your firm’s policy manual, including recommended and sample policies and office forms to support those policies. Make a tough job easy.

Expanded Foreign Reporting Issues - Extensive information-related issues dealing with and the reporting requirements for:

  • Foreign Account Reporting Requirements (FBAR)
  • Foreign Asset Reporting (Form 8938)
  • Reporting Receipt of Foreign Gifts (Form 3520)
  • Reporting Ownership or Transactions with Foreign Trusts (Form 3520)
  •  Canadian Registered Retirement Savings & Income Plans (Form 8891)
  • Annual Information Return for a Foreign Trust with a U.S. Owner (Form 3520-A)
  • Tax on Non-resident Alien Gifts of Property Situated in the U.S. (Form 709)
  •  Foreign Rental Property Foreign Pensions Non-resident Withholding Issues

New IRS Repairs and Capital Improvements Regulations—Learn how the new regulations distinguish between repairs, improvements, materials, and supplies. This information, which every practitioner must know, is effective 1/1/2013.

Impending Health Care Provisions--Expanded coverage of the new taxes being imposed by the health care law taking effect in 2013 and 2014. Learn the details of these new taxes and other related issues in order to prepare for tax planning with impacted clients, including the following:

  • Unearned Income Medicare Contribution Tax
  • Additional Hospital Insurance Tax
  • Shared Responsibility Payment (penalty for not being insured)

New Practice Potpourri Section--Highlighting current issues affecting tax preparation, including IRS procedures, conflicts of interest, disclosure compliance, and other issues that affect the everyday conduct of business.

Click below to Pre-order the Big Book of Taxes (October 2012 release). 

California Registered Tax Preparers (CTEC) Version

Enrolled Agent Version

CPA Version

Registered Tax Preparer (RTRP) version

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