The end of the year is upon us. While the hustle and bustle of the holidays and winter hibernation sets in, April Walker, CPA, CGMA, Lead Manager — Tax Practice & Ethics, AICPA & CIMA, fills you in on some quick updates about a few trending tax topics to keep you in the know, including Schedules K-2 and K-3, Form 1099-K, Payment Card and Third-Party Network Transactions and tax legislation developments What you’ll learn in this episode Second draft of Form 1065 Schedules K-2 and K-3 instructions revise domestic filing exception (0.34) Continued concerns regarding the revised reporting threshold for Form 1099-K (6.13) Year-end legislation, including the potential for tax extenders (8.31)  Related resources AICPA Comments on Form 1099-K Reporting Threshold — The AICPA has deep concerns regarding the Form 1099-K reporting threshold that was lowered to $600 for 2022 and will lead to significant confusion in the tax system in the next several months. Form 1099-K — New lowered threshold for 2022 — New reporting requirements for Form 1099-K are effective for tax years beginning in 2022. Access information and tools to help you with the changes. IRS Schedules K-2 and K-3 guidance and resources — Access resources to advise clients on IRS Schedules K-2 and K-3, which are used to report items of international tax relevance from the operations of passthrough entities. JCX-1-22 (January 13, 2022) — The staff of the Joint Committee on Taxation has prepared a list of Federal tax provisions that expired in 2021 or are scheduled to expire in the future. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already a member, consider joining this prestigious community of your tax peers. You’ll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

An engagement letter is an important written agreement that describes the business relationship and the types of services agreed upon by a client and a professional firm. The letter details the scope of the agreement, terms and costs and sets expectations for both sides of the arrangement. In this Tax Section Odyssey episode, April Walker, CPA, CGMA, Lead Manager — Tax Practice & Ethics, Association of International Certified Professional Accountants, representing AICPA & CIMA, chats with Deb Rood, CPA, MST, Risk Control Consulting Director — CNA, about the importance of engagement letters and determines why a well-drafted engagement letter can help prevent a misunderstanding with a client from turning into an expensive liability claim. What you’ll learn in this episode The necessity of engagement letters (0.57) Liability claims and engagement letters — the statistics (2.24) Specific understandings and agreements that should be included in an engagement letter (5.35) Timing and fee topics in engagement letters (7.32) Electronic engagement letters (10.44) Tips for those getting started on using engagement letters or for those that want to improve their processes (11.30) Resources, including those related to client terminations (13.44) A page from Deb’s travel journal (16.45)  AICPA resources 2022 engagement letters — The 2022 engagement letters are available for Tax Section members to download. These resources are part of the Annual Tax Compliance Kit — a library of engagement letters, client organizers, tax return checklists and practice guides to help you get ready for the next tax season. AICPA Member Insurance Program education and resources — Brought to you by AON, on this hub you can find articles, tips, calculators, checklists, webinars, letter samples and downloadable materials. Advice for when it's time to say goodbye (to clients) — On this Tax Section Odyssey episode, professionals discuss how ending a client relationship is a weighty decision for any CPA. Whatever the reasons are for the termination, disengage cleanly and timely. Rogue behavior: Risks your CPA firm should avoid — Deb Rood shares claim experience of the AICPA Professional Liability Insurance Program that demonstrates that rogue behavior, especially at the partner level, can lead to professional liability claims. Use of e-signatures for engagement documentation — The question of whether a client's electronic signature on engagement letters, management representation letters and other documents is acceptable is examined.  Surviving tax season: Checklists to manage your risk — Access these interactive checklists to help you navigate tax season and manage your professional liability risk. Client Evaluation Tool — Use this tool to identify your firm’s better clients who deserve more of your time and attention. Client Termination Practitioner Checklist and Notification Letter — Terminate a client relationship by following these helpful practice management reminders and then formally communicate the termination to your client. Practice Management & Professional Standards — Browse tax practice management resources and guidance to help keep your firm performing at the optimal level. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already a member, consider joining this prestigious community of your tax peers. You’ll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

Knowing the right time to end a client relationship can be tricky. No matter the reason for termination, managing the practical components plus the human emotions can be difficult. In this Tax Section Odyssey episode, April Walker, CPA, CGMA, Lead Manager — Tax Practice & Ethics, Association of International Certified Professional Accountants, representing AICPA & CIMA, chats with Daniel Moore, CPA, Owner — D.T. Moore & Company, LLC, and Brandon LaGarde, CPA, JD, LLM, Director — Postlethwaite & Nettervile, about their perspectives on when and how to terminate a client relationship for a successful outcome for both parties. What you’ll learn in this episode The first steps in this process (1.22) Tips and tools for ranking client relationships (3.40) Client Evaluation Tool from the Private Company Practice Section (PCPS) (5.46) Example of “buckets” of client relationship types (7.00) The next steps after the client evaluation process (13.16) Client termination letters (15.09) Should you explain the why to your clients? (18.23) Thoughts on referrals (20.45) Considerations from a firm administration standpoint (23.53) Final thoughts (27.22) A page from the guests’ travel journals (29.33)  AICPA resources Client Evaluation Tool — Use this tool to identify your firm’s better clients who deserve more of your time and attention. Client Termination Practitioner Checklist and Notification Letter — Terminate a client relationship by following these helpful practice management reminders and then formally communicate the termination to your client. Practice Management & Professional Standards — Browse tax practice management resources and guidance to help keep your firm performing at the optimal level. Reimagining Your Tax Practice Q&A roundtable sessions — Tackle today’s top practice management issues with a free interactive virtual Q&A roundtable series. Get innovative advice from our panel of experts on running an efficient, agile and profitable practice. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already a member, consider joining this prestigious community of your tax peers. You’ll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

Managing a future-forward tax practice that is efficient, profitable and agile can be overwhelming. Meeting client expectations, streamlining workflows and handling staffing challenges are just some top-of-mind concerns. One resonating topic throughout this year, is also the debate regarding shifting the tax filing deadlines. Will they remain what they currently are or is there an appetite for change? The AICPA Tax Practice Resilience Task Force, composed of a diverse group of tax professionals, are tackling these issues. In this Tax Section Odyssey episode, April Walker, CPA, CGMA, Lead Manager — Tax Practice & Ethics, Association of International Certified Professional Accountants, representing AICPA & CIMA, chats with three members of the task force: Chris Wittich, MBT, CPA, Partner — Boyum Barenscheer, Kelly Rohrs, CPA, P.C., Owner — Kelly A. Rohrs, CPA, and Chet Buchman CPA, CVA, CEPA, CGMA, CNC, Managing Partner — Swindoll, Janzen, Hawk & Lloyd, LLC, to discuss the genesis of the group, topics of discussion amongst the members and future endeavors. What you’ll learn in this episode Mission of the task force (1.00) Top practice management pain points (2.20) Tax filing deadlines (5.37) Task force members’ viewpoint on changing tax filing deadlines (9.33) What changing tax filing deadlines entails (12.06) Conclusion regarding advocating for tax filing deadline changes (16.24) Potential alternative fixes that could make a difference (18.57) Future ventures of the task force (24.41) Upcoming Zoom roundtable sessions (31.12) Closing thoughts (32.12)  AICPA resources Practice Management & Professional Standards — Browse tax practice management resources and guidance to help keep your firm performing at the optimal level. Reimagining Your Tax Practice Q&A roundtable sessions — Tackle today’s top practice management issues with a free interactive virtual Q&A roundtable series. Get innovative advice from our panel of experts on running an efficient, agile and profitable practice. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already a member, consider joining this prestigious community of your tax peers. You’ll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

Statements on Standards for Tax Services (SSTSs) are the foundation for validating reputational integrity in the tax profession. The SSTSs are the enforceable tax practice standards for members of the AICPA. To keep pace with the evolving tax profession, the updates to the AICPA’s SSTSs will guide tax practitioners into the future, help them enhance their services and maintain their professional edge. On this Global Ethics Day, in collaboration with the Journal of Accountancy podcast, April Walker, CPA, CGMA, Lead Manager — Tax Practice & Ethics, Association of International Certified Professional Accountants, representing AICPA & CIMA, is joined by David Holets, CPA, Partner – Crowe LLP, and Henry Grzes, CPA, Lead Manager — Tax Practice & Ethics, Association of International Certified Professional Accountants, representing AICPA & CIMA, to discuss the proposed revisions to the standards. Tune in to this special episode to learn more about the goals and timeline for these revisions and how you can provide your input. What you’ll learn in this episode What are the SSTSs are and why are they being revised now? (0.54) What are the proposed changes? (2.36) Other subjects considered but not included in the revisions (6.13) SSTSs resources available (8.05) How to submit comments to the proposed revisions by the due date (9.35) Invitation to comment (ITC) (10.50) Discussion about quality management (13.19) Project timeline (15.25) Closing thoughts (17.37)  AICPA resources Statement on Standards for Tax Services (SSTSs)— Examine the toolkit for the enforceable tax practice standards for members of the AICPA. Proposed revisions to the AICPA tax standards (SSTS)— Access a resource hub that provides the objective of the SSTS updates, project timeline and answers to frequently asked questions (FAQs). Please complete the Comments Form or email feedback to SSTScomments@aicpa-cima.com by Dec. 31, 2022. Comments will be available for viewing on the AICPA’s website at the conclusion of the comment period. Circular No. 230 guidance — Title 31 United State Code section 330 was first published as the Horse Act of 1884 which granted the Secretary of the Treasury the authority to regulate agents representing claimants before the Treasury Department. Guidance was provided to these agents by the Treasury in the form of circulars. Professional responsibilities in data security for tax professionals — Safeguarding your client’s data is paramount. Use these laws and guidelines to help you help your clients. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already a member, consider joining this prestigious community of your tax peers. You’ll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

Securing data against bad actors is crucial to the long-term success of a business. The average cost of a data breach in the U.S. in 2022 was over $9 million. With proper planning the risk can be mitigated, and even if an incident occurs, the cost and the time to recover can be significantly reduced. In this Tax Section Odyssey episode, April Walker, CPA, CGMA, Lead Manager — Tax Practice & Ethics, Association of International Certified Professional Accountants, representing AICPA & CIMA, speaks with Ashley Grover, Cybersecurity Threat Intelligence Analyst — Sylint, on the latest trends in cybersecurity and how businesses can better protect themselves. What you’ll learn in this episode Ashley’s role as a cyber threat analyst (0.33) Why businesses should take cyber threats seriously (2.20) Coordination with information technology (IT) department/providers (4.47) Safeguards rule contained in the Gramm-Leach-Bliley Act (7.53) Actions for an IT department to safeguard data (8.32) Current cyber threat trends and infiltration techniques (11.42) Specific recommendations for tax professionals (17.58) Remediation tips should a cybersecurity incident occur (19.38) What a cyber incident response would entail (21.20) Final thoughts (23.44) A page from Ashley’s travel journal (26.30)  AICPA resources Gramm-Leach-Bliley Information Security Plan Template — Tax preparers must implement security plans to protect client data. Failure to do so may result in an FTC investigation. Download and customize this template to document your firm’s policies. Professional responsibilities in data security for tax professionals — Safeguarding your client’s data is paramount. Use these laws and guidelines to help you help your clients. Tax Identity Theft Toolkit — CPA tax practitioners need to combat tax-related identity theft daily as it has become pervasive globally. Use this toolkit to tackle tax identity theft issues with your clients. Other resources Cybersecurity and Infrastructure Security Agency (CISA) — CISA works with partners to defend against today’s threats and collaborates to build a more secure and resilient infrastructure for the future. National Institute of Standards and Technology (NIST) Cybersecurity Framework — A set of industry standards and best practices developed by NIST to help organizations manage cybersecurity risks. Center for Internet Security (CIS) Controls Framework — A prioritized set of actions to protect an organization and data from cyber-attack vectors. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already a member, consider joining this prestigious community of your tax peers. You’ll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

The employee retention credit (ERC) has been an important lifeline to many struggling businesses impacted by the economic uncertainty around the COVID-19 pandemic. The ERC has helped support many businesses through the onset of the COVID-19 pandemic and taxpayers, many with the help of their CPA practitioners, have faithfully filed for refund claims. However, some taxpayers have been approached by firms or consultants who may promote an overly aggressive narrative with the promise that any and every business can qualify for the ERC. Taxpayers should be wary of such aggressive claims and be conscientious of how to mitigate risks when applying for the ERC. In this Tax Section Odyssey episode, April Walker, CPA, CGMA, Lead Manager — Tax Practice & Ethics, Association of International Certified Professional Accountants, representing AICPA & CIMA, welcomes back Kristin Esposito, CPA, MST, Director — Tax Policy & Advocacy, Association of International Certified Professional Accountants, representing AICPA & CIMA, to discuss this top-of-mind topic. What you’ll learn in this episode The current environment (1.27) Concerns with overly aggressive firms or consultants (2.48) Steps for taxpayers who have fallen victim (3.51) IRS guidance available and on the horizon around this topic (7.35) Impact on those who have filed legitimate claims (9.02) The latest in processing times for filed Form 941-X, Adjusted Employer's Quarterly Federal Tax Return or Claim for Refund, and the coordination with examination activities (10.19) AICPA advocacy efforts around ERC (12.20) A page from Kristin’s travel journal (15.29)  AICPA resources Employee retention credit guidance and resources — The rules to be eligible to take this refundable payroll tax credit are complex. This resource library will help you understand both the retroactive 2020 credit and the 2021 credit. Mythbust and maximize the employee retention credit | Tax Section Odyssey — Helping eligible clients successfully apply for and receive the ERC is a once-in-a-lifetime opportunity for CPAs according to Chris Wittich, MBT, CPA. ERC — What we know now | Tax Section Odyssey — Kristin Esposito, CPA, MST, addresses the much-anticipated employee retention credit (ERC) guidance released in August 2021 that answered many outstanding questions. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already a member, consider joining this prestigious community of your tax peers. You’ll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

The Inflation Reduction Act of 2022 increases the IRS budget by roughly $80 billion over 10 years. The funds are broken down into four main categories: taxpayer services, business system modernization, operations support and enforcement. On this Tax Section Odyssey episode, April Walker, CPA, CGMA, Lead Manager — AICPA Tax Section, talks with Gloria Sullivan, Managing Director, Tax Controversy & Regulatory Services — PwC, who spent 37 years with the IRS Large Business & International (LB&I) division. Gloria provides her insights on differentiating between the funding categories and understanding the ins and outs of the IRS from a personnel, budgetary and personal perspective. What you’ll learn in this episode Introspection at the IRS — How it’s changed over the years and the current environment (1.20) IRS funding provisions set forth in the Inflation Reduction Act of 2022 (8.48) Deeper dive and insider look at the funding provisions (14.44) Insights regarding the IRS backlog (18.42) Can the IRS move funds from one category to another (22.21) Enforcement insights on a comparison of statutes and the U.S. Treasury Secretary Janet Yellen’s letter to Commissioner Rettig (25.03) A page from Gloria’s travel journal (32.49)  AICPA resources Inside look at the Inflation Reduction Act | Tax Section Odyssey — The Inflation Reduction Act, H.R. 5376, now law, includes a 15% corporate minimum tax, various energy credits and increased IRS funding. Breakdown of the Inflation Reduction Act of 2022 — The Inflation Reduction Act of 2022 contains several provisions that could affect your tax clients. Learn what's changed so you can adapt in this webcast. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already a member, consider joining this prestigious community of your tax peers. You’ll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

President Biden signed the Inflation Reduction Act, H.R. 5376, into law on Aug. 16, 2022. Tax professionals must now undertake the task of quickly understanding the tax provisions, including the new corporate minimum tax, based on financial statement, or "book," income and various energy credits, which include several new credits for clean energy and fuels and clean vehicles and other transportation. The bill also extends several temporary existing credits. On this Tax Section Odyssey episode, April Walker, CPA, CGMA, Lead Manager — AICPA Tax Section, and Kasey Pittman, CPA, Senior Manager, Washington National Tax — Baker Tilly US, dissect the tax stipulations in the new tax and climate legislation. What you’ll learn in this episode What’s in the Inflation Reduction Act, H.R. 5376 (1.35) 15% minimum tax for large corporations (5.07) 1% excise tax on corporate stock buybacks (11.12) Extension of the Sec. 461(l) business loss limitation (13.24) Clean energy measures (17.22) IRS funding provisions (24.14) A page from Kasey’s travel journal (28.33)  AICPA resources AICPA comments on tax provisions in Senate reconciliation legislation released on July 27, 2022 — On Aug. 4, 2022, the AICPA submitted comments regarding important profession and tax policy issues that are in the Senate reconciliation legislation released on July 27, 2022. AICPA comments on the corporate profits minimum tax in reconciliation legislation being considered — On June 21, 2022, the AICPA recommended that Congress reconsider and clarify the rules associated with the proposal regarding implementing a minimum tax on corporate adjusted financial statement income due to complexity and because it may have many significant and potentially negative implications. The AICPA previously submitted a letter on Oct. 28, 2021. AICPA request for additional guidance and relief regarding Sec. 461(l) – limitations on excess business losses of noncorporate taxpayers — On June 22, 2020, the AICPA submitted a comment letter requesting for additional guidance and relief regarding Sec. 461(l). The recommendations address treatment of previously reported excess business losses and relief for underpayment of estimated taxes. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already a member, consider joining this prestigious community of your tax peers. You’ll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

The tax ecosystem is in constant flux given the rotating release of legislation and regulations and reliance upon open communication with, and accessibility to, the IRS.   On this Tax Section Odyssey episode, April Walker, CPA, CGMA, Lead Manager – AICPA Tax Section, and Lauren Pfingstag, Director of AICPA Congressional & Political Affairs, review frequently asked questions (FAQs) that the AIPA Tax Section receives from members on topics such as the employee retention credit (ERC), tax-related legislation and IRS service levels. What you’ll learn in this episode ERC-related topics (1.11) Potential credit reinstatement possibilities for Q4 2021 (1.22) Aggressive ERC services by third parties (3.08) Timing, salaries and the ERC (5.20) Other potential legislative action possibilities (6.59) Timing of ERC refunds (8.00) Tax-related legislation on the horizon (9.43) Tax-related legislative packages most likely to pass (10.12) LIFO relief for certain industries (14.15) IRS-related topics (15.53) Erin Collins’s 2023 Objectives Report to Congress (16.05) Additional IRS funding (16.52) Notices (18.56) Proposed regulations related to RMDs (21.52) A page from Lauren’s travel journal (26.43) AICPA resources Mythbust and maximize the employee retention credit— Helping eligible clients successfully apply for and receive the ERC is a once-in-a-lifetime opportunity for CPAs according to Chris Wittich, MBT, CPA. 2023 Objectives Report to Congress — National Taxpayer Advocate Erin Collins's annual midyear report for fiscal 2023 was released in June. The report reviewed the IRS's performance in the 2022 tax filing season, outlined 14 "systemic advocacy objectives" going forwards and lists internal goals and objectives for the Taxpayer Advocate Service (TAS). Relief for Taxpayers for the 2022 Filing Season (Coalition letter) — The coronavirus pandemic has created enormous challenges for taxpayers, tax professionals and the IRS. Implementing reasonable penalty relief measures, that the IRS can offer immediately, are necessary to help not only taxpayers and tax professionals but also the IRS during these challenging times. Proposed regulations update RMDs for SECURE Act changes — The Tax Adviser, Feb. 23, 2022. Other resources Where's My Refund? — IRS tool that provides refund information for the 2021, 2020 and 2019 tax years. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already a member, consider joining this prestigious community of your tax peers. You’ll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.