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Coming soon: AICPA practice guide for fiduciary (trust) accounting.

Tax Adviser, The, September, 2006 by McNamara, Lawrence H., Jr.

The AICPA Trust Accounting Income (TAI) Task Force was established to provide guidance in performing trust and estate accountings and related tax services. The AICPA Tax Division's Trust, Estate and Gift Tax Technical Resource Panel (chaired by Ruby Sawyers in 2004-2005, and Steven Thorne in 2005-2006) appointed and provided direction and oversight to the Task Force. The tools and best practices for preparation of a fiduciary (or trust) accounting are included in a Practice Guide (Guide) to help CPAs provide better fiduciary accounting services.

The Guide was developed specifically for CPAs, but will be a useful tool for anyone with fiduciary accounting responsibilities. It will provide members with a better understanding of this continually evolving and very...

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