[Anonymous]

This is my first time taking the REG section and would like to know whether or not the 2010 rates apply on the exam.? do they only test current material or will I be required to know the past dated material as well.

thanks

[Anonymous]

I have the same questions. The becker software uses 2010 numbers, but the 2011 rules apply now since its July 2011.

[Anonymous]

I believe it says on the AICPA website that for REG tests taken in 2011, 2010 tax rates will apply.

[Anonymous]

Where on the website? Here is what i found on the AICPA website.

Source: https://www.aicpa.org/BecomeACPA/CPAExam/ForCandidates/FAQ/Pages/computer_faqs_2.aspx

Accounting and auditing pronouncements are eligible to be tested on the Uniform CPA Examination in the testing window beginning six months after a pronouncement's effective date, unless early application is permitted When early application is permitted, the new pronouncement is eligible to be tested in the window beginning six months after the issuance date. In this case, both the old and new pronouncements may be tested until the old pronouncement is superseded.

For the federal taxation area, the Internal Revenue Code and federal tax regulations in effect six months before the beginning of the current window may be tested.

For all other subjects covered in the Regulation (REG) and Business Environment and Concepts (BEC) sections, materials eligible to be tested include federal laws in the window beginning six months after their effective date, and uniform acts in the window beginning one year after their adoption by a simple majority of the jurisdictions.

[Anonymous]

I also emailed Becker. They said that 2011 numbers are in effect. Not sure what to do here…it would be a hassle to memorize both 2010 and 2011 and have both answer choices on the exam that relate to either 2010 or 2011.

[Anonymous]

Well, I've taken REG twice, once in the Jan/Feb window, and once in the July/Aug window…from my experience, its been 2010 numbers.

I could have sworn I read somewhere that its the tax rates in effect during the last full tax year….I know there is another thread on here too that discusses it…

[Anonymous]

Do they require you to memorize the rates or are most given to you in the problem. In becker it says a few times that they test mostly on the recognition and qualification but rarely the dollar amounts. Did you find this to be true?

[Anonymous]

You dont have to memorize tax tables or anything, but you do have to know things like thresholds, floors, ceiling, limitations, exemption amounts, standard deduction amounts, etc. I would also be familiar with rates like the self employment, personal holding company tax rate.

[abnason]

People worry so much about rates, thresholds, etc. when it is testing so infrequently on the exam (or mine at least). Time is better spent on other areas…

FAR - 93
REG - 93
BEC
AUD

[Author]

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