Nichols’ Tax Update Podcast: Issue 21-34 Aunt Entitled to Child Tax Credits, Dependency Deductions The Tax Court, in a summary opinion, held that an individual is entitled to dependency [...]
The SCACPA leadership convened last week to discuss how the Association should continue to promote and protect the CPA profession in [...]
The AICPA is in the process of updating the CPA exam and is looking for CPAs to give them feedback as to whether their plan meets the needs of [...]
Did you have someone help guide your professional development? An experienced advisor can change a career, and a life, with their insight. SCACPA is seeking mentors to help guide [...]
To enhance our grassroots Advocacy effectiveness, we are building a community of members to develop and maintain relationships with South Carolina legislators. One of the major benefits of SCACPA [...]
Nichols’ Tax Update Podcast: Issue 21-33 IRS Offers Safe Harbor for Employers Using Retention Credit New IRS guidance will allow employers to exclude some items from their gross receipts to [...]
The AICPA has provided a Fraud Risk Framework document to help CPAs and their clients visual the types of fraud in 3 major sectors. The one pagers help put [...]
The AICPA Auditing Standards Board has proposed the most significant changes regarding quality management since 2006 with three new interrelated quality management standards which will impact CPA firms at both [...]
Nichols’ Tax Update Podcast- Issue 21-32 IRS Urges EIN Holders to Update Responsible Party Information The IRS, citing security issues, has urged (IR-2021-161) entities with employer identification numbers to [...]
This week on Accountable: Hiring During the Great Resignation, with TalentSource360 Managing Partner Corey Edmonds. In addition to being a SCACPA advisor on B&I topics, David Peters is an [...]
The AICPA has issued a TQA addressing questions about how for profit and nonprofit entities account for the new restaurant revitalization and shuttered venue grants that have been received [...]
Single Audit Considerations Melisa Galasso In response to the devastating effect of the global pandemic on the US economy, Congress passed several laws (the CARES Act, CAA and ARPA) [...]
Nichols’ Tax Update Podcast- Issue 21-31 Retiree Must Pay Taxes on Garnished Income The Tax Court sided with the IRS in finding that the state debt repayment deductions from [...]
Governmental Accounting Standards Board (GASB) issued a REVISED exposure draft regarding Notes to the Financial Statements. This is in preparation for a Concept Statement that helps determine what is [...]
CPA EVOLUTION UPDATE: WHAT IS THE IMPACT ON YOU? This week SCACPA leadership attended a meeting of the South Carolina Board of Accountancy Education Subcommittee. In addition to SCACPA [...]
Nichols Tax Update: Issue 21-30 Trending in this edition: IRS Launches New Tax Pro Account Feature The IRS has announced (IR-2021-154) the launch of its new Tax Pro Account, [...]