Governmental

SC DOR to Offer Case-By-Case Tax Relief for Hurricane Florence

By |2018-09-19T10:20:04+00:00September 19th, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Legislative/Advocacy, Regulatory, Tax, Technology|

The South Carolina Department of Revenue announced on Tuesday that it will work on a case-by-case basis to waive any penalties assessed for taxpayers who cannot meet state filing [...]

SC DOR Issues Advisory Opinion for Remote Sellers and Sets Economic Nexus Standard of $100,000

By |2018-09-19T09:55:08+00:00September 19th, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Tax, Technology|

The SC Department of Revenue has approved and issued its Advisory Opinion, Revenue Ruling 18-14: Retailers Without a Physical Presence (“Remote Sellers”) – Economic Nexus, on Tuesday, Sept. 18. It [...]

Tax Conformity Arrangement Moves Forward from Senate Finance Subcommittee

By |2018-09-18T15:42:35+00:00September 18th, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Legislative/Advocacy, Regulatory, Tax|

The push to enact Tax Conformity in South Carolina passed a significant milestone as the Senate Finance Subcommittee on Conformity unanimously adopted an amendment to a House bill on [...]

IRS Reminder: Beware of Disaster Scammers During Florence Recovery

By |2018-09-18T11:37:08+00:00September 18th, 2018|Auditing & Accounting, Governmental, Legislative/Advocacy, Tax, Technology|

The IRS is reminding taxpayers that criminals and scammers try to take advantage of the generosity of taxpayers who want to help victims of major disasters, such as Hurricane [...]

SCACPA Urges IRS to Consider Paths for Tax Deadline Extensions for Those Under Mandatory Evacuation Orders

By |2018-09-18T12:11:01+00:00September 18th, 2018|Business & Industry, Featured, Governmental, Legislative/Advocacy, Tax|

South Carolina’s road to recovery from Hurricane and Tropical Storm Florence will be long, but SCACPA has been hard at work to secure assistance and relief for the state’s [...]

SCACPA Watches for State, Federal Responses to Tax Deadline Disaster Extension Requests

By |2018-09-13T12:15:54+00:00September 13th, 2018|Business & Industry, Featured, Governmental, Legislative/Advocacy, Regulatory, Tax|

With mandatory evacuations along the South Carolina coast underway in anticipation of Hurricane Florence, SCACPA reached out early in the week to the SC DOR and the Governor’s Office to [...]

IRS has Taxpayer Assistance Plans as Hurricane Florence Approaches

By |2018-09-13T10:29:04+00:00September 10th, 2018|Business & Industry, Governmental, Membership, Tax|

As Hurricane Florence advances, SCACPA is sharing the following preparedness advice from the IRS. In the coming days, South Carolina is projected to be affected by severe storms, flooding and [...]

Preparedness Steps in Advance Of Hurricane Florence

By |2018-09-13T10:29:55+00:00September 10th, 2018|Business & Industry, Featured, Governmental, Legislative/Advocacy, Membership, Tax|

The South Carolina Association of CPAs wants our members to be aware we are monitoring weather forecasts for Hurricane Florence and its possible effects on SCACPA functions and emergency [...]

SCACPA Presents: A Free 8-Hour Comprehensive 199A Update Course on Sept. 20

By |2018-08-23T14:52:09+00:00August 23rd, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Legislative/Advocacy, Membership, Regulatory, Tax|

COURSE TITLE: “Complete Coverage of 199A Regulations” REGISTER NOW: SMTX59 – In-Person | LITX59 – Livestream Lynn Nichols, CPA, host of SCACPA’s Federal Tax Update Podcast and presenter for [...]

Member Benefit Alert: SCACPA Partners with Surgent On-Demand Self-Study CPE

By |2018-08-21T16:21:08+00:00August 21st, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Legislative/Advocacy, Membership, Partners, Public Relations, Regulatory, Tax, Technology|

SCACPA members who know they can depend on the Association for all-around CPE excellence now have an incredible opportunity to get specialized knowledge for their precise career needs. The [...]

SCACPA Treasurer Newhouse Testifies to Senate Finance Subcommittee on Need for Tax Conformity

By |2018-08-15T19:25:42+00:00August 15th, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Legislative/Advocacy, Membership, Regulatory, Tax|

Note: Read a summary about the Senate Finance Subcommittee on Conformity’s initial Aug. 8 meeting here. The Senate Finance Subcommittee on Conformity met for the second time on Wednesday morning, [...]

S.C. Tax Team’s Lynn Nichols Examines IRS Proposed Regulations on IRC Sec. 199A (Qualified Business Income Deduction)

By |2018-08-23T14:59:06+00:00August 14th, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Legislative/Advocacy, Regulatory, Tax|

The IRS’s proposed regulations to explain and interpret Code Section 199A stemming from the Tax Cuts and Jobs Act were released on Wednesday, Aug. 8. Lynn Nichols, of the [...]

SCACPA Continues to Push for Results in Summer Conformity Talks

By |2018-08-15T19:27:57+00:00August 9th, 2018|Business & Industry, Featured, Governmental, Legislative/Advocacy, Regulatory, Tax|

Note: Read about the Aug. 15 second meeting of the Senate Finance Subcommittee on Conformity that featured testimony from SCACPA Board Member and Treasurer Ken Newhouse here. The first [...]

Member Comments Sought on Proposal for New AICPA Auditing Standard

By |2018-08-07T19:54:37+00:00August 7th, 2018|Auditing & Accounting, Governmental, Legislative/Advocacy, Membership, Regulatory|

Changes are coming for those who perform attestation engagements. A standard proposed by the AICPA Auditing Standards Board would change the terminology for what has been known as a “review [...]

Technical Corrections Would Help These 3 TCJA Provisions

By |2018-08-02T17:09:44+00:00August 2nd, 2018|Auditing & Accounting, Business & Industry, Governmental, Regulatory, Tax|

By Thomas McCormick, CPA | SCACPA Member Since 2013 As time has passed since the enactment of the 2017 Tax Cuts and Jobs Act, tax professionals have noted mistakes in [...]

CPA Profession Backs Proposed Legislation that Limits Damage Awards Against State Regulatory Boards

By |2018-07-30T17:40:24+00:00July 30th, 2018|Auditing & Accounting, Governmental, Legislative/Advocacy, Membership, Regulatory|

The American Institute of CPAs supports legislation introduced in the United States Congress that would help ensure that members of state regulatory boards are not deterred from serving because of [...]

S. C.’s Sales Tax Holiday Weekend is Fri., Aug. 3-Sun., Aug. 5

By |2018-07-30T15:20:19+00:00July 30th, 2018|Auditing & Accounting, Business & Industry, Governmental, Tax|

South Carolina’s annual Sales Tax Holiday begins at 12:01 a.m. on Friday, Aug. 3 and continues until midnight of Sunday, Aug. 5. A list of dozens of items, including back-to-school [...]

SCACPA Member Benefit Alert: Clemson Tax School Included in 40-Hour CPE Package

By |2018-07-30T08:04:17+00:00July 13th, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Membership, Partners, Regulatory, Tax|

Seats are filling fast for this fall’s 57th annual Clemson University Income Tax Course, the two-day classes offered throughout South Carolina from late October through mid-December. Seats are filling [...]

LEGISLATIVE REARVIEW: Copper Dome Strategies’ 2018 Review Includes Conformity Forecast

By |2018-07-13T13:53:06+00:00July 13th, 2018|Featured, Governmental, Legislative/Advocacy, Regulatory, Tax|

THE STATUS OF CONFORMITY: Two Conformity bills – one each from the House and Senate – may still be considered this year, as they were included in the Sine [...]

IRS, Security Summit Launch Awareness Campaign to Protect Client Data

By |2018-07-10T19:02:52+00:00July 10th, 2018|Auditing & Accounting, Business & Industry, Governmental, Regulatory, Tax, Technology|

The IRS and its Security Summit partners have initiated a summertime security awareness campaign for tax professionals with an expanded guide that provides critical steps to protect client data. "Protect [...]