This week on Accountable: Bringing Students Back to the Accounting Field, with Dr. Scott Dell, CPA In addition to being a SCACPA advisor on B&I topics, David Peters is [...]
Nichols' Tax Update, Issue 21-51 IRS Announces Standard Mileage Rates for 2022 The IRS has announced the optional standard mileage rates used in computing the deductible costs paid or [...]
The Professional Ethics Executive Committee (PEEC) of the AICPA has postponed the implementation of the Information System Services Interpretation an additional year. In addition, PEEC has also provided a new [...]
Submitted by the IRS With preparations for the next tax season starting, please note the IRS will be sending out two letters to taxpayers in January: Letter 6419 - [...]
Submitted by Lynn Nichols, CPA The tax return filing season is set to begin in two weeks, but Treasury and the IRS are under no illusions that it’s going [...]
Nichols' Tax Update, Issue 21-50 Fact Sheet Updates FAQs on Recovery Rebate Credit The IRS has issued a fact sheet (FS-2021-17) updating its list of frequently asked questions on [...]
Happy New Year! Let's wrap up 2021 with a review of all things accounting and auditing! 2021 saw a flurry of activity from the AICPA, FASB and GASB. We'll [...]
Nichols' Tax Update, Issue 21-49 IRS Advises on Calculating Imputed Underpayments of Partnerships In emailed advice, the IRS advised on whether adjustments to partnership-related items are included in the [...]
Earlier this week, the SC Department of Revenue approved and issued Information Letter 21-31: Extended Tax Relief – Nexus and Income Tax Withholding Requirements for Employers with Workers Temporarily [...]
It is SCACPA’s goal to provide outstanding service and content to support your professional growth. We wanted to offer clarification regarding some information that was provided during the Scholarship [...]
IRS Will Not Acquiesce in Mayo ClinicHolding on UBIT In an action on decision (AOD 2021-04, 2021-47 IRB 725), the IRS has announced that it will not acquiesce in an [...]
FASB announced its updated research agenda based off of initial discussions of the earlier 2021 Invitation to Comment. The ITC was an agenda consultation project to hear from stakeholders [...]
SEE WHAT’S HAPPENING IN YOUR ASSOCIATION: EXPLORE SCACPA CONNECT As year-end and tax season approach, dial into the number one online resource for finding answers and building community [...]
FASB has issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance. This much awaited ASU addresses disclosures for profit entities about the types of government [...]
FASB issued ASU 2021-09, Discount Rate for Lessees That Are Not Public Business Entities. The much-anticipated changes to permit the use of the private company alternative without having to [...]
Updates Near for Fixing Obsolete Professional Conduct Rules Treasury is reviewing draft revisions to Circular 230 that are said to provide changes for unenforceable provisions and clarify sections that [...]
The AICPA's Professional Ethics Executive Committee (PEEC) has issued a Temporary Policy Statement Related to the Uniformed Services Employment and Reemployment Rights Act(USERRA) and parallel state statutes. They are [...]
Margaret Krajcer, JD, is vice president and general counsel of Tax Credits Group, a Cleveland-based firm specializing in federal and state R&D tax credits and the Employee Retention Credit. [...]
This week on Accountable: How CPAs Can Avoid Burnout, with Frank Castillo, CPA In addition to being a SCACPA advisor on B&I topics, David Peters is an acclaimed and [...]
The FASB has issued an exposure draft as part of its Disclosure Framework project to update the disclosure requirements for interim reporting. The proposal follows ASU 2018-13 and 2018-14 [...]
Submitted by Margaret Krajcer, JD, vice president and general counsel of Tax Credits Group. TCG is a Cleveland-based firm specializing in federal and state R&D tax credits and the [...]
The AICPA has issued a Technical Q&A to address questions surrounding reporting on the SEFA when the amount reported does not tie back to the financial statements due to [...]
Did you know that the SCDOR's MyDORWAY site has a way for you to access your clients' accounts for business personal property, manufacturing property, and utility property taxes. There [...]
The SCACPA Tax Team has openings for CPAs to assist with research, write and edit educational material, and speak on focused topics. If you (or someone in your organization) [...]
Practitioners See Need for Guidance on Controlled Group Rules Provisions of the controlled group rules have been working their way beyond qualified plans, making the code section ripe for [...]
The AICPA's Auditing Standards Board (ASB) is interested in hearing from auditors who perform audits of less complex entities (LCEs). They want to know your thoughts on what the ASB [...]
Today, CPA firms cannot avoid investments in technology to succeed in today’s marketplace—no matter how large or small the firm. SCACPA aims to provide CPAs with solutions and is excited [...]
This week on Accountable: How You Can Start-Up Your Start-Up, with Advance CPE CEO John Larkin In addition to being a SCACPA advisor on B&I topics, David Peters is [...]
Nichol's Tax Update, Issue 21-44 IRS Cracking Down on Crypto Noncompliance The IRS is going full steam ahead on addressing noncompliance related to cryptocurrency, and tax professionals may need [...]
The AICPA's Accounting & Review Services Committee (ARSC) has issued an exposure draft titled Quality Management for an Engagement Performed In Accordance with SSARS. As the AICPA has already [...]