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, [...]
As part of our effort to help bring talented candidates into the CPA profession, each year SCACPA awards dozens of scholarships totaling tens of thousands of dollars to students [...]
GASB has issued a proposed Omnibus Exposure Draft. The ED addresses implementation issues for leases, PPP and SBITA as well as targeted accounting guidance. It also addresses the delay in [...]
Nichols’ Tax Update Podcast: Issue 21-29, IRS Issues Fact Sheet on Child Care Tax Credit Advances, and much more! Bank Is Immune From Liability for Complying With IRS [...]
Have you ever wanted to influence the topics that FASB covers in its standard setting? Well, now here's your chance. Today, Financial Accounting Standards Board (FASB) issued its Invitation [...]
More than 20 South Carolina counties have adopted the standardized online filing of PT-100 with SC Department of Revenue. MyDORWAY is the SCDOR's online platform for filing PT-100s. Led [...]
EDUCATION UPDATE: YOUR VOICE MATTERS! We’ve added features to our CPE and learning tools to make it easier for you to give feedback and help us respond to your [...]
Nichols’ Tax Update: Issue 21-28 Christian Group That Battled IRS Receives Exemption After All, and much more! Temporary Regs Implement Requirements Regarding Surprise Billing Federal agencies, including Treasury, have [...]
It's time to wrap up the second quarter of 2021. The quarter was pretty slow for issuances of final standards. In this blog, we'll give an executive overview of [...]
The information below is reprinted from an announcement provided by the South Carolina Department of Employment and Workforce regarding payment of unemployment benefits to claimants. Please read this important [...]
What has 18 legs and catches flies? A baseball team! Central Chapter Family Fun Night at the Fireflies Come join your colleagues and family for a fun night out [...]
What could the Champlain Towers condo collapse mean to SC CPAs? The moral of the tragic Champlain Towers story is that CPAs who audit, advise, or participate in HOAs [...]
This week on Accountable: Why negotiating with insurance brokers doesn't need to leave CFOs and HR Reps at odds. In addition to being a SCACPA advisor on B&I topics, [...]
Federal Legislation introduced to regulate tax preparers. A bill to regulate paid tax preparers and mandate they meet minimum competency standards was introduced by South Carolina 7th District Congressman [...]
