View from the Dome December 6, 2024
The Senate and House of Representatives met this week for their organization session in preparation for the 2025 legislative session. The 126th General Assembly will convene on January 14, 2025, [...]
The Senate and House of Representatives met this week for their organization session in preparation for the 2025 legislative session. The 126th General Assembly will convene on January 14, 2025, [...]
Provided by Copper Dome Strategies, LLC The long-awaited election finally arrived this past Tuesday as South Carolinians set a new record for voting in the Palmetto State. 76% of [...]
Provided by Copper Dome Strategies, LLC State economists met to review tax revenue and discuss the state of our economy. A Senate committee met to discuss the state’s growing [...]
Provided by Copper Dome Strategies, LLC It has been a trying and heartbreaking week in South Carolina and across the region following the arrival of Hurricane Helene last Friday, [...]
Provided by Copper Dome Strategies, LLC The Conference Committee on the state budget met this week but did not adopt a Conference Report. Primary elections were held on Tuesday [...]
Provided by Copper Dome Strategies, LLC The Conference Committee on the state budget met and organized this week. The General Assembly will return beginning next week to deal with [...]
Provided by Copper Dome Strategies, LLC State economists met this week and increased the revenue estimate adding more funds to the state budget. Governor Henry McMaster signed a number [...]
Provided by Copper Dome Strategies, LLC The 125th General Assembly adjourned Sine Die yesterday at 5:00 pm after a flurry of last week activity. The second year of the [...]
Provided by Copper Dome Strategies, LLC As the clock is ticking on the 125th General Assembly, the Senate was busy debating House bills this week while the House was [...]
Provided by Copper Dome Strategies, LLC Judicial elections were held on Wednesday. There were numerous subcommittee and committee meetings as the clock is beginning to wind down on the [...]
Provided by Copper Dome Strategies, LLC Two-thirds of the eighteen-week legislative session has been completed, and just six weeks remain before the May 9 adjournment. Both chambers were busy [...]
Renewals for your Certified Public Accounting or Accounting Practitioner license with the South Carolina Board of Accountancy for 2024 are now open. Information to renew your license online is [...]
Employers who file at least 10 W-2 or 1099 forms with South Carolina withholding are now required to submit those documents to the South Carolina Department of Revenue (SCDOR) [...]
The South Carolina Department of Revenue’s Information Letter #23-11 provides an overview of tax law changes enacted during the 2023 legislative session in South Carolina. The main updates include: [...]
The South Carolina Department of Revenue (SCDOR) has announced changes concerning the state's Maximum Sales & Use Tax (Max Tax). Here are the key takeaways: Max Tax is a [...]
The following was provided by the South Carolina Department of Employment & Workforce Development SC DEW would like to announce that employers now have an additional option to make [...]
Provided by Copper Dome Strategies, LLC The 1st regular session of the 125th South Carolina General Assembly concluded last week. Many of the priorities going into the session were [...]
In a recent announcement, the South Carolina Department of Revenue (SCDOR) has informed taxpayers and tax professionals, including CPAs, about a significant change in their refund disbursement process. Effective [...]
The following email was sent from the South Carolina Department of Labor, Licensing and Regulation on December 3, 2022. Questions regarding this renewal process and your CPA license may [...]
The following was sent to all SC CPA Licensees from the South Carolina Board of Accountancy on July 1, 2022. The Board may be contacted at Contact.Accountancy@llr.sc.gov. To support [...]
A monthly conversation about the latest tax issues and updates. What's trending this month? Be Careful About Ownership Structure to Pass Credits Through to Owner Disability Benefits Included in [...]
South Carolina CPAs received two significant legislative wins this past week. South Carolina Governor Henry McMaster (R) signed two bills into law that positively impact the CPA profession in [...]
The AICPA, SCACPA, and 51 other state CPA societies sent a letter to Assistant Treasury Secretary Lily Batchelder and IRS Commissioner Charles Rettig regarding widespread concerns on the Schedules [...]
Nichols' Tax Update, Issue 22-1 Label Doesn’t Determine Rental Self-Employment Tax Exclusion In a legal memorandum, the IRS concluded that the definition of rental activity from section 469 doesn’t [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]