Tax

LEGISLATIVE UPDATE: Legislation Signed into Law Includes Many Healthcare Provisions

By | 2018-05-25T18:53:09+00:00 May 25th, 2018|Featured, Governmental, Legislative/Advocacy, Tax|

South Carolina’s journey toward reaching Tax Conformity is on hold until the legislature meets again to consider it under Legislation Awaiting Final Action. The General Assembly is expected to return [...]

IRS Scam Warning: Phishing Attacks Come Disguised as Professional Association Outreach

By | 2018-05-25T13:01:13+00:00 May 25th, 2018|Business & Industry, Featured, Tax, Technology|

The IRS and its state and industry Security Summit partners warned tax practitioners to beware of phishing emails posing as state accounting and professional associations. The IRS has received [...]

Minnesota’s Window on Tax Conformity Closes After Standoff Between Governor, Legislature

By | 2018-05-24T14:02:12+00:00 May 23rd, 2018|Featured, Governmental, Tax|

The deadline on a political standoff between Minnesota’s Democratic Governor and its Republican-led Legislature means that state’s tax code has not been conformed to the Federal Tax Cuts and [...]

Improved Taxpayer Customer Service is Goal for IRS Five-Year Strategic Plan

By | 2018-05-23T18:25:44+00:00 May 23rd, 2018|Governmental, Tax|

The IRS released a five-year Strategic Plan outlining goals to improve taxpayer service and tax administration. The Fiscal Year 2018-2022 IRS Strategic Plan is a roadmap for the agency’s programs [...]

SCACPA Urges Immediate Action on Conformity This Summer

By | 2018-05-23T18:26:26+00:00 May 23rd, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Legislative/Advocacy, Tax|

Throughout the recent South Carolina legislative session, the South Carolina Association of CPAs communicated to legislators and the public at large that Conformity is needed as soon as possible. [...]

IRS: Federal Guidance on State, Local Tax Credits is On the Horizon

By | 2018-05-23T15:53:53+00:00 May 23rd, 2018|Auditing & Accounting, Business & Industry, Governmental, Tax|

The U.S. Department of the Treasury and the IRS issued a notice on May 23, 2018, stating that proposed regulations will be issued addressing the deductibility of state and local [...]

LEGISLATIVE UPDATE: Budget, Conformity are on Legislature’s Summer To-Do List

By | 2018-05-25T18:40:20+00:00 May 22nd, 2018|Featured, Governmental, Legislative/Advocacy, Tax|

South Carolina’s journey toward reaching Tax Conformity is on hold until the legislature meets again to consider it under Legislation Awaiting Final Action. The Sine Die Resolution allows the [...]

CPAs Can Find Advice on How to Add Planning Services

By | 2018-05-17T01:09:02+00:00 May 17th, 2018|Auditing & Accounting, Business & Industry, Tax|

AICPA has held recent conversations that point to resources CPAs can use on how to remain relevant as the marketplace for tax compliance services is becoming commoditized by advances in [...]

News Roundup: Thousands of SC Technical Jobs are Unfilled, Lexington Co. has State’s Best Cost of Living

By | 2018-05-16T15:55:37+00:00 May 16th, 2018|Auditing & Accounting, Business & Industry, Governmental, Legislative/Advocacy, News Roundup, Tax|

As Thousands of Technical Jobs go Unfilled, Leaders Debate Ways to Strengthen Workforce With the state’s 4.4% unemployment rate at a near two-decade low, thousands of new residents moving in [...]

Legalized Sports Gambling May Be Tricky Tax Bet in South Carolina

By | 2018-05-23T16:35:40+00:00 May 16th, 2018|Business & Industry, Governmental, Legislative/Advocacy, Tax|

The Supreme Court struck down the 1992 Professional and Amateur Sports Protection Act that prohibited states from authorizing sports gambling by a 6-3 vote on Monday, May 14. It [...]

LEGISLATIVE UPDATE: House, Senate, Include Conformity Bills as Sine Die Resolutions

By | 2018-05-11T13:27:33+00:00 May 11th, 2018|Featured, Governmental, Legislative/Advocacy, Tax|

The "South Carolina Taxpayer Protection and Relief Act,” the Senate version of tax Conformity (S. 1258), was introduced by Senate President Pro Tem and Finance Committee Chairman Hugh Leatherman (R-Florence) on [...]

BREAKING: Senate Introduces Tax Conformity Bill on Final Day of Session

By | 2018-05-10T12:20:52+00:00 May 10th, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Legislative/Advocacy, Regulatory, Tax|

With the hours ticking away before the end of the legislative session, the S.C. Senate introduced a bill for Tax Conformity on Thursday, May 10. The “South Carolina Taxpayer Protection [...]

IRS.gov Tool Upgrades Access into Tax-Exempt Organizations

By | 2018-05-09T18:04:11+00:00 May 9th, 2018|Auditing & Accounting, Business & Industry, Governmental, Regulatory, Tax|

The IRS introduced an online tool that provides faster, easier access to public information about charities and exempt organizations. Tax Exempt Organization Search replaces EO Select Check, which has been [...]

Letter from the SCACPA CEO: Senate Must Avoid ‘Inertia’ and Take Action on Conformity

By | 2018-05-08T12:43:01+00:00 May 8th, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Legislative/Advocacy, Regulatory, Tax|

South Carolina’s legislative session is set to adjourn on Thursday, May 10, and the fate of a Tax Conformity bill remains in serious question. Cindi Ross Scoppe, the Associate Editor [...]

LEGISLATIVE UPDATE: With Lucas Leading Charge, House Moves Conformity to Senate for Debate

By | 2018-05-04T14:34:45+00:00 May 4th, 2018|Blogs, Featured, Legislative/Advocacy, Tax|

Three legislative days remain in this session, and a bill that would grant Tax Conformity for South Carolina to the Federal code is on its way to the Senate for [...]

IRS Celebrates Small Business Week with Targeted Tax Tools

By | 2018-05-03T14:10:29+00:00 May 2nd, 2018|Blogs, Tax, Technology|

In recognition of National Small Business Week (April 29-May 5), the IRS is highlighting its resources that help small business owners and the self-employed understand and meet their tax obligations, [...]

Gov. McMaster Urges House, Senate to Pass Conformity in Letter

By | 2018-05-03T14:40:33+00:00 April 30th, 2018|Blogs, Featured, Legislative/Advocacy, Tax|

With days running out before this S.C. legislative session adjourns, S.C. Gov. Henry McMaster sent a letter that asks the General Assembly to address the issue of Conformity to the [...]