Tax

SCACPA Member Benefit Alert: Access the Clemson Tax School via Livestream

By |2018-07-16T11:54:51+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. Every year, there are [...]

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 [...]

Upcoming ‘Tax Team’ Courses Highlight SCACPA Roster of Federal Tax CPE

By |2018-07-13T15:42:44+00:00July 10th, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Membership, News Release, Regulatory, Tax|

The South Carolina Association of CPAs is excited to introduce a new Federal Tax Update course with the “South Carolina Tax Team.” SCACPA has assembled distinguished, nationally recognized Federal [...]

Board of Accountancy Q2 Newsletter: Updates on New Education Committee, Succession Planning

By |2018-07-09T17:12:57+00:00July 9th, 2018|Auditing & Accounting, Business & Industry, Governmental, Legislative/Advocacy, Regulatory, Tax|

The South Carolina Board of Accountancy has released its 2nd Quarter 2018 Newsletter, and it includes a list of all recently licensed South Carolina CPAs from October 2017-March 2018. [...]

DEW Announces July Classes For SUITS Electronic Filing For Employers, TPAs

By |2018-06-29T13:11:29+00:00June 29th, 2018|Auditing & Accounting, Blogs, Business & Industry, Featured, Governmental, Membership, Partners, Regulatory, Tax|

The S.C. Department of Employment and Workforce replaced its legacy tax system in March with its State Unemployment Insurance Tax System. Since the end of the 2018 1st quarter [...]

DOR Looks Into S.C. Sales Tax Options of SCOTUS Wayfair Decision

By |2018-06-27T14:26:27+00:00June 27th, 2018|Business & Industry, Governmental, Regulatory, Tax|

The U.S. Supreme Court has ruled that states can require online retailers to collect sales taxes.  In the decision of South Dakota v. Wayfair Inc. on Thursday, June 21, the [...]

Deadline Nears to Pledge a Tax Credit Donation as Exceptional SC Passes Halfway Mark to $12M Goal

By |2018-06-25T14:04:39+00:00June 25th, 2018|Featured, Membership, Tax|

Exceptional SC, is a 501(c)3 charity that helps K-12 students with special needs attend credentialed private schools through tuition tax credits and scholarships, has announced it is quickly on the [...]

LEGISLATIVE UPDATE: House, Senate Remain at Odds on $60M of Budget

By |2018-06-25T18:30:33+00:00June 22nd, 2018|Featured, Governmental, Legislative/Advocacy, Tax|

The General Assembly is set to return to Columbia on Wednesday, June 27, to allow members to continue working on specified unfinished business, including Tax Conformity, the state budget, and [...]

IRS’ Kautter Signals That 199A Guidance on Pass-Through Deductions is Pending Release

By |2018-06-15T15:35:06+00:00June 15th, 2018|Auditing & Accounting, Business & Industry, Governmental, Legislative/Advocacy, Tax|

When will the IRS issue guidance on new Internal Revenue Code section 199A? That’s among the top questions on CPAs’ minds related to the Tax Cuts and Jobs Act. The [...]

SCACPA joins Chamber of Commerce in Conformity Statement

By |2018-06-14T14:51:27+00:00June 14th, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Legislative/Advocacy, Membership, Regulatory, Tax|

The South Carolina Association of CPAs has joined the South Carolina Chamber of Commerce in a news statement urging Conformity action by the state Senate this summer on June [...]

With More than 2 million ITINs to Expire in 2018, IRS Urges Early Steps to Renew

By |2018-06-14T12:25:37+00:00June 14th, 2018|Governmental, Tax, Uncategorized|

With more than 2 million Individual Taxpayer Identification Numbers set to expire at the end of 2018, the IRS urges affected taxpayers to submit their renewal applications soon to [...]

Hurricane Season is Underway, and IRS Warns of Natural Disaster Scams

By |2018-06-07T13:38:02+00:00June 7th, 2018|Business & Industry, Governmental, Tax|

With hurricane season underway, the IRS is reminding taxpayers that criminals and scammers often try to take advantage of the generosity of taxpayers who want to help disaster victims. Hurricane [...]

American IRA: In a Self-Directed IRA, Know Your Wine Limit; and other Prohibited Transactions

By |2018-05-31T13:59:59+00:00May 31st, 2018|Partners, Tax|

By Jim Hitt, American IRA  [Note: American IRA was an exhibitor at SCACPA's Spring Splash Accounting Conference.] The Self-Directed IRA can be one of the most transformative tools an [...]

LEGISLATIVE UPDATE: Legislation Signed into Law Includes Many Healthcare Provisions

By |2018-05-25T18:53:09+00:00May 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+00:00May 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+00:00May 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+00:00May 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 [...]