IRC Update Bill Likely to Move Forward in Short Session

The IRC Update bill (SB726) is likely to go to the Senate floor this week for voting and could make it to the House Finance Committee next week. This is the same IRC Update bill that passed the General Assembly last year. This is great news for the profession, as a timely consensus on IRC conformity […]

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New Podcast | 4-25-16

This week, the experts discuss how cybercriminals are obtaining remote control of tax preparers’ computer systems to forge fraudulent returns, as well as a new court ruling dictating that the credit carryover of a deceased person cannot be used by their surviving spouse in later tax years. You can listen to the podcast here and view its […]

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Senate Committee Advances Taxpayer Protection Act

The Senate Finance Committee passed legislation Wednesday to protect taxpayers from identity theft and tax fraud, but without a provision for regulating tax preparers. The legislation, known as the Taxpayer Protection Act of 2016, includes provisions such as providing a sole point of contact for identity theft victims to help them recover their stolen or […]

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New Podcast | 4-18-16

This week, the experts cover adjusted inflation rates released by the IRS for provisions related to the Affordable Care Act, as well as the Standard Industry Fare Level (SIFL) rates for the first six months of 2016. You can listen to the podcast here and view its corresponding notes here. To stay current on federal tax updates, […]

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IRS Warns of Continued Scams, Varied Tactics as the Tax Deadline Nears

WASHINGTON — The Internal Revenue Service today issued a warning that scammers may try using the April 18 tax deadline to prey on hard-working taxpayers by impersonating the IRS and others with fake phone calls and emails. Even after the tax deadline passes, taxpayers should know the telltale signs of a scam and tips to […]

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New Podcast | 4-11-16

This week, the experts cover one case in which a tax court granted a taxpayer damage awards for negligent tax advice, yet the IRS announced non-acquiescence with regard to the case. The experts also cover a case demonstrating refunds of erroneous HSA employee contributions can be issued under more conditions than just the two included in a formal IRS […]

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Here’s What Will Be Tested on the Next CPA Exam

By: Ken Tysiac, Journal of Accountancy  As the business environment has changed, a shift has occurred in the type of work newly licensed CPAs perform. Technical proficiency of accounting, auditing, and tax concepts remains important. Following the AICPA Examinations team’s most recent practice analysis, feedback from the profession indicated that the Uniform CPA Examination should […]

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New Form CD-400 MS Due 4/18 (no extension available)

The Association received an inquiry regarding this topic from a member today and given the quickly approaching deadline, NCACPA wanted to ensure there was awareness of the New Form CD-400 MS (which is not subject to an extension). Attached to this post are two documents: 1) NC Form CD-400 MS 2016 and 2) Guidelines for Computing the […]

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Taxpayer Advocacy Panel Warns Taxpayers of New Scam

The Taxpayer Advocacy Panel (TAP) has been alerted that taxpayers are receiving emails allegedly from TAP about their tax refunds. These emails are a scam; do not click the links in them. TAP never requests or has access to personal or financial information of taxpayers. This includes requests for PIN numbers, passwords or similar information […]

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IRS Warns DC, Maryland, Virginia Residents of New Capital Area Scam

WASHINGTON — As reports of phone scams as well as email phishing schemes continue across the country, the Internal Revenue Service warned taxpayers of a new phishing scam targeting Washington D.C., Maryland and Virginia residents. This time, the email scammers are citing tax fraud and trying to trick victims into verifying “the last four digits […]

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