eNC3 Update From NCDOR

We received the following information from the NC Department of Revenue, offering us the opportunity to share this data with our NCACPA members prior to their releasing it to the public. The NCDOR has been working diligently on preparations for the upcoming tax filing season. This effort includes work for the NC3 withholding filing requirement/deadline […]

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Sales and Use Tax Changes Effective January 1, 2017

The Association was notified that the NCDOR will be mailing over 10,000 notices to persons who have an electrical contractor license with the State of North Carolina. The document may be accessed at the following link:  www.dornc.com/taxes/sales/contractorletter2016.pdf.  The NCDOR has asked that members assist with forwarding the information discussed and referenced herein to others whom you believe will […]

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Federal Judge Blocks Overtime Rule

On Tuesday, November 22, Judge Amos Mazzant of Sherman, Texas granted a preliminary injunction delaying the implementation of the regulation that would extend overtime eligibility to over 4 million workers, which was set to take effect on December 1 of this year. As finalized in May by the Labor Department, the overtime rule doubled the […]

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New Podcast | 11-21-16

This week’s podcast discusses a case in which a religious organization formed to operate a coffee shop was denied exempt status, as well as a case in which a taxpayer’s assertion that a car was used 100% for business did not change requirements for documentation. You can listen to the podcast here and view its corresponding notes here. […]

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NCDOR Sales and Use Tax Division Publishes New Directives and Notices

The Sales and Use Tax Division of the North Carolina Department of Revenue published two directives and three notices for the various changes, expansions, and clarifications for real property contracts, RMI services, and service contracts. Key points of the directive: Definitions for “real property,” “real property contract,” and “capital improvement” are enacted. A contract is […]

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New Podcast | 11-14-16

This week’s podcast discusses the tax plan proposal of President-Elect Donald Trump. You can listen to the podcast here and view its corresponding notes here (link goes to external campaign site). To stay current on federal tax updates, visit our podcasts page, where we upload a new episode each week.

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Preliminary Election Results for North Carolina

NCACPA would like to share the following official preliminary North Carolina election results, current as of this morning, November 9, 2016, from the association’s legal counsel. Governor Pat McCrory is expected to call for a recount; Chuck Stuber and Buck Newton may do so as well. Provisional and absentee ballots that have yet to be […]

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New Podcast | 11-7-16

This week’s podcast discusses the latest phishing scam email that attempts to obtain e-Services credentials from tax professionals. The experts also cover the 2017 retirement plan inflation-adjusted limits. You can listen to the podcast here and view its corresponding notes here. To stay current on federal tax updates, visit our podcasts page, where we upload a new episode each week.

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CPAs: Provide Input on Passing Scores for Next CPA Exam

Licensed CPAs are invited to participate on a panel to help recommend passing scores for the next Exam, which launches April 1, 2017. There will be one panel per exam section, and each panel will meet for up to two days. Input from these panel meetings will be provided to the AICPA Board of Examiners […]

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