AICPA Announces Scholarship for CPAs Seeking PhDs

By Sean McCabe The American Institute of CPAs announced on Tuesday that it will be launching a new scholarship program sponsored by the AICPA Foundation aimed at helping CPAs pursuing their PhDs. The $10,000 William (Bill) Ezzell Scholarship will be awarded to five accounting PhD candidates who “demonstrate significant potential to become mentors for the […]

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2019-2021 New Members of the NC General Assembly

This resource provides a list of new members of the House and Senate of the NC General Assembly for the 2019-2021 term. If you are connected with any of the new members listed, or incumbent members of the NC General Assembly, please consider becoming a key contact to aid the Association’s advocacy efforts for the […]

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Filing Deadline Updates

The Association sent a correspondence to IRS Deputy Commissioner Mary Beth Murphy earlier this week requesting tax relief for additional North Carolina counties impacted by Hurricane Florence. We will provide any updates as soon as they are received. Unrelated to hurricane relief, the Department of Revenue has stated they recognize a limited number of taxpayers […]

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New Disaster Relief Resources for CPAs

The Association has received generous outreach and resources from CPAs in other states who have recovered from similar devastation as Hurricane Florence. Gerald Schreiber, CPA, has authored and provided NCACPA two materials: What’s Next Now That the Flood Waters Have Gone Down? and Tax Treatment of “Qualified Disaster Payments.”

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NC Department of Revenue Publishes Important Notices Today

The Department of Revenue is in the process of posting two important notices on the its website today. One notice will address the State’s response to the federal provisions enacted under the Federal Tax Cuts and Jobs Act (“TCJA”) and the Bipartisan Budget Act of 2018 (“BBA”).  The other notice provides guidance to taxpayers on how […]

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IRS Issues Sec. 199A Regulations

The IRS released three components of Section 199A guidance – below are links to each: The proposed regs (Proposed regulations concerning the deduction for qualified business income under section 199A) A notice about W-2 wages (Notice 2018-64: Methods for Calculating W-2 Wages for Purposes of Section 199A) FAQs (Section 199A – Deduction for Qualified Business […]

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NCACPA Annual Meeting With IRS & Department of Revenue

The NCACPA Taxation Committee will hold its annual meeting in the fall with key IRS and NC Department of Revenue personnel, at which time there will be an opportunity to pose questions and submit comments. Each year, NCACPA asks the membership to help provide questions for these meetings. Please add questions or comments you wish […]

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Resource—NC Sales Tax Compliance in Wake of Wayfair Ruling

By Bill Nelson On August 7, 2018, the North Carolina Department of Revenue issued a Directive (SD-18-6) requiring remote sellers to begin collecting North Carolina sales tax on sales of goods and services to North Carolina customers. The Directive is a response to the United States Supreme Court’s ruling in South Dakota v. Wayfair, Inc., which eliminated […]

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