ncacpa-govt-advocacyNo one does more to advance and safeguard your profession in North Carolina.

NCACPA strives to represent the profession’s interests in vital areas of public policy formation, standard-setting, and rule-making that would have impact on members, the profession as a whole, and the North Carolina business climate. Also, the association identifies and supports the campaigns of those legislators and candidates who understand the profession through our NC CPA Political Action Committee (PAC).

Sales and Use Tax Directive 18-1 Published

The Department of Revenue released this directive, which is an updated chart with a list of services to real property that are generally subject to sales and use tax as either repair, maintenance, and installation services for real property or as real property contracts. This chart has been expanded substantially as a result of legislative […]

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State Treasurer Announces Academy for Accountants

4/17/2018 Contact: Frank Lester (919) 814-3811 FOR IMMEDIATE RELEASE   State Treasurer Folwell Announces Treasurer’s Academy for Accountants N.C. Department of State Treasurer will offer intensive work experience (Raleigh, N.C.) – State Treasurer Dale R. Folwell, CPA, has announced plans to launch a highly selective program that will prepare accountants for careers in public sector […]

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NC Tax Filing Deadline Extended through April 18

The North Carolina Department of Revenue just announced that in light of the IRS extension, the Department will also extend the NC tax deadline through 11:59 pm today, April 18.

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Draft North Carolina Tax Legislation Released

By William W. Nelson Smith Anderson Law Firm On April 11, 2018, the General Assembly’s Revenue Laws Study Committee released a draft tax bill for possible introduction in the legislative session that convenes May 16. This Alert provides a summary of the more important provisions of the draft bill. A Fiscal Analysis Memorandum accompanying the […]

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New Tax Cuts and Jobs Act Resources

The AICPA’s tax team has updated two PowerPoint presentations on the impact of the new tax laws, which can be found at this Dropbox link. One presentation is for individuals, and one covers business considerations. You are free to use these decks in client conversations, educational activities, or other presentations. You will notice placements on the […]

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NCDOR Sales and Use Tax Important Notice

The Sales and Use Tax Division has issued IMPORTANT NOTICE: Updated Form E-589CI, Affidavit of Capital Improvement and updated the Form E-589CI, which incorporates legislative changes enacted by the 2017 Session of the General Assembly. Generally, services to real property are retail sales of, or the gross receipts derived from, repair, maintenance, and installation services, […]

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Ernst & Young Expanding in Charlotte

On February 27, Governor Cooper announced Ernst & Young LLP (EY), will create 375 jobs in Mecklenburg County and invest $8.2 million in Charlotte over the next five years. EY will also develop a wavespace center in Charlotte as part of the expansion. The firm launched wavespace centers beginning a year ago, which bring together […]

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New Ethics Interpretation on Hosting Client Data/Records

Recently, the AICPA Professional Ethics Executive Committee (PEEC) released a new interpretation of “Hosting Services” under “Non-Attest Rules” in the AICPA Code of Professional Conduct‘s “Independence Rule” (ET §1.295.143). Under the new rule, which applies to CPAs providing non-attest services to attest clients, hosting services can impair independence when a CPA takes responsibility for maintaining […]

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IRS Updates Withholding Calculator and Form W-2 for New Tax Law

The Internal Revenue Service released the updated withholding calculator and Form W-4 that it had promised for the new tax law to help taxpayers make sure they have the proper amount of taxes taken out of their paychecks. The IRS is urging taxpayers to use both tools to check on their withholding. “Following the major changes in the tax […]

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NC Department of Revenue Penalty Policy Memo

The Department of Revenue has just provided the Association with a policy memo regarding penalty waivers for tax statutes effective March 1, 2018. The document applies to requests for waiver of civil penalties considered by the Department on or after March 1, 2018, and supersedes all prior documents.

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