The North Carolina State Board of CPA Examiners announced that Wanda B. Taylor, Esq., from Raleigh, was recently appointed. Her appointment was announced by the office of Governor Roy Cooper in early March. Taylor swore the Oath of Office at the Board’s March 19, 2019, meeting and will serve as one of two public members […]
News
New Podcast 4-23-2019
This week’s podcast focuses on the following items: Draft forms issued to be used to report §199A deduction on 2019 returns Proposed regulations address NRA potential current beneficiaries of ESBTs that are also grantor trusts Memorandum address impact of §318 attribution rules on §1372 and self-employed health insurance deduction Second (and maybe final) set of […]
New Podcast | 4-16-2019
This week is a break from the regular updates. The program takes an overview at the end of tax season of where we stand on guidance on the TCJA, including what is final, what is likely to become final in the near future, and those areas current without guidance. This week’s podcast also focuses on […]
Return & Extension Acknowledgements by NC Department of Revenue
Due to a massive volume of e-filed tax returns and extensions, the NC Department of Revenue is experiencing a delay in sending out acknowledgements. They anticipate these confirmations will be behind by a few days, and will relay more specific updates to NCACPA as they are received by the Department’s I.T. staff. However, returns and […]
New Podcast | 4-8-2019
This week’s podcast focuses on the following items: IRS sends proposed regulations on §199A for cooperatives to OIRA for review PMTA outlines intereaction of home office and SALT cap Trade or business definition for instructions in Form 461 issue identified by IRS Second Circuit reverses Tax Court decision that found a tax “black hole” You […]
Announcing 2019 Award Winners
The 2019 NCACPA annual awards winners have been announced and will be recognized during the Annual Business Meeting held May 2, 2019, at the Raleigh Convention Center. Each year, we recognize several contributors for their outstanding work and exemplary representation of the Association and the accounting profession. We are pleased to announce this year’s winners. […]
New Podcast | 4-3-2019
This week’s podcast focuses on the following items: Tax Benefit Rules and Refunds Electric vehicle credits for GM vehicles to begin one year phase out IRS gives formal guidance on treatment of state income tax refunds following the TCJA $10,000 cap SALT workaround regulations and related notice sent to OIRA IRS changes requirements to obtain […]
Free April PCPS Tool | Engagement Review
As you’re wrapping up engagements, take some time to get feedback from your clients. You can improve your relationships with clients and identify opportunities to improve your firm processes using the Engagement Review Tool from the PCPS Trusted Client Advisor Toolbox. This tool is an example of the turnkey practice management tools and resources PCPSdelivers. PCPS is […]
New Federal Law for Military Spouse Same-State Tax Filing
A new federal law signed by President Donald Trump on December 31, 2018, the Veterans Benefits and Transition Act of 2018, allows military spouses to choose the same state of residence as their service member for tax filing purposes, regardless of whether they have ever lived in the state. A tax bulletin from the Virginia […]
New Podcast | 3-25-2019
This week’s podcast focuses on the following items: QBI and disallowed passive losses Minister’s housing allowance ruled to be acceptable under the U.S. Constitution Pilot had no profit motive for business related to vintage World War II aircraft IRS suspends two Revenue Rulings related to active trade or business issues under §355 Relief from underpayment […]