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 will help to streamline and simplify tax reporting for North Carolina accounting professionals.
The association will keep the membership informed of updates in the General Assembly’s short session regarding IRC conformity, as well as updates on Various Changes to Revenue Laws (SB 729) and other pertinent measures.