ONLINE CPE REGISTRATION UPDATE
As NCACPA completes its system migration, registration for online CPE courses will temporarily close at 12:00 a.m. on the day prior to each program to allow for accurate attendance and CPE processing. We appreciate your understanding and will share updates once this step is no longer necessary. Please contact Solutions Support at 800-469-1352 with questions.
NCACPA is delivering this white paper to legislative leaders this week urging approval for broadened interest waiver eligibility for taxpayers impacted by Hurricane Helene. Last week, the General Assembly granted an interest waiver on late payments, but only for individuals and businesses located in the designated disaster counties. Many taxpayers whose tax preparers or records…
State lawmakers unanimously approved HB 149, the Disaster Recovery Act of 2024, a bill that appropriates $273 million to help communities in Western North Carolina recover from the devastation of Hurricane Helene. NCACPA successfully lobbied legislators to include important tax relief in the measure for individuals and businesses impacted by the storm. TAXED PTE ELECTION DEADLINE…
Two exposure drafts on alternative pathways to licensure were recently released for comment, which provides members the opportunity to provide feedback to those shaping the laws and regulations that govern the accounting profession. Your input will help determine whether these changes are implemented as proposed or amended based on responses. Once the Uniform Accountancy Act…
When the North Carolina General Assembly convenes on Wednesday, October 9, to consider disaster relief legislation for communities impacted by Hurricane Helene, NCACPA is asking that lawmakers extend the deadline for pass-through entities to make a Taxed PTE election for tax year 2023. Under current law, a Taxed PTE election must be made by the…
Global Mental Health Day is October 10! Mental health plays a vital role in both our professional and personal lives. It impacts how we handle stress, interact with others, and make decisions. Prioritizing mental health helps us stay balanced, improve our focus, and strengthen relationships both at work and in our daily lives. At NCACPA,…
The Financial Crimes Enforcement Network (FinCEN) has issued four notices extending the filing date of Reports of Foreign Bank and Financial Account (FBARs) for victims of recent natural disasters, including Hurricane Helene, Hurricane Debby, Hurricane Beryl, and Tropical Storm Francine. Victims of these recent natural disasters are granted an FBAR filing extension, as detailed in…
On October 1, 2024, NCACPA sent a letter to FinCEN requesting filing relief for businesses impacted by Tropical Storm Helene in North Carolina. The letter highlights the catastrophic damage in the region and requests that FinCEN grant similar relief for residents of the impacted areas of North Carolina who have a Report of Foreign Bank…
IR-2024-253, Oct. 1, 2024 WASHINGTON — The Internal Revenue Service today announced disaster tax relief for all individuals and businesses affected by Hurricane Helene, including the entire states of Alabama, Georgia, North Carolina and South Carolina and parts of Florida, Tennessee and Virginia. Taxpayers in these areas now have until May 1, 2025, to file…
Tax Treatment of “Qualified Disaster Payments” By Gerard H. Schreiber, Jr., CPA, Valrie Chambers, PhD, CPA, and Elizabeth G. Brennan, CPA (Updated Wednesday, September 25, 2024) Hurricane Helene affected taxpayers have experienced unprecedented flooding and damage this Hurricane season. Individuals and businesses want to help individuals affected by the disasters and may not realize…