NCACPA Advocacy Leads to IRS Statement on Erroneous CP-14 Notices
Thanks in part to federal advocacy initiated by NCACPA, the Internal Revenue Service released a statement on July 27 regarding erroneous CP-14 notices issued in June. The IRS announced that affected taxpayers should not respond to the notice at this time. The statement also declares that “any assessed penalties and interest will be automatically adjusted…
2022 NCGA Short Session Tax Legislation Summary
The General Assembly recessed its 2022 short session on July 1. Although the short session featured no major tax legislation, there were several bills that made modest changes to the tax code. A summary of these changes can be found here. NCACPA extends its gratitude to William W. Nelson, Esq., co-leader of the tax group…
NCACPA Takes Swift Action to Reduce Late Tax Payment Penalty Rate
North Carolina’s late tax payment penalty will be cut in half thanks to a deal brokered by NCACPA and approved by the General Assembly on June 16. One week earlier, the NC Department of Revenue had informed lawmakers and NCACPA that efforts to implement a graduated late payment penalty had hit a technology roadblock. The…
Evonne Bolding
Evonne works on the Solutions Support team providing an engaging and positive encounter on your first point of contact via phone with NCACPA. She is a military brat that grew up in Fayetteville around the Army base at Fort Bragg. This allowed her to meet people from around the world and she never meets a…
NCACPA Secures Policy Victories for Pandemic-Affected Taxpayers
NCACPA secured three key wins for taxpayers impacted by the COVID-19 pandemic in a bill passed by the General Assembly moments before it adjourned for the upcoming primary election. Legislation making technical corrections to the state budget contained three provisions advanced by NCACPA through direct lobbying, grassroots outreach by members of our Key Person Program,…
NCACPA Advocates for Businesses and Practitioners on Schedules K-2, K-3
On February 24, NCACPA and 51 state CPA societies joined AICPA in sending a letter to the Treasury Department and the IRS calling for delayed implementation of requirements for Schedules K-2 and K-3 until 2023. The letter also urges Assistant Treasury Secretary Lily Batchelder and IRS Commissioner Charles Rettig to suspend any assessment of penalties…
NCACPA Secures Extension of March 1 Deadline for Farmers and Fishermen
At the urging of NCACPA, state lawmakers unanimously approved legislation to extend the March 1 state tax deadline for farmers and fishermen until April 15. NCACPA’s Advocacy team had been in touch with the NCDOR and legislative leaders to ask for an extension of the deadline after the NCDOR announced the kickoff of the state…
IRS Delays K-2, K-3 Requirements for Some Partnerships
On February 16, the Internal Revenue Service provided further details on additional transition relief for certain domestic partnerships and S corporations preparing the new schedules K-2 and K-3 to further ease the change to these new schedules. Those eligible for the relief will not have to file the new schedules for tax year 2021. The…
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