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.
This Q&A from the AICPA can help your firm’s decision-making. In March of this year, the U.S. Supreme Court announced that it will hear a case that challenges the constitutionality of the individual mandate under The Patient Protection and Affordable Care Act (ACA). (The original case, Texas v. U.S., is now docketed in the Supreme…
NCACPA received this important notice from the NC Department of Revenue regarding the enhanced medical and dental expense deduction, providing additional guidance to taxpayers who may now qualify to deduct medical and dental expenses.
Per yesterday’s news update, “Medical & Dental Expense Tax Deduction Increased Under New Law,” see below for a detailed summary of HB 118, an act to provide limited immunity from liability for claims based on transmission of COVID-19. This summary was prepared for the benefit of our membership by the law firm of Smith Anderson….
Deduction Applies to Current Tax Filing RALEIGH – The North Carolina Department of Revenue (NCDOR) announced today that under a new law signed by Governor Roy Cooper last week, the state now follows a more favorable 7.5 percent itemized medical expense deduction threshold. This new threshold mirrors the federal deduction, which was extended for tax…
NASHVILLE, NEW YORK, BALTIMORE – (July 1, 2020) The National Association of State Boards of Accountancy (NASBA), American Institute of CPAs (AICPA) and Prometric are launching year-round testing of the Uniform CPA Examination (Exam) beginning today. The new continuous testing model provides greater candidate flexibility and convenience, with more than 75 additional testing dates…
A few days ago, the NC Department of Revenue notified NCACPA they have issued a new e-alert notifying taxpayers that Governor Cooper signed HB 1080 (Session Law 2020-58). As part of this legislation, North Carolina now follows the more favorable 7.5% itemized medical expense deduction threshold, which was extended for federal tax purposes for tax…
The Department of the Treasury and IRS announced the tax filing and payment deadline of July 15 will not be postponed. Individual taxpayers unable to meet the July 15 due date can request an automatic extension of time to file until Oct. 15. Due to COVID-19, the original filing deadline and tax payment due date…
In the early morning hours of June 26th, the NC General Assembly (GA) completed most of its work and adjourned the 2019-2020 session. However, the legislature will conduct pro forma sessions over the next week—awaiting Governor Cooper’s decisions on bills passed by the General Assembly—and then formally adjourn on Saturday, July 11, to reconvene on…
Today, the Internal Revenue Service issued final regulations permitting a regulated investment company (RIC) that receives qualified real estate investment trust (REIT) dividends to report dividends the RIC pays to its shareholders as section 199A dividends. Section 199A, enacted as part the Tax Cuts and Jobs Act (TCJA), allows individual taxpayers and certain trusts and…
The CPA Evolution initiative was created to transform the CPA licensure model to recognize and support rapidly changing skills and competencies the accounting profession now requires. This joint effort—between the National Association of State Boards of Accountancy (NASBA) and the American Institute of Certified Public Accountants (AICPA)—has been a significant focal point of our NCACPA…