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This week, Treasury and the IRS are starting to send nearly 4 million Economic Impact Payments (EIPs) by prepaid debit card, instead of by paper check. EIP Card recipients can make purchases, get cash from in-network ATMs, and transfer funds to their personal bank account without incurring any fees. They can also check their card…

05/18/2020 UPDATE:  All North Carolina CPA Exam Notices to Schedule (NTS) expiring between April 1, 2020, and December 30, 2020, will now expire on December 31, 2020. The expiration date will update automatically within the next two weeks; there is no need to contact the Board at this time. The expiration date for Exam section…

The AICPA’s revised PPP Loan Forgiveness Calculator is now available. Late Friday night, the Treasury Department and the SBA issued the PPP loan forgiveness application, which includes guidance on PPP loan forgiveness. The AICPA’s Firm Services/PCPS team updated the calculator to reflect the information provided in the application. However, the guidance issued does not provide…

As an update to our previous post on April 30 regarding the request for all Section 501(c) organizations to have access to PPP and similar programs, we received the following update from the American Society of Association Executives (ASAE): Last week, the US House of Representatives passed the Health and Economic Recovery Omnibus Emergency Solutions…

The Government Accountability Office (GAO) released a COVID-19 GAGAS CPE Alert which focuses on a six-month grace period for completing Yellow Book CPE and a temporary waiver for the 20-hour annual requirement. This resource even explains different scenarios you may face when dealing with Yellow Book requirements this year.  

  Want employers to notice you? Join NCACPA Chair Kelli Knoble, CPA, and Yvonne Hinson, CPA, CGMA, Ph.D. for the AICPA’s Emerging Technologies in Accounting webinar this Thursday, May 14 at 1pm ET. Discover the rapidly changing technological skills and competencies employers expect and how AICPA Certificate Programs can help you gain a competitive edge….

With a variety of steps underway to speed Economic Impact Payments, the Treasury Department and the Internal Revenue Service urged people to use Get My Payment by noon Wednesday, May 13, for a chance to get a quicker delivery. The IRS, working in partnership with Treasury Department and the Bureau of Fiscal Services (BFS), continues…

WASHINGTON — The Internal Revenue Service issued proposed regulations that provide guidance for estates and trusts clarifying that certain deductions of estates and non-grantor trusts are not miscellaneous itemized deductions. The Tax Cuts and Jobs Act (TCJA) prohibits individual taxpayers from claiming miscellaneous itemized deductions for any taxable year beginning after Dec. 31, 2017, and…