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.
On May 6, 2020, NCACPA requested that both Senator Burr and Senator Tillis co-sponsor S. 3612, a bill to clarify the intent of the CARES Act regarding deductibility of PPP loan proceeds. Senator Cornyn (R-TX) has introduced S. 3612, the Small Business Expense Protection Act of 2020, along with Senators Wyden (D-OR), Rubio (R-FL), Carper…
Yesterday evening, we received the attached copy of a new important notice from the NC Department of Revenue. The notice covers many of the new laws encompassed in Session Law 2020-3, which was signed by Governor Cooper earlier this week. This notice mentions a new form, Form 5502. According to DOR, Form 5502 is not yet finalized….
Navigate through various engagements and services around documenting expenses related to PPP forgiveness with the AICPA’s PPP Loan Forgiveness Services Matrix. AICPA’s Firm Services/PCPS team embedded links into the matrix that connect to sample letters for various engagements and documentation, along with links to guidance that CPA firms should consider for each type of service…
Interest Waiver Applies to Individual, Corporate, and Franchise Taxes Due from April 15 through July 15 RALEIGH – The North Carolina Department of Revenue (NCDOR) announced today expanded tax relief for individuals and businesses as part of the state’s response to the COVID-19 pandemic. Under the new law signed by Governor Roy Cooper, the NCDOR…
During a rare Saturday session, the North Carolina General Assembly unanimously passed COVID-19 response legislation to provide immediate relief for various sectors of the state due to the Coronavirus pandemic. This bill is on its way to the Governor. As a result of your advocacy efforts, Senate Bill 704: COVID-19 Recover Act included NCACPA priorities…
Today, Governor Roy Cooper signed Senate Bill 704 into law, which includes certain tax relief for North Carolinians. He was joined by House Speaker Tim Moore, Democratic House Leader Darren Jackson, Senate President Pro Tem Phil Berger, and Democratic Senate Leader Dan Blue. Governor Cooper also shared the following statement: “I am signing into law…
Following the launch of the Paycheck Protection Program (PPP), CPAs have an immediate need for guidance in order to help clients understand how to execute on the loan program and specifically how to document expenditures that will be eligible for future forgiveness. NCACPA sent letters to North Carolina’s entire congressional delegation this afternoon to urge…
SSI and VA recipients who have children and weren’t required file a tax return in 2018 or 2019 should visit the Non-Filers: Enter Payment Info Here tool on IRS.gov by Tuesday, May 5. This will help ensure they receive their full Economic Impact Payment as soon as possible. This tool is available in English and…
In support of 501C-6 organizations having access to the PPP process, the attached letter was sent to US Senate Leadership earlier this week. The letter was signed by both our US Senators and will include professional associations organized under 501(c)(6) of the Internal Revenue Code in the next round of federal relief aid for coronavirus…
The AICPA developed additional recommendations for CPAs to assist clients as they navigate the Paycheck Protection Program (PPP). The recommendations focus on the firm-lender relationship in the PPP application process. In addition, the AICPA’s Center for Plain English Accounting (CPEA) issued a special report on issues related to CPA involvement in small business loans under…