News Roundup

May 5, 2017

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SC Mayors Taking Steps to Alleviate Cyber Attacks

In 2012, the South Carolina Department of Revenue was breeched allowing for 3.6 million social security numbers to become exposed along with almost 400,000 credit and debit card numbers. Since then, cybersecurity has been a major issue not only at the state level, but in the local government levels as well. Columbia Mayor Steve Benjamin and Lexington Mayor Steve MacDougall recently addressed the issue. Benjamin said he’s not sure there is an answer, but the key is continued vigilance.

Hot Off the Press: 2017 CPA Exam Booklet

The new 2017 CPA Exam booklet is now available online and in print. Whether you’re already committed to sitting for the Exam, or still deciding, this booklet contains valuable information and helpful links to support your CPA journey. Need multiple copies? Contact the AICPA’s Exam Communications team.

How will the potential drop in the U.S. corporate income tax rate impact financial statements?

After the recent failure by the Republicans in the House to build the necessary backing for health care reform, House Republicans and the President have said they will be turning their focus to tax reform, with a goal of having markup legislation by August.

Avoid overpaying user fees for your voluntary correction program submission

The IRS Employee Plans Voluntary Compliance function has noticed an increase in submissions with incorrect user fees. Many of these submissions include user fees higher than what is required. To avoid the overpayment of user fees by plan sponsors, the IRS offers tips for plan sponsors and their representatives.

Business tax reform – the current state of play

President Trump campaigned on a platform of large tax cuts for businesses. Now, with President Trump in the White House and Republicans controlling both the House of Representatives and Senate, does it mean businesses can count on tax cuts?

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