Approved: IL21-31: Extended Tax Relief
Earlier this week, the SC Department of Revenue approved and issued Information Letter 21-31: Extended Tax Relief – Nexus and Income Tax Withholding Requirements for Employers with Workers Temporarily [...]
Clarification Regarding Federal Tax Deductions on IPF Contributions
It is SCACPA’s goal to provide outstanding service and content to support your professional growth. We wanted to offer clarification regarding some information that was provided during the Scholarship [...]
Partnership Denied Deduction for Conservation Easement and 4 more topics! Nichols’ Tax Update, Issue 21-48
IRS Will Not Acquiesce in Mayo ClinicHolding on UBIT In an action on decision (AOD 2021-04, 2021-47 IRB 725), the IRS has announced that it will not acquiesce in an [...]
Genuine Learning Blog: FASB Announces 2022 Research Agenda
FASB announced its updated research agenda based off of initial discussions of the earlier 2021 Invitation to Comment. The ITC was an agenda consultation project to hear from stakeholders [...]
SCACPA Happenings: December 16 | SCACPA Connect, License Renewal, Knowledge Hub
SEE WHAT’S HAPPENING IN YOUR ASSOCIATION: EXPLORE SCACPA CONNECT As year-end and tax season approach, dial into the number one online resource for finding answers and building community [...]
Genuine Learning Blog: ASU 2021-10
FASB has issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance. This much awaited ASU addresses disclosures for profit entities about the types of government [...]
Genuine Learning Blog: ASU 2021-09
FASB issued ASU 2021-09, Discount Rate for Lessees That Are Not Public Business Entities. The much-anticipated changes to permit the use of the private company alternative without having to [...]
IRS Clarifies Accounting and Reporting of Forgiven PPP Loans and 7 more topics! Nichols’ Tax Update, Issue 21-47
Updates Near for Fixing Obsolete Professional Conduct Rules Treasury is reviewing draft revisions to Circular 230 that are said to provide changes for unenforceable provisions and clarify sections that [...]
Genuine Learning Blog: Temporary Policy Statement Related to the USERRA
The AICPA's Professional Ethics Executive Committee (PEEC) has issued a Temporary Policy Statement Related to the Uniformed Services Employment and Reemployment Rights Act(USERRA) and parallel state statutes. They are [...]
Understanding the Basics Behind the Employee Retention Credit (Part 2)
Margaret Krajcer, JD, is vice president and general counsel of Tax Credits Group, a Cleveland-based firm specializing in federal and state R&D tax credits and the Employee Retention Credit. [...]
This week on Accountable, How CPAs Can Avoid Burnout, with Frank Castillo, CPA
This week on Accountable: How CPAs Can Avoid Burnout, with Frank Castillo, CPA In addition to being a SCACPA advisor on B&I topics, David Peters is an acclaimed and [...]
Genuine Learning Blog: Disclosure Framework— Proposed Changes to Interim Disclosure Requirements
The FASB has issued an exposure draft as part of its Disclosure Framework project to update the disclosure requirements for interim reporting. The proposal follows ASU 2018-13 and 2018-14 [...]