REAL-TIME UPDATE (April 24, 2019): SCACPA CEO Chris Jenkins spoke to legislators on Tuesday in support of the Board of Accountancy bill and to answer any questions they might [...]
View from the Dome – March 29, 2019 By Copper Dome Strategies, LLC The session is two-thirds completed (12 weeks down and 6 weeks remaining until the May 9 adjournment). [...]
Gov. Henry McMaster signed South Carolina’s annual tax Conformity legislation into law on Thursday, March 28. H.3985 (Reps. Lucas, G. M. Smith and Stavrinakis) had been ratified by the [...]
The U.S. Congress Joint Committee on Taxation has published a 32-page “Overview of Deduction for Qualified Business Income: Section 199A.” “The document appears to be a .PDF of 32 [...]
View from the Dome – March 22, 2019 By Copper Dome Strategies, LLC There was action on several major legislative initiatives, including education reform, medical marijuana, an update to the [...]
The SC House Tax Policy Review Committee on Thursday heard from Gov. Henry McMaster, who applauded the committee for its work and then introduced special guest speaker economist Dr. Art [...]
South Carolina’s annual tax Conformity legislation found in H.3985 (Reps. Lucas, G. M. Smith and Stavrinakis) received its third reading on the floor of the full Senate on Wednesday, [...]
As a CPA, you know how to navigate a challenging filing season. One maneuver is to file tax extensions on behalf of some clients. This lengthens the time you [...]
View from the Dome – March 15, 2019 By Copper Dome Strategies, LLC There were no meetings scheduled in the House this week as they debated and passed the [...]
The South Carolina Department of Revenue has released Information Letter 19-8, a 2-page advisory opinion regarding waiving federal penalties for underpayments of estimated taxes by certain farmers and fishermen. [...]
The South Carolina Department of Revenue has released Information Letter 19-7, a 13-page advisory opinion that summarizes South Carolina conformity with Internal Revenue Code sections affecting individual taxpayers through Feb. [...]
March 14, 2019 There have been many questions about the hosting standard that was supposed to be effective in 2018 but was delayed until July 1, 2019. At last, [...]
The pace of change has never been this fast, yet it will never be this slow again. With your support, SCACPA successfully navigated the change to the new All-Inclusive [...]
The full Senate Finance Committee gave a favorable report on H.3985 (Reps. Lucas, G. M. Smith and Stavrinakis), the annual tax Conformity legislation, on Tuesday, March 12. UPDATE: The Conformity [...]
View from the Dome – March 8, 2019 By Copper Dome Strategies, LLC The Senate Finance Sales and Income Tax Subcommittee approved the annual tax conformity legislation. The South Carolina [...]
The South Carolina House Tax Policy Review Committee voted to adopt a plan to lower the state’s income tax from 7% to 4.5% over a five-year period. The plan would [...]
Don’t miss this extraordinary opportunity to promote the Profession and promote yourself! We are asking for CPAs to serve on an-air tax season phone bank on Thursday, March 14, on [...]
View from the Dome – March 1, 2019 By Copper Dome Strategies, LLC The debate over comprehensive education reform continued in both bodies. The Chief Justice of the State Supreme [...]
A Tax Conformity Bill sponsored by House Speaker Jay Lucas (R-Darlington), House Ways and Means Committee Chairman G. Murrell Smith Jr. (R-Sumter) and Leon Stavrinakis (D-Charleston) was introduced on Thursday, [...]
The ever-changing landscape of tax and audit means it helps to rely on guidance from trusted voices. The South Carolina Association of CPAs is proud to offer as a [...]
