Nichols Tax Update Issue 21-36 Memo Provides Guidance on Partnership Election Revocation Requests The IRS Large Business and International Division and the IRS Small Business/Self-Employed Division have issued a [...]
Nichols Tax Update Issue 21-35 Fact Sheet Lays Out Information on Advance Child Tax Credit The IRS has issued a fact sheet (FS-2021-11) on how to use the advance [...]
Nichols’ Tax Update Podcast: Issue 21-34 Aunt Entitled to Child Tax Credits, Dependency Deductions The Tax Court, in a summary opinion, held that an individual is entitled to dependency [...]
Nichols’ Tax Update Podcast: Issue 21-33 IRS Offers Safe Harbor for Employers Using Retention Credit New IRS guidance will allow employers to exclude some items from their gross receipts to [...]
The AICPA Auditing Standards Board has proposed the most significant changes regarding quality management since 2006 with three new interrelated quality management standards which will impact CPA firms at both [...]
Nichols’ Tax Update Podcast- Issue 21-32 IRS Urges EIN Holders to Update Responsible Party Information The IRS, citing security issues, has urged (IR-2021-161) entities with employer identification numbers to [...]
Nichols’ Tax Update Podcast- Issue 21-31 Retiree Must Pay Taxes on Garnished Income The Tax Court sided with the IRS in finding that the state debt repayment deductions from [...]
CPA EVOLUTION UPDATE: WHAT IS THE IMPACT ON YOU? This week SCACPA leadership attended a meeting of the South Carolina Board of Accountancy Education Subcommittee. In addition to SCACPA [...]
View From the Dome - June 25, 2021: The General Assembly returned to Columbia Monday to adopt the Conference Report on the state budget. Several committees met this week [...]
Communicating relevant South Carolina specific information and Advocacy on behalf of our CPA Members are important elements of SCACPA’s service to members. Here is your weekly update of actions [...]
As part of SCACPA’s dedication to Advocacy on behalf of the CPA Profession, here is your weekly update of actions being taken during the 124th Legislative Session, prepared in [...]
Spring Splash Reminder! SCACPA is offering more than 60 hours of livestream learning in May and June. There’s still time to register for Lynn Nichols’ informative livestream Tax sessions: Net Operating Losses [...]
South Carolina recipients of unemployment compensation are allowed to exclude from state taxes up to $10,200 of benefits they received in 2020, thanks to Gov. Henry McMaster signing into law [...]
As part of SCACPA’s dedication to Advocacy on behalf of the CPA Profession, here is your weekly update of actions being taken during the 124th Legislative Session, prepared in [...]
If you’ve worked as a CPA for long, you’ve probably dealt with after-hours requests and rushed back to the office at night or on the weekend to manage a [...]
As part of SCACPA’s dedication to Advocacy on behalf of the CPA Profession, here is your weekly update of actions being taken during the 124th Legislative Session, prepared in [...]
The South Carolina Department of Revenue will launch a new and improved version of its online tax portal, MyDORWAY, on June 28. When the enhanced MyDORWAY goes live, CPAs [...]
Have you ever attended an educational conference and found that so many of the sessions you want to attend happen at the same time? This May and June, SCACPA [...]
As part of SCACPA’s dedication to Advocacy on behalf of the CPA Profession, here is your weekly update of actions being taken during the 124th Legislative Session, prepared in [...]
SCACPA is excited to continue partnering with Surgent CPE for on-demand self-study in the 2020-21 membership year. Association members can depend on this incredible opportunity to get specialized knowledge [...]
As part of SCACPA’s dedication to Advocacy on behalf of the CPA Profession, here is your weekly update of actions being taken during the 124th Legislative Session, prepared in [...]
As part of SCACPA’s dedication to Advocacy on behalf of the CPA Profession, here is your weekly update of actions being taken during the legislative session, prepared in cooperation [...]
The U.S. Government Accountability Office has issued a technical update to Yellow Book. In a very rare move, GAO has made modifications to a handful of paragraphs in the [...]
Welcome to the Federal Tax Update Podcast, hosted by Lynn Nichols. This is presented as a member benefit by the South Carolina Association of CPAs. It is produced to [...]
As part of SCACPA’s dedication to Advocacy on behalf of the CPA Profession, here is your weekly update of actions being taken during the legislative session, prepared in cooperation [...]
Today’s blog looks at a movement to develop internationally applicable financial reporting guidance for nonprofit organizations. IFR4NPO (International Financial Reporting For Non Profit Organisations) has issued a consultation. The blog [...]
The first quarter of 2021 is a wrap, and it was a light quarter for standard setting. However, given everything else we have going on, that's probably not a [...]
Welcome to the Federal Tax Update Podcast, hosted by Lynn Nichols. This is presented as a member benefit by the South Carolina Association of CPAs. It is produced to [...]
As part of SCACPA’s dedication to Advocacy on behalf of the CPA Profession, here is your weekly update of actions being taken during the legislative session, prepared in cooperation [...]
The South Carolina Department of Revenue has issued guidance to draw attention to the situation that, as of this posting, unemployment benefits are taxable in South Carolina. The SC [...]