Memo Provides Guidance on Partnership Election Revocation Requests and 5 more topics! Nichols Tax Update Issue 21-36

By |2021-09-14T10:10:26-04:00September 14th, 2021|Featured, Regulatory, Tax|

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 [...]

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AICPA Seeks Quick Relief on Interruption of LIFO Inventories and 3 more topics! Nichols Tax Update Issue 21-34

By |2021-09-07T13:14:42-04:00August 31st, 2021|Regulatory, Tax|

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 [...]

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IRS Offers Safe Harbor for Employers Using Retention Credit and 5 more topics! Nichols Tax Update Issue 21-33

By |2021-08-31T19:53:49-04:00August 25th, 2021|Regulatory, Tax|

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 [...]

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Advance Child Tax Credits Hurtling Toward 2022 ‘Train Wreck’ and 6 more topics! Nichols Tax Update 21-32

By |2021-08-25T09:20:03-04:00August 17th, 2021|Regulatory, Tax|

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 [...]

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Nichols’ Tax Update Podcast: Issue 21-29, IRS Issues Fact Sheet on Child Care Tax Credit Advances, and much more!

By |2021-07-29T15:54:20-04:00July 28th, 2021|Featured, Tax, Uncategorized|

Nichols’ Tax Update Podcast: Issue 21-29, IRS Issues Fact Sheet on Child Care Tax Credit Advances, and much more!   Bank Is Immune From Liability for Complying With IRS [...]

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BPP FILING IS STREAMLINED, HAS YOUR COUNTY ADOPTED THE ONLINE PROCESS? See if yours is one, and if not, how to help.

By |2021-07-29T16:12:31-04:00July 21st, 2021|Advocate, Featured, Legislative/Advocacy, Membership, Tax, Uncategorized|

BPP Filing Is Streamlined, Has Your County Adopted the Online Process? SCAPA Advocacy helps simplify the process.  As a result, 16 South Carolina counties have adopted the standardized online [...]

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Nichols’ Tax Update: Issue 21-28, Christian Group That Battled IRS Receives Exemption After All, and much more!

By |2021-07-29T16:34:39-04:00July 21st, 2021|Featured, Tax|

Nichols’ Tax Update: Issue 21-28 Christian Group That Battled IRS Receives Exemption After All, and much more! Temporary Regs Implement Requirements Regarding Surprise Billing Federal agencies, including Treasury, have [...]

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Nichols’ Tax Update Podcast: Issue 21-26, Christian Group Challenges IRS on Proposed Exemption Denial, and much more!

By |2021-07-30T12:21:33-04:00July 7th, 2021|Auditing & Accounting, Membership, Tax, Uncategorized|

Nichols’ Tax Update Podcast, Issue 21-26 10 Topics this week: **** IRS Will Not Acquiesce in TriNetHolding on FICA Tip Credits In an action on decision the IRS has announced [...]

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Lynn Nichols Federal Tax Update – “Mark-to-Market election applied to holdings of single member LLC, not to holdings of the member” Plus 5 More Topics

By |2021-06-30T16:36:42-04:00June 28th, 2021|Auditing & Accounting, Featured, Membership, Tax, Uncategorized|

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 [...]

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Lynn Nichols Federal Tax Update (June 7, 2021): “Indirect Methods” is a Fancy Term for “Bank Deposits,” Among 5 Topics

By |2021-07-30T12:24:55-04:00June 7th, 2021|Educate, Featured, Regulatory, Tax|

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 [...]

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Lynn Nichols Federal Tax Update (June 1, 2021): When Do I Have Income? An Old Question with New Twists, Among Several Topics

By |2021-06-07T09:42:13-04:00June 2nd, 2021|Educate, Governmental, Tax|

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 [...]

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SCDOR Guidance: How to Amend a State Tax Return to Exclude Unemployment Benefits

By |2021-06-01T12:57:23-04:00June 1st, 2021|Communicate, COVID-19, Featured, Governmental, Public Relations, Regulatory, Tax|

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 [...]

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Lynn Nichols Federal Tax Update (May 24, 2021): Refunds of Tax On Unemployment Comp Set to Begin

By |2021-06-02T13:27:39-04:00May 26th, 2021|Educate, Tax|

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 [...]

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IRS Message on Shift in Procedure: Collection Delinquency Resolutions Will Now be Exclusively Handled by SB/SE’s Automated Collection System

By |2021-06-04T12:44:14-04:00May 26th, 2021|Communicate, Tax|

The IRS Wage & Investment Division would like to address ongoing questions about certain Practitioner Priority Service line services. PPS assistors will continue to work with Forms 2848/8821/8655 representatives [...]

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View From the Dome (May 21, 2021): General Fund Revenues are $412M Above Expected Collections, Per BEA Report

By |2021-05-28T17:33:32-04:00May 21st, 2021|Advocate, COVID-19, Governmental, Legislative/Advocacy, Tax|

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 cooperation [...]

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