SCACPA Blog2018-04-27T14:34:20+00:00

SC DOR Revises its Revenue Ruling on Sales and Use Tax Economic Nexus Standard

The South Carolina Department of Revenue has announced an advisory opinion that updates SC Revenue Ruling #09-9 concerning when a retailer must remit a local jurisdiction’s Sales and Use Tax. It is the Department’s position [...]

In Letter to S.C. Congressional Delegation, Gov. McMaster Requests Help for Federal Support, Individual Assistance for Florence Recovery

Gov. Henry McMaster sent a letter to South Carolina’s congressional delegation on Thursday, requesting their continued support for his request for Federal disaster assistance for an expected $1.2 billion in damages needed for recovery efforts [...]

SEC Offers Regulatory Relief for Florence

The Securities and Exchange Commission announced Wednesday that it is providing regulatory relief to accountants, transfer agents, municipal advisors, publicly traded companies, investment companies, and others affected by Hurricane Florence where the loss of property, power, [...]

SC DOR to Offer Case-By-Case Tax Relief for Hurricane Florence

The South Carolina Department of Revenue announced on Tuesday that it will work on a case-by-case basis to waive any penalties assessed for taxpayers who cannot meet state filing or payment requirements because of [...]

SC DOR Issues Advisory Opinion for Remote Sellers and Sets Economic Nexus Standard of $100,000

The SC Department of Revenue has approved and issued its Advisory Opinion, Revenue Ruling 18-14: Retailers Without a Physical Presence (“Remote Sellers”) – Economic Nexus, on Tuesday, Sept. 18. It specifically affects remote sellers, defined [...]

Tax Conformity Arrangement Moves Forward from Senate Finance Subcommittee

The push to enact Tax Conformity in South Carolina passed a significant milestone as the Senate Finance Subcommittee on Conformity unanimously adopted an amendment to a House bill on Tuesday afternoon, Sept. 18. The [...]

IRS Reminder: Beware of Disaster Scammers During Florence Recovery

The IRS is reminding taxpayers that criminals and scammers try to take advantage of the generosity of taxpayers who want to help victims of major disasters, such as Hurricane Florence. Fraudulent schemes normally start [...]

SCACPA Urges IRS to Consider Paths for Tax Deadline Extensions for Those Under Mandatory Evacuation Orders

South Carolina’s road to recovery from Hurricane and Tropical Storm Florence will be long, but SCACPA has been hard at work to secure assistance and relief for the state’s taxpayers and preparers. On Monday, [...]

SCACPA Watches for State, Federal Responses to Tax Deadline Disaster Extension Requests

With mandatory evacuations along the South Carolina coast underway in anticipation of Hurricane Florence, SCACPA reached out early in the week to the SC DOR and the Governor’s Office to communicate the need for tax [...]

SCACPA Announces H. McRoy Skipper Scholarship Fund as Month of Service Project

A scholarship fund in memory of former SCACPA President H. McRoy Skipper, CPA, is being launched in conjunction with October’s 2018 Month of Service, the South Carolina Association of CPAs has announced. “I can’t [...]

S.C. News Roundup: IRS Loophole Proposal Could Constrict Exceptional SC Scholarship Donations

IRS Loophole Proposal Could Constrict Exceptional SC Scholarship Donations Proposed IRS regulations that attempt to clarify expectations between charitable contributions and tax payments could limit a loophole that made the Exceptional SC scholarship and [...]

Columbia Business Review Ranks Bauknight, Pietras & Stormer as Columbia’s Top Accounting Firm

Bauknight Pietras & Stormer, P.A., which started in 1991 as a four-person accounting practice, has been ranked the No. 1 accounting firm in the Columbia region, according to Columbia Business Review’s annual book of lists [...]

SCACPA Presents: A Free 8-Hour Comprehensive 199A Update Course on Sept. 20

COURSE TITLE: “Complete Coverage of 199A Regulations” REGISTER NOW: SMTX59 – In-Person | LITX59 – Livestream Lynn Nichols, CPA, host of SCACPA’s Federal Tax Update Podcast and presenter for the South Carolina Tax Team, [...]