To protect taxpayers from scams, IRS orders immediate stop to new Employee Retention Credit processing amid surge of questionable claims; concerns from tax pros, aggressive marketing to ineligible applicants highlights unacceptable risk to businesses and the tax system Moratorium on processing of new claims through year’s end will allow IRS to add more safeguards to …
By Karen Davis, EA, MBA, PhD The “Setting Every Community Up for Retirement Enhancement Act of 2020” (SECURE Act) made two significant retirement plan changes starting in 2020 – increasing the age for required minimum distributions from 70½ to 72, and creating a 10-year distribution rule for most beneficiaries. A second major piece of retirement …
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The requirements to become a licensed CPA differ across states, yet CPAs maintain mobility to practice in multiple jurisdictions. How does this work? David Knoble, Chair of the South Carolina Association of CPAs (SCACPA), joins the show to bust myths around substantial equivalency and mobility rules for CPAs, and discuss the SCACPA’s proposed changes to …
SCACPA continues its steadfast commitment to fostering the next generation of Certified Public Accountants. In alignment with its objective to propel promising students into the CPA profession, the SCACPA Educational Fund has awarded a substantial sum in scholarships to students across South Carolina higher institutions this year. For the 2023-24 academic year, the SCACPA Educational …
The compression of the CPA pipeline is an issue of state and national concern. SCACPA and societies in other jurisdictions and national organizations are continuously exploring avenues to relieve the compression and enhance the profession’s attractiveness to would-be CPA candidates and students. To secure tomorrow, we must plan today. Futureproofing our profession means ensuring we …
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