VoterVoice, Identity Confirmation Quiz, New Partnership Audit Rules, and more

by MICPA | Mar 15, 2016   ()

MICPA Launches New Advocacy Platform, VoterVoice
Now live on the MICPA website is VoterVoice – a new way for members to stay abreast of hot issues and get involved in the profession’s advocacy efforts. Handy tools allow you to look up your state and federal elected officials, learn about legislation affecting CPAs, and take part in campaigns that impact you and your clients and employers. For more information, visit VoterVoice or call Shane Barry in the Government Relations department at 248.267.3710.

Michigan Treasury Adds Security With “Identity Confirmation Quiz”
The Michigan Department of Treasury has increased security measures to protect taxpayers and the state from tax-related identity theft. If an income tax return is selected for identity confirmation, the taxpayer will receive a letter from the Department asking them to confirm their identity by completing a short online quiz.

Consumer Alert: Scammers Change Tactics, Once Again
Aggressive and threatening phone calls by criminals impersonating IRS agents remain a major threat to taxpayers, but now the IRS is receiving new reports of scammers calling under the guise of verifying tax return information over the phone. Read More

IRS Requests Comments on New Partnership Audit Rules
The IRS seeks comments on several issues related to new rules for partnership audits that were passed by Congress last year to replace the long-standing TEFRA audit regime. The deadline for comments is April 15, 2016, but the AICPA requested an extension. Learn more in this article in The Tax Adviser. Read More

Individual Taxes: A Rundown on Recent Developments
A large number of cases, rulings and regulations have been issued recently that affect individual taxpayers. This Tax Adviser article keeps you up to date on these significant developments. Read More

Why Hiring Workers With Disabilities is Good for Business
Successful organizations are quick to recognize that providing equal opportunities to people with disabilities is the right thing to do and that it can provide business benefits such as higher retention rates, increased brand value and higher employee engagement. Read the compelling arguments from four powerful companies, including E&Y in this Huffington Post article. Read More

FASB Updates
The Financial Accounting Standards Board recently issued the following standards updates:  2016-04 on extinguishment of liabilities; 2016-05 on the effect of derivative contract novations; 2016-06 on contingent put and call options in debt instruments.

Source: MICPA
Source: MICPA

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