New MICPA Board Officers and Directors, MICPA Career Fair, Security Update for e-Services Users and more

by MICPA | Sep 27, 2016   ()

MICPA Elects New Board Officers and Directors
The MICPA has elected Betsy Meter as chair of its 2016-2017 board of directors and also named other officers and new directors. Meter, of Beverly Hills, is an audit partner with KPMG LLP in Detroit. She had previously served as chair-elect and as board treasurer. A member of the board since 2011, she will serve a one-year term as its chair.

Other officers elected for this year include Alan Young, chair-elect, Robert Johnson, treasurer, and David Echelbarger, secretary. The new directors are Marianne Lilly, Leon LaBrecque, and Laurie Horvath. READ MORE

Students and New Grads: Still Time to Register for MICPA Career Fair
Do you know someone who needs an internship or will be graduating soon?  Students and candidates looking for a job in accounting can connect with employers from across the state at the upcoming MICPA Career Fair from 1-4 p.m. on Sept. 30 at Laurel Manor in Livonia. The event is free, but registration is required. Visit the MICPA website for details, including a list of participating employers.

Michigan Treasury Issues RAB for Construction Sales and Use Tax
Michigan Department of Treasury RAB 2016-18 explains application of the Sales and Use Tax to the construction industry generally, and to contractors specifically. This RAB replaces 1999-2.2. READ MORE

Important Security Update for e-Services Users
One of the highest priorities at the IRS is to protect taxpayer and tax preparer data as well as IRS systems. Starting in October, the IRS will strengthen sign-in procedures for e-Services. As part of that effort, all users must re-register and validate their identities, most using the Secure Access authentication process. READ MORE

IRS Offers Quick Reference Guide for Safeguarding Taxpayer Data
Businesses can download the IRS’s revised Safeguarding Taxpayer Information Quick Reference Guide for Businesses for requirements to safeguard taxpayer information, safeguarding techniques, and data security incidents.

Protect Your Clients: Watch Out for Bogus Tax Bills
The IRS and its Security Summit partners issued an alert to taxpayers and tax professionals to be on the lookout for fake IRS tax bills that may arrive by email, as an attachment, or by mail purportedly related to the Affordable Care Act. READ MORE

Deadline Tomorrow: Expanded Work Opportunity Tax Credit for Employers
With tomorrow’s deadline for certification fast approaching, the IRS urges employers to take advantage of a tax credit designed to help those who hire long-term unemployment recipients, certain veterans, recipients of various kinds of public assistance and other workers who face significant barriers to employment. READ MORE

Reminder for Extension Filers: Prior-Year Adjusted Gross Income May Be Needed to e-File
Do you have a client who filed for an extension and faces an Oct. 17 filing deadline? The adjusted gross income amount from the client’s 2014 return may be needed to electronically file a tax return. READ MORE

New Private Debt Collection Program to Begin Next Spring
Under legislation enacted last year, the IRS will begin using private debt collection agencies to collect certain overdue federal tax debts. The IRS announced the details of the new debt program and the four contractors selected to implement the new program, with a target start date of spring 2017. READ MORE

Streamlined Processing of Installment Agreements
The IRS is testing expanded criteria for streamlined processing of taxpayer requests for installment agreements. The test runs through Sept. 30. During this test, more taxpayers will qualify to have their installment agreement requests processed in a streamlined manner. READ MORE

GASB and FASB Updates
A Governmental Accounting Standards Board proposal published Monday would provide guidance addressing a multitude of issues that have arisen in state and local government financial reporting. The Financial Accounting Standards Board issued an exposure draft that would amend the amortization period for callable debt securities purchased at a premium.

Source: MICPA
Source: MICPA

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