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New Scam on Tax Professionals, The MICPA CPE Tracker, New CGMA Tool and more

by MICPA | Feb 21, 2017   ()

Tax Professionals Warned of New Scam to “Unlock” Tax Software Accounts
The Michigan Department of Treasury, IRS and the tax industry warned tax professionals about a new phishing email scam impersonating software providers. The scam email comes with the subject line, “Access Locked.” It tells recipients that access to their tax prep software accounts has been “suspended due to errors in your security details.” The scam email asks the tax professional to address the issue by using an “unlock” link provided in the email. However, the link will take the tax professional to a fake web page, where they are asked to enter their user name and password. READ MORE

Protect Your Clients, Protect Yourself
Tax practitioners who missed the IRS webinar, “Protect your Clients, Protect Yourself from Data Theft,” can view it on demand. In the broadcast, IRS and private sector experts discuss client data safeguards, legal requirements and best practices involving the handling of taxpayer data and tips for responding to a loss of taxpayer data. READ MORE

Michigan Treasury Protects Taxpayers from Tax-Related Identity Theft
In an effort to protect Michigan taxpayers, the Michigan Department of Treasury continues to implement security measures to stop tax-related identity theft.

If an individual income tax return has been selected for identity confirmation, the taxpayer will receive a letter from Treasury asking them to confirm their identity by completing a short online quiz. After confirmation of passing the quiz, tax refunds will be issued between 14 and 21 days. Some taxpayers may be asked to submit paperwork to confirm their identity. READ MORE

It’s a CPE Reporting Year: State Recommends MICPA Tracker
The MICPA CPE Tracker might be your new BFF as you prepare for CPE reporting during the CPA license renewal process this year. As reported last month in E-News, the Michigan Department of Licensing and Regulatory Affairs announced that a streamlined license renewal process will be 100 percent online this year. The Department indicated the MICPA CPE Tracker is an essential part of that process, since CPAs will simply provide their Tracker code during online renewal. Log in to update your Tracker or set up a new account here. Review CPE requirements online.

ACA Silent Returns and the Current Tax Filing Season
The IRS will continue to allow electronic and paper 1040 returns to be accepted for processing in instances where a taxpayer doesn’t indicate their health insurance coverage status. However, legislative provisions of the ACA law are still in force unless changed by Congress, and taxpayers remain required to follow the law and pay what they may owe‎. Keep up-to-date on the latest ACA news by visiting the IRS’s ACA Information Center for Tax Professionals page.

New CGMA Tool – Implementing an Effective Corporate Ethics Policy
Businesses that want long-term success must embed ethical considerations into strategy and performance measurement. This interactive tool will help you implement an effective corporate ethics policy for your organization.

Stay Up-to-Date on Revised Code of Professional Conduct
Earn two ethics credits and learn about recent revisions to the AICPA Code of Professional Conduct in this MICPA webcast: “AICPA Code: Ethics in Practice” from 1-3 p.m. on Mar. 8.

PCAOB Issues Guidance on Audit Participant Reporting on Form AP
The Public Company Accounting Oversight Board issued staff guidance on Form AP, Auditor Reporting of Certain Audit Participants and related voluntary audit report disclosure under AS 3101, Reports on Audited Financial Statements.

5 Ways to Be an Indispensable Accountant in 2017
If you ask 100 company leaders the definition of a good employee, you can expect 100 different responses. Despite this, one thing is certain: qualified employees are indispensable. Companies are always looking for the best and brightest to carry it through positive growth. So, how do you become that employee? AccountingWEB offers five tips for setting yourself apart. READ MORE (Free registration required)

Source: MICPA
Source: MICPA

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