#2017MICPATaxTeam, Tax Call In Show, ACA Issues Explained and more

by MICPA | Mar 21, 2017   ()

Tax Reform News Digest at
Talk of tax reform is everywhere in the news—literally everywhere. Trying to keep up with every aspect and angle of what tax reform might contain and how it could affect your business has been an all-day task. Until now, that is. Go here to scan tax reform articles and videos that cover every slant and perspective of this complex issue. 

MICPA Members Help Detroit Area Residents with Tax Questions
MICPA members provided tax help for Detroit area residents Monday morning in a WDIV Local 4 “Help Me Hank” segment. Calls flooded in for the entire hour and a half, answered expertly by AMDG Financial’s Wayne Titus and Michele Ledford, Robert Half's Lorena Bencsik, MICPA Controller Eric Lynn as well as MICPA Board Member and The Henry Group’s Jamie Lopiccolo. In this video, Lopiccolo tells WDIV’s Hank Winchester the best place to find a reputable CPA is to visit

ACA Issues Explained
Intrinsic to any tax reform that might happen this year, revisions to the Affordable Care Act (ACA) are heading for a vote in the U.S. House of Representatives soon. MICPA Board Member Leon LaBrecque describes the economic landscape in the following video.

Tax Pros: Extra Staff Available Starting Today to Revalidate Your Identity
E-Services registration accounts were suspended for tax professionals who received Letter 5903 and failed to revalidate their identities within the required 30-day time period. Starting today through Friday, Mar. 24, the IRS e-Services Help Desk will have additional staff available to assist only tax professionals who need to revalidate their identity to have their e-Services registration account reinstated. READ MORE

Michigan Treasury: Taxpayers Can Check State Refund Status Online
Michiganders can check the status of their refund online by going to Individuals who e-filed can check their refund status two weeks from the date confirmation was received that the state return was accepted. The status of paper-filed tax returns can be viewed from four to six weeks after postmarking. READ MORE

IRS Adopts New Offer in Compromise Policy
The IRS updated its policy that covers Offer in Compromise‎ applications. Applications will now be returned without consideration in instances where the taxpayer has not filed all required tax returns. In such cases, the application fee will be returned and any required initial payment submitted with the Offer will be applied to outstanding tax debt. This update is reflected on the Offer in Compromise page on and the newly updated Offer in Compromise Booklet (Form 656-B) available March 27.

Why the ACA Executive Order Doesn't Void the Rules for CPAs
The IRS response to a presidential executive order concerning the Affordable Care Act has created some uncertainty about whether tax returns need to include ACA information. AICPA tax leaders outline legal and ethical issues for CPAs to consider in an AICPA Insights article. READ MORE

IRS Warns of Last-Minute Email Scams
The IRS last week warned both tax professionals and taxpayers of last-minute phishing email scams, especially those requesting last-minute deposit changes for refunds or account updates. READ MORE

GASB Issues Omnibus Statement Addressing Range of Accounting Issues
The Governmental Accounting Standards Board (GASB) issued guidance Monday addressing several different accounting and financial reporting issues identified during the implementation and application of certain GASB pronouncements. READ MORE

New Report on the State of Enterprise Risk Management
Organizations of all types face an ever-increasing array of risks that may significantly affect their strategic success. A new research report offers insights from more than 400 senior finance executives on the current state of risk management processes and serves as a resource to help organizations benchmark their approach to risk oversight against current practices. READ MORE

6 Disruptive Forces for Boards to Tackle
CGMA Magazine outlines six change factors boards should focus on to help them address technological advances, geopolitical developments and a changing workforce. READ MORE

Data Analytics: New Ways for Internal Auditors to Apply Their Skills
Data analytics are offering new tools for internal auditors, who may have to take a more forward-looking approach to continue providing value to the organizations they serve, reports CGMA Magazine. Most chief audit executives anticipate changes in internal auditing processes, but many are concerned about the transition, research shows. READ MORE

Source: MICPA
Source: MICPA

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