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Tax Relief for Storm Victims, MICPA President's Report, Career Fair and more

by MICPA | Aug 08, 2017   ()

Tax Relief Available for Michigan Storm Victims
Victims of the severe storms and flooding that took place beginning on June 22 in parts of Michigan may qualify for tax relief from the IRS. READ MORE

New Michigan Treasury FAQs Available
Two new FAQs from the Michigan Department of Treasury cover the inheritance tax and taxation of business income for individuals.

August 15 – Deadline to Certify and Pay ESA
The deadline to certify Essential Services Assessment (ESA) statements and make electronic payments is Aug. 15. In each assessment year, eligible claimants of the Eligible Manufacturing Personal Property (EMPP) exemption must electronically revise and certify the completed ESA statement and make full payment. Find more information at michigan.gov/esa

IRS Plans e-Services Outage
The IRS plans an outage of e-Services tools from 6 p.m. Aug. 17 through 6 a.m. Aug. 21. During this period, users will be unable to access the Transcript Delivery System and Secure Object Repository, Registration and TIN Matching. All applications also will be offline until Aug. 22. Affordable Care Act Information Return filers may resume submission of applications for Transmitter Control Codes starting on Aug. 22.

FASB Proposes Improvements to Grant and Contribution Accounting
The Financial Accounting Standards Board (FASB) issued a proposed Accounting Standard Update intended to provide a more robust framework to evaluate and determine if a transaction should be accounted for as a contribution or an exchange. Comments are due by Nov. 1. READ MORE

Just Released: MICPA President’s Report
The 2016-17 MICPA President’s Report offers highlights, important snapshots and benchmarks from a year concentrated on change. READ MORE

Find Your Next New Employee at the MICPA Career Fair
Participate in the MICPA Career Fair on Sept. 29 at Laurel Manor in Livonia to connect with students who are looking to start building their future. The MICPA Career Fair is a great place to showcase career opportunities in your company or firm and reach out to a large pool of candidates focused on jobs and internships in Michigan.

5 Tips to Better Manage Rapidly Changing Enterprise Risks
Executives are aware that the risks businesses face have increased and become more complex in the past five years, but most companies aren’t fully equipped to manage the rapid changes, according to new research. CGMA Magazine discusses the global state of risk and the role finance professionals need to play in this area. READ MORE

Inside Public Accounting Releases Largest Firms List
Inside Public Accounting unveiled its ranking for the nation’s largest accounting firms. The highest-ranking Michigan firm is Plante Moran at #15. What other Michigan firms are featured? Find out here.

Security Summit Alert: Tax Pros Warned of New Scam to Steal Their Passwords
The IRS warns tax pros to be alert to a new phishing email scam impersonating tax software providers and attempting to steal usernames and passwords. READ MORE

Source: MICPA
Source: MICPA

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