E-News - March 19, 2019 - Treasury Protecting Taxpayers from Losing Refunds, Plan Now to Attend the Spring Members Advisory Symposium, and more

by MICPA | Mar 20, 2019   ()

Treasury Protecting Taxpayers from Losing Refunds
Some Michigan taxpayers who file a state income tax return may receive a letter from the Michigan Department of Treasury asking for more information to confirm their identity. The letters are a result of the Department’s efforts to protect individuals from cybercriminals, who attempt to file state income tax returns on behalf of unsuspecting taxpayers and steal refunds. After a taxpayer confirms his or her identity by taking a short online quiz or submitting paperwork, the tax refund will be issued in about a month.
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Plan Now to Attend the Spring Members Advisory Symposium
Mark your calendar now for the not-to-be missed MICPA Spring Members Advisory Symposium on May 8 at Laurel Manor in Livonia.

ESA Topic Updated
The ESA Topic on Boards of Review has been updated to address questions received by the Michigan Department of Treasury. A copy of the updated Topic is available on the ESA website.
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Sec. 199A Podcasts You’ll Want to Hear
With tax filing season well underway, you are likely getting questions regarding the Section 199A qualified business income deduction. Find answers by listening to recent episodes from the Personal Financial Planning podcast:  “The reality of Section 199A this tax season” and “What does Section 199A mean for retirement plans?”

A Note to CFOs: Don’t Report History. Write it.
There is a real and present need for today’s CFOs to transform the finance function to become true partners to the business. Ash Noah CPA, CGMA, shares how this can be done with an investment in technology and skills.
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Podcast: The New CFO Mandate
What does the future hold for CFOs? To explore that question, Ankur Agrawal, a partner in McKinsey & Co.’s New York office, discusses a recent survey report about the state of finance in this new podcast from FM magazine. The survey of CFOs and other C-suite executives found that while the CFO role is growing rapidly and finance chiefs are leading transformational change, there is still a perception gap between finance and the rest of the company.

Preparing for the Future: Four Female Thought Leaders Share Insight
Profession and thought leaders Kim Drumgo, Kimberly Ellison-Taylor, CPA, CGMA; Amy Radin, MBA; and Clar Rosso, MA; share valuable insight on the skills that drive success in a time where finance and accounting are being fueled by new technology.
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Flip or Flop: Construction Industry Revenue Recognition Issues
Unfortunately, the revenue recognition standard isn’t going to easily resolve itself in an hour like things do in a reality home makeover show. But it won’t take you even close to an hour to read this boiled-down overview of key considerations for those working in and with the construction industry.
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IRS Is Hiring
The IRS Large Business and International Division (LB&I) plans to fill nearly 300 positions that are open through March 22. Open positions include revenue agent, computer audit specialist, tax law specialist, competent authority analyst, appraiser, management and program analyst, information technology specialists and senior budget analyst. Visit the IRS welcome page on USAJOBS and enter “Large Business and International” as keywords. Information on applying for positions on USAJOBS is available on the site’s Help Center. Learn more about IRS job descriptions and career paths on the IRS Careers website.
IRS Careers

Annual ‘Dirty Dozen’ List of Most Prevalent Tax Scams
The IRS kicked off its annual “Dirty Dozen” list of common tax scams and warned of the ongoing threat of internet phishing scams that lead to tax-related fraud and identity theft. Review all of the 2019 “Dirty Dozen” scams online.
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Source: MICPA
Source: MICPA

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