MICPA student memberships provide numerous benefits to those seeking a career in accounting and finance. From virtual study groups to networking events, the MICPA offers students the opportunity to forge meaningful relationships and expand their depth of knowledge all before earning their degree and CPA credential. Join us in welcoming our new student members from the month of February as they discover what a an MICPA student membership is all about.
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The American Rescue Plan Act (ARPA) of 2021 included a substantial amount of funding for states and localities, however, due to its provision regarding state tax policies, many legislators and administrators are wary. The MICPA explores the provision in question, what it does and the kind of clarification necessary to prevent tax policy stagnation for the next three years.
The coronavirus spurred many a debate regarding the liability of businesses in ensuring a safe working environment. More than one lawsuit has resulted from unsafe working environments, but are businesses thinking about their insurance coverages? A lot can change in a year, especially in a year like 2020, and its possible those pre-COVID-19 insurance programs you (or your clients) are subscribed to are behind the times.
As different forms of crypto tokenization enter the marketplace and intersect with real-world physical assets, getting the accounting and reporting correct will only become more important.
The month of March is Women’s History Month, focusing on the achievements of women in politics, business and society. The MICPA takes a look at the accomplishments of women, past and present, within the accounting industry.
Small businesses that received a COVID-19 Economic Injury Disaster Loan (EIDL) won’t have to start making payments on the loan until 2022, the U.S. Small Business Administration (SBA) said.
The American Rescue Plan Act (ARPA) of 2021 created and modified several small business relief programs aimed at delivering much needed aid. MICPA board member and chief growth officer of Sequoia Financial Group Leon LaBrecque, JD, CPA, CFP, CFA, breaks down all the significant provisions contained within ARPA as they apply to small business relief.
In a recent notice, the IRS Wage & Investment Division discussed the Centralized Authorization File (CAF) backlog and processing delays. According to the agency, much of the delay is a result of additional resources being used to catch duplicate authorization forms.
News of the next round of stimulus direct payments have many struggling Americans abuzz with relief, but direct payments are only a part of the freshly signed legislation. The MICPA breaks down the various tax components contained within the latest federal COVID-19 relief bill, including changes to the child tax credit and the new partial tax exemption for unemployment benefits received in 2020.
The AICPA has recommended revisions to clarify and update certain aspects of Circular 230, Regulations Governing Practice Before the Internal Revenue Service (31 C.F.R. Part 10), and allow a better understanding of the rules for tax practitioners when they are representing taxpayers before the IRS. The suggestions include that Circular 230 should define applicable jurisdiction in the context of whether OPR has the authority to regulate tax preparation and tax planning practices of federally authorized tax practitioners in light of recent court decisions; updates to reflect the elimination of the registered tax return preparer program; and amendments to reflect current electronic filing and e-signature practices.