The State of Financial Literacy in 2022

Recent studies indicate that despite recent progress toward making personal finance a requirement in public education, most Americans are still struggling to build strong financial foundations. Throughout the month of April, join the MICPA as we explore the current state of Financial Literacy, from policy initiatives and progress to emerging issues and member insights.

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Scholarships Open Right Now, That You Can Apply for Right Now!

Finding additional funding for college is something many students struggle with but knowing where to start is half the battle. That’s why the MICPA has put together this list of scholarship opportunities still available for application, but don’t delay – some of these applications close tonight at 8:59 p.m. EST!

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DUNS Transition to UEI Extended 16 Months to April 2022

The Data Universal Number System (DUNS) number was originally due for replacement by the end of 2020. Due to recent events, however, the transition from DUNS to the new Unique Entity Identifier number has been extended to Apr. 2022. Find out how this transition is set to take place within the System for Award Management ( and what other new protocols within are already underway.

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News Finance

MICPA Goes With the Flow-Through in New Roundtable

Last week, the MICPA hosted a roundtable discussing the ins and outs of the new Michigan Flow-Through Entity (FTE) tax and its immediate impacts to taxpayers in 2022. MICPA State and Local Tax Experts Michael Merkel, Plante Moran, and John Eardley, Crowe, offered guidance and answered your burning questions about the FTE tax. If you missed it, here’s your chance to catch up, quick…

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Positioning Against Emerging Risks in Realtime

In the midst of world changing events, existing areas of risk are further exacerbated by rising costs and geopolitical unrest. The MICPA breaks down two major factors at play in the current environment and what financial advisors can do to position themselves and their clients to withstand both.

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Finding a Mentor

Mentors provide practical advice, support and encouragement, but most college students are missing out on this pivotal relationship, according to Katie Farah, 2021 MICPA Student Champion of the Year, accounting intern and graduate student at Walsh college. If you’re one of those students without a mentor, Katie shares four ways to find one!

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Michigan Association of CPAs Advocates for Businesses and Practitioners on Schedules K-2, K-3

Last week, the AICPA and 52 state CPA societies sent a letter to Assistant Treasury Secretary Lily Batchelder and IRS Commissioner Charles Rettig regarding widespread concerns on the Schedules K-2 and K-3 reporting.

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New Study Sheds Light on Accounting Image Among Students

A recent study published by the Center for Audit Quality (CAQ) examines the attitudes of high school and college students toward accounting. Find out what challenges this new data indicates for the profession, and what factors staff and faculty can focus on right now to address misconceptions and expand the CPA pipeline.

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AICPA Comments on Recent IRS Statement: ‘We Believe That There Is More They Can Do’

Following calls by the Tax Professionals United for Taxpayer Relief Coalition, and members of both the Senate and the House for the Internal Revenue Service (IRS) to provide meaningful relief to taxpayers ahead of this tax filing season, the IRS announced today its intention to stop some notices to taxpayers as they increase resources to process backlogged files. The American Institute of CPAs (AICPA) believes this action is a positive first step, but believes that more should be and could be done by the IRS, without the need for congressional action, to reduce erroneous automated notices and unnecessary taxpayer contact with the Service.

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Gov. Whitmer Lays Out New Tax Proposals in Latest Address

Last week, Gov. Gretchen Whitmer delivered her last State of the State address of her first term, ahead of the coming election season. Included in her addressed were three proposals regarding changes to both the MI earned income tax credit and the pension tax and proposal for a new electric vehicle proposal. The MICPA unpacks each provision as well as current legislation in the Senate aimed to cut individual and corporate tax rates.

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