CPA Success
CPA Success
http://www.macpa.org/blog/category/13/legislative--regulatory/files/conway_sb817_testimony2.doc?i=63&watch=rss
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blog@macpa.org (CPA Success)
Sun, 06 Mar 2016 09:26:08 GMT
Sun, 06 Mar 2016 09:26:08 GMT
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Prepare NY tax returns? You may need to register
<p><a href="http://cpasuccess.typepad.com/.a/6a00d834520c5769e20120a61f0eca970c-pi"
style="FLOAT: right"><img alt="Newyork" border="0" class="asset asset-image at-xid6a00d834520c5769e20120a61f0eca970c "
src="http://www.macpa.org/blog/resources/assets/175296398.jpg" style="MARGIN: 0px 0px 5px
5px" title="Newyork" /></a> If you provide tax services in New York state, listen up. </p> <p>A new
law passed as part of <a href="http://www.state.ny.us/governor/" target="_blank">Gov. David
Paterson&#39;s</a>&#0160;budget requires all tax preparers who provide tax services in New York to
register with the state. The law provides an exemption for New York CPAs, but out-of-state CPAs
would still be required to register.</p> <p>According to the <a href="http://www.tax.state.ny.us/"
target="_blank">New York State Department of Taxation</a>, tax preparers must pay a $100
registration fee if:</p> <ul> <li>they &quot;were paid to prepare 10 or more New York state tax
returns in 2009 and will prepare at least one personal income tax return in 2010,&quot; or <li>they
&quot;will be paid to prepare 10 or more tax returns for 2010.&quot; </li> </li> </ul> <p>The <a
href="http://www.nysscpa.org/" target="_blank">New York State Society of CPAs</a>&#0160;is
supporting &quot;clean-up&quot; legislation that would exempt *all* CPAs and their staffs from the
requirement. The legislation has been introduced in the New York Assembly as <a
href="http://assembly.state.ny.us/leg/?bn=a8556" target="_blank">A. 8556</a> and in the state Senate
as <a href="http://assembly.state.ny.us/leg/?bn=S05710&amp;sh=t" target="_blank">S.
5710</a>.</p> <p>For the time being, though, out-of-state CPAs are still bound by the requirement,
and <a href="http://www.tax.state.ny.us/tp/tpreg.htm" target="_blank">the state Department of
Taxation is offering details</a> on how to register and pay the $100 fee.</p> <p>Stay tuned.
We&#39;ll update you on progress to exempt out-of-state CPAs as developments warrant.</p><!-Imported Assets -->
http://www.macpa.org/blog/1456/prepare-ny-tax-returns-you-may-need-to-registerbill@macpa.org(Bill Sheridan)
Wed, 07 Oct 2009 15:09:09 GMT
http://www.macpa.org/blog/1456/prepare-ny-tax-returns-you-may-need-to-register-
Prepare NY tax returns? You may need to register
<p><a href="http://cpasuccess.typepad.com/.a/6a00d834520c5769e20120a61f0eca970c-pi"
style="FLOAT: right"><img alt="Newyork" border="0" class="asset asset-image at-xid6a00d834520c5769e20120a61f0eca970c "
src="http://www.macpa.org/blog/resources/assets/175296398.jpg" style="MARGIN: 0px 0px 5px
5px" title="Newyork" /></a> If you provide tax services in New York state, listen up. </p> <p>A new
law passed as part of <a href="http://www.state.ny.us/governor/" target="_blank">Gov. David
Paterson&#39;s</a>&#0160;budget requires all tax preparers who provide tax services in New York to
register with the state. The law provides an exemption for New York CPAs, but out-of-state CPAs
would still be required to register.</p> <p>According to the <a href="http://www.tax.state.ny.us/"
target="_blank">New York State Department of Taxation</a>, tax preparers must pay a $100
registration fee if:</p> <ul> <li>they &quot;were paid to prepare 10 or more New York state tax
returns in 2009 and will prepare at least one personal income tax return in 2010,&quot; or <li>they
&quot;will be paid to prepare 10 or more tax returns for 2010.&quot; </li> </li></ul> <p>The <a
href="http://www.nysscpa.org/" target="_blank">New York State Society of CPAs</a>&#0160;is
supporting &quot;clean-up&quot; legislation that would exempt *all* CPAs and their staffs from the
requirement. The legislation has been introduced in the New York Assembly as <a
href="http://assembly.state.ny.us/leg/?bn=a8556" target="_blank">A. 8556</a> and in the state Senate
as <a href="http://assembly.state.ny.us/leg/?bn=S05710&amp;sh=t" target="_blank">S.
5710</a>.</p> <p>For the time being, though, out-of-state CPAs are still bound by the requirement,
and <a href="http://www.tax.state.ny.us/tp/tpreg.htm" target="_blank">the state Department of
Taxation is offering details</a> on how to register and pay the $100 fee.</p> <p>Stay tuned.
We&#39;ll update you on progress to exempt out-of-state CPAs as developments warrant.</p><!-Imported Assets -->
http://www.macpa.org/blog/2182/prepare-ny-tax-returns-you-may-need-to-registerbill@macpa.org(Bill Sheridan)
Wed, 07 Oct 2009 12:00:00 GMT
http://www.macpa.org/blog/2182/prepare-ny-tax-returns-you-may-need-to-register-
Knowledge of IFRS is no longer optional
<p class="asset asset-image"><a
href="http://cpasuccess.typepad.com/.a/6a00d834520c5769e20120a5ab84b8970b-pi" style="FLOAT:
right"></a><a href="http://cpasuccess.typepad.com/.a/6a00d834520c5769e20120a5ab84b8970b-pi"
style="FLOAT: right"><img alt="Globe" border="0" class="at-xid6a00d834520c5769e20120a5ab84b8970b "
src="http://www.macpa.org/blog/resources/assets/1216749191.jpg" style="MARGIN: 0px 0px 5px
5px" title="Globe" /></a><a href="http://www.cpasuccess.com/2009/09/ifrs-lives-never-doubted-itfor-a-minute.html" target="_blank">The SEC</a> is sold. <a
href="http://www.cpasuccess.com/2009/09/are-we-lost-on-the-road-to-ifrs.html"
target="_blank">Finance executives</a>&#0160;are sold. And now, the AICPA is sold, too.</p>
<p>The topic is <a href="http://www.macpa.org/Content/24579.aspx" target="_blank">international
financial reporting standards</a>. U.S. convergence to IFRS has had a roller coaster year, but it&#39;s
a hot topic again, and getting hotter all the time.</p> <p>The latest development comes from the <a
href="http://www.aicpa.org">AICPA</a>, which has announced that IFRS will be included on the <a
href="http://www.cpa-exam.org" target="_blank">CPA exam</a> beginning on Jan. 1, 2011.</p>
<p>It&#39;s all part of <a href="http://www.cpa-exam.org/lrc/CBTe.html" target="_blank">CBTe</a>. That&#39;s AICPA-speak for &quot;computer-based testing evolution,&quot; and it signifies
the latest changes in CPA exam content and processes. <a
href="http://blog.rogercpareview.com/2009/09/exam-change-announcement-aicpa.html"
target="_blank">Here&#39;s what the folks at Roger CPA Review said</a>&#0160;in breaking the
story:</p> <blockquote> <p><em>&quot;There are two large changes that will have the most impact
on CPA exam candidates. The AICPA announced:</em></p> <ol> <li><em>On Jan. 1, 2011, new
Content and Skill Specification Outlines (CSOs / SSOs) for the Uniform CPA Examination -–
including the testing of International Financial Reporting Standards (IFRS) –- will go into effect.<br
/></em> <li><em>On Jan. 1, 2011, a new release of authoritative literature -– with codified FASB
Accounting Standards –- and a new research task format will be introduced on the CPA
Examination.&quot;</em> </li> </li> </ol> </blockquote> <p>In short, starting in January 2011, if
you want to become a CPA, you&#39;ll have to know IFRS.</p> <p>That might be the strongest
evidence yet that IFRS is here to stay.</p> <p>Sounds like a good time to get caught up on
convergence. You&#39;ll find all the information you need in these MACPA and BLI programs:</p>
<ul> <li>Nov. 11: <a
href="http://www.macpa.org/Public/Catalog/CourseDetails.aspx?courseID=0917W093"
target="_blank">IFRS for Small- and Medium-Sized Entities</a> <li>Dec. 17: <a
href="http://www.macpa.org/Public/Catalog/CourseDetails.aspx?courseID=09111131"
target="_blank">The Impact of IFRS and Other Global Standards on Private Entities</a> <li>Dec. 18:
<a href="http://www.macpa.org/Public/Catalog/CourseDetails.aspx?courseID=09111136A"
target="_blank">International versus U.S. Accounting: What in the World is the Difference?</a> </li>
</li> </li> </ul><!-- Imported Assets -->
http://www.macpa.org/blog/2189/knowledge-of-ifrs-is-no-longer-optional
bill@macpa.org(Bill Sheridan)
Wed, 30 Sep 2009 00:30:00 GMT
http://www.macpa.org/blog/2189/knowledge-of-ifrs-is-no-longer-optional
IFRS lives? Never doubted it for a minute
<p class="asset asset-image"><a
href="http://cpasuccess.typepad.com/.a/6a00d834520c5769e20120a5e63227970c-pi" style="FLOAT:
right"></a><a href="http://cpasuccess.typepad.com/.a/6a00d834520c5769e20120a5e63227970c-pi"
style="FLOAT: right"><img alt="Crystal" border="0" class="at-xid6a00d834520c5769e20120a5e63227970c "
src="http://www.macpa.org/blog/resources/assets/1066034582.jpg" style="MARGIN: 0px 0px 5px
5px" title="Crystal" /></a>We have some pretty smart readers here at CPA Success.</p> <p
class="asset asset-image">I&#39;ll give you an example:&#0160;We took a brief look recently at <a
href="http://www.cpasuccess.com/2009/09/are-we-lost-on-the-road-to-ifrs.html" target="_blank">the
United States&#39; on-again, off-again love affair</a> with international financial reporting standards.
Specifically,&#0160;we wondered why, when nearly 90 percent of finance executives polled in a
Deloitte study believe mandatory IFRS adoption in the U.S. is inevitable, that love affair seemed more
off-again than on-again in recent months.</p> <p>Soon after that post appeared, <a
href="http://www.bizlearning.net" target="_blank">Business Learning Institute</a> instructor,
resident IFRS expert and <a href="http://www.petermargaritis.com/"
target="_blank">&quot;Accidental Accountant&quot;</a> Peter Margaritis posted a comment that
read as follows:</p> <p dir="ltr" style="MARGIN-RIGHT: 0px">&quot;I believe that IFRS is not
dead and in the next 30-60 days the SEC is going to comment on the roadmap. One of the reasons that
the SEC has been quiet on the IFRS issue is that a full-time chief accountant had not been appointed.
However, on Aug. 25 Mary Schapiro named James Kroeker as the new chief accountant. That hurtle
has been cleared. But what changes will the SEC make to the current roadmap? Will they extend the
mandatory implementation dates to 2016, 2017 and 2018, or further? Will they keep the current
roadmap but drop the &#39;vote&#39; in 2011? It is hard to say at this point and we will have to wait
and see. The Deloitte study should be an excellent indicator that the adoption of IFRS in the U.S. is
inevitable.&quot;</p> <p>Sure enough, just a day later Kroeker told an audience at a New York
Society of CPAs conference in New York that &quot;turning back to the roadmap will be an important
priority for us this fall.&quot; <a
href="http://www.reuters.com/article/ousivMolt/idUSTRE58G4BJ20090917"
target="_blank">Here&#39;s a recap of Kroeker&#39;s comments</a> from Reuters reporter Emily
Chasan:</p> <blockquote dir="ltr"> <p><em>Last November, in one of the last major projects of the
SEC under former Chairman Christopher Cox, the SEC staff released a proposed roadmap that would
have U.S. companies filing financial results under international financial reporting standards, or IFRS,
by 2014, with the option for some companies to adopt the rules earlier.</em></p> <p><em>Kroeker,
who took up his post last month, said on Thursday that in the more than 200 comment letters the SEC
has received on the proposal, it was &quot;resoundingly clear&quot; that people agree there should be
a single set of global high-quality accounting standards, but there were striking differences in how
different groups wanted to accomplish that goal.</em></p> <p><em>Kroeker said the SEC staff, as
&quot;an important next step,&quot; would work on how to put into place various pillars and
milestones to reach that goal.</em></p></blockquote> <p>Nice call, Peter! Now, does anyone want to
take a shot at one-upping him? Let us know what <em>you</em> think the SEC is going to do this fall
on the IFRS front.</p> <p>And don&#39;t forget: You&#39;ll find the latest details on IFRS at the
following MACPA programs:</p> <ul> <li>Dec. 17: <a
href="http://www.macpa.org/Public/Catalog/CourseDetails.aspx?courseID=09111131"
target="_blank">The Impact of IFRS and Other Global Standards on Private Entities</a> <li>Dec. 18:
<a href="http://www.macpa.org/Public/Catalog/CourseDetails.aspx?courseID=09111136A"
target="_blank">International versus U.S. Accounting: What in the World is the Difference?</a> </li>
</li> </ul><!-- Imported Assets -->
http://www.macpa.org/blog/2197/ifrs-lives-never-doubted-it-for-a-minute
bill@macpa.org(Bill Sheridan)
Wed, 23 Sep 2009 08:00:00 GMT
http://www.macpa.org/blog/2197/ifrs-lives-never-doubted-it-for-a-minute
Maryland's economic hits just keep on coming
<p><a href="http://cpasuccess.typepad.com/.a/6a00d834520c5769e20120a58025fd970b-pi"
style="FLOAT: right"><img alt="Belt" border="0" class="at-xid6a00d834520c5769e20120a58025fd970b " src="http://www.macpa.org/blog/resources/assets/817924757.jpg" style="MARGIN: 0px 0px 5px 5px" title="Belt" /></a> I&#0160;hate to sound like a
broken record, but Maryland&#39;s finances are bad ... and getting worse by the minute.</p> <p>This
summer saw <a href="http://www.governor.maryland.gov/" target="_blank">Gov. Martin
O&#39;Malley</a> announce budget cuts of <a href="http://www.cpasuccess.com/2009/07/marylandbudget-from-bad-to-worse.html" target="_blank">$280 million</a> and <a
href="http://www.cpasuccess.com/2009/08/for-cpas-budgetary-call-to-arms-grows-louder.html"
target="_blank">$454 million</a>.</p> <p>Autumn is off to a rockin&#39; start, too. O&#39;Malley
is saying he might have to propose <a
href="http://www.baltimoresun.com/news/maryland/politics/bal-md.cuts17sep17,0,6912678.story"
target="_blank">another $300 million in cuts</a> to help offset <a
href="http://baltimore.bizjournals.com/baltimore/stories/2009/09/14/daily50.html" target="_blank">an
estimated $683 million shortfall in state revenue</a>.</p> <p>The scary thing is this: It could have
been even worse. Some experts are saying that, without federal economic recovery funds, the budget
situation in many states could be much, much worse.</p> <p>But that doesn&#39;t change the fact
that Maryland is hurting ... and <em>that</em> fact should create a <em>very</em> interesting <a
href="http://mlis.state.md.us/" target="_blank">General Assembly</a> session come January.</p>
<p>Gear up, CPAs. You can do so by learning as much as possible at the following events:</p> <ul>
<li><a href="http://www.macpa.org/Content/23456.aspx" target="_blank">MACPA professional
issues updates / town hall meetings</a> <li><a
href="http://www.macpa.org/Content/Training/Conferences.aspx" target="_blank">Advanced Tax
Institute</a>, Nov. 2-6 <li><a
href="http://www.macpa.org/Public/Catalog/CourseDetails.aspx?courseID=10181000"
target="_blank">CPA Day in Annapolis</a>, Jan. 20</li> </li></li></ul> <p>Remember -- our
lawmakers are going to need guidance as they try to fix the state&#39;s finances. CPAs can provide
that guidance. <a href="http://www.macpa.org/Content/16176.aspx" target="_blank">Get involved
now.</a></p><!-- Imported Assets -->
http://www.macpa.org/blog/2200/marylands-economic-hits-just-keep-on-coming
bill@macpa.org(Bill Sheridan)
Fri, 18 Sep 2009 14:50:35 GMT
http://www.macpa.org/blog/2200/marylands-economic-hits-just-keep-on-coming