Philip Whitman, CPA, CEPA

My latest newsletter provides advice on applying the AICPA Code of Professional Conduct and staying current with changes. See https://lnkd.in/egXEp3kp. #ethics #aicpa #code

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🚨 Compliance Alert! 🚨 Attention all taxpayers! 📣 For forms 1601C, 0619E, and 0619F make sure to submit them on or before May 10. 1701Q + SAWT on May 15 and 1702Q + SAWT on May 30. Timely compliance is key! Mark those calendars and keep your records in check. 💼✅ Stay compliant and avoid penalties. Your financial responsibility is our priority! #TaxCompliance #ARQSMEBDC #StayOnTrack 📊📅

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Join John D'Amico, CPA, Managing Director, CBIZ Marks Paneth, and Shareholder, Mayer Hoffman McCann P.C., at the "Governmental Accounting & Auditing Conference" by New Jersey Society of CPAs on Wednesday, July 17. This webinar takes an in-depth look at governmental accounting and auditing to help you effectively implement current and new statements from the GASB, overcome implementation issues, enact changes in single audits, comply with local government regulations and circumvent fraud in your organization. John will present during the "Single Audit Update" session to discuss the recent changes: https://okt.to/XLbuNv #singleaudit #webinar #GASB #audit

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Tune in to CLA’s annual R&D tax credit update for an overview of the rules, procedural updates, proposed changes to the R& D tax credit form, and hot topic IRC Section 174. https://hubs.li/Q02yql-s0

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Unlock the secrets of state tax reporting with Brock Sorensen and Robert Beck, Esq.. From Connecticut to California, each state presents its own set of challenges. Join our webinar for expert guidance. https://lnkd.in/eQvurjbp

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🔔New Client Alert: "IRS and Treasury Release Guidance on Educational Assistance Programs," authored by Tripp VanderWal, Brett Liefbroer, and Nathan Caverly! On June 17, 2024, the IRS and Treasury issued frequently asked questions (FAQs) in FS-2024-22 regarding Educational Assistance Programs. The FAQs provide guidance to taxpayers and clarify the rules surrounding tax-free educational assistance benefits for student loan payments. Read the full article 👉 https://ow.ly/wtGe50SoHJZ

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Automation tools are great but have limits. Can a tool fully understand the nuances and unique processes of your company like an experienced audit partner? https://lnkd.in/gWV_Y44f #SOC #ITaudit #experts #compliance

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...and IRS FAQ25 highlights some continuing technical issues with certification at the QAAMS portal: After a QI completes the periodic certification and reviews its responses prior to submission to the IRS, a QI may experience the below scenarios. Part I.E [Part 1, Step 2 in QAAMS]: 1. When reviewing Part 1, a QI that has not created a consolidated compliance group (CCG) may see the question: “Did each member of the consolidated compliance program group consent to make QI its agent for execution of a Form 872 on behalf of the member under section 10.02(B) of the QI agreement?” Please note this question is not required for QIs that are not a Compliance QI. Part II.B [Part 2, Step 2 in QAAMS] 2. When reviewing Part 2, a QI that has completed a qualified certification may not see the question and responses in Part II.B [Part 2, Step 2 in QAAMS]. Please note that the answers to these questions were captured by the system and are viewable to the QI Team after the periodic certification is submitted. [Part 8, Step 2 “Additional Information” in QAAMS] 3. A QI, requesting a waiver of the periodic review requirement, may be navigated from Part 3 to Part 8, Step 2, when reviewing its responses prior to submission. If this occurs, a QI can select the back button on Part 8, Step 2, to proceed to Part 8, Step 1, and review its Appendix III responses prior to submission of the periodic certification. Part VII [Part VII in QAAMS] 4. A QI, requesting a waiver of the periodic review requirement, may also see the option to select Part 7 on the progress bar prior to submitting its periodic certification. Please note that QIs requesting a waiver are not required to complete Part 7. Part VII.H [Part 7 Step 8 in QAAMS] 5. A QI that has completed Part 7 may not see the responses in Part VII.H [Part 7, Step 8, in QAAMS] when reviewing its responses prior to submission. Please note that the answers to these questions are captured by the system and will be viewable to the QI Team. Replacement Characters 6. When completing and reviewing the certification a QI may encounter a replacement character ( � ). This character is appearing in place of the § (section) symbol that is used in the certification to reference a section of a regulation or other citation. AQAI will be engaging with the IRS to discuss how and when these issues could be resolved. #tax #withholdingtax #qi #regulatorycompliance

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How are your practice profits taxed and what is changing? Is your practice payroll tax audit ready? Now in its ninth year, the General Practitioner Industry study assists many practices in understanding their key performance metrics to keep ahead of the competition. The report provides a comprehensive analysis of the business changes in the general practice sector over the past 12 months, including what challenges practice owners are faced with and their opportunities for the future. View the report 👉 https://lnkd.in/g9aivbgt

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Another reason to join us at the American Catalog Mailers Association (ACMA) Forum May 21-23 is to learn from industry leaders about crucial topics and impactful developments related to your #catalog business. This includes a recent lawsuit against a New York tax regulation and many other significant issues. For more details, you can view the full article here: https://lnkd.in/dWx7xQrg #Arandell #ACMA #Print #Marketing

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There are #tax considerations when adding a new partner to a #partnership. Read our blog post for two issues to consider. https://lnkd.in/e9EysePi

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Is there special reporting for entities owned by exempt entities? https://lnkd.in/g_r69Chc Exempt Entities Defined: Exempt entities include banks, credit unions, registered securities issuers, insurance companies, public accounting firms, state-regulated public utilities, and tax-exempt organizations. These entities are not required to report beneficial ownership information to FinCEN due to existing regulatory oversight. Special Reporting Rules: If a reporting company is owned entirely through exempt entities, it only needs to report the names of these entities instead of the beneficial owners' personal information. Example Application: For instance, if a reporting company is 50% owned by an exempt large operating company, and an individual indirectly owns 25% of the reporting company through this exempt entity, the company reports the name of the large operating company rather than the individual's details. Continue reading: https://lnkd.in/g_r69Chc #Banking #SecuritiesIssuer #Insurance #PublicAccounting #PublicUtilities #FinancialMarket #TaxExempt #IRS #BOISpecialRules #ExemptEntity #Reporting #TransparentReporting #RegulatoryCompliance #Reporting #EntityOwnership #FinancialStabilityCouncil #Transparency #CTA #CorporateTransparencyAct #BOI #BOIR #AML #FinCEN #BeneficialOwnership #KYC

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Transform your approach to the SEC’s Climate Disclosure Rules with actionable insights from our 5/1 webcast. Join BDO and @BTLawNews professionals as they share streamlined reporting strategies: https://bit.ly/4aHGEau #ESG #ClimateDisclosureRules

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Tolley's Corporation Tax unites legislation, case law, and ancillary material together with corporation tax compliance, planning, and agreeing liabilities. It includes the law and practice for at least the last 4 years and over 50 worked examples are included to clarify complex points. Gain this understanding on TolleyLibrary: https://ow.ly/yJQ950RjE6S #Tax #CorporationTax #Tolley

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Tolley's Corporation Tax unites legislation, case law, and ancillary material together with corporation tax compliance, planning, and agreeing liabilities. It includes the law and practice for at least the last 4 years and over 50 worked examples are included to clarify complex points. Gain this understanding on TolleyLibrary: https://ow.ly/yJQ950RjE6S #Tax #CorporationTax #Tolley

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