WICPA Hot News
- Top 10 tax resources for CPAs
- Check out a list of top 10 tax resources developed by AICPA staff and volunteers to help practitioners save time during the busy season.
- WICPA drives business to firms through Find a CPA ads
- During February, the WICPA will drive business to our members' firms, via wicpa.org/FindaCPA, while promoting the value of using a CPA through radio, print and Web advertising. Listen to the radio spots and get details on our website. List your firm in the Find a CPA directory today!
- New state tax-related bills of interest to CPAs
- Wisconsin bills with tax implications that CPAs should consider include: ASSEMBLY BILL 489: Financial assistance for the livestock premises registration program, a tax credit for livestock identification tags and tag-reading equipment, and making an appropriation ASSEMBLY BILL 496: The property tax exemption for certain housing facilities SENATE BILL 408: A sales and use tax exemption for coins, currency, and commemorative medallions
- Latest tax bulletin released
- Wisconsin Tax Bulletin 174 (January 2012) is available now.
- February IRS news for tax professionals
- The Internal Revenue Service's February news for tax professionals includes information about upcoming nationwide tax forums and preparing for tax season.
- State lawmakers consider bill related to tax credit involving livestock
- CPAs may be interested in Senate Bill 396: Financial assistance for the livestock premises registration program, a tax credit for livestock identification tags and tag-reading equipment, and making an appropriation.
- IRS new fact sheet explains tax benefits
- IRS fact sheet describes 2011 changes that offer tax benefits to almost everyone.
- New list of expiring federal tax provisions now available
- The Joint Committee on Taxation has released its List Of Expiring Federal Tax Provisions 2011-2022.
- Wisconsin lawmakers consider tax related Senate bills
- Wisconsin lawmakers are considering several tax related Senate bills, which may be of interest of CPAs.
- Treasury Offset, State Reciprocal Collection Programs expanded
- The program's expansion allows offsets of all refunds administered by the Department of Revenue (DOR) against federal debts.
- Event to highlight financial programs for small businesses
- Attend the Waukesha County Small Business Leverage Loan Program for updates on Wisconsin financing incentives/programs available to Waukesha County businesses.
- January IRS tax news
- January IRS updates for tax professionals includes webinars about EITC due diligence, preparing for the tax season, return preparers and small business tax compliance priorities.
- IRS issues standard mileage rates for 2012
- The 2012 IRS standard mileage rates for calculating deductible automobile costs for business use, medical or moving purposes and for service to charitable organizations are now available.
- December IRS news for tax professionals
- IRS news for tax professionals includes the latest on tax benefits increases, Earned Income Tax Credit due diligence penalty increases and pension plan limitations for 2012.
- Consider these tax-related issues
- Assembly Bill 392: Eliminating deductions for moving expenses for businesses that move out of the state Senate Bill 302: Increasing the amount of the individual income tax personal exemption for certain older taxpayers, and Senate Bill 303: Creating a preference in state procurement for Wisconsin-based businesses
- IRS preparer compliance program under way
- The Internal Revenue Service is implementing a tax return preparer compliance program. Through the program, the IRS is sending approximately 21,000 letters to preparers it has identified as possibly not being in compliance with their professional responsibilities.
- Obama signs 3 percent withholding tax repeal into law
- President Barack Obama signed on Monday, Nov. 21 a bipartisan bill that repeals the 3 percent Withholding Tax mandate enacted in the Tax Increase Prevention and Reconciliation Act of 2005.
- State lawmakers consider tax-related bills
- Wisconsin CPAs may be interested in the following bills being considered by state lawmakers: Assembly Bill 376: Authorizing the sale or transfer of tax credits in counties with high unemployment Assembly Bill 380: Sales and use tax exemption for building materials used as a part of government or nonprofit organization facitlies. Assembly Bill 381: A sales and use tax exemption for items and services sold as part of a lump sum contract Senate Bill 291: Authorizing the sale or transfer of tax credits in
- Wisconsin simplifies tax law for adult children's health benefits
- On Nov. 4, 2011 Gov. Scott Walker signed legislation that federalizes the Wisconsin income tax treatment of employer-provided health insurance benefits for non-dependent adult children under age 27 on Dec. 31. The law is retroactive for Wisconsin to Jan. 1, 2011.
- Wisconsin lawmakers consider tax-related bills
- Assembly Bill 356: Limiting the corporate income tax deduction for compensation paid to an employee Assembly Bill 357: Claiming the dairy manufacturing facility investment credit in the next taxable year Assembly Bill 358 : Individual and corporate income and franchise tax credit for purchasing and installing a thermal biomass heating system Assembly Bill 359 : An income and franchise tax credit for providing broadband service Assembly Bill 360 : An income and franchise tax credit for lumber
- IRS provides LB&I Schedule UTP guidance
- IRS provides guidance regarding examinations of Form UTP regarding disclosure of uncertain tax positions.
- DRL provides option to print credential online
- Individuals who renew their credential with the Department of Regulations and Licensing online can print their credentials as soon as the department processes the renewal.
- AICPA urges FAF to adopt Blue Ribbon Panel recommendations
- The American Institute of Certified Public Accountants' (AICPA) governing council approved a resolution on Tuesday, Oct. 18 that sends the Financial Accounting Foundation (FAF) a strong message: either FAF moves to adopt the Blue Ribbon Panel on Standard Setting for Private Companies' recommendations for a separate board, which is the AICPA's preference, or the AICPA will consider other options.
- IRS offers resources to assist retirement plan sponsors
- The IRS is offering a new collection of information packages to assist retirement plan sponsors who are drafting or re-drafting plans to conform with applicable law and regulations.
- Legislators introduce tax-related bills
- Click on preceding link to view tax-related bills introduced by lawmakers, include one implementing federal health insurance law changes.
- FAF declines to endorse differential standards, separate board for private companies
- The Financial Accounting Foundation (FAF) is not proposing to create a new independent board to set differences in U.S. GAAP standards, where appropriate, for privately held companies. This was the cornerstone of the Blue Ribbon Panel on Standard Setting for Private Companies' report. The panel consisted of a cross-section of leaders from financial reporting constituencies, including lenders, investors, owners, preparers, and public accountants.
- Publication about tax incentives for homeownership available
- Click here to read the New Joint Committee on Taxation publication regarding tax incentives for homeownership.
- October 2011 IRS news for tax professionals
- IRS issues October updates for tax professionals.
- 2011 tax tables and other inflation adjustments are released
- The Internal Revenue Service has issued updated tax-rate tables and other inflation-adjusted amounts, such as the standard deduction and personal exemption amounts, for taxpayers to use in 2011.