News

IRS Will Enforce Health Coverage Reporting on 2017 Returns
 

IRS Will Enforce Health Coverage Reporting on 2017 Returns

Posted: October 16, 2017
The IRS updated its page on health care reporting requirements to inform taxpayers and tax practitioners that it will not accept electronically filed 2017 individual income tax returns unless taxpayers indicate that they and everyone on their return had health care coverage, qualified for an exemption from coverage, or will make a shared-responsibility payment (under Sec. 5000A).


e-Services Scam Alert
 

e-Services Scam Alert

Posted: October 11, 2017
The IRS is warning all e-Services users to beware a new phishing scam that tries to trick tax professionals into “signing” a new e-Services user agreement.


IRS Updates Special Per-Diem Rates for Business Travel
 

IRS Updates Special Per-Diem Rates for Business Travel

Posted: October 2, 2017
Business travelers who incur expenses while traveling away from home have new per-diem rates to use in substantiating certain of those expenses. The new rates will be in effect from Oct. 1, 2017, to Sept. 30, 2018.

Five Things I Learned from the NJCPA Bylaws Vote
 

Five Things I Learned from the NJCPA Bylaws Vote

Posted: September 20, 2017
The NJCPA member vote earlier this year to turn down the proposed expansion of the Associate member category to include those who do not hold a CPA license was heard — loud and clear. Please read the letter to see what we learned along the way.

Rules Would Allow Truncated Taxpayer IDs on Forms W-2
 

Rules Would Allow Truncated Taxpayer IDs on Forms W-2

Posted: September 19, 2017
In an effort to reduce identity theft, the IRS has issued proposed regulations that would permit employers to use truncated taxpayer identification numbers on Forms W-2 issued to employees.

 AICPA Campaign Promotes CPA Firms’ Key Role in Advising Small Businesses
 

AICPA Campaign Promotes CPA Firms’ Key Role in Advising Small Businesses

Posted: September 18, 2017
The American Institute of CPAs has launched the latest update of its national #CPApowered campaign, an initiative designed to showcase the strengths of CPA firms as trusted tax and business advisors to consumers and small businesses. The NJCPA is participating in this effort.

CPA Exam Score Extensions to be Case Basis Only
 

CPA Exam Score Extensions to be Case Basis Only

Posted: September 13, 2017
The National Association of State Boards of Accountancy (NASBA) said it would determine any CPA candidate requests for extensions past the 18-month window for passing the Uniform CPA Examination on a case-by-case basis.