Talking Points for Senior Management Team

January 8, 2025

The NJCPA is encouraging CPAs to attend the New Jersey Chamber of Commerce’s Walk to Washington on Feb. 6 and 7, which is back after a five-year hiatus. If you’re unfamiliar with the event, the Walk to Washington is the best attended and most prestigious annual function in New Jersey business and political circles. In addition to legislators and political players, the event also draws a large number of top business leaders. The NJCPA is sending a 15-member delegation to participate in this exciting two-day networking event that includes a chartered train to and from Washington, DC. Let’s make sure the accounting profession is well-represented with a strong showing of members across the state. More information on this event can be found at https://njchamber.com/events/walk-to-washington.

The Society recently launched the NJCPA Marketplace to help members with all aspects of their business, career and personal life. The Marketplace includes more than 400 companies, with many recommended by accounting professionals and satisfied clients. NJCPA members receive exclusive discounts and perks. Explore the Marketplace at marketplace.njcpa.org.

The NJCPA's Membership+ program provides up to 20 FREE CPE credits to all members. Upcoming events are:

• Heart-Centered Leadership: Following Your Heart One Step at a Time on Jan. 9 and 16 (replay)
• 2025 Finance and Accounting Hiring and Compensation Trends on Jan. 30 and Feb. 3 (replay)
• Keeping an Eye on DEI on Feb. 25 and March 4 (replay)

Review upcoming webinars at njcpa.org/membership-plus.

The Justice Department (DOJ) filed an emergency application with the Supreme Court asking it to stay the district court injunction that is preventing the government from enforcing the Corporate Transparency Act and its requirements to report beneficial ownership information (BOI). The Supreme Court set a deadline of Jan. 10 at 4 p.m. ET for the plaintiffs in the case to respond to the DOJ request. The AICPA posted a statement saying it "advises gathering required information and being ready to file if the injunction is lifted." To learn more about the BOI reporting requirements, visit the NJCPA website and enter "BOI" in the Search field.

In September, the AICPA and NASBA unveiled a proposed alternative pathway to the standard 150-hour requirement for CPA licensure. They are also recommending changes to the Uniform Accountancy Act (UAA). The NJCPA supports an alternative pathway to licensure, but we have fundamental differences with the AICPA/NASBA proposal on how to get there. In mid-November, the NJCPA Board of Trustees submitted a comment letter to the AICPA and NASBA indicating the Society’s intention to introduce legislation in 2025 to add a pathway for licensure that does not require 150 hours of education. Our proposal will include language intended to ensure continued practice mobility for out-of-state CPAs practicing in New Jersey as well as the addition of a licensure pathway requiring passage of the CPA Exam, a baccalaureate degree with an accounting concentration and two years of experience in accounting. Visit the NJCPA website for more information.

January 8, 2025