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We did it. H.R.7010 Paycheck Protection Program Flexibility Act of 2020 was officially passed. NCCPAP was instrumental at every stage of the process. We pointed out the issues with the PPP, wrote letters to the appropriate decision makers at the SBA and within our government, made arguments with specific suggestions, stayed on top of this, and made a difference. That's what NCCPAP advocacy is about and why we're so proud to be members of an organization that takes action—to support taxpayers and right the wrongs of unintended consequences. #New
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Paycheck Protection Program Flexibility Act of 2020 On May 28, 2020, the United States House of Representatives passed H.R.7010, the Paycheck Protection Program Flexibility Act of 2020, by a vote of 417-1. The National Conference of CPA Practitioners announces its support of this legislation. When the CARES Act was passed in March, many of its provisions were designed to assist the small business owner; however, they were written vaguely and became subject to interpretation by the U.S. Department of the Treasury in a way unintended by the legislation. Other aspects did not fully take into consideration the effects of the economic shutdown across the country. ...
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Normally, May is the time where the NCCPAP (National Conference of CPA Practitioners) Board of Directors, Tax Committee, and other members go to Washington, D.C. Their purpose is to meet with members of Congress, the IRS, U.S. Department of the Treasury, and others who create the laws, and the interpretation of those law, that affect taxpayers. It is a highlight of the year, involving a twelve-month-long process to set an agenda, select those government representatives to visit, match NCCPAP members with them, and confirm in-person meetings. This year, NCCPAP will organize a small group of its members and likely visit Capitol Hill in the fall. In the meantime, ...
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May 14, 2020— Dear Senators Grassley and Wyden: The National Conference of CPA Practitioners (NCCPAP) wishes to express its appreciation for the efforts of you and your colleagues in the United States Senate to help small businesses across the country during the current COVID-19 pandemic. At this time, we want to give our support to S.3612, the “Small Business Expense Protection Act of 2020.” It is clear to us that when the CARES Act (H.R.748) was passed, the intent was to provide assistance to small businesses and their owners once they were able to restart their operations. On April 30, the IRS issued Notice 2020-32 stating that businesses participating ...
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April 22, 2020— Dear Secretary Mnuchin & Administrator Carranza: As the current economic situation has developed, another action was taken by Congress to create the Paycheck Protection Program (PPP). This program was designed to assist small businesses in retaining their employees during the crisis by providing business owners with funds to be able to retain and pay their employees while their businesses were affected by the current situation. As you are aware, the funds allocated for this program were completely expended in a very short period of time, and only a small portion of businesses that applied were approved. A number of larger business entities ...
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April 9, 2020— Dear Secretary Mnuchin & Administrator Carranza: When the current economic crisis hit the United States last month, Congress moved as quickly as possible to provide assistance to small businesses across the country, recognizing that small businesses are the backbone of our country and our economy. Yes, we do have large, multi-state, multi-national business entities today, but they all have one thing in common: when they first started their business enterprise, they were a small business. Whether those enterprises were established to develop a new product or make improvements on an existing product or industry, they were small businesses. ...
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Topics Include: Update from Commissioner Rettig and COVID-19 Compliance Issues Immediate Past President and current Tax Chair, Stephen Mankowski, CPA, recently attended the March 2020 IRS NPL meeting. Bookmark this IRS Page for Ongoing Updates Regarding Coronavirus Tax Relief Update from Commissioner Rettig The IRS is experiencing similar concerns as we are, plus they are a vital component at this time. In addition, they will also be responsible to pay out the stimulus payments from the recently passed COVID-19 emergency bill. The IRS has over 30,000 workers telecommuting at this time. While 50% attendance is required at the IRS call centers, some centers ...
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I read in a TaxProToday posting that Treas Dept, IRS, and Labor Dept indicated that there is a refundable payroll tax credit to reimburse companies "dollar for dollar" for the cost of providing coronavirus leave to employees.  How does one file for these credits? Part of 941? Is here a new form to apply for this credit?  Steven Moss
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March 24, 2020—The National Conference of CPA Practitioners (NCCPAP) is quite pleased with Treasury Secretary Steven Mnuchin’s response to our letter calling for an extension to the tax deadline. On Friday, March 20, the U.S. Department of the Treasury responded to further requests, from NCCPAP and others, by revising their initial decision and extending the deadline for both filing and payment of taxes to July 15, 2020. “While we urged an October deadline, granting the extension to July is a very reasonable decision by the U.S. Department of the Treasury,” states Neil H. Fishman, CPA, CFE, FCPA, CAMS and President of NCCPAP, “It is now time for the various ...
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March 19, 2020— Dear Mr. Secretary: With regard to the release of Notice 2020-17, ‘Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic’, I am certain that by now your office has received thousands of letters, e-mails and phone calls from CPAs, EAs, attorneys and other tax return professionals. The action taken by the U.S. Department of the Treasury with respect to the preparation and filing of 2019 income tax returns, along with any payments that would be due with those returns in many cases, does not reflect the difficulties that have been imposed on both tax practitioners and their clients by the current crisis. Businesses are being ...
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As seen in Accounting Today: In a press briefing yesterday morning, Treasury Secretary Steven Mnuchin said that individual taxpayers who owe up to a million dollars in federal taxes can defer paying until July 15, while corporations can defer up to $10 million. No specific mention was made of changing the filing deadline. “This is disappointing,” said Neil H. Fishman, CPA, CFE, FCPA, CAMS, president of the National Conference of CPA Practitioners. “From everything that was coming out, we expected they were going to grant a filing extension. But they’re not granting a filing extension – they’re granting a payment extension.” Read the full Accounting Today ...
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March 13, 2020—The National Conference of CPA Practitioners (NCCPAP) today calls for the United States Department of Treasury and the Internal Revenue Service (IRS) to grant immediate relief for all taxpayers due to the uncertainty of the Coronavirus (COVID-19) pandemic. NCCPAP is requesting that the IRS and the U.S. Department of the Treasury consider the following: No penalties for tax years 2019 and 2020: NCCPAP is requesting that tax returns due after March 15, 2020 neither be penalized nor have interest charges assessed. This would apply to both individual and business tax returns. With the uncertainty of the April 15, 2020 due date for 2019 individual ...
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On Tuesday, March 3, National Conference of CPA Practitioners (NCCPAP) President Neil H. Fishman, CPA, CFE, FCPA, CAMS, and its Past President, Tax Chair and IRS National Public Liaison, Stephen Mankowski, CPA, attended the IRS Virtual Currency Summit in Washington, DC, hosted by IRS Commissioner Charles Rettig and Assistant Deputy Commissioner, Compliance Integration John Cardone. There were several discussion panels on topics including: Technology; A View from two Virtual Currency Exchanges (Coinbase and Kraken); Tax Preparation; and Regulatory Guidance and Compliance. Summary points of each panel are highlighted below: Panel #1: Technology Update ...
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Topics Include: Taxpayer First Act, New Advisory Group for Foreclosure Notices, and IRS Vision 2020. Immediate Past President and current Tax Chair, Stephen Mankowski, CPA, recently attended the February 2020 IRS NPL meeting. At a Glance Updates SECURE Act: With the 10-year rule on inherited IRA, several charities are pushing for donations from these IRAs to mitigate the tax burden. Filing Season 2020: “Avoid the Rush” communications will be coming soon from the IRS. Updated Publications: The IRS Services Guide (5136) and many other publications, including the Affordable Care Act (5187) and Tax Reform Basics (5307) have been updated ...
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NCCPAP President, Neil H. Fishman, CPA, CFE, FCPA, CAMS, was interviewed by Doug Llewelyn (of The People's Court ) on Monday, February 17, 2020. Neil spoke about taxpayer refunds and how the Tax Cuts and Jobs Act of 2017 brought significant changes to the law. With the 2020 filing season approaching, taxpayers should be concerned about compliance, now, more than ever. Listen to Neil's interview here:  https://www.blogtalkradio.com/closeupradio/2020/02/17/close-up-radio-spotlights-neil-h-fishman-of-fishman-associates #News
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NCCPAP was featured in Accounting Today 's "Collaboration is key in push for IRS Practitioner Services Division".  A group of ten IRS stakeholder organizations, led by the American Institute of CPAs, has recommended the creation of a Practitioner Services Division as one of a number of suggestions on implementing the Taxpayer First Act. “Over half of all taxpayers use a professional preparer to file their returns,” said Steve Mankowski, immediate past president and co-chair of NCCPAP. “We provide enough services for taxpayers that we need something more than just a toll-free number to call,” he said. “Part of the frustration was getting transferred when the ...
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Date:  Monday, February 17, 2020 at 4PM EST To Listen Live: https://www.blogtalkradio.com/live To Call In: 347.996.3389 National Conference of CPA Practitioners (NCCPAP) President Neil H. Fishman, CPA, CFE, FCPA, CAMS, will be speaking on the topic of taxpayer refunds during his interview with Doug Llewelyn (of The People’s Court) on Monday, February 17, 2020 at 4PM EST. The interview will be broadcasted live by Close Up Radio. The Tax Cuts and Jobs Act of 2017 brought significant changes to the law. With the 2020 filing season approaching, taxpayers should be concerned about compliance, now, more than ever. According to Neil, “My job is to ...
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Topics Include: Enterprise Risk Management, Electronic Signatures, New Director for the Office of Professional Responsibility, and Taxpayer First Act Meetings. Immediate Past President and current Tax Chair, Stephen Mankowski, CPA, recently attended the January 2020 IRS NPL and Taxpayer First Act meetings. Mark Your Calendars Tax filing season opens on January 27, the 14th annual Earned Income Tax Credit (EITC) Awareness Day is January 31, and the IRS Budget (2021) will be unveiled on February 2. Regarding the budget, the IRS is already in the hole due to recent pay raises and other inflationary factors. EITC and Additional Child Tax Credit refunds ...
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President Trump, the Chairman of the SEC, An Emmy Nominee, and Neil Fishman, NCCPAP’s National President These movers and shakers have been recognized by Accounting Today as the Top 100 Most Influential People—those thought leaders and change-makers who are shaping the accounting profession. Congratulations to Neil H. Fishman, CPA, CFE, FCPA, CAMS, and NCCPAP President, who follows in the footsteps of other esteemed NCCPAP Presidents acknowledged by Accounting Today in previous years. This prestigious honor is by no means automatic—there’s an extensive questionnaire and years of dedication and credentials that are required for consideration. “I’m ...
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Topics Include: Disaster Assistance Relief, Identity Protection Program, IRSAC Briefing Book, and the new 2020 W-4 Immediate Past President, Stephen Mankowski, CPA, recently attended the November 2019 IRS NPL meeting. Highlights are as follows: National Tax Security Awareness Week A week full of events occurred last week beginning with a multi-city press tour commencing on Cyber-Monday. NCCPAP was invited to make some remarks and personal appearances in Miami, FL and Philadelphia, PA. Disaster Assistance Relief With an increase in the number of weather and fire-related disasters in the US, there are special tax law provisions to help taxpayers ...
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