NCCPAP News

The National Conference of CPA Practitioners (NCCPAP) announces its support of H.R. 4214, commonly referred to as The Tax Deadline Simplification Act. Co-sponsored and introduced by Representatives Debra Lesko (R-AZ) and Bradley Schneider (D-IL), this bipartisan legislation, if enacted, will simplify the quarterly installments for estimated income tax payments by individuals, changing the due dates for the second and third quarter estimated federal income tax payments to have all quarterly payments ... Read More

August 11, 2021—Last week, the Internal Revenue Service released Notice 2021-49 in response to repeated requests by the accounting and business communities to provide clarification regarding rules governing the Employee Retention Credit (ERC). In so doing, the IRS issued a damaging blow to those businesses hardest hit by the COVID-19 pandemic—small family-owned businesses. The original rules governing the ERC did not allow for a credit for wages paid to family members, including the children and ... Read More

Succession Planning for Accounting Firms August 24, 2021 CLICK HERE TO REGISTER WESTCHESTER/ROCKLAND CHAPTER'S Succession Planning for Accounting Firms 2 CPE Specialized Knowledge Bill Carlino Bill Carlino serves as managing director at Transition Advisors LLC, one of the country’s preeminent consultants specializing in CPA firm ownership and transition where he oversees the New York New Jersey and New England markets. He joined Transition Advisors after serving ... Read More

Topics Include Office of Promoter Investigations, Fraud Enforcement Office Update, and the Introduction of Several New Office Directors As reported by Tax Chair, Stephen Mankowski, CPA, CGMA, who recently attended the monthly IRS Meeting. New Resources Relative to Child Tax Credits Can Be Found Here Office of Promoter Investigations This newly created service-wide office is being headed by Lois Deitrich , a 20-year veteran of the agency. Deitrich is working on agency-wide ... Read More

‘The Place to Be’ for a Sophisticated Dialog and a Fantastic Experience The Educational Foundation of the Nassau/Suffolk Chapter of NCCPAP and the Nassau/Suffolk Chapter of NCCPAP are proud to announce this year’s lineup for its Accounting and Tax Symposium (ATS). This year’s event (formerly known as the Long Island Tax Professionals Symposium or LITPS) will remain virtual. Based on the success of last year’s virtual format, the NCCPAP organizations will continue to welcome a national audience ... Read More

New York State Mandated Annual Sexual Harassment Prevention Training July 27th, 2021 CLICK HERE TO REGISTER WESTCHESTER/ROCKLAND CHAPTER'S NYS Mandated Annual Sexual Harassment Prevention Training 2 CPE Specialized Knowledge Matthew E. Stein ESQ. Matthew Stein has extensive litigation and trial experience, representing and counseling employers on a wide range of issues. He represents clients in state and federal court and before administrative agencies. ... Read More

July 6, 2021—The National Conference of CPA Practitioners (NCCPAP), an organization representing Certified Public Accountants (CPAs) and other tax professionals, announces its endorsement of H.R. 4184, the Taxpayer Protection and Preparer Proficiency Act of 2021. This bill, once it becomes law, would grant the U.S. Department of the Treasury and the Internal Revenue Service (IRS) the authority to regulate those who prepare tax returns. “It is gratifying to see that this legislation has been introduced ... Read More

Topics Include Large Corporate Compliance Audits, Child Tax Credit Updates, Passport Revocation Update, and the Marijuana Industry As reported by Tax Chair, Stephen Mankowski, CPA, CGMA, who recently attended the monthly IRS Meeting. Large Business & International (LB&I) Division Large Corporate Compliance (LCC) audits are the largest audits performed by the IRS. The LB&I division annually selects which businesses it will examine based on a risk profile. To determine the LCC population, ... Read More

NCCPAP National Quarterly Conference By Mark A. Stewart, Jr., CPA, National President, NCCPAP June 22, 2021—NCCPAP recently held its National Quarterly Conference on June 7-9, 2021. Our summary of important topics includes: Meetings with Congress and the IRS The NCCPAP leadership team is currently planning a series of virtual meetings with Congressional and IRS leadership in late July. These are being coordinated through our National Tax Committee co-chairs, Steve Mankowski, ... Read More

NCCPAP President, Mark A. Stewart Jr., CPA will be speaking at the Suffolk County Bar Association’s Tax Law Committee event on July 8, 2021 at 5pm. Mark will present COVID-19 Tax Planning Opportunities, discussing the CARES Act and Consolidated Appropriations Act of 2021; business sales and retirement planning opportunities; and the strong chance of legislative change due to the new administration.   COVID-19 Tax Planning Opportunities July 8, 2021 at 5pm   To register, please email nour@litaxattorney.com ... Read More

Foreign Tax Compliance for US Citizens June 29, 2021   CLICK HERE TO REGISTER WESTCHESTER/ROCKLAND CHAPTER'S Foreign Tax Compliance and Potential Issues 2 CPE TAX Hana Boruchov, Esq, Leo Gabovich,Esq., Altin Nonaj, Esq. Hana Boruchov,Esq. is a graduate of Benjamin N. Cardozo School of Law with a corporate law concentration. Hana is a nationally recognized speaker and author. She is an honoree of Super Lawyers Rising Star Award, consecutively for 2019, 2020 ... Read More

Topics Include Filing Season Statistics, Restaurant Revitalization, and Small Business/Self-Employed Division Updates As reported by Tax Chair, Stephen Mankowski, CPA, CGMA, who recently attended the monthly IRS Meeting. Filing Season Fun Facts & Other Updates—At a Glance 136 million federal tax returns filed $254 billion in refunds; 94% filed electronically; 92% direct deposit 9.9 million phone calls answered (March experienced 1500 calls/second!) 1000 IRS employees to be added ... Read More

Topics Include an Update on the New Tax Pro Account Release and a Spotlight on Criminal Investigation Programs As reported by Tax Chair, Stephen Mankowski, CPA, CGMA, who recently attended the monthly IRS Meeting. Tax Pro Account Thanks to COVID, the IRS accelerated its release of the Tax Pro Account. While the first release was anticipated for Q3 2022, the IRS is now looking at Q3 2021. With the upcoming release, the forms will automatically be entered into the Centralized Authorization File ... Read More

NCCPAP Leaders Highlighted in the Media We’re being heard! NCCPAP is gaining more and more visibility in the media. Over the past several months, NCCPAP Board Members and our CPA member experts have been tapped as trusted sources for tax and regulatory information and advocacy. Some recent examples include: April 9, 2021, New York Times As featured in the Your Money Adviser Section, The Tax Filing Deadline Was Delayed, but Read the Fine Print Our NCCPAP ... Read More

Topics Include Current Filing Statistics, Improvements to The Taxpayer Experience, and COVID-related Retirement Plan Relief As reported by Tax Chair, Stephen Mankowski, CPA, CGMA, who recently attended the monthly IRS Meeting. Current Filing Statistics 66M returns have been received through 3/12; 58.4M returns have been processed More than 15M business returns have been process through 3/12 160M is the total expected number of returns to be received Free File participation is up ... Read More

ATS 2021 Tax Season Special Pricing This year's 19th Annual Accounting & Tax Symposium (formerly LITPS) will again be virtual. Based on the success of our first virtual event last year, we are offering relevant & timely topics, nationally recognized speakers, an enhanced Lunch & Learn for networking, and up to 32 CPE Credits! We have spent hundreds of hours enhancing your Tax Symposium to make this a memorable event with the quality and exceptional education experience that you deserve. The event ... Read More

March 22, 2021—The National Conference of CPA Practitioners (NCCPAP), an organization representing sole practitioners and small CPA firms across the country, would like to take this moment to thank the U.S. Department of the Treasury and the Internal Revenue Service (IRS) for their announcement last week extending the due date for personal income tax returns from April 15 to May 17, 2021; however, NCCPAP recognizes that work still needs to be done to help both individual and corporate taxpayers. ... Read More

March 19, 2021— Dear Director Ficara and Governor Murphy, For the last twelve months, taxpayers, practitioners, and the New Jersey Division of Taxation have been dealing with unprecedented circumstances associated with the Covid-19 pandemic. Every tax filing season is fraught with uncertainty. Unfortunately, the circumstances associated with the 2021 filing season are outside of the control of taxpayers, practitioners, and even the Division of Taxation. There has been late legislative action, ... Read More

March 19, 2021— Dear Commissioner Schmidt and Governor Cuomo, For the last twelve months, taxpayers, practitioners, and the New York State Department of Taxation and Finance have been dealing with unprecedented circumstances associated with the Covid-19 pandemic. Every tax filing season is fraught with uncertainty. Unfortunately, the circumstances associated with the 2021 filing season are outside of the control of taxpayers, practitioners, and even the Tax Department. There has been late legislative ... Read More

March 17, 2021—The National Conference of CPA Practitioners (NCCPAP), an organization representing CPAs across the country, gives its thanks to the U.S. Department of the Treasury and the Internal Revenue Service (IRS) regarding its decision to extend the April 15 filing and payment due date for personal income tax returns or extensions until May 17, 2021. “The past year has been extremely trying for everyone, especially for those who prepare income tax returns and advise businesses,” says Mark ... Read More

Topics Include Several COVID-related items: Employee Retention Credits, Recovery Rebate Credits, and PPP Loan Update As reported by Tax Chair, Stephen Mankowski, CPA, CGMA, who recently attended the monthly IRS Meeting Nationwide Tax Forums Registration opened on March 1. The IRS Forums will begin in July and spread over five weeks with Tuesday, Wednesday and Thursday seminars. A case resolution room will be available until the Forums go back to live events; however, there will be an Exhibit ... Read More

March 8, 2021— Dear Secretary Yellen, Acting Assistant Secretary Mazur, and Commissioner Rettig: For the last twelve months, taxpayers, practitioners and the IRS have been dealing with unprecedented circumstances associated with the Covid-19 pandemic. Every tax filing season is fraught with uncertainty. Unfortunately, the circumstances associated with the 2021 filing season are outside of the control of taxpayers, practitioners, and even the IRS. There has been late Congressional action, issues ... Read More

NCCPAP Members, Steve Mankowski, CPA, CGMA and Andrea Parness, CPA, CTC Published in Notable Journals and Recognized for Their Expertise and Leadership Stephen F. Mankowski, CPA, CGMA has recently been published in CPA Now , a publication of the Pennsylvania Institute of Certified Public Accountants (PICPA). In his article, Data Safety Prep and the 2021 Tax Filing Season , he talks about the importance of having a written data security plan. He also recommends looking at IRS Publication ... Read More

Accounting & Auditing: Upcoming Changes Present Challenges and Opportunities By Mark A. Stewart, Jr., CPA, National President, NCCPAP February 9, 2021— Many of us in the accounting profession are no doubt buried behind the tidal wave of accounting issues brought about by The Consolidated Appropriations Act, 2021. This includes PPP Second Draw Loans, PPP loan forgiveness, and The Employee Retention Credit, to name a few. NCCPAP continues to stay on top of these items, so please watch for our ... Read More

Carol Markman was destined to become a trailblazer. In the early 1980’s when she was establishing her CPA firm, the only CPA organization she knew about was the New York State Society of CPAs (NYSSCPA). Although Carol was invested in professional associations as a way of advancing her practice, she didn’t feel that NYSCCPA met her needs as an owner of a small CPA firm. Even so, she signed up for weekend getaways as a chance to get to know the members. According to Carol, “I wasn’t shy, so I stood ... Read More

Topics Include: e-Signature Update, TFA Report to Congress, Taxpayer Advocate Report to Congress, and Taxpayer Relief Initiatives As reported by Tax Chair, Stephen Mankowski, CPA, who recently attended the monthly IRS Meeting e-Signature Update The Taxpayer Digital Communications (TDC) Secure Messaging Program deployed e-Signature on 1/25/21. To access this capability, a tax practitioner must either be registered for e-Services or access it through Forms 2848 or 8821 . This will allow taxpayers ... Read More

Another Month, Another Multi-Thousand Page Bill to Absorb By Mark A. Stewart, Jr., CPA, National President, NCCPAP January 12, 2021—On the eve of the 2020 holiday season, CPA practitioners received both a gift and a lump of coal in their stocking—the Consolidated Appropriations Act, 2021. While the provisions of this Bill are mostly good news for practitioners and their clients, there are many issues we must now face as practitioners. The good news includes numerous tax extenders, deductibility ... Read More

NCCPAP In Action: A Major Victory for Business Owners/Taxpayers January 4, 2021—With the passage of the “Consolidated Appropriations Act, 2021,” the National Conference of CPA Practitioners (NCCPAP), a national organization of small and mid-sized CPA practices, working with other organizations, can claim a major victory for business owners/taxpayers. After the CARES Act was passed in March, the Internal Revenue Service (IRS) came out with a notice stating that their position with regard ... Read More

To My Friends at NCCPAP: By Mark A. Stewart, Jr., CPA, National President, NCCPAP December 4, 2020—This year has brought enough hardships for a lifetime. Our profession has been one of the lucky few ones that has actually thrived during the pandemic; however, we must remember that many other businesses are still struggling just to survive. Right now, it is more important than ever that we advocate for these businesses. We need our members to show their power and strength in numbers by bringing ... Read More

Topics Include: An IRS 2020 Summary, Technology at the Forefront, New Smart Form Availability, and a Paper Check Reduction Program Tax Chair, Stephen Mankowski, CPA, recently attended the monthly IRS Meeting. General Updates and 2020 Summary November was our last meeting for 2020 and we’re all hoping for a better 2021, even though next year will likely start out as virtual. To kick-off awareness for next tax season, November 30-December 4 is the 5 th annual tax security awareness week, ... Read More