Alabama Society of CPAs View in Browser February 2017
 

Montgomery Senator Receives Business Champion Award



On February 15, The Business Council of Alabama presented state Sen. Quinton Ross with the Business Champion Award for passage of legislation that simplifies tax regulations by combining filing deadlines.

Sen. Ross, D-Montgomery, in the 2016 legislative session sponsored Senate Bill 263 that became law last May. The new law aligns state income tax filing dates for corporate and individual returns with federal tax filing dates.

The award was presented Ross by Mark Colson, the BCA’s senior Vice President of Governmental Affairs and Chief of Staff, and Alabama Society of CPAs President and CEO Jeannine Birmingham, CPA, CAE, CGMA, during the Montgomery Chamber of Commerce’s Alabama Legislative Update at the Alabama Activity Center. Read more >>

Alabama Legislature Completes Second Week

The Alabama Legislature adjourned early on Thursday, upon completion of the fourth legislative day. The House had extended debate this week on a resolution expressing support for the Trump Administration. The House also approved a bill that would prohibit state institutions of higher education from establishing sanctuary policies in violation of state or federal immigration law. The sanctuary bill must go to the Senate for consideration.

The Senate debated and passed several bills on Tuesday and Thursday of this week. Among those bills were legislation to establish the Judicial Resources Allocation Commission and a bill adding a six-year statute of limitations and clarifying the criminal intent requirement for Medicaid fraud. The bill applies to individuals and corporations alike.  Continue reading this week's legislative report >>

Week-by-week the ASCPA tracks bills that are important to Alabama CPAs. Visit www.ascpa.org/Protect2017 to see all legislative summaries and bill tracking. Find this week's bill tracking here >>

Tax Software Issues (CCH Specific)

For members who have any contacts w/ pass-through, please consider contacting them on the attachment issue.  The Form 1065 is already attached and “in most cases” has the schedules necessary to support the deductions.    

ADOR RESPONSE:
For the Form 65, Schedule E issue, the Pass-Through Tax section will allow the email address to be optional.  That will require a schema change.  The schema change will be effective on March 1st.  Until then it is ok to enter no@email.com.  
Please note that we are not sure when the software vendor will release the update to their clients.


For the Form 20S issue, we checked with the Pass-Through Tax section and their response is that the PDF attachment is required. 

ISSUES SUBMITTED (CCH AXCESS):

PARTNERSHIP RETURNS – FORM 65 – Sch65E
Alabama Forms 65 are being rejected because there isn’t an e-mail address listed on Schedule E,  Page 4, line 4 of the tax return.  There is not a diagnostic warning that this information is needed.  We do still have clients who do not have e-mail addresses so we are requesting this be optional (no reject).

S-CORPORATIONS – FORM 20S – REJECTION AL20S-028b & AL20S-014b
Alabama Forms 20S are being rejected because an additional pdf attachment is required to be added to the return if there are amounts on Line 5 and Line 19.  These amounts are Other Income and Other Deductions.  Many returns include Other Deductions and these statements are already included in the attachment to Federal Form 1120S which is attached to the Form 20S XML file.. There is not a diagnostic warning that this information is needed.  We are requesting that the attachment be optional and NO REJECT.  This correction needs to be addressed quickly.  This may also apply to Form 65 other income/deductions.

Minutes from ASCPA State Tax Commitee Meeting with the Alabama Department of Revenue

View the minutes from the State Tax Committee meeting on January 26, 2017 with the Alabama Department of Revenue here >>


What Do You Want and Need to Talk About at ASCPA Workshops?

Two of our most requested topics are scheduled and open for registration. We want to know: what do you want to talk about? Jessica Roberts, ASCPA Director of Education, wants to hear from you about the two workshops below. Contact her via email at jroberts@ascpa.org.

Prepare for 2018 with the Employee Benefits Workshop this May 25, 2017. Join us for an update directly from the Department of Labor as well as first-hand news and insights from local experts on the issues that are critical to employee benefit plan audits. Whether you are new to the practice or are ready for an advanced look at the issues, the Employee Benefits Workshop provides a comprehensive review of the latest regulatory information and compliance issues that are vital in a corporate environment. Register online today >>

Business and Industry--it isn't easy. But, we want to help. As a CPA in business and industry, you are consistently faced with changes and developments that make your professional needs unique. The ASCPA presents the Business and Industry Workshop, an event that focuses on the strategic management and leadership skills critical to corporate CPAs. Mark your calendar for June 30, 2017 for 8 hours of education specifically tailored to your profession. Sign up today >>

Come to the Capital of Dreams to Get Connected

Join the Alabama Society of CPAs in Montgomery, Alabama at the Renaissance Montgomery in the heart of the Capital of Dreams for another year of the re-imagined Annual Meeting. On Thursday, June 8 and Friday, June 9, 2017, you and your colleagues can look forward to NEW education tracks, one full day of A&A and tax education, evening awards presentation, Celebration of Success, and another day of opportunities for students, educators, Young CPAs, and firms. Featured speakers include AICPA Chair, Kimberly Ellison-Taylor. Contact the Renaissance Montgomery to book your special member rate today.

We want you to dream big in 2017. Find out more about what Accounting Connections has for you online here ​>>

A Week at the Beach Club is Calling Your Name.

Visit The Beach Club in Gulf Shores June 20, 2017 through June 23, 2017 to earn up to 32 hours of education. This four-day event allows you to choose from a variety of timely tax, A&A, and other topics -- find all of the courses listed here.  With plenty of education and downtime, we can help you keep work/life balance in check! Reserve your room and choose your classes today, and check "Summer getaway" off your to-do list! All the details can be found at www.ascpa.org/GulfShores2017 >>


$2500.00 to Get Smarter?

The ASCPA’s Educational Foundation is proud to offer accounting scholarships for the 2017/18 academic year.  Visit the ASCPA website for criteria for all three scholarships, eligible schools, applications and deadline for submission >>

Please note that your university may employ a selection committee and send only a final candidate to the ASCPA.  Contact your advisor for information specific to your school.  

Questions:  Contact Diane Christy, dchristy@ascpa.org, 334.386.5752. 


Practices for Sale
  • Huntsville CPA practice grossing $315K
  • Birmingham tax practice grossing $225K
  • Upper Cumberland, TN CPA grossing $70K * New *
  • West of Downtown Chattanooga CPA gossing $165K * New *

For more information on these listings or to sell your practice, contact Lori Newcomer at (888) 277-6040 or LNewcomer@APSLeader.com or visit AccountingPracticeSales.com.

ascpa
February 21, 2017
In this issue    
Protect

  • Montgomery Senator receives Business Champion Award.
     
  • Alabama Legislature completes second week.

  • Tax Software Issues (CCH Specific)

  • Minutes from ASCPA State Tax Committee meeting with the Alabama Department of Revenue
Educate

  • ASCPA workshops are for YOU. What do you want and need to talk about?

  • Come to the Capital of Dreams to Get Connected.

  • A week at the Beach Club is calling your name.
Connect

  • $2500.00 to get smarter?
Classifieds

  • Practices for Sale
Webinars this Week


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Alabama Society of CPAs
www.ascpa.org