Recognize an outstanding member or firm by submitting a nomination for a CalCPA service award. You may download a nomination form below for the following awards:

  • Public Service (individual): Given to a CPA who has been especially active in service to the profession and community.
  • Public Service (firm): Recognizes firms for their public service contributions on the local, state or national level.
  • Distinguished Service: Granted either on the basis of long and distinguished service, or for some singular act resulting in extraordinary contribution to the profession, CalCPA and/or the community.

The AICPA also recognizes our winners who automatically become eligible for consideration for the AICPA Public Service Award.

Woman to Watch Nominations Due Feb. 16

CalCPA, in partnership with the AICPA and its Women’s Initiatives Executive Committee, is looking to honor women CPAs who have made significant contributions to the accounting profession or who demonstrate characteristics that enable them to become leaders in the profession.

Nominees will be invited to the CalCPA Education Foundation Women’s Leadership Forum on April 27 where the award recipients are announced. Nominations are due by Feb. 16.

NASBA, AICPA Update Uniform Accountancy Act

The National Association of State Boards of Accountancy and the AICPA have released the eighth edition of the Uniform Accountancy Act with some important changes, particularly related to “retired accountants.”

Among the major changes is a provision for a “retired CPA” category. Under the provision, CPAs 55 years of age and older can elect to place their license in an inactive status and discontinue meeting continuing professional education requirements. For CPAs at the end of their careers, the provision offers them an exception to ensure they can continue to offer a limited number of volunteer, uncompensated services to the public. 

The second major change permits the awarding of a certificate to a holder of a substantially equivalent foreign designation without the need for mutual recognition of U.S. CPAs. The goal is to provide international reciprocity to qualified individuals. 

The UAA update also includes a definition of “preparation of financial statements,” which serve to clarify other provisions of the UAA.

Ohio Amnesty for California Clients?

The Ohio Department of Taxation is reaching out to California tax practitioners who know of clients with an unreported or underreported Ohio tax liability that may qualify for the Ohio Tax Amnesty program, which ends close of business Thursday, Feb. 15.

Individuals or businesses that qualify for amnesty will pay no penalty and only half of the normal interest. The amnesty is available for most major taxes including the state income tax, sales and uses taxes, and the commercial activity tax and for taxes due before May 1, 2017.

Interested parties are required to file all applicable returns and pay in full before the amnesty ends. More information is available online or by calling 1-800-304-8211.

California Disaster Victims Receive Extra Time to File

The FTB announced special tax relief for taxpayers impacted by Southern California wildfires, floods and mudslides that began in December. Affected taxpayers are granted an extension to file 2017 California tax returns and make payments until April 30, 2018.

The IRS granted relief to individuals and businesses in four counties: Los Angeles, San Diego, Santa Barbara and Ventura. This applies to various tax filing and payment deadlines that occurred starting on Dec. 4, 2017, including individual income tax returns normally due on April 17 and quarterly estimated tax payments due Jan. 16.

The FTB also will follow these extended dates and will cancel interest and any late filing or late payment penalties that would otherwise apply.

Disaster loss rules apply to victims in Governor-declared or presidentially declared disaster areas. For a complete list of all disasters declared by the Governor, see the “Qualified Disasters” chart on FTB’s Disaster Loss webpage. Additional information and instructions are available in FTB Pub. 1034, How to Claim a State Tax Deduction for Your Disaster Loss.

IRS Warning: Latest Filing Scheme Emerges

Only a few days into the filing season, the IRS has already identified a new scam that began with cybercriminals stealing data from several tax practitioners’ computers and filing fraudulent tax returns.

In a new twist, the fraudulent returns in a few cases used the taxpayers’ real bank accounts for the deposit. A woman posing as a debt collection agency official then contacted the taxpayers to say a refund was deposited in error and asked the taxpayers to forward the money to her.

Tax professionals are reminded that there’s a procedure for them to report data thefts to the IRS. They need only contact their state’s IRS Stakeholder Liaison, who will notify appropriate IRS officials and serve as a point of contact. All practitioners should review Data Theft Information for Tax Professionals for details about the process and the additional steps they should take.