Before March is done, nominate an outstanding member or firm for:

  • Public Service Award: Given to a CPA who has been especially active in service to the profession and community.
  • Public Service Award for Firms: Aims to recognize firms for their public service contributions on the local, state or national level.
  • Distinguished Service Award: 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.

Renew Your Membership, Win a Prize

Renew your membership by enrolling in auto renew by May 1 and be entered in a prize drawing. Members have a chance to win either a VPE 40 or an Amazon Echo. The prize drawing is subject to terms and conditions.

By enrolling in auto renewal, you’ll:

  • Never have to re-enter your credit card; your information is stored securely;
  • Save time: One less thing to do each year and you’ll enjoy your member benefits, uninterrupted; and
  • Get email alerts: We’ll let you know when your annual membership dues payments are processed.

How it works: During the start of each membership term in May, we’ll automatically charge your credit card. After your annual membership dues payment has been processed, we’ll email you a confirmation receipt—it’s that easy.

New-look Event Registration

The next time you sign up for an event, you’ll notice we’ve cleaned up the look and streamlined the process to get you registered and on your way quickly. 

You’ll also enjoy various new features, including:

  • Real-time shopping cart pricing.
  • More intuitive discounts page.
  • Easy ability to register others.
  • New interface for group registration discounts.
  • The ability to store items in your shopping cart and revisit later.

Check out our FAQs for more information.

Federal Tax Updates: IRS Notices, Estate Tax Returns and More

Information Returns and Payee Statement
IRS Notice 2017-9 (IRB 2017-4, Jan. 23, 2017) provides guidance to implement the new de minimis error safe harbor for information returns and payee statements authorized by the 2015 Protecting Americans from Tax Hikes Act (P.L. 114-113). This notice also deals with the payee’s election to have the safe harbor not apply and discusses when and how the election is made. Notice 2017-9 is effective for returns required to be filed, and statements required to be furnished, after 2016.

Estate Tax Returns
Under IRS Notice 2017-12, an account transcript may be substituted for an estate tax closing letter. An account transcript includes transaction codes and code descriptions. A transcript that shows code “421” and the description “Closed examination of tax return” indicates that the IRS’ examination of the estate tax return has been completed and closed. Therefore, a transcript displaying code “421” is the functional equivalent of an estate tax closing letter.

36-month Test Eliminated for Reporting Cancelled Debt
Regs. Sec. 1.6050P-1 (TD 9793), Nov. 9, 2016) eliminates the previous rule, subject to exceptions, that a creditor had to furnish Form 1099-C, Cancellation of Debt, if there was a 36-month period during which the creditor did not receive any debt repayments.

Transaction Relief for Tangible Property Rules
IRS Notice 2017-6 (IRB 2017-3, Jan. 17, 2017) waives the eligibility rule for an additional year to any year before 2017 for taxpayers making certain automatic changes to use the final tangible property rules. The eligibility rule prohibits taxpayers from making certain automatic accounting method changes if they made or requested an accounting method change for the same item during any of the five tax years ending with the year of change.

–Stuart R. Josephs

New Tax Return Due Dates for Business Entities

The FTB has issued a reminder for the month of March: For taxable years beginning on or after Jan. 1, 2016, the original and extended tax return due dates for California returns have changed for business entities.

The original tax return due date is now March 15 which used to be April 15 for calendar year filers. For fiscal year filers, the new due date is the 15th day of the 3rd month following the close of the taxable year.

The extended due date has also been changed from Oct. 15 to Sept.15 for calendar year filers and for fiscal year filers, the extended due date is the 15th day of the 9th month following the close of the taxable year.

Refer to this chart for the more details about due date for business entities.

A Simple Way to Track Your CPE

Curious about what CPE you’ve taken? CalCPA’s My CPE Tracker compiles all of your CPE in one location and in a CBA approved format—and you can add CPE taken from other sources.