Main Street Practitioner Blog

Tax and Accounting News for Practitioners from Main Street to Wall Street

  • Today, during a meeting at the IRS, the head of the IRS Tax Reform Office told NSA EVP John Ams that the 199A regulations will be released in mid-July. In addition to the expected release date, EVP Ams was also informed that the regulations would be delivered in proposed form, subject to comments and ...

  • Treasury Secretary Mnuchin announced the department will unveil a new Form 1040, U.S. Individual Income Tax Return, next week that will come in the shape of a postcard  “as promised.” In the lead-up to the passage of the 2017 tax act ( Pub. L. No. 115-97 ), Republicans vowed that the tax code revamp ...

  • As a service to our members at the upcoming NSA Annual Convention in Minneapolis, the NSA Accounting Standards Committee will offer to critique financial statements prepared by your office. The statements will be critique based on generally accepted accounting standards and will include a one on one ...

  • Current Secretary Treasurer Curt Lee has announced his candidacy for NSA 2 nd Vice President and will forego the remaining year of his two year term in that position.  In accordance with NSA’s Bylaws—which require officer candidates to resign any current position they hold “no later than at the election” ...

  • Registration Now Open for NSA Convention, August 22-25, Minneapolis, Minn. The National Society of Accountants (NSA) Annual Convention bridges the gap between the signing of H.R.1-- Tax Cuts and Jobs Act and preparing tax professionals to understand how the changes will impact their clients. The ...

  • Registration Open for NSA’s highly-acclaimed EA Exam Prep Course  in Minneapolis, prior to NSA National Conference   Accounting and tax professionals looking to take the Enrolled Agent (EA) Exam in 2018 can increase their success rate by participating in NSA’s highly-acclaimed Enrolled Agent Exam ...

  • The IRS and its state and industry Security Summit partners today warned tax practitioners to beware of phishing emails posing as state accounting and professional association. The IRS this week received reports from tax professionals who received fake emails that were trying to trick them into disclosing ...

  • Now that the enrollment renewal cycle has finished, the IRS Return Preparer Office will begin annual clean-up of those Enrolled Agents who have Social Security Numbers (SSNs) ending in 7, 8 or 9 or those who have no SSN and did not renew. Those who did not renew during the 2015 and 2018 cycles will ...

  • The IRS today issued Notice 2018-54 , which announces forthcoming regulations that will address the "tax treatment of certain payments made by taxpayers for which taxpayers receive a credit against their state and local taxes."  A press release accompanying the notice is available here . ...

  • May is the time for anyone interested in running for NSA Officer or District Governor positions to submit their Candidate Announcement Form . Elections for office will be held later this summer, but if you have an interest in being considered for office, please submit your application between ...

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