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Impact Report 12: Advocacy, Economic Recovery, & More

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Impact Report 12: Advocacy, Economic Recovery, & More

 

 

In this month’s IMPACT Report, new FICPA Chair W.G. Spoor shares why advocacy is important now more than ever, while Governmental Affairs Director Justin Thames shares updates on state tax legislation effective July 1, economic recovery efforts, and more.

Also in this month’s IMPACT Report:

  • Restore Economic Strength through Employment and Tourism (RESET) Task Force
  • Florida TaxWatch COVID-19 Taxpayer Task Force
  • Governor Ron DeSantis Signs Deregulation Bill
  • Fiscal Year 2020-2021 Final Budget
  • CPA Exam Continuous Testing Begins July 1
  • PPP Extended until August

Sincerely

Justin Thames
Director of Governmental Affairs

News and Highlights:

FICPA brings CPA voice to economic recovery efforts

In response to the pandemic’s negative impact on Florida’s economy, the FICPA has joined statewide efforts aimed at developing ideas and solutions for lawmakers to consider as they continue to look towards the reopening and rebuilding of our state’s economy. The FICPA State Legislative Policy Committee has worked with many of these groups to provide recommendations and several FICPA members have been selected for leadership roles in the joint taskforces.  We are proud of our members for representing the FICPA and the profession in these efforts.   

Restore Economic Strength through Employment and Tourism (RESET) Task Force

The RESET Task Force is comprised of more than 50 trade associations and business groups from across the state. Led by former President of the Independent Colleges and Universities of Florida Dr. Ed Moore, the coalition has focused their efforts to provide industry-specific solutions to the challenges facing the business community during the pandemic. In addition to Dr. Moore’s leadership, the taskforce is bolstered by the expertise of former FEMA Administrator Craig Fugate as a senior advisor. Representing the FICPA on the task force are the following members:                                                                         

 

     
  Chris Oatis   W.G. Spoor   Shawn Riordan
        Co-Chair Tax Working Group   Legal Reform/Liability Working Group   Agriculture Working Group

   

Florida TaxWatch COVID-19 Taxpayer Task Force

The Florida TaxWatch is the preeminent taxpayer research and government watchdog organization for the state. Focused on the fiscal management and productivity of the state government on behalf of the taxpayers, TaxWatch was well positioned to pull together many of the state’s talented business leaders to form a task force to address the pandemics impact on the taxpayer. Representing the profession on the task force are the following members:

         
  Karen Lake, CPA Task Force Chair   Winston Howell,CPA   Santiago Pujals, CPA   Michael Kohner, CPA   Richard Berkowitz, CPA

                                     

Governor Ron DeSantis Signs Deregulation Bill

On June 30, Governor DeSantis signed his long-anticipated deregulation legislation coined  “The Occupational Freedom and Opportunity Act” (HB 1193). This act eliminates barriers of entry to certain professions licensed by the Florida Department of Business and Professional Regulation (DPBR) by adding endorsement and reciprocity provisions, removing supplemental business licenses and corresponding license fees, reducing licensure education requirements, and eliminating other licensure and registration requirements. 

Specifically related to the profession, the legislation deletes the continuing education (CPE) requirements for individuals applying for a license under the “licensure by endorsement process”. Licensure by endorsement generally applies to CPAs that are licensed in other states and who are moving to Florida.  The law does NOT delete the CPE requirements for all CPAs. You can read more about the impacts of The Occupational Freedom and Opportunity Act here.

 

New State Tax Laws Effective July 1

Many of the provisions of the state tax law changes legislation, House Bill 7097 , took effect July 1. The Florida Department of Revenue (DOR) issued several Emergency Rules implementing the newly enacted law, see rules below. 

Highlights from HB 7097:
Refund Statute of Limitations – Tolls the time to file a refund claim during an informal audit protests, which will extend the time a taxpayer has to file a refund claim for an overpayment of taxes arising from the audit period under protest.
Fuel Bond Requirement Increase – An increase of the annual bond required for fuel dealers from $100,000 to $300,000
Monthly Dyed Fuel Penalty A change for the improper invoicing of dyed diesel fuel from a per gallon penalty to a $2,500/month penalty
Nonprofit Hospital Exemption Limitation – A potential limitation of the property tax exemption enjoyed by nonprofit hospitals based on the actual community benefit expense provided by the hospital in each county.  Hospitals will be required to annually report to the DOR effective 2022.  If the community benefit is less than the property tax exemption in two or more consecutive years, then the property tax exemption will be reduced proportionately.
1099-K Reporting for SUT Audit Leads – Requiring payment settlement entities (banks, credit card companies and payment platforms) that file IRS form 1099-K (providing information about payments by credit cards or third-party merchants) to also electronically file the form with DOR. A penalty for not filing of $1,000 a month, up to $10,000 per year, is created. 

To view a detailed analysis of all the provisions included in HB 7097, click here  

Florida Department of Revenue’s Emergency Rules

Emergency Rule Number: 12BER20-01 Emergency Rule Title: Terminal Suppliers Effective Dates: July 1, 2020 thru December 28, 2020   Emergency Rule Number:  12BER20-03 Emergency Rule Title: Exporters Effective Dates: July 1, 2020 thru December 28, 2020
     
Emergency Rule Number: 12BER20-02 Emergency Rule Title: Wholesalers Effective Dates: July 1, 2020 thru December 28, 2020   Emergency Rule Number: 12BER20-05 Emergency Rule Title: Producers and Importers of Pollutants Effective Dates: July 1, 2020 thru December 28, 2020
     
Emergency Rule Number: 12BER20-07 Emergency Rule Title: Dyeing and Marking; Mixing Effective Dates: July 1, 2020 thru December 28, 2020   Emergency Rule Number: 12ER20-08 Emergency Rule Title: Application for Refund Effective Dates: July 1, 2020 thru December 28, 2020

 

Fiscal Year 2020-2021 Final Budget

Governor DeSantis has signed the final budget for this fiscal year, which totals at $92.2 billion. The budget includes two issues the FICPA advocated for, with $200,000 going towards the Clay Ford Scholarship and $100,000 for the Unlicensed Activity Fund. The Unlicensed Activity Fund aids in combating unlicensed activity through licensure enforcement and education, while the Clay Ford Scholarship is intended to encourage students to remain in school for the fifth year required to obtain a CPA license. Student applicants who meet the requirements may be eligible for scholarships from $3,000 to $6,000 per semester, which are awarded for a maximum of two semesters. For an in-depth analysis of the budget, Florida TaxWatch has released its Taxpayer’s Guide to Florida’s FY2020-21 State Budget providing information on nearly any budget topic you might be interested in!  

CPA Exam Continuous Testing Begins July 1

On July 1, The National Association of State Boards of Accountancy (NASBA), American Institute of CPAs (AICPA) and Prometric launched year-round testing of the Uniform CPA Examination. According to NASBA, continuous testing has been a goal for some time, and it comes in direct response to feedback from CPA Exam candidates and their desire to test more frequently throughout the year. The new continuous testing model provides greater candidate flexibility and convenience, with more than 75 additional testing dates available throughout the year. Candidates wishing to learn more about continuous testing, as well as how the score release process will work, should visit the CPA Exam Score Release and Continuous Testing Overview pages. Additional information is also available in this short informational video.  

PPP Extended until August

On July 4,  The President signed legislation into law that extends the application window for the Paycheck Protection Program (PPP) until August 8. The program still has roughly $130 billion and there is a growing discussion about whether the program should be extended further. In a recent statement, the architect of the program Florida Senator Marco Rubio stated, “As the scope of the financial damage done to small businesses by the pandemic and resulting lockdowns has grown, it has become clear that longer-term support is necessary.”  Just yesterday, Treasury Secretary Mnuchin commented on his conversations with Senator Rubio regarding the possibility of more assistance for businesses through the loan program. He revealed that he  thinks any further extension of the program will be “much, much more targeted to the businesses that really need this money and the smaller businesses.”

Florida CPA/PAC Needs You DONATE ONLINE

Looking for a way to get involved and make a positive difference in the political process? Make a financial contribution to the Florida CPA/PAC. Your assistance helps us educate lawmakers on issues that affect CPAs, support pro-CPA candidates, and maintain relationships with those in Tallahassee who can stand up for accounting and business professionals. Learn more and donate at FICPA.org/PAC!

Please note: contributions are strictly voluntary and are not deductible for federal tax purposes. The Florida CPA/PAC is an entity completely separate from the FICPA. The Florida CPA/PAC is supported solely by the voluntary contributions of members of the FICPA and others

Impact Report 11: FICPA offers COVID-19 Resources

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Impact Report 11: FICPA offers COVID-19 Resources

 

As the effects of the COVID-19 pandemic continue to spread, the FICPA Governmental Affairs team is doing our part to keep CPAs informed on the latest news and developments. We’re closely monitoring the legislative and regulatory changes happening at the local, state, and federal level, and the FICPA has compiled an extensive collection of resources to help CPAs manage during these challenging times.

Watch our latest video update to learn more.

Sincerely

Justin Thames
Director of Governmental Affairs

Florida CPA/PAC Needs You DONATE ONLINE

Check out the new video from the Florida CPA/PAC to see our legislative efforts on your behalf, and consider contributing to the Florida CPA Political Action Committee here.

Please note: contributions are strictly voluntary and are not deductible for federal tax purposes. The Florida CPA/PAC is an entity completely separate from the FICPA. The Florida CPA/PAC is supported solely by the voluntary contributions of members of the FICPA and others

Impact Report 10: CPA Bill Heads to Final Vote

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Impact Report 10: CPA Bill Heads to Final Vote

 

As the 2020 Florida legislative session continues into an extra week to finalize the budget & tax packages, HB867 – the “CPA bill” we’ve been tracking throughout the session – is headed to a final vote. FICPA Director of Governmental Affairs Justin Thames has an update on the latest amendments and how you can help us get this critical legislation passed.

Also in this week’s IMPACT Report:

  • Bill Tracking Updates
  • New Florida CPA/PAC Video

Sincerely

Justin Thames
Director of Governmental Affairs

Call to Action

Please contact your local State Representative, ask them to support their local CPAs and VOTE YES on House Bill 867!

Our CPA lawmakers have worked hard to pass this bill and now we need your help! Take action now!

 

Step 1: Find YOUR Representative Here

https://www.myfloridahouse.gov/Sections/Representatives/myrepresentative.aspx

Step 2: Email or call their office in Tallahassee and ask them to support House Bill 867 and the CPA profession.

 

House Bill 867 does the following:

  • Creates a “retired” status for CPAs 55 years or older.
  • Allows for CPE reciprocity for nonresident Florida CPAs.
  • Clarifies ‘licensure by endorsement” requirements.
  • Clarifies the definition of “performance audit” for discretionary sales surtax referendums.
  • Link to the full bill language here: http://flsenate.gov/Session/Bill/2020/867

As a member of the FICPA, we need your support! Take just a few minutes to ask your state Representative to “VOTE YES” on House Bill 867.

Bill Tracking

SB474 – Deregulation of Professions and Occupations by Sen. Albritton

Status: Read Second Time; Substituted for HB 1193; Laid on Table, Refer to HB 1193

 

SB126 – Sales and Use tax by Sen. Gruters

Status: Favorable by Finance and Tax; YEAS 8 NAYS 0. Now in Appropriations

 

SB616 – Background Screening by Rep. Powell

Status: Introduced – SJ 47

 

HB6021 – Corporate Income taxes by Rep. Eskamani

Status: Introduced – HJ 258

 

SB740 – Real Estate by Rep. Diaz

Status: Introduced- SJ 56

 

SB450 – Whistleblower’s Act by Sen. Brandes

Status: Introduced -SJ 34

 

HB707 – Legislative Review of Occupational Regulations by Rep. Renner

Status: Referred to Governmental Oversight and Accountability; Appropriations; Rules. Received

 

HB1141 – Taxation of Real Property by Rep. Caruso

Status: Introduced -HJ 100

 

SB1140 – Public Accountancy by Sen. Gruters

Status: Read Second Time; Substituted for HB 0867; Laid on Table, Refer to HB 0867

 

SB1526 – Food Donation Programs by Sen. Albritton

Status: Introduced -SJ 112

 

SB1238 – Regulatory Reform by Rep. Diaz

Status: Introduced -SJ 90

 

HB963 – Consumer Data Privacy by Rep. Santiago

Status: Introduced -HJ 83

 

HB7095 – Adoption of the Internal Revenue Code for Purposes of the Corporate Income Tax by Rep. Avila

Status: Passed; YEAS 39 NAYS 0. Ordered enrolled

 

HB 7097 – Taxation by Rep. Avila

Status: Read Second Time; Amendments Failed (591488, 357978, 859456, 678516, 103672, 758088, 439482, 947834, 819886, 608968); Amendment Adopted (271678); Placed on Third Reading, 03/13/20

Florida CPA/PAC Needs You DONATE ONLINE

Check out the new video from the Florida CPA/PAC to see our legislative efforts on your behalf, and consider contributing to the Florida CPA Political Action Committee here.

Please note: contributions are strictly voluntary and are not deductible for federal tax purposes. The Florida CPA/PAC is an entity completely separate from the FICPA. The Florida CPA/PAC is supported solely by the voluntary contributions of members of the FICPA and others

Impact Report 9: 2020 session likely to be extended

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Impact Report 9: 2020 session likely to be extended

 

As lawmakers continue to debate over the details of the 2020 budget package, many signs are pointing to an extended 2020 legislative session. FICPA’s Governmental Affairs team has a new update on all of the bills that stand to impact the CPA profession, including new uncertainty around the deregulation package and sunset review legislation.

Also in this week’s IMPACT Report:

  • Bill Tracking Updates
  • New FICPA Podcast: Senator Joe Gruters

Sincerely

Justin Thames
Director of Governmental Affairs

Bill Tracking

SB474 – Deregulation of Professions and Occupations by Sen. Albritton

Status: Placed on Calendar, on 2nd reading

 

SB126 – Sales and Use tax by Sen. Gruters 

Status: Favorable by Finance and Tax; YEAS 8 NAYS 0. Now in Appropriations

 

SB616 – Background Screening by Rep. Powell

Status: Introduced – SJ 47

 

HB6021 – Corporate Income taxes by Rep. Eskamani

Status: Introduced – HJ 258

 

SB740 – Real Estate by Rep. Diaz

Status: Introduced- SJ 56

 

SB450 – Whistleblower’s Act by Sen. Brandes

Status: Introduced -SJ 34

 

HB707 – Legislative Review of Occupational Regulations by Rep. Renner

Status: Referred to Governmental Oversight and Accountability; Appropriations; Rules

 

HB1141 – Taxation of Real Property by Rep. Caruso

Status: Introduced -HJ 100

 

SB1140 – Public Accountancy by Sen. Gruters

Status: Placed on Calendar, on 2nd reading

 

SB1526 – Food Donation Programs by Sen. Albritton

Status: Introduced -SJ 112

 

SB1238 – Regulatory Reform by Rep. Diaz

Status: Introduced -SJ 90

 

HB963 – Consumer Data Privacy by Rep. Santiago 

Status: Introduced -HJ 83

 

HB7095 – Adoption of the Internal Revenue Code for Purposes of the Corporate Income Tax by Rep. Avila

Status: Placed on Special Order Calendar, 03/05/20

 

HB 7097 – Taxation by Rep. Avila

Status: Placed on Special Order Calendar, 03/05/20

Other Weekly News and Highlights:

New podcast! Director of Governmental Affairs, Justin Thames, speaks with FICPA member & State Senator Joe Gruters about his service in the Florida Senate, leadership positions, and key policy issues for the 2020 legislative session. LISTEN HERE!


Follow Us On Twitter!

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Florida CPA/PAC Needs You DONATE ONLINE

Check out the new video from the Florida CPA/PAC to see our legislative efforts on your behalf, and consider contributing to the Florida CPA Political Action Committee here.

Please note: contributions are strictly voluntary and are not deductible for federal tax purposes. The Florida CPA/PAC is an entity completely separate from the FICPA. The Florida CPA/PAC is supported solely by the voluntary contributions of members of the FICPA and others

Impact Report 8: “CPA bill” passes House

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Impact Report 8: “CPA bill” passes House

 

FICPA Director of Governmental Affairs Justin Thames has an update from week 8 of the legislative session, including the “CPA bill,” deregulation bills, and sunset review legislation. Plus, Justin recaps what happened at recent meetings of the Florida Blockchain Taskforce & Board of Accountancy.

Also in this week’s IMPACT Report:

  • Bill Tracking Updates
  • FICPA Presents at Blockchain Taskforce Meeting

Sincerely

Justin Thames
Director of Governmental Affairs

Bill Tracking

SB474 – Deregulation of Professions and Occupations

Status: CS/CS/CS by Appropriations read 1st time

 

SB126 – Sales and Use tax

Status: Favorable by Finance and Tax; YEAS 8 NAYS 0. Now in Appropriations

 

SB616 – Background Screening

Status: Introduced – SJ 47

 

HB6021 – Corporate Income taxes

Status: Introduced – HJ 258

 

SB740 – Real Estate

Status: Introduced- SJ 56

 

SB450 – Whistleblower’s Act

Status: Introduced -SJ 34

 

HB707 – Legislative Review of Occupational Regulations

Status: CS passed; YEAS 85 NAYS 29

 

HB1141 – Taxation of Real Property

Status: Introduced -HJ 100

 

SB1140 – Public Accountancy

Status: On Committee agenda– Rules, 03/02/20, 12:00 pm, 110 Senate Building

 

SB1526 – Food Donation Programs

Status: Introduced -SJ 112

 

SB1238 – Regulatory Reform

Status: Introduced -SJ 90

 

HB963 – Consumer Data Privacy

Status: Introduced -HJ 83

 

HB7095 – Adoption of the Internal Revenue Code for Purposes of the Corporate Income Tax

Status: Introduced -HJ 601

 

HB 7097 – Taxation

Status: CS by- Appropriations Committee; YEAS 25 NAYS 4

Other Weekly News and Highlights:

FICPA Presents at Blockchain Taskforce Meeting

On February 21, the FICPA represented the profession at the Florida Blockchain Taskforce meeting. Some of the main topics discussed at the meeting included blockchain growth opportunities in state and local governments, and a master plan to work toward development of task force deliverables. We also heard a legislative update including details about the Technology Innovation Bills (HB 1391 & SB 1870) and how they may affect the Blockchain Taskforce.

We are seeking an extension to the Taskforce and potential reauthorization through HB 1077 and SB 1404, which comprise one of the DFS agency bills this year. These two bills include provisions to re-authorize the Taskforce until January 2021 in order to fully investigate the emerging technology and develop high-quality recommendations. In addition to last week’s presentation, the profession is represented on the Task Force by FICPA member Gary Ruderman, CPA.

You can watch the full meeting video here.


Follow Us On Twitter!

Click on Each Twitter Handle to Follow Us

Florida CPA/PAC Needs You DONATE ONLINE

Looking for a way to get involved and make a positive difference in the political process? Make a financial contribution to the Florida CPA/PAC. Your assistance helps us educate lawmakers on issues that affect CPAs, support pro-CPA candidates, and maintain relationships with those in Tallahassee who can stand up for accounting and business professionals. Learn more and donate at FICPA.org/PAC!

Please note: contributions are strictly voluntary and are not deductible for federal tax purposes. The Florida CPA/PAC is an entity completely separate from the FICPA. The Florida CPA/PAC is supported solely by the voluntary contributions of members of the FICPA and others

Impact Report 7: Updates on Tax Packages, Deregulation, & More

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Impact Report 7: Updates on Tax Packages, Deregulation, & More

 

The FICPA Governmental Affairs team is tracking hundreds of bills this legislative session, and this week, Justin Thames has an update on the progress of some of the most important for CPAs to be aware of – including the House and Senate tax packages, deregulation, sunset review, and more.

Also in this week’s IMPACT Report:

  • Bill Tracking Updates
  • Journal of Accountancy Podcast: What’s next for potential CPA licensure changes
  • AICPA Issues Report for CIRAs – ASC 606

Sincerely

Justin Thames
Director of Governmental Affairs

Bill Tracking

SB474 – Deregulation of Professions and Occupations

Status: Now in Appropriations

 

SB126 – Sales and Use tax

Status: On Committee agenda– Finance and Tax, 02/13/20, 12:30 pm, 401 Senate Building

 

SB616 – Background Screening

Status: Introduced – SJ 47

 

HB6021 – Corporate Income taxes

Status: Introduced – HJ 258

 

SB740 – Real Estate

Status: Introduced- SJ 56

 

SB450 – Whistleblower’s Act

Status: Introduced -SJ 34

 

HB707 – Legislative Review of Occupational Regulations

Status: Original reference(s)- removed: Appropriations Committee. Referred to- Calendar

 

HB1141 – Taxation of Real Property

Status: Introduced -HJ 100

 

SB1140 – Public Accountancy

Status: Favorable by Commerce and Tourism; YEAS 5 NAYS 0. Now in Rules

 

SB1526 – Food Donation Programs

Status: Introduced -SJ 112

 

SB1238 – Regulatory Reform

Status: Introduced -SJ 90

 

HB963 – Consumer Data Privacy

Status: Introduced -HJ 83

Other Weekly News and Highlights:

Journal of Accountancy Podcast: What’s next for potential CPA licensure changes  

A new model proposed by the National Association of State Boards of Accountancy (NASBA) and the AICPA is designed with an eye on the future for newly-licensed CPAs. Carl Mayes, CPA, AICPA associate director–CPA Quality & Evolution, provides background on the project and a look ahead to 2020.

https://www.journalofaccountancy.com/podcast/new-cpa-licensure-model.html  

 

AICPA Issues Report for CIRAs – ASC 606 

The AICPA Center for Plain English Accounting has issued a report on key aspects of the application of FASB ASC 606 to CIRAs. You can read the report here.


Follow Us On Twitter!

Click on Each Twitter Handle to Follow Us

Florida CPA/PAC Needs You DONATE ONLINE

Looking for a way to get involved and make a positive difference in the political process? Make a financial contribution to the Florida CPA/PAC. Your assistance helps us educate lawmakers on issues that affect CPAs, support pro-CPA candidates, and maintain relationships with those in Tallahassee who can stand up for accounting and business professionals. Learn more and donate at FICPA.org/PAC!

Please note: contributions are strictly voluntary and are not deductible for federal tax purposes. The Florida CPA/PAC is an entity completely separate from the FICPA. The Florida CPA/PAC is supported solely by the voluntary contributions of members of the FICPA and others

Impact Report 6: House Tax Package Released

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Impact Report 6: House Tax Package Released

 

Week five of the 2020 legislative session is in the books, and the House has released its new tax package proposal. FICPA Director of Governmental Affairs Justin Thames has an update on what the package includes, how it might change as the Senate considers its own legislation, and some key differences between the House and Senate budgets.

Also in this week’s IMPACT Report:

  • Bill Tracking Updates
  • Florida House Tax Package includes $100 million in cuts
  • Journal of Accountancy Podcast: What’s next for potential CPA licensure changes

Sincerely

Justin Thames
Director of Governmental Affairs

Bill Tracking

SB474 – Deregulation of Professions and Occupations

Status: Now in Appropriations

 

SB126 – Sales and Use tax

Status: On Committee agenda– Finance and Tax, 02/13/20, 12:30 pm, 401 Senate Building

 

SB616 – Background Screening

Status: Introduced – SJ 47

 

HB6021 – Corporate Income taxes

Status: Introduced – HJ 258

 

SB740 – Real Estate

Status: Introduced- SJ 56

 

SB450 – Whistleblower’s Act

Status: Introduced -SJ 34

 

HB707 – Legislative Review of Occupational Regulations

Status: Original reference(s)- removed: Appropriations Committee. Referred to- Calendar

 

HB1141 – Taxation of Real Property

Status: Introduced -HJ 100

 

SB1140 – Public Accountancy

Status: Favorable by Commerce and Tourism; YEAS 5 NAYS 0. Now in Rules

 

SB1526 – Food Donation Programs

Status: Introduced -SJ 112

 

SB1238 – Regulatory Reform

Status: Introduced -SJ 90

 

HB963 – Consumer Data Privacy

Status: Introduced -HJ 83

Other Weekly News and Highlights:

Florida House Tax Package includes $100 million in cuts

On Tuesday, the House Ways and Means Committee released its annual tax cut proposal. The proposal includes a reduction of the Business Rent Tax from 5.5 percent to 5.4 percent and a reduction of the Communication Services Tax from 4.93 percent to 4.42 percent. Read a summary of the tax package prepared by government watchdog Florida TaxWatch here.

Download the full tax package proposal here.

 

Journal of Accountancy Podcast: What’s next for potential CPA licensure changes

A new model proposed by the National Association of State Boards of Accountancy (NASBA) and the AICPA is designed with an eye on the future for newly licensed CPAs. Carl Mayes, CPA, AICPA associate director–CPA Quality & Evolution, provides background on the project and a look ahead to 2020.

https://www.journalofaccountancy.com/podcast/new-cpa-licensure-model.html

Florida CPA/PAC Needs You DONATE ONLINE

The Florida CPA/PAC stands up for the interests of CPAs by educating legislators on key issues, supporting pro-CPA candidates in elections, and forging connections with lawmakers in Tallahassee. But we’re only successful with your support. Make a voluntary donation to the Florida CPA/PAC and help us strengthen the position of CPAs across the state. Learn more at FICPA.org/PAC

Please note: contributions are strictly voluntary and are not deductible for federal tax purposes. The Florida CPA/PAC is an entity completely separate from the FICPA. The Florida CPA/PAC is supported solely by the voluntary contributions of members of the FICPA and others

Impact Report 5: Finalized Budget Proposals and Bill Updates

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Impact Report 5: Finalized Budget Proposals and Bill Updates

 

As week four of the 2020 legislative session comes to a close, the House and Senate have finalized their budget proposals and have begun to review bill proposals. FICPA’s Director of Governmental Affairs, Justin Thames, has an update on the status of many of the most notable bills.

Also in this week’s IMPACT Report:

  • Bill Tracking Updates
  • Annual Conformity Bill Update
  • Deregulation Bill Update
  • Public Accountancy Bill Update

Sincerely

Justin Thames
Director of Governmental Affairs

Bill Tracking

SB474 – Deregulation of Professions and Occupations 

Summary: Deletes the requirement that a yacht broker maintain a separate license for each branch office; specifies that the failure to repay certain student loans is not considered a failure to perform a statutory or legal obligation for which certain disciplinary action can be taken; revises licensure requirements for engineers who hold specified licenses in another state; provides that certain cosmetology services may be performed in a location other than a licensed salon under certain circumstances.

Status: Pending reference review under Rule 4.7(2) – (Committee Substitute)

 

SB126 – Sales and Use tax 

Summary: Revises the definition of the term “retail sale”; renames the term “mail order sale” to “remote sale” and revises the definition; revises conditions under which certain dealers are subject to sales tax levies and collection; provides that certain marketplace providers are subject to registration, collection, and remittance requirements for sales taxes.

Status: Introduced – SJ 13

 

SB616 – Background Screening 

Summary: Prohibits employers from excluding applicants from an initial interview for employment under certain conditions; provides a civil penalty; provides applicability; provides exceptions; requires the Department of Economic Opportunity to enforce the act.

Status: Introduced – SJ 47

 

HB6021 – Corporate Income taxes 

Summary: Repeals provisions relating to corporate income taxes imposed, automatic refunds, & downward adjustments to tax rates.

Status: Introduced – HJ 258

 

SB740 – Real Estate

Summary: Creates the “Florida Real Estate Management Corporation Act”; requires a written contract with the Department of Business and Professional Regulation; prohibits the management corporation from exercising certain authority assigned to the board of directors; provides that the board, rather than the department, receive complaints and investigate and deter the unlicensed practice of real estate.

Status: Introduced- SJ 56

 

SB450 – Whistleblower’s Act 

Summary: Revises the actions that an agency or independent contractor is prohibited from taking against an employee who participates in protected activity or discloses certain information; specifies that whistleblower remedies and protections do not apply to certain persons; revises applicability of provisions relating to investigative procedures upon receipt of whistleblower information; revises investigative procedures in response to retaliatory actions.

Status: Introduced -SJ 34

 

HB707 – Legislative Review of Occupational Regulations

Summary: Authorizes schedule for the systematic review of occupational regulatory programs; authorizes Legislature to take certain actions before scheduled repeal of occupational regulatory program; provides regulation of occupation to state if such occupation’s regulatory program has been repealed through this act; provides schedule of repeal for occupational regulatory programs.

Status: On Committee agenda– Health and Human Services Committee, 02/06/20, 12:00 pm, Morris Hal

 

HB1141 – Taxation of Real Property

Summary: Exempts from sales & use tax certain property that is rented, leased, subleased, or licensed to specified small business; provides application procedures; requires DOR to approve or deny such application within specified time period; provides requirements for DOR & small business; provides for expiration of approval letter; provides renewal procedures.

Status: Introduced -HJ 100

 

SB1140 – Public Accountancy 

Summary: Requires certain applicants to not be licensed in any state or territory in order to be licensed by endorsement; provides license renewal requirements for nonresident licensees; requires that a majority of the hours required for continuing education include specific content; authorizes certain Florida certified public accountants to apply to the Department of Business and Professional Regulation to have their license placed in a retired status; provides that retired licensees are not required to maintain continuing education requirements, etc.

Status: Favorable by Commerce and Tourism; YEAS 5 NAYS 0. Now in Rules

 

SB1526 – Food Donation Programs 

Summary: Creates an agricultural commodity donation tax credit; authorizes the Department of Agriculture and Consumer Services to adopt rules; revises the department’s powers and duties relating to school food and other nutrition programs; deletes a provision authorizing district school boards to opt out of implementing universal school breakfast programs; requires the department to annually allocate to participating sponsors a reimbursement in addition to the sum appropriated for the Florida Farm to School Program if certain conditions are met; requires the department to develop the Florida Gleaning Support Grant Program, etc. APPROPRIATION: $1,650,000

Status: Introduced -SJ 112

 

SB1238 – Regulatory Reform 

Summary: Establishes the Red Tape Reduction Advisory Council within the Executive Office of the Governor; requires an agency adopting a rule to submit a rule replacement request to the Administrative Procedures Committee; requires the committee to examine rule replacement requests and existing rules; requires the Administrative Procedures Committee to establish a regulatory baseline of agency rules; provides that a proposed rule may not cause the total number of rules to exceed the regulatory baseline, etc.

Status: Introduced -SJ 90

 

HB963 – Consumer Data Privacy 

Summary: Prohibits use of personal data contained in public records for certain marketing, soliciting, & contact without person’s consent; requires operator of certain website or online service to establish designated request address & provide specified notice regarding collection & sale of consumer information; prohibits sale of consumer information upon request of consumer; requires DLA to adopt rules; provides for injunctions & civil penalties.

Status: Introduced -HJ 83

Other Weekly News and Highlights:

Deregulation Bills on our Radar

We’ve been closely monitoring two bills regarding the “sunset” and “sunrise” review of occupations and professions, including the CPA profession. The sunset review bill, HB 707, was last heard on January 16, where it was favorable by a 22 to 1 vote. It was heard in the House Health and Human Services Committee yesterday where the bill sponsor, Representative Paul Renner, discussed his desire to have a structured review for all occupational licenses. The last time he presented the bill, he clarified that he believes it’s not a deregulation bill, but simply uses a sunset to force structured review. Meanwhile, the “sunrise” review bill, HB 1155, was favorable with a 10 to 2 vote. This bill, sponsored by Representative Hage, expands the current laws that created a process to review any regulation of a previously unregulated profession or occupations to now include a review of any expansion of regulation for an existing regulated profession or occupation. For more updates on these bills, be sure to follow our weekly bill tracker.

 

Advocacy At Work

State Representative Cyndi Stevenson, CPA and FICPA President-CEO Deborah Curry, CPA, CGMA

FICPA President-CEO Deborah Curry, CPA, CGMA, State Representative Mike Caruso, CPA, FICPA Director of Governmental Affairs Justin Thames

 


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What’s the most effective way to ensure the CPA profession is represented in the legislative session and upcoming 2020 elections? Donating to the Florida CPA/PAC! Your voluntary contributions help us educate lawmakers on the issues affecting CPAs, and also supports our work in identifying and electing pro-CPA and pro-business candidates to office. Learn more and donate at FICPA.org/PAC!

Please note: contributions are strictly voluntary and are not deductible for federal tax purposes. The Florida CPA/PAC is an entity completely separate from the FICPA. The Florida CPA/PAC is supported solely by the voluntary contributions of members of the FICPA and others

Impact Report 4: New Bills and Board of Accountancy Updates

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Impact Report 4: New Bills and Board of Accountancy Updates

 

As week three of the 2020 legislative session comes to a close, subcommittee meetings and hearings are winding down as bills begin to work their way into House and Senate review. FICPA’s Director of Governmental Affairs, Justin Thames, has an update on the status of many of the most notable bills (including the 2020 tax package) along with news from the Board of Accountancy.

Also in this week’s IMPACT Report:

  • Bill Tracking Updates
  • Deregulation Bill heard in Committee – HB 1193
  • IRS Announces New Form 1040-SR as an Alternative Filing Option for Seniors
  • FICPA Member and Former State Representative Recognized

Sincerely

Justin Thames
Director of Governmental Affairs

Bill Tracking

SB474 – Deregulation of Professions and Occupations

CS by Innovation, Industry, and Technology read 1st time

 

SB126 – Sales and Use tax

Introduced – SJ 13

 

SB616 – Background Screening

Introduced – SJ 47

 

HB6021 – Corporate Income taxes

Introduced – HJ 258

 

SB740 – Real Estate

Introduced- SJ 56

 

SB450 – Whistleblower’s Act

Introduced -SJ 34

 

HB707 – Legislative Review of Occupational Regulations

Favorable by Commerce Committee; YEAS 22 NAYS 1. Now in Health and Human Services Committee

 

HB1141 – Taxation of Real Property

Introduced -HJ 100

 

SB1140 – Public Accountancy

On Committee agenda– Commerce and Tourism, 01/28/20, 1:30 pm, 110 Senate Building

 

SB1526 – Food Donation Programs

Introduced -SJ 112

 

SB1238 – Regulatory Reform

Introduced -SJ 90

 

HB963 – Consumer Data Privacy

Introduced -HJ 83

Other Weekly News and Highlights:

Deregulation Bill heard in Committee – HB 1193

On January 28, House Bill 1193 was heard in committee. According to the bill sponsor, Representative Ingoglia, this is almost the exact same bill as last year, with a few exceptions. He says the goal of this bill is to “address excessive regulation, while reducing barriers to entry.” The bill was reported favorably and is now in the Commerce Committee. At this time, the CPA profession is not affected by this bill, but we will continue to monitor it and keep you updated through our bill tracker.

 

IRS Announces New Form 1040-SR as an Alternative Filing Option for Seniors

The IRS has released Form 1040-SR, a new tax filing form featuring larger print and a standard deduction chart in order to make it easier for older Americans to read and use. All lines and checkboxes on Form 1040-SR mirror the Form 1040, and both forms use all the same attached schedules and forms. Taxpayers born before Jan. 2, 1955, have the option to file Form 1040-SR whether they are working, not working, or retired. In addition, married people filing a joint return can use the Form 1040-SR regardless of whether one or both spouses are age 65 or older or retired. Seniors can use Form 1040-SR to file their 2019 federal income tax return, which is due April 15, 2020. Read the full article about the new form on the IRS website here.

 

FICPA Member and Former State Representative Recognized

This week, FICPA member and former state Representative, Michael Bileca, received the 4th Annual J. Stanley Marshall Award for being a “Education Innovator” by the J. Stanley Marshall Center for Educational Options at The James Madison Institute in Tallahassee. The free market think tank had this to say about Bileca, “Over his time in office, Rep. Bileca showed great leadership on a number of major legislative initiatives, including civics education, the Reading Scholarship for early elementary students, the Gardiner Scholarship for special needs students, and a number of other school choice measures.”

Photo: Lt. Governor Janette Nunez and Former Representative Mike Bileca, CPA

Florida CPA/PAC Needs You DONATE ONLINE

What’s the most effective way to ensure the CPA profession is represented in the legislative session and upcoming 2020 elections? Donating to the Florida CPA/PAC! Your voluntary contributions help us educate lawmakers on the issues affecting CPAs, and also supports our work in identifying and electing pro-CPA and pro-business candidates to office. Learn more and donate at FICPA.org/PAC!

Please note: contributions are strictly voluntary and are not deductible for federal tax purposes. The Florida CPA/PAC is an entity completely separate from the FICPA. The Florida CPA/PAC is supported solely by the voluntary contributions of members of the FICPA and others

Impact Report 3: Movement on Wayfair, Sunset Review, & Deregulation Bills

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Impact Report 3: Movement on Wayfair, Sunset Review, & Deregulation Bills

 

Even though the legislative session is just getting started, there’s no shortage of bills making their way through both chambers. FICPA’s Governmental Affairs team has an update on where key bills – including sunset review & deregulation matters – stand right now.

Also in this week’s IMPACT Report:

  • Bill Tracking Updates
  • Sunset Review Bill Heard in Committee – HB 707
  • IRS Commissioner Speaks to Florida CPAs
  • IRS Opening 2019 Tax Filing Season for Individual Filers

Sincerely

Justin Thames
Director of Governmental Affairs

Bill Tracking

SB474 – Deregulation of Professions and Occupations

Pending reference review under Rule 4.7(2) – (Committee Substitute)

 

SB126 – Sales and Use tax

Introduced – SJ 13

 

SB616 – Background Screening

Introduced – SJ 47

 

HB6021 – Corporate Income taxes

Introduced – HJ 258

 

SB740 – Real Estate

Introduced- SJ 56

 

SB450 – Whistleblower’s Act

Introduced -SJ 34

 

HB707 – Legislative Review of Occupational Regulations

Favorable by Commerce Committee; YEAS 22 NAYS 1. Now in Health and Human Services Committee

 

HB1141 – Taxation of Real Property

Introduced -HJ 100

 

SB1140 – Public Accountancy

Favorable by Innovation, Industry, and Technology; YEAS 9 NAYS 0. Now in Commerce and Tourism

 

SB1526 – Food Donation Programs

Introduced -SJ 112

 

SB1238 – Regulatory Reform

Introduced -SJ 90

 

HB963 – Consumer Data Privacy

Introduced -HJ 83

Other Weekly News and Highlights:

Sunset Review Bill Heard in Committee – HB 707

On January 16, House Bill 707 was heard in the House Commerce Committee. As Chairman Renner explained, this bill will take occupational licenses and establish a structured review over a 4-year period, with a sunset at the back end. Health and safety are said to be the number one priorities with this bill. “The bill is agnostic; it is not a deregulation bill. It simply uses a sunset as a forcing mechanism to have a structured review.” The bill was reported favorably and will be moving to the Health and Human Services Committee. For more updates on this bill, be sure to follow our weekly bill tracker.

IRS Commissioner Speaks to Florida CPAs

During this month’s FICPA and Florida Bar International Tax Conference in Miami, IRS Commissioner Chuck Rettig addressed 500 CPAs and attorneys and discussed how the passion among his collective “we” at the IRS can make a difference, and that he is a huge advocate for taxpayer service. Rettig shared with the audience that before becoming Commissioner, he practiced as a tax litigation lawyer for 36 years, so he understands what it is like to be on the practicing side of the profession. Rettig said he is honored to be at the IRS to serve our country, and it was clear from his passion that he is leading his dream life at the IRS.

The Commissioner also talked policy, sharing that in 2018, 83.6% of taxpayers were in compliance. He is a supporter of VITA and tax counseling for the elderly and military. He asked that CPAs consider volunteering with VITA or other volunteer programs, as these organizations make a meaningful difference by helping taxpayers remain in compliance. The tax form Schedule 1 now has a new checkbox question: “At any time did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?” This is important for practitioners to ask their clients as all transactions must be reported.

Looking forward, Rettig envisions a more automated future at the IRS, including the use of “chat bots” coming soon to those that have internet access and want to ask questions. The IRS currently accommodates 6 languages, but Retting’s plan is to add services in additional foreign languages so that the IRS is more accessible and compliance rates increase.

 

IRS Opening 2019 Tax Filing Season for Individual Filers

The Internal Revenue Service confirmed that the tax season will start for individual filers on Monday, Jan. 27, 2020, with the deadline to file 2019 tax returns and pay any tax owed being Wednesday, April 15, 2020. The Jan. 27 opening date was set to ensure the security and readiness of key tax processing systems. “The IRS encourages everyone to consider filing electronically and choosing direct deposit. It’s fast, accurate and the best way to get your refund as quickly as possible,” the agency announced. IRS tax help is available 24 hours a day on IRS.gov, the official IRS website, where you can find answers to tax questions and resolve tax issues online. Read the full announcement here.


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The 2020 legislative session is in full swing. Make sure that CPAs’ interests are known and understood by donating to the Florida CPA/PAC! Your voluntary donation helps us educate members of the legislature on the potential impact any given bill could have on the CPA profession. Your support is even more important as the next election cycles approach. Learn more and donate now at www.ficpa.org/PAC!

Please note: contributions are strictly voluntary and are not deductible for federal tax purposes. The Florida CPA/PAC is an entity completely separate from the FICPA. The Florida CPA/PAC is supported solely by the voluntary contributions of members of the FICPA and others
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