Impact Report 7: Updates on Tax Packages, Deregulation, & More
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
Status: On Committee agenda– Finance and Tax, 02/13/20, 12:30 pm, 401 Senate Building
Status: Introduced – SJ 47
HB6021 – Corporate Income taxes
Status: Introduced – HJ 258
Status: Introduced- SJ 56
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
Status: Favorable by Commerce and Tourism; YEAS 5 NAYS 0. Now in Rules
SB1526 – Food Donation Programs
Status: Introduced -SJ 112
Status: Introduced -SJ 90
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.
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