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VSCPA Website Enhancements Require New Login Information
As the first step of a large-scale website enhancement project, www.vscpa.com has undergone changes that require VSCPA members (and nonmember customers) to create new login accounts. Once you’ve updated your login account, you will be able to change your password at any time and make other real-time updates to your account, which means you’ll be able to use www.vscpa.com to its fullest — any time, day or night.
Update your login account now! Simply click here and indicate whether you are a member or nonmember. Then follow the instructions on each page to create your new account. If you have any questions throughout the process, we are here to help. Simply contact the Member Services Hotline at (800) 733-8272 or e-mail us membership@vscpa.com.
Tax Conformity Calamity
Tax conformity is in real danger. The tax conformity bill, SB 545, will die as of midnight tonight. Now the issue moves into the budget conference process, and the House and Senate are not on the same page moving into this process regarding conformity.
Normally, conformity moves through the General Assembly without a hitch. This year is different. Read a blog post on www.CPACafe.com detailing conformity at length, including hurdles the bill has encountered this year. What happens if Virginia doesn't conform? VSCPA member and guest blogger Art Auerbarch, CPA, also addresses the possible consequences on the blog.
Now is the time to contact your legislator regarding conformity. Read our request for members’ advocacy and the VSCPA’s position letter, and urge your legislator to support conformity.
2010 Virginia General Assembly Session Watch
Visit the 2010 Session Watch page on www.vscpa.com for details on more than 100 bills the VSCPA is monitoring, including those bills the VSCPA has taken action on. Or, check out the latest Session Watch e-mail for details. Not receiving these updates? Contact the Member Services Hotline at (800) 733-8272 or e-mail us membership@vscpa.com.
At the heart of the VSCPA are individual members who drive the organization. But who are the VSCPA members? You. Your colleagues. Your peers. We want to know more.
Enter the "I Am the VSCPA" Video Contest by April 28, 2010, for a chance to win one of two $500 gift cards. Simply create a quick video describing who you are and post it as a video response to the announcement video on our YouTube channel. Check out www.vscpa.com/iam for rules and contest details.
The VSCPA is 100 years old. It's time for a facelift.
We're currently freshening up our brand to ensure the look and feel of our website and communications is modern and effective, and reflects our top goal: to be our members' connection to professional success. Over the next few months, www.vscpa.com and other VSCPA communications will look a little different. If you have questions about the new look, feel free to contact the Member Services Hotline at (800) 733-8272 or e-mail us membership@vscpa.com.
Virginia to Participate in IRS State Income Tax Levy Program
The Virginia Department of Taxation (TAX) announced Virginia will now participate with the Internal Revenue Service (IRS) in the State Income Tax Levy Program (SITLP). SITLP is an automated levy program administered by the IRS that uses state income tax refunds as the levy source for outstanding federal tax liabilities. All other state agency and locality set-off debts must be satisfied before the IRS levies. Read more at www.vscpa.com, or read a recent blog post on this topic from VSCPA member and tax expert Art Auerbach, CPA.
Virginia TAX Announces Corporate e-File
Virginia corporate e-File is live! The Virginia Department of Taxation (TAX) announced the implementation of a new Corporate Income Tax e-File Program. The program is available for return processing for Tax Year 2009 Corporate 500 returns. Filers can file their federal and state returns jointly, or state-only returns. For information on approved software vendors and the ERO Handbook, please visit www.tax.virginia.gov.The agency's e-File staff is also available to provide assistance with this new filing program. E-mail your help requests to bus_efile@tax.virginia.gov.
On February 24, the U.S. Securities and Exchange Commission (SEC) issued a statement laying out its position regarding global accounting standards and reiterating its commitment that a single set of high-quality globally accepted accounting standards would benefit U.S investors. The SEC also directed its staff to execute a Work Plan, the results of which will aid the Commission in its evaluation of the impact that the use of IFRS by U.S. companies would have on the U.S. securities market. Read more at www.vscpa.com.
Input Sought on IRS Proposal to Disclose Uncertain Tax Positions in Tax Returns
The American Institute of CPAs (AICPA) is developing a response to the Internal Revenue Service’s (IRS) Announcement 2010-9, proposing that companies disclose uncertain tax positions on their annual income tax return filings. CPAs who would like to share their thoughts and concerns on this matter should e-mail comments to MemberinputonAnnouncement2010-9@aicpa.org. Submissions will be reviewed and considered as the AICPA works on its response. The AICPA will not be able to address each submission directly.
Welcome, New VSCPA Members!
We
are pleased to welcome new members who joined in February 2010. As always,
we would like to thank all members and their employers for
the continued support of the CPA profession.
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