News

The AICPA and the National Association of State Boards of Accountancy (NASBA) are seeking input on a proposed competency-based experience model for CPA licensure.

AICPA members and other tax preparers should know that the AICPA has adopted revised Statements on Standards for Tax Services (SSTSs). The new standards were effective January 1, 2024. The AICPA SSTSs serve as the ethical framework for tax professionals and are enforceable tax standards for AICPA members. Many states also adopt the AICPA Standards to cover licensees who prepare tax returns or render tax services.

In a letter addressed to the U.S. Department of the Treasury and the Financial Crimes Enforcement Network (FinCEN), MTCPA and the AICPA voiced serious concerns regarding the enforcement of the Beneficial Ownership Information (BOI) reporting requirements.

Resources on Beneficial Ownership Information (BOI)

As Beneficial Ownership Information (BOI) reporting becomes more pressing for CPAs, their clients and small businesses, here’s a brief outline of some recent activities and AICPA resources that will be available soon.

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