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MT DoR Reminds Pass-Through Entities of Proper Treatment of Pass-Through Entity Tax Overpayments

May 02, 2024

As the department processes the over 48,000 Forms PTE received for tax year 2024, one of the most common adjustments we have made is to tax returns pushing overpayments of pass-through entity tax (PTET) payments to affected owners.

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Lockman Honored by UM College of Business for Decades of Dedication to VITA Program

April 22, 2024

MTCPA member Clem Lockman honored

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America's Top 200 CPAs

April 15, 2024

On the list from Montana: Rick Reisig, Nik Wong, Jeremy Hauk

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The New Standards for Tax Services

April 12, 2024

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.

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5 Ways to Ease Burdens to CPA Licensure

April 10, 2024

While becoming a CPA should require effort, too many barriers to obtaining a CPA license prevents bright, promising talent from making progress in their career. As a leader or member of the CPA profession, you can play a role in helping to alleviate some of the most common barriers to licensure. Here’s how.

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MTCPA Joins AICPA in Letter to Voice Concerns with BOI Rollout and Request Delay of Enforcement

April 09, 2024

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.

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Department of Revenue Launches Simplification Hub Website and Releases Draft 2024 Montana Form 2

April 05, 2024

Legislation to simplify Montana’s tax laws went into effect on 1/1/24. It significantly alters Montana’s individual income tax system by making changes to filing statuses, tax brackets, and the calculation of Montana taxable income. The DoR has created a hub on their webpage with information about the new law, including resources and commonly asked questions.

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Accounting+ 2023 Annual Report

Member Only Content March 19, 2024

In 2023, the second year of Accounting+, the Center for Audit Quality (CAQ) continued to spearhead this national campaign and platform, which focuses on raising awareness of an accounting career at the high school and early college levels. MTCPA partners with the CAQ on this effort.

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State CPA Societies in Action: Montana Society of CPAs

March 12, 2024

State CPA Societies in Action is a series of articles spotlighting the varied educational, advocacy, networking and professional activities of the state CPA societies across the U.S.

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Common Errors To Avoid When Filing Form PTE

March 08, 2024

With the Form PTE original due date around the corner, the department has compiled a list of common errors to avoid when filing the form. These errors are items that have been identified by the preparer community and by the department while processing returns.

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NVCPA Peer Review Program

March 06, 2024

The Nevada Society of CPAs administers peer review for the state of Montana. A firm that provides attest services to a client is required to undergo peer review. It is important you are aware of the Montana requirements.

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Latest BOI resources from AICPA

February 16, 2024

Resources on Beneficial Ownership Information (BOI)

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Legislative updates for corporations

February 14, 2024

There are two new provisions affecting C corporations for tax periods after December 31, 2022.

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Are the Montana Tax Rebates Taxable?

January 30, 2024

With tax filing time right around the corner, you may be wondering if your Montana income tax rebate or property tax rebate you received in 2023 are taxable on your 2023 tax return.

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Increased Late Filing Penalties for Forms W-2 and Forms 1099 Reporting Mineral Royalties

January 29, 2024

The 68th Montana Legislature passed Senate Bill 303, increasing the late filing penalties for Form W-2 and Form 1099 reporting Montana mineral royalties. These penalties go into effect for forms due in 2024.

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Current BOI resources for members; additional resources being developed

January 25, 2024

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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Proposal Notice MAR Notice No. 42-1074

January 12, 2024

MAR Notice No. 42-1074 – pertaining to Livestock Reporting Deadline Revisions to Implement House Bill 66 (2023)

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Gianforte names members to property tax task force

January 11, 2024

The bipartisan group is charged with developing recommendations for 2025 Legislature.

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Navigating the New Terrain: The Evolution of Accounting in the Cyber Commerce Era

January 09, 2024

The advent of cyber commerce has initiated a transformative era in the world of accounting. This digital revolution, marked by the emergence of e-commerce platforms, cryptocurrencies, and blockchain technologies, has not only expanded the accounting landscape but also introduced novel challenges and opportunities for accounting professionals.

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Unveiling the Diverse World of Accounting: More Than Just Taxes

January 09, 2024

When we think of accounting, images of tax forms, calculators, and number crunching often come to mind. However, this perception barely scratches the surface of what accounting truly entails.

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