Access the latest MSCPA articles plus other news and events.
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AICPA and NASBA Announce Proposed Changes to the Uniform Accountancy Act
Alternate Pathway to Licensure
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Legislative Update
New Nonprofit Annual Report Filing Requirement Due by May 15th
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BOI Reporting Update
As of Press Time
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Board of Governors Appoints Pipeline Task Force To Consider Alternative Pathway to Licensure
At the December meeting, the Board of Governors approved the formation of a task force to consider an alternative pathway to licensure.
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BOI Updates
On December 3, the U.S. District Court for the Eastern District of Texas halted the implementation of the Corporate Transparency Act (CTA) Beneficial Ownership Information (BOI) reporting requirements.
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BOI Reporting Update & Concerns
FinCEN is now connecting with state societies to understand their pain points associated with filing the beneficial ownership information (BOI) reports. As background, as of July, FinCEN has only received approximately 2.5 million reports of the expected 32.6 million reports for this year. FinCEN is now focusing on raising awareness and also trying to understand any hesitation tax preparers may have in preparing the BOI reports.
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MSCPA & AICPA Continue to Advocate for Accounting as STEM
On August 1, the AICPA and all 54 State CPA Societies, including Mississippi Society of Certified Public Accountants (MSCPA), sent a letter to the Department of Homeland Security (DHS) requesting DHS recognize accounting under the “T” for Technology in Science Technology Engineering Math (STEM) education.
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Mississippi Legislative Session 2024
A Report on Legislative Activities for the MSCPA
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AICPA Spring Council Report
The AICPA 2024 Spring Council meeting was held on Tuesday – Thursday, May 21-23 in Orlando, FL. Those in attendance from the MSCPA were Jerry Goolsby, Jan Lewis, Karen Moody, and myself. This meeting had a lot of information that was discussed and provided to Council and stakeholders.
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MSCPA Joins AICPA in Letter to Voice Concerns with BOI Rollout and Request Delay of Enforcement
In a letter addressed to the U.S. Department of the Treasury and the Financial Crimes Enforcement Network (FinCEN), MSCPA and the AICPA voiced serious concerns regarding the enforcement of the Beneficial Ownership Information (BOI) reporting requirements.
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