FY11 Board of Governors
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Daniel Black, CPA President Daniel Black & Assoc.
Stanley Berman, CPA Vice-President Global Impact
Abdool Akhran, CPA Treasurer Bert Smith & Co.
Hillary Coley, CPA Secretary Trout Unlimited
John D. Griffin, CPA Immediate Past President
AARP
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Kenneth Emson, CPA
Community Foundation for the National Capital Region
Brenda Hargett, CPA American Academy of Otolaryngology
Malcolm Karl, CAE
National Association of College Stores
Andrew Lang, CPA
LangCPA Consulting, LLC
R. Michael Sorrells, CPA
Jacqueline Bryant, CPA
Tate & Tryon CPAs
Joseph S. Drew, Ph.D.
University of Virginia
William Eisig, CPA
BDO USA, LLP
Daniel Lynch
KForce Professional Staffing
Uzma Malik-Dorman,CPA
Thompson Cobb Bazilio
John Wooldridge, CPA
Larson Allen LLP
Colleen Smith, CPA National Geographic Society Jenny Herrera, CPA Rubino & McGeehin, Chtd
Deborah Nixon, CPA
Ernst & Young LLP |
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Dear Friends,
On February 1st, Councilmembers Yvette Alexander (Ward 7) and Mary Cheh (Ward 3) introduced the Accountant Mobility Act of 2011 (B19-0080). In addition, Councilmembers At-Large Sekou Biddle and Phil Mendelson have already signed on as co-sponsors of this important legislation.
As you may already know, accountant mobility is the ability of a CPA to gain practice privileges outside of their home jurisdiction without obtaining an additional license in the host state in which they will be serving a client or an employer. A national effort has been underway to adopt a uniform system that will allow licensed CPAs the ability to provide services across state lines without unnecessary bureaucratic hurdles.
Being one of the only remaining jurisdictions without mobility, it is imperative that DC joins the rest of the nation in adopting this streamlined system. Without it, DC CPAs and DC-based firms will be left at a competitive disadvantage. Moreover, the failure of this legislation to pass in DC may adversely impact DC based CPA firms as well as licensees with DC clients that have operations in other states. Pennsylvania, Massachusetts and Georgia have already implemented retaliatory provisions that do not allow CPAs licensed in DC to practice under their mobility laws, and it is likely that others will follow suite including our neighbors - Maryland and Virginia.
Many of you have voiced your support of mobility to me during the last two years, and the Society has been working on your behalf to make it happen. Now, we are going to be calling on you to help get us to the finish line. Next week, we will be launching an effort to get DC residents, DC licensed CPAs and those of you who serve DC consumers to take action to advocate for passage of mobility in DC. I know that for many of you this is a busy time, so rest assured that we will make this as simple as possible for you, providing FAQs and sample letters. However, in order to get this legislation passed,the DC Council and the Board of Accountancy WILL NEED TO HEAR FROM YOU!
Please plan to set aside five minutes next week for this effort and watch for additional instruction from me following the Monday holiday. Thank you in advance for taking the time to speak up for the profession. I am confident that DC will pass and benefit from this legislation, as will DC CPAs.
Sincerely,
Kari Bedell
Executive Director
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Upcoming events ______________________________________________________________________
Commitee Meetings
Not For Profit Organization Committee Meeting 2/22/2011 Topic: 2011 Nonprofit Tax Update Speaker: R. Mike Sorrells, BDO USA LLP Location: M & T Bank 1350 I St., NW Lower Level Washington, DC REGISTER
Government Auditing & Accounting Committee Meeting
2/24/2011
Topic: Treasury Issues
Speaker: Richard Gregg, Acting Fiscal Assistant Secretary of the US Treasury
Location: Clifton Gunderson, 4250 N. Farifax Drive, Ste 1020, Arlington, Virginia
Register
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GWSCPA Upcoming CPE
The Ten Tiers of Estate Planning
Location: GWSCPA 1111 19th St., NW #1200 Washington, DC
Register
The CPE Section of our website has just been updated with all the scheduled upcoming classes between now and the end of the year. Be sure to take a look and register. If you have suggestions for a course, don't hesitate to email Brian.
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The Profession AICPA Media Buy Rolls Out
With the new IRS focus on PTIN and tax preparer registration, there has been some valid concern over marketplace confusion if non-CPA accountants start advertising themselves as "registered" as a way to compete with CPAs who do tax work.
Promoting CPAs as the premier providers of tax services is the focus of the AICPA's multiyear campaign. Starting Monday, Feb. 7 through Apr. 15, AICPA banners will be rotating on CNNMoney.com, SmartMoney.com, AARP.com, Bankrate.com and About.com. Then, Feb. 14 through the week of Mar. 7, radio spots will be heard on a host of syndicated radio shows and networks, including the Mark Levin Show, Money Talk with Bob Brinker and the Larry Kudlow Show. This media campaign is sponsored by the AICPA Private Companies Practice Section (PCPS). |
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Regulatory and Legislative News
House Members Launch a Bipartisan Caucus
Reps. Brad Sherman, D-Calif., and Michael Conaway, R-Texas, both CPAs, said they have created the Bipartisan Congressional CPA Caucus in the House to focus on innovative policy approaches to issues that affect CPAs, including tax matters, and to provide input on issues being debated by Congress on which CPAs have particular expertise. (Journal of Accountancy)
Small Businesses push Congress to overturn 1099 rule
Small-business owners appeared before the House Committee on Small Business last week to urge lawmakers to repeal new Form 1099 reporting requirements. Tasks such as adding up purchases and requesting tax IDs from vendors would be overwhelming for many small businesses, witnesses testified. The AICPA supports repeal of the expanded Form 1099 reporting requirements; however, it has asked the Treasury Department for guidance on several pressing issues if the rules are not repealed. Read the AICPA's comment letter on expanded Form 1099 reporting requirements. (CFO.com)
New Service Organization Control Reports Replace SAS 70 reports
As part of the Auditing Standards Board's Clarity Project, guidance on the examination of financial controls at a service organization previously contained in Statement on Auditing Standards (SAS) 70 - Service Organizations has been replaced by Statement on Standards for Attestation Engagement 16. See AICPA for more info.
Senate votes to repeal the requirement on 1099 reporting
The Senate has approved a measure that would repeal the expanded Form 1099 requirements that are part of last year's health care law. The move has broad support because the Form 1099 rules, which are set to require businesses to report any purchases of more than $600 of goods and services from vendors in a year to the Internal Revenue Service, are expected to increase accounting costs for small businesses. The AICPA supports repeal of the expanded requirements; however, it has asked the Treasury Department for guidance on several pressing issues if the rules are not repealed. (Accounting Today)
IRS won't be ready for new Tax-Preparer Rules until 2014
It will take until 2014 for the Internal Revenue Service to implement a program to test, register and monitor all tax preparers, according to a report by the Treasury Department's inspector general for tax administration. The report found that the IRS needs to devote more resources to the program and that it would take three more years before all tax preparers were tested. (The Hill)
Find daily links to news like this on the *NEW* Legislative/Regulatory News section of the GWSCPA website. Sinly login to access this members only professional resource.
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Member News
It's been a busy 2011 so far for firm member Councilor,Buchanan & Mitchell, P.C.
Richard E. Morris, CPA, MST, has been promoted to senior vice president and named to the Board of Directors of Councilor, Buchanan & Mitchell, P.C. effective January 1, 2011, Kurt A. Simmons, MBA has been promoted to senior auditor &
Aleksandar (Sasha) Rakovic, Michael Soule, MSA, and Scott Tompkins, MBA have passed the CPA exam, while Russell C. Conelley, CPA, has passed theCertified Fraud Examiner (CFE) exam.
On February 16th longtime GWSCPA member and Past President Charlie Tate, CPA was honored by Association Trends as 2011 Association Vendor of the Year. ______________________________________________________________________________________
If you have member news, email us by the first of the month.
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For future issues, if you have a topic you'd like to see highlighted, or have an idea for a feature article you'd like to contribute, let us know.
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