CPA Cafe: September 2012

Friday, September 28, 2012

Thursday, September 27, 2012

Make Your Voice Heard on VBOA Fee Proposal

In a week and a half, the Virginia Board of Accountancy (VBOA) will begin accepting comments during the final comment period for its updated fee proposal. On Oct. 8, the proposal will be published in the Virginia Register of Regulations, and the comment period will run from then until Nov. 7. Click here to learn how you can comment.

The fee package is on schedule to take effect Jan. 1, 2013. Click here for more details on the changes or click here to read an interview with VBOA Executive Director Wade Jewell about the reasoning behind some of the changes.

Monday, September 24, 2012

Thanks for Giving Back on CPA Day of Service!

The fourth annual CPA Day of Service was a smashing success, and it's all thanks to volunteers like you! CPAs across Virginia took a day to give back to their communities at the end of Virginia CPA Week. It's just another way CPAs help the communities where they live and work.

Here are some pictures from CPA Day of Service! We took some of them ourselves, and some have been emailed to us by members and firms who answered the call and volunteered. If you volunteered on CPA Day of Service and don't see yourself represented here, email your pictures to Tracey Zink or Chip Knighton at the VSCPA!

First up, we have volunteers from Kositzka, Wicks & Company, who cleaned up outside areas at the Carpenter's Shelter in Alexandria:

Volunteers from Watkins Meegan prepared bagged meals at the Embry Food Shelter in Reston:

The Richmond office of BDO, including Kevin Murphy, volunteered with the Comfort Zone Camp:

Volunteers from Valderas & Fishel cleaned up trails for the James River Park System in Richmond:

Volunteers from Harris, Hardy, Johnstone & Co. prepared meals at the Central Virginia Food Bank:

The Richmond chapter of the American Society of Women Accountants (ASWA) did a variety of tasks, including cleaning and ironing donated clothes, at the Sophie House in Glen Allen:

Members of the VSCPA's Thomas Jefferson chapter put together packets for child care providers in Charlottesville:

And finally, VSCPA staff got in on the act, too, holding a book drive for the Children's Museum of Richmond. Here, staff members (clockwise from top left) Rocio Gibbs, Jane Hayes, Jenny Hansen, Laura Cobb, Talley King and Tracey Zink pose with the haul:

Thanks to everyone who took the time to volunteer for CPA Day of Service. We hope to see you again next September!

Monday, September 17, 2012

Happy Virginia CPA Week From the VSCPA!

Virginia CPA Week is here! Gov. Bob McDonnell has issued a proclamation (PDF) recognizing Sept. 16–22, 2012, as Virginia Certified Public Accountants Week.

All week long, the VSCPA will be posting videos of your VSCPA colleagues discussing how they got their start in the accounting profession and what they like the most about their jobs. First up is Kristin White, CPA, of Wells, Coleman & Co.:

To help raise awareness of how CPAs protect Virginia taxpayers, the VSCPA is holding free, CPA-led money management workshops for the public, as well as a sold-out Nonprofit Finance Seminar for non-finance nonprofit executives on Wednesday. And on Friday, CPAs across the state will come together to serve their communities on CPA Day of Service.

Visit VSCPA.com all week long to learn about how your fellow CPAs got started in the profession and what keeps them coming back to serve Virginia taxpayers.

Friday, September 14, 2012

Friday, September 7, 2012

Thursday, September 6, 2012

On September 25 the spotlight will be on Ernie Almonte!

The Virginia Society of CPAs (VSCPA) invites you to take part in an exclusive meet and greet with special guest Ernie Almonte, CPA, MST, CFF, CITP, CGFM on Tuesday, September 25 at the Richmond CPA Center.

This is a FREE special event for VSCPA members and industry friends to meet Almonte - former chair of the American Institute of CPAs, renowned international speaker and, most recently, Rhode Island's gubernatorial candidate. We are so excited to host Almonte at the Richmond CPA Center and for him to meet our members. This is one meet and greet you won't want to miss!

EVENT DETAILS

Date: Tuesday, September 25, 2012
Time: 5:30 - 6:30 p.m.
Location: The Richmond CPA Center, 4309 Cox Road, Glen Allen VA, 23060
Cost: Courtesy of the VSCPA, there is NO COST for you and your guests to attend.

Click here to RSVP now.

Please plan to join us on September 25 with Almonte as he speaks to leadership in the CPA profession and the role of CPAs running for public office and answers your questions one-on-one.

Please RSVP no later than Tuesday, September 21 to attend.

We look forward to seeing you at this exclusive spotlight session!

Wednesday, September 5, 2012

IRS Form 14157: Anonymity Issues?

U.S. Internal Revenue Service (IRS) Form 14157 (PDF), Complaint: Tax Return Preparer, allows taxpayers to report a tax return preparer or tax prep firm for illegal behavior. The form can be submitted anonymously, which critics say increases the potential for abuse. (The form does include an area where taxpayers can include contact information to allow the IRS to follow up with them, but the field is not required.)

Tax preparer Trish McIntire, an Enrolled Agent (EA), raises the following questions:

How can a preparer respond to an anonymous complaint?
Will the IRS initiate an investigation whenever a Form 14157 is filed, or will it take more than one complaint?
When will a preparer be notified that a complaint has been filed against him or her?
If enough Forms 14157 are filed, will the IRS assume there is a real problem?

It's worth noting that Form 14157 has its uses for tax preparers as well — it's the form preparers can use to report that someone else is using their Preparer Tax Identification Number (PTIN) to prepare returns. We should also point out that the VSCPA allows anonymous complaints against CPAs, as do the Virginia Board of Accountancy (VBOA) and the American Institute of CPAs (AICPA). Read the VSCPA's article on the form to learn more about which forms are made public.

What do you think? Does the usefulness of Form 14157 trump the potential for abuse? What other potential problems could the form create?