TXCPA lobbies for BA only to tsit for exam

Legislative Alert: SB 159 Set for March 7 Hearing Senate Bill 159, legislation allowing CPA candidates and students to begin taking the CPA Exam after completion of 120 semester hours, has been set for a hearing in the Senate Business and Commerce Committee on March 7. This legislation is an important piece of TXCPA’s advocacy efforts and legislative agenda.  Learn more about SB 159 and reach out to your Senator on the committee to let them know how important this bill is to the CPA profession and to TXCPA.   WATCH THE HEARING

TXCPA CPA Pipeline Efforts Shared in Accounting Today TXCPA Chair-Elect for 2023-2024 Mohan Kuruvilla, Ph.D., CPA, and TXCPA President and CEO Jodi Ann Ray, CAE, spoke with Accounting Today about the importance of supporting and growing the CPA pipeline and how our members are engaged in this important area of focus. Check out the articles below! The Pipeline Problem Eight Ways to Fill the Pipeline

Volunteer to Share Your Career Story During CPA Week From March 27-31, TXCPA will work with Texas CPAs and educators to help raise awareness of accounting career opportunities among students. Last fall, we reached nearly 2,000 Texas students during CPA Week. Help us continue to make an impact by getting engaged and involved in this spring’s CPA Week opportunity! Volunteer to visit a Texas classroom or share your career story on social media (#CPAWeek) to showcase the variety of opportunities in the CPA profession. Feel free to share this opportunity with educators in your network. They can visit this link to request a classroom or virtual visit during CPA Week. VOLUNTEER OPPORTUNITIES

District Court Holds IRS Owes Tax Preparers Partial Refund of PTIN Fees Last week, a district court held that the PTIN fees charged by the IRS from 2011 to 2017 were excessive and ordered the IRS to determine an appropriate partial refund of the fees. MORE INFORMATION

Supreme Court Holds FBAR Penalty is Imposed Per Return, Not Per Account The U.S. Supreme Court held Tuesday in a 5-4 decision that the $10,000 penalty for a nonwillful failure to file a Report of Foreign Bank and Financial Accounts (FBAR) for foreign accounts accrues per return, not per account. READ MORE

TXCPA Committee Responds to PCAOB Exposure Draft TXCPA’s Professional Standards Committee issued a letter in response to a Public Company Accounting Oversight Board (PCAOB) exposure draft entitled Proposed Auditing Standard – The Auditor’s Use of Confirmation, and Other Proposed Amendments to PCAOB Standards (proposal | comment). The proposed standard is designed to strengthen and modernize the requirements for the auditor's use of confirmation and would replace AS 2310, The Confirmation Process.

This Week on TXCPA Exchange This week’s most popular posts on TXCPA Exchange led to insightful discussions on a variety of topics, including accounting for inventories, 1033 exchange tax issues, purchase of a CPA practice, residential rental properties, and more! View all the discussion threads here and don’t forget to add a profile photo, update your bio and start participating in Exchange discussions today! JOIN THE CONVERSATION

Virtual Mock CPA Exam on March 24 Students and candidates are invited to participate in a virtual, four-hour mock CPA Exam workshop hosted by TXCPA and Surgent Accounting & Financial Education on March 24 to experience what it's like to sit for any CPA Exam section. Benchmark your readiness to ace the Exam with questions pulled straight from the actual CPA Exam Blueprints. Employers – don’t forget to pass this information along to any future CPAs at your firm or organization!  Registration is required by Tuesday, March 21. For questions, please email Emily Stupnik or call 972-220-0611 ext. 1051.  REGISTER NOW