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NewsFlash Feb. 6, 2014
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Chief Justice Ricky Polston
On Feb. 3, Former State Representative Carlos Lopez-Cantera was sworn in as Florida's 19th lieutenant governor by FICPA member and Florida Chief Justice Ricky Polston. To read more, see the upcoming issue of IMPACT Report – the FICPA's new advocacy e-newsletter. IMPACT Report is complimentary to all Florida CPA/PAC members. If you're not already a part of the PAC, click here to join now.
For non-PAC members interested in receiving IMPACT Report, please email email@example.com.
Be an Influencer
To develop strong grassroots relationships with members of the Florida House of Representatives, Senate and Cabinet, the FICPA has created the Key Person Contact (KPC) Program. KPCs are CPAs who have personal relationships and are centers of influence with elected officials.
KPCs act as liaisons between the FICPA and state officials, creating a line of communication to relay technical and general information about legislative issues affecting the CPA profession. The 2014 Legislative Session is just around the corner – now is the time for you to let us know who you know.
More information about this and other programs: Rivers Buford, FICPA Director of Governmental Affairs | (800) 342-3197, Ext. 203 | (850) 224-2727, Ext. 203 | firstname.lastname@example.org
Florida to Pilot IRS Identity Protection Program
As part of its comprehensive identity theft strategy, the IRS is offering a limited pilot program to help taxpayers who filed their returns last year from Florida, Georgia and the District of Columbia. This additional layer of security for identity theft would be available to taxpayers who need an Electronic Filing PIN (e-file PIN) to submit their tax return this year.
Under the pilot, any taxpayer who filed a tax return from one of those three locations last year and obtains an e-file PIN this year from the IRS may be offered an opportunity to apply for an Identity Protection PIN (IP PIN). The IRS encourages taxpayers who are offered this opportunity in this pilot program to complete the process to get the IP PIN.
The IRS selected Florida, Georgia and the District of Columbia for the pilot because those are the locations with the highest per-capita percentage of tax-related identity theft. The pilot is an expansion of the current IP PIN program, which (generally) has been used only for victims of identity theft. The pilot is not limited just to identity theft victims.
Taxpayers selected for the pilot will be asked a series of questions online to verify their identity. The IRS will not issue an IP PIN to a taxpayer unless that person’s identity has been verified. Filing a return without an IP PIN should not delay processing the return.
Most taxpayers do not need an e-file PIN to file their taxes. In some cases, taxpayers must obtain an e-file PIN if they need to e-file a tax return or other electronic forms, but do not have their Self-Select PIN or Adjusted Gross Income from their 2012 tax return to verify their identity. In these cases, taxpayers may request an e-file PIN on the IRS website.
Following the pilot, the IRS will carefully assess the results and performance before deciding how to proceed with the program.
National Meet the Firms Week
Ready to connect with leading accounting students and promote your upcoming summer and fall internships and entry-level jobs? Register for National Meet the Firms Week!
Students spend hours researching career opportunities online, so don't miss your chance to get in front of thousands of students from every accounting program in the country!
Pay Trends for 2014: Salary Increases Hold Steady
Average base pay increases for 2014 will remain at 3 percent for the second year in a row in the U.S. – roughly one percentage point below pre-recession levels – according to the seventh annual Compensation Planning Survey by Buck Consultants. However, more employees are likely to receive less than 3 percent than receive more than 3 percent because of greater pay differentiation based on performance, a finding also noted recently by other experts.
“Employers continue to be cautious with their salary budgets,” said David Van De Voort, a Buck principal. “What’s more, performance ratings got tougher and average promotional pay increases stagnated.”
Buck's survey of U.S. employers, completed in August 2013, looks at pay increases in 2012 and 2013 and planned increases for 2014. Among the key findings:
Important CPA Health Insurance Enrollment Deadlines
The CPA Insurance Marketplace is the latest FICPA benefit that’s saving our members time and headaches while shopping for and managing insurance. Enrollment is open now!
Make note of these important private-exchange application deadlines to secure your desired coverage-effective date.
The CPA Insurance Marketplace is available to sole practitioners, individuals and employees of members. Employers can set up defined contribution strategies, allow employees to shop for their own benefits and make one consolidated payment each month.
Enroll now at the link below or visit our CPA Insurance Marketplace FAQ page to learn more. Welcome to Insurance Choices Made Easy!
CPAs in Industry Conference
Join us at the CPAs in Industry Conference on March 20-21, 2014 to stay on top of late-breaking developments that give you a competitive edge in your specialized industry. You can earn up to 17 CPE credits and choose from two convenient locations: Tampa or Ft. Lauderdale.
Enjoy informative sessions from nationally recognized speakers such as Robert Durak, CPA, CGMA at this enriching conference. Join Durak in his session Financial Reporting Framework for Small to Medium Sized Entities (1 AA) to discuss important topics such as the AICPA's new financial reporting framework; key financial reporting topics; and how to begin implementation for SMEs. Durak brings a unique inside perspective from his role as director of private company financial reporting for the AICPA. Don't miss this engaging discussion from one of the AICPAs brightest.
Plus, more great topics to choose from:
Where can you find training tailored to your needs and earn 17 hours of CPE? Only at the CPAs in Industry Conference! Register today.
Health Care Industry Conference
Your clients have been watching the Patient Protection and Affordable Care Act (PPACA) closely. The rules are changing, the oversight is increasing and the system is getting more complex. CPAs have opportunities to provide value-added services, including:
The 2014 FICPA Health Care Industry Conference prepares you for a changing market. Sessions will cover the employer perspective on health care reform, the changing role of the CFO and more.
Add to your benefit by attending our four-hour ethics course and the two-hour, pre-conference workshop, “Medicare Cost Reporting Reimbursement Strategy,” on Wednesday, April 23. Can you provide the PPACA guidance your clients are seeking?
Take this test and find out now.
How did you do? To learn more about technology, the FICPA invites you to attend a technology course, conference or webinar, or get involved in the Business Technology Section and FICPA Connect. Why not sign up today?
Look for the next issue of FICPA NewsFlash Feb. 20, 2014.
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LAST UPDATED 2/5/2014