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On Day 2 of Florida's 2025 Legislative Session, the FICPA's priority legislation - CS/SB 160 - unanimously passed the Senate Appropriations Committee on Agriculture, Environment, and General Government. Advancing to a final committee in the Senate this early into Session is a significant accomplishment.

As states explore alternative CPA licensure pathways, CPA society representatives, including the FICPA's Shelly Weir, addressed the misconception that they want to remove the 150-hour requirement during a recent webinar.

The American Institute of CPAs and the National Association of State Boards of Accountancy are seeking comment over the next 60 days on proposed changes to the profession’s model law that would enable an additional path to CPA licensure.

The U.S. Treasury Department on Sunday announced that it will not enforce Corporate Transparency Act reporting requirements against U.S. citizens or domestic reporting companies. The Treasury Department will further be issuing a proposed rulemaking that will narrow the scope of the rule to foreign reporting companies only.

FinCEN on Thursday announced that it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership information (BOI) reports pursuant to the Corporate Transparency Act by the current deadlines.

The FICPA's priority legislation, Senate Bill 160, passed unanimously out of its first committee stop, Senate Regulated industries, on Tuesday. We thank the legislators on the committee for their support. Reaching this step before Session even starts is a fantastic news.

More than 3,500 employees in the Small Business/Self-Employed (SB/SE) division of the IRS will lose their jobs this week, according to an email sent to IRS managers on Wednesday. The Associated Press, The New York Times, and other outlets, citing anonymous sources, reported higher totals of IRS employee terminations.

Following a federal court ruling on Tuesday, the Financial Crimes Enforcement Network (FinCEN) has announced that "for the vast majority of reporting companies, the new deadline to file an initial, updated, and/or corrected BOI report is now March 21, 2025."

A federal district court lifted the last remaining nationwide injunction stopping beneficial ownership information (BOI) filing requirements, but the federal enforcement agency has promised at least a 30-day delay before new filings will be required.

AICPA leaders said Sunday the IRS should consider the needs of taxpayers and preparers as officials make plans to carry out President Donald Trump's direction to cut the federal workforce. "Americans deserve a fully functioning agency that can be respected by taxpayers and their preparers, thereby allowing them to comply with their tax obligations," AICPA President and CEO Mark Koziel, CPA, CGMA, said.

The AICPA and NASBA on Thursday night announced that they “are advancing model legislative language that enables an additional path to CPA licensure.” Specifically, they have asked the Uniform Accountancy Act (UAA) Committee to add a pathway to CPA licensure and provide for individual automatic mobility between states.

The momentum from CPA Day is already driving results. Our priority legislation, SB 160 – Public Accountancy, has been placed on the Senate Regulated Industries Committee agenda for Tuesday, Feb. 18 at 4 p.m., a critical first step in modernizing CPA licensure in Florida.

The PCAOB on Tuesday withdrew its request for SEC approval of rules that would have required registered firms to report a significant new set of firm and engagement metrics. Read more from the Journal of Accountancy.

The FICPA last week honored the graduates of its 2024-25 Leadership Academy during a special celebration at the DoubleTree Hotel in Tallahassee as part of our annual CPA Day at the Capitol.

On Wednesday, Feb. 5, more than 100 FICPA members, volunteer leaders and staff paid visit to the offices of all 160 members of the Florida House and Senate, staging more than 50 meetings with legislators and their aides.

The Financial Crimes Enforcement Network (FinCEN) will consider changes to the beneficial ownership information (BOI) reporting requirements if a court grants the government's request for a stay of a nationwide injunction in a Texas case, according to a motion filed Wednesday. Read more from the Journal of Accountancy.

After a week off thanks to a historic snowstorm in North Florida, the Legislative Update is back with a new edition covering the FICPA’s legislative priorities, our CPA Day at the Capitol and the Florida Legislature’s Special Session.

The AICPA on Thursday released a statement applauding the release of the bipartisan Taxpayer Assistance and Service (TAS) Act discussion draft, containing 65 provisions to meaningfully reduce the burdens on taxpayers and their preparers. The discussion draft, released by Senators Mike Crapo (R-ID) and Ron Wyden (D-OR), addresses critical tax provisions the AICPA has previously advocated for.

The Supreme Court of the United States on Thursday lifted an injunction barring enforcement of the Corporate Transparency Act, but the beneficial ownership information (BOI) reporting freeze remains in effect thanks to a separate injunction in another case.

Ahead of next week's CPA Day at the Capitol and with condo reform in the headlines, FICPA State Legislative Policy Chair Guy Strum joined the Senate Regulated Industries Committee this week, serving on a panel focused on condo law.