Articles | Tennessee Society of CPAs

SEC Approves a New PCAOB Quality Control Standard

September 9, 2024 The Securities and Exchange Commission today approved the Public Company Accounting Oversight Board’s (PCAOB) new quality control (QC) standard and related amendments to its standards, rules, and forms.

Tennessee Department of Revenue Announces Special Procedure for Schedule G Refunds

September 4, 2024 The Tennessee Department of Revenue recently announced it has developed a special procedure regarding franchise tax property measure (Schedule G) refunds.

SEC Approves New and Updated PCAOB Audit Standards and an Amendment to the PCAOB’s Contributory Liability Rule

August 20, 2024 The Securities and Exchange Commission today announced that it has approved two Public Company Accounting Oversight Board (PCAOB) proposals updating audit standards regarding general responsibilities of the auditor and use of technology-assisted analysis in conducting an audit.

State CPA Society Awards $280,000 in Scholarships

August 20, 2024 The Tennessee Society of CPAs (TSCPA) is pleased to award $280,000 in scholarships through the TSCPA Educational & Memorial Foundation to 128 Tennessee accounting students.

IRS issues important interim guidance on employer matching contributions made to retirement plans related to employee student loan payments

August 19, 2024 The Internal Revenue Service today issued interim guidance for sponsors of 401(k) and similar retirement plans that provide, or wish to provide, matching contributions based on eligible student loan payments made by their participating employees.

IRS reopens Voluntary Disclosure Program to help businesses with problematic Employee Retention Credit claims; sending up to 30,000 letters to address more than $1 billion in errant claims

August 15, 2024 The Internal Revenue Service announced today a limited time reopening of the Voluntary Disclosure Program to help businesses fix incorrect Employee Retention Credit claims as the agency continues compliance work.

AICPA, state CPA societies nominate accounting for STEM designation

August 13, 2024 An AICPA letter supported by every state CPA society and numerous other accounting stakeholders asks the Department of Homeland Security (DHS) to add accounting to the department's STEM Designated Degree Program List.

IRS Issues Updates to Individual and Business Transcripts

August 8, 2024 The IRS recently announced that as of July 26, 2024, Get Transcripts tools on IRS.gov have been removed.

IRS moves forward with Employee Retention Credit claims: Agency accelerates work on complex credit as more payments move into processing; vigilance, monitoring continues on potentially improper claims

August 8, 2024 The Internal Revenue Service announced today additional actions to help small businesses and prevent improper payments in the Employee Retention Credit (ERC) program, including accelerating more payments and continuing compliance work on the complex pandemic-era credit that was flooded with claims following misleading marketing.

TSCPA Welcomes 11 Successful Candidates Who Recently Passed the CPA Exam

August 6, 2024 See the list of Successful Candidates who recently passed the CPA Exam.

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