Professional Issues & Standards
Articles
Getting your CPE ducks in a row!
Footnote
March 26, 2025
Learn about important news from the Minnesota Board of Accountancy. Monthly topics include rules, CPE requirements, CPA exam information, licensing, and more.
What's in a (firm) name?
Footnote
February 10, 2025
Learn about important news from the Minnesota Board of Accountancy. Monthly topics include rules, CPE requirements, CPA exam information, licensing, and more.
Navigating Employee Retention Credit rejections
January 24, 2025
Two common letters that businesses might receive are the 105C ERC rejection letter and the 6577C ERC partial rejection letter. Helping clients understand these letters and knowing how to respond can be crucial for securing the credits to which their business is entitled promptly.
Recent changes to the Research and Development tax credit
October 28, 2024
The Research and Development (R&D) tax credit has been a crucial incentive for U.S. businesses to bolster their innovation and technological advancement. However, recent changes to the R&D tax credit have brought significant modifications to its application and eligibility criteria.
Takin' care of business — before Dec. 31!
Footnote
October 8, 2024
Learn about important news from the Minnesota Board of Accountancy. Monthly topics include rules, CPE requirements, CPA exam information, licensing, and more.
IRS plan for settling Employee Retention Credit claims finally implemented
September 5, 2024
The IRS is continuing to turn up the pressure on Employee Retention Credit (ERC) claims to sort out fraudulent applications from legitimate ones. The recent updates are signs of relief for businesses that have been patiently waiting for their money.
Update on noncompete agreements in Minnesota
September 3, 2024
There's been a number of changes to laws around noncompetes — here's what you need to know.
Ch-ch-ch-ch-changes: Name changes and license renewal
Footnote
August 1, 2024
Learn about important news from the Minnesota Board of Accountancy. Monthly topics include rules, CPE requirements, CPA exam information, licensing, and more.
A closer look at the BOA’s retired status
Footnote
June 4, 2024
Learn about important news from the Minnesota Board of Accountancy. Monthly topics include rules, CPE requirements, CPA exam information, licensing, and more.
Critical new employment changes employers should be aware of
May 16, 2024
Two new employment changes will affect most employers this summer — changes to noncompete agreements and overtime pay. See how these changes may impact you.
Navigating the digital landscape
May 1, 2024
Learn why having an ADA compliant website is a big deal, who needs to get on board, what the requirements involve, the consequences of ignoring the ADA and why it's essential to keep up with the standards.
Helping companies address workforce supply and demand challenges with statewide growth initiatives
April 23, 2024
Explore state strategies for addressing remote workers and other workforce trends to help you and your clients understand the latest statewide economic initiatives.
Minnesota paid sick and safe leave
Footnote
April 10, 2024
Learn how employers can stay compliant with the new Minnesota Earned Sick and Safe Leave Act.
What’s important for business transitions in Minnesota?
February 19, 2024
Learn about key issues for owners in their succession and transition planning from the University of Minnesota Extension’s he Minnesota Business Succession and Transition Study.
Preparing for an ERC audit
February 7, 2024
It’s the season for IRS ERC exams — are you or your client prepared?
IRS announces second phase
February 1, 2024
The IRS released a new program allowing businesses that incorrectly filed for an Employee Retention Credit (ERC) refund to return 80% of the funds without interest or penalties. Learn how to help your clients navigate the process.
IRS intensifies efforts to combat ERC scams — consider getting a second opinion
October 26, 2023
The IRS is still encouraging businesses to file legitimate claims, but it is asking businesses to review their claims with a trusted tax professional who actually understands the complex ERC rules. See how getting a second opinion can help.
The dark side of artificial intelligence
October 25, 2023
While AI has revolutionized countless industries (accounting included), it’s not all sunshine and rainbows. The very attributes that make AI so helpful — its ability to learn, adapt and act independently — can also be harnessed for malicious purposes.
Safeguarding financial professionals
October 2, 2023
As October marks Cybersecurity Awareness Month, it's essential for financial professionals — especially CPAs, CFOs and financial controllers — to sharpen their defenses against cyber threats.
Renew and report by Dec. 31
Footnote
October 1, 2023
Learn about important news from the Minnesota Board of Accountancy. Monthly topics include rules, CPE requirements, CPA exam information, licensing, and more.
The Employee Retention Credit: The latest scrutiny
August 31, 2023
With IRS backlog reduced, additional focus is now on supply chain qualifications, misleading ads and growing fraud risk
The case of the Crappy chappie
Footnote
August 1, 2023
MNCPA member Chuck Selcer shares his knowledge about ethics requirements and laws with unique humorous fictitious stories.
R&D Tax Credit — Section 174 Updates
July 31, 2023
Learn about R&D Tax Updates and how firms should move forward with their clients.
Don’t succumb to the ERC misinformation epidemic
July 5, 2023
There has been an increase in buzz around the Employee Retention Credit, including a lot of misinformation. Learn how to approach the ERC in a way that benefits your clients and ensures compliance.
CPA Evolution explained
Footnote
May 30, 2023
By now you’ve heard the CPA Exam will be changing — some may even say evolving. In fact, the change is called CPA Evolution. Let’s examine how the exam is changing and how to plan for the changes.
Tax issues you might have missed during year-end close
Footnote
May 30, 2023
The IRS officially kicked off the tax filing season Jan. 23, 2023, and issues continued to arise in the tax world. Here are some of the key issues you might have missed.
CPA exam set to change in 2024
Footnote
January 31, 2023
Spread the word! For those who have already taken one or multiple parts of the exam, encourage them to complete (and pass) all four sections of the current exam to get ahead of the change.
MNCPA sets 2023 legislative agenda
Footnote
January 31, 2023
Federal conformity and private letter rulings are once again at the top of the list
MNCPA to explore broadening CPA licensure options
Footnote
January 31, 2023
The board approved an initiative to draft legislation to broaden options to CPA licensure requirements in Minnesota while maintaining rigorous testing requirements.
What’s in a name? Turns out, a lot
Footnote
January 31, 2023
The BOA has spelled out rules regarding how a firm can be named in Minnesota Rules 1105.6300 and 6400. We’ll break it down for you right here.
Forgetting firm permit renewal: How bad is it?
Footnote
November 29, 2022
Forget the small stuff. Here’s why forgetting to renew your firm permit for 2023 is a very big deal.
AICPA issues proposed revisions to Statements on Standards for Tax Services
October 3, 2022
The AICPA has released an exposure draft of significant proposed changes to the Statements on Standards for Tax Services. The AICPA states it will consider all comments received by Dec. 31, 2022.
ASU, ASC and SAS, oh my
Footnote
September 30, 2022
There’s much to be understood about ongoing standards changes, including some that are already effective. Here’s a look at a handful of these A&A changes that may affect the work you do.
SQMS No. 1: First steps
Footnote
September 30, 2022
SQMS No. 1 deals with a firm’s responsibilities to design, implement and operate a system of quality management for its accounting and auditing practice.
What are you waiting for? Renew and report already!
Footnote
September 30, 2022
The the BOA encourages CPAs to renew and report as soon as possible. Doing so ensures that mistakes can be caught and fixed ahead of Dec. 31.
2022 legislative session review
Footnote
July 28, 2022
Find out about key issues the MNCPA is monitoring at the Capitol. Stay current on legislative news and events with stories, tips and grassroots involvement.
Automatic CPA certificate revocation is a thing of the past
Footnote
July 28, 2022
Legislation passed in 2022 eliminates the automatic revocations requirement after two years of not renewing and allows the lapsed certificate to show up as expired.
CPA Evolution will impact today’s interns; how can organizations prepare?
June 10, 2022
Leaders may want to engage with human resource teams to consider how CPA Evolution will impact their approach to talent acquisition moving forward.
Carrying credits back? We’ve got your back
Footnote
May 25, 2022
While fixing a CPE shortage isn’t the end of the world, it’s still a compliance mishap. Don’t delay; the noncompliance fees add up.
Join the MNCPA!
MNCPA membership grows as you do, helping you to be the best accounting professional you can be at every stage of your career.
Become an MNCPA member and:
- Pay less to attend many CPE and YPG events.
- Save up to $150 on conferences with the VIP rate.
- Access more than 20 free CPE credits annually.
Plus, new associate members receive a deep discount on the required ethics course for licensure.
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