Regulation
Articles
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.
Is your firm’s new quality management system on target for Dec. 2025?
October 31, 2024
Tips to catch up on implementing the new quality management standards that firms offering audit and accounting services need to put into practice.
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.
Navigating the evolving complexity of R&D in recent judicial decisions
July 29, 2024
Navigating the complexity of the Research & Development (R&D) tax credit has never been easy, but recent judicial decisions have only made it more complicated.
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.
Help your builder and developer clients earn energy efficiency tax credits
May 2, 2024
IRS Section 45L provides a generous federal tax credit for the construction of energy efficient homes. Learn the ins and outs of 45L to help your clients.
Overview of the Domestic Content Bonus Credit
April 25, 2024
As part of Minnesota's ambitious clean energy initiatives, the Domestic Content Bonus Credits provided by the Inflation Reduction Act (IRA) of 2023 represent a significant opportunity to further enhance the state's renewable energy projects.
Minnesota Office of Cannabis Management may begin accepting adult-use cannabis applications sooner than expected
February 13, 2024
On Jan. 30, 2024, the Minnesota Office of Cannabis Management (OCM) provided a public update on the office’s rulemaking and application process for the adult-use cannabis market in Minnesota.
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.
Opening the nexus chamber of secrets
Footnote
May 30, 2023
This article analyzes how Wayfair impacted state income tax and sales tax nexus and concludes with a decision roadmap that tax advisers and taxpayers can apply when approaching state tax nexus issues.
IRS rulemaking continues to be called into question
Footnote
January 31, 2023
So long as the IRS and/or Treasury Department enforce rules that have not met the rulemaking requirements of the APA, taxpayers will continue to have the opportunity to seek relief in the courts.
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.
Latest peer reviews show continued improvement
Footnote
November 29, 2022
The MNCPA Peer Review Committee has compiled the results of engagement reviews and system reviews from the past three years to analyze trends and highlight areas for continued improvement.
Tax implications of remote workers
Footnote
November 29, 2022
Adopting a co-employer model is one way to manage the tax compliance and HR requirements associated with remote workers.
179D and 45L technical update
October 10, 2022
The Inflation Reduction Act offers tax savings opportunities for real estate clients.
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.
Minnesota Department of Revenue is committed to engagement amid change
Footnote
September 30, 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.
Minnesota legalizes THC edibles
Footnote
September 30, 2022
Following the July 1, 2022 legalization of unregulated THC products derived from hemp in Minnesota, here are some factors employers should keep in mind.
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.
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.
A look at 3 timely transfer pricing topics
Footnote
May 25, 2022
Investment and focus on transfer pricing now will help companies avoid potential high costs and disruption from controversy with tax authorities later.
An overview of charitable contributions
Footnote
May 25, 2022
For tax advisers, it is important to be aware of the requirements and nuances that accompany donations.
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.
Signs of progress on our journey to normal
Footnote
May 25, 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.
MNCPA Perspectives blog posts
BOI reporting lagging ahead of deadline
October 11, 2024
The clock is ticking for certain businesses to file new reporting data with the Financial Crimes Enforcement Network (FinCEN). Noncompliance can cause...
Update: CPA licensure bills at the Minnesota Legislature
May 16, 2024
I write today with an update about the MNCPA bills at the Minnesota Legislature seeking to broaden the pathways to CPA licensure and tackle the talent pipeline challenge...
CPA licensure and mobility: A deeper, updated look
May 15, 2024
With a growing number of states, including Minnesota, Hawaii, Arkansas, Oregon and California, now discussing or actively pursuing changes to broaden the pathways to CPA licensure ...
A clearer pathway to CPA licensure vital to the financial health of Minnesota nonprofits
March 20, 2024
The current shortage of CPAs has hit the nonprofit sector especially hard because nonprofits cannot easily increase their funding to pay higher rates for the CPAs that are available ...
Member testimony on Senate File 1660
March 14, 2024
The following texts are excerpts from each individual’s prepared remarks...
Pathways CPA licensure bill advances in Senate
March 8, 2024
The MNCPA-backed bill to broaden the pathways to CPA licensure, advanced in the Minnesota Senate today. Watch the hearing now...
Connect with legislators concerning CPA pathways licensure bills
February 27, 2024
Can one voice have an influence? Yes! When you share how an issue affects you, your business or your clients, it elevates an issue for legislators...
CPA licensure bills return to Minnesota Legislature
February 14, 2024
The 2024 Minnesota legislative session convened this week and bills introduced last year automatically rolled over into the second year of the biennium...
Reaching high school students: Ideas from CPAs
February 13, 2024
As part of our annual MNCPA Tax Survey, we recently asked members a score of questions, including their ideas about what they have done or suggest for encouraging more students to get involved in the accounting industry...
Recent grads dish on 150 hours, CPA licensure
December 13, 2023
Hear from six current and recent students from two Minnesota universities to see how they view the accounting profession, the requirements around accreditation and how these weighed into their professional choices...
We must change the conversation around pathways to CPA licensure
October 5, 2023
It is no secret the field of accounting has both pipeline and diversity problems. There are many actions that should be taken to address these problems, and one of those is to follow Minnesota’s lead...
The CPA pipeline: Students are the future
August 29, 2023
The 2023 MNCPA Annual Meeting this month provided an opportunity to reflect on challenges by discussing areas of the profession that still need addressing, such as the CPA pipeline...
Experiential learning: An evolution in how knowledge is obtained by prospective CPAs
August 15, 2023
As the AICPA and NASBA consider new ways to enhance the attractiveness of the profession to counter a drop in accounting student enrollments and retain them...
Why should a school district care about CPA licensure?
August 4, 2023
Working in public education, I am acutely aware of how difficult it is to hire quality staff, but I never took a step back to think about what this means in other sectors throughout Minnesota...
Broadening the pathways to CPA licensure discussion will continue
May 22, 2023
The MNCPA board-approved bill, with bipartisan support in both the Minnesota House and Senate, did not become law this year, but this is not the end of this bill...
Auditors: You’re in luck
August 30, 2022
A $4 billion industry! Minnesota generates more charitable gambling income than any other state, according to a recent Gambling Control Board (GCB) Gaming News issue...
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