ncsa blog

  • Monday, August 08, 2016 4:15 PM | NCSA Website Admin (Administrator)

    Thirty-five NCSA leaders gathered on Friday, July 22nd at Pinewood Country Club in Asheboro for our annual Leadership Day. The day started with Louise Pistole leading a discussion of the need for chapters to update their bylaws if necessary as directed by the Board of Directors.

    J.R. Lawson presented our new membership recruiting campaign and the great brochure and mailers that he designed along with David Rollins and the Membership Committee.

    Ron Powell spoke on the chapter CPE submission requirements briefly, followed by Louise Pistole addressing the group again this time with a focus toward re-energizing our connection with the National Society of Accountants and the benefits we have as members of an Affiliated State Organization.

    President Holmes spoke a few moments about our Legislative Committee and our legislative lobbyist Henry Jones and the work he does to keep in the loop on the activities in the Legislature. Jim challenged every member to make a contribution to the legislative fund which helps ensure that we can fund any challenge to our rights.

    David Hooker then took the floor to discuss the implementation of the Quality Assurance Review program and the progress being made in helping us all become more proficient professionals with our financial statement presentations.

    The last hour of the day was taken by Jonathan Burris of Burris Consulting Group who guided the attendees through the “Personality Compass”. Each person answered a brief survey that helped to determine their individual personality traits and then every- one was grouped by like personalities. Overwhelmingly the group was dominated by East and North personalities that are proven leaders, accurate, detailed, and steady. These accountants don’t delegate and can be abrasive. Jonathan directed us all to try to consider the people with whom we are dealing and try to engage them in the way that suits their style, leading to better results from our interactions both professional and personal. If you would like to review the test here is a link:

    http://www.nelms.org/pdfs/2014/degroff2014si/The%20Personality%20Compass.pdf

    As President Elect I appreciate all the attendees and ask that you consider attending this worthwhile function next year. There is no cost to attendees and our chapters are asked to contribute to offset the expenses of the day. I appreciate all the chapter that have already contributed.

    Our quote for the day was from Mother Teresa: “You can do what I cannot do. I can do what you cannot do. Together we can do great things.” This fits our NCSA membership completely; we are unstoppable together!


  • Monday, August 08, 2016 12:52 PM | NCSA Website Admin (Administrator)

    HB 533 provides a procedure for a taxpayer to seek review of the DOR’s conclusion that the statute of limitations bars a refund claim. This legislation requires the DOR to deny a refund and send the taxpayer a notice of refund denial when it determines that an amended return or a claim for refund is filed outside the statute of limitations for refunds. In addition, the legislation provides a taxpayer whose request for refund was denied because the determination that the amended return or claim for refund was file outside the statute of limitations a right to contest that determination.

    A taxpayer that believes it has overpaid its taxes may request a refund of the overpayment by taking one of the following actions within the statute of limitations for obtaining a refund:

    1.    File an amended return reflecting an overpayment.

    2.    File a claim for refund.

    The general statute of limitations for obtaining a refund of an overpayment is the later of 3 years after the due date of the return or 2 years after payment of the tax. If a refund is requested within the statute of limitations and the DOR denies or reduces the refund, the taxpayer may request an administrative review. If the DOR issues a Notice of Final Determination that sustains the denial or reduction, the taxpayer may seek judicial review.

    This new law includes two provisions that allow a taxpayer to seek judicial review of the DOR’s determination that a request for refund was filed outside the statute of limitations.

    1.     Refund denied by the DOR on or after June 30, 2016:  A taxpayer that receives a notice of refund denial based on the DOR’s statute of limitations may contest the DOR’s determination by filing a petition for a contested tax case hearing at the Office of Administrative Hearings. The petition must be filed within 60 days of the date of the notice of denial.

    2.     Statute of limitations determination made by the DOR prior to June 30, 2016: A taxpayer that received a notification from the DOR that an amended return of claim for refund was not filed within the statute of limi- tations and could not be processed by the DOR may contest the DOR’s determination by filing a petition for a contested tax case hearing at the Office of Administrative Hearings.

  • Monday, August 08, 2016 12:48 PM | NCSA Website Admin (Administrator)

    On July 22, all IRS Greensboro telephone numbers changed.  The old 574 exchange became the 690 exchange for all numbers. They converted to a new system on July 21.  With the new system, voice mail messages convert to an e-mail to the recipient to facilitate responses.

  • Monday, August 08, 2016 11:44 AM | NCSA Website Admin (Administrator)

    According to HB 1030, the standard deductions for 2016 are $16,500 joint and surviving spouse, $13,200 for HOH, and $8,200 for single and separate. The standard deductions for 2017 are $17,500 joint and surviving spouse, $14,000 for HOH, and $8,250 for single and separate.

    Exempt from sales and use tax are:

    ·    Inspection fees required by law.

    ·    Services by a relative.

    ·    Services to resales issues on real property completed within 12 months of occupancy.

    ·    Cleaning of real property.

    ·    Services on roads, driveways, parking lots, and sidewalks.

    ·    Removal of waste, trash, debris, and snow from personal property except from portable toilets.

    ·    Home inspections for sale of real property.

    ·    Alteration or repair of clothing.

    ·    Pest control services.

    ·    Moving services.

    ·    Self-service car wash.

  • Sunday, July 31, 2016 10:00 AM | NCSA Website Admin (Administrator)

    Videos of the recent NCSA Leadership Networking Conference; held on July 22, 2016, at the Pinewood Country Club in Asheboro, NC, have been added to the "Members Only" tab of our website.

    James P. Upton, III - NCSA President Elect, facilitated this year's event. After some colorful introductions the group got to work with the Chapter's and State's business for the year.

    Listing of topics covered in the videos:

    Chapter By-Laws Prototype

    Membership Recruitment

    Chapters Cup Criteria

    Chapter CPE Requirements

    NSA Member Benefits

    Legislative Update and Challenge

    Quality Assurance Review Assistance

    The Leadership Compass - What type of leader are you?

  • Thursday, July 28, 2016 2:01 PM | NCSA Website Admin (Administrator)

    The attendees of the Leadership Networking Conference received the following list of NCSA Committees; their chairmen and members. Review the list for your assignment or call a chairman & volunteer today.


  • Tuesday, July 26, 2016 11:50 AM | NCSA Website Admin (Administrator)

    Leadership Day Attendees,

    Thank you for attending our event last Friday. We have had so much positive feedback. I hope that the information is something that you can take back to your chapters and to your respective practices and apply successfully to be better leaders. As was discussed at the meeting I am emailing you a link to the AP manual that you can share with your chapter officers as well as a pdf file containing the updated manual. In addition many of you requested the sample chapter bylaws in Word doc format so I have attached that as well. Further I have attached David Hooker’s QAR presentation so that you may share that with your chapters.

    Just so we don’t forget here are some reminders from our Leadership Day.

    • 1.       Email your chapter bylaws (after updating if necessary) to Louise Pistole at pistole9@windstream.net by 9/30
    • 2.       Send your chapter year-end (7/1/15-06/30/16) financial report to John Blanton at jblanton1948@gmail.com as soon as possible
    • 3.       Send your 2016-2017 dues paid roster to Marsha Wheeler at mwheeler14@nc.rr.com by 8/31, make sure chapter meeting notices are going out to the board and Marsha.
    • 4.       Remember to send out the membership recruiting cards and seek referrals from your chapter members. If you have questions or need more clarification contact J.R. Lawson at jrnsat@gmail.com Encourage chapter only members to join NCSA at the state level.
    • 5.       Schedule David Hooker to speak further with your chapter regarding the further implementation of the QAR program. Call David at 336-841-1040 or by email at dlhacct@triad.rr.com
    • 6.       Remind chapter members to pay dues online, invoices will be sent at the end of the month. If they need help with paying online or using the website contact Candace Cansler at (828) 695-2520 or by email to candace@ncsa1947.org
    • 7.       Encourage everyone to donate to the Legislative Fund, donations can be made online at www.ncsa1947.org or by check mailed to the NCSA office.
    • 8.       Make sure your chapter is following proper CPE procedures. Contact Ron Powell at ronald.d@powellaccounting.com with questions or clarifications.
    • 9.       Here is the direct link to download the AP Manual (no login required) : http://www.ncsa1947.org/resources/PDF/apmanual.pdf

    Thanks for your service to your chapters and to NCSA.

    James P. Upton, III

    Accountant

    Enrolled to Practice before the Internal Revenue Service

        

     

    Upton Accounting Inc.

    Seagrove Professional Village

    508 North Broad Street (US Hwy 220 Business)

    Seagrove, North Carolina 27341-8583

     

    Phone (336) 873-7690 Fax (336) 873-7650

    Email: jamesupton@rtmc.net


  • Wednesday, July 13, 2016 12:53 PM | NCSA Website Admin (Administrator)

    NCSA Life Member Glenwood Sellars of Wilmington passed away on Thursday, June 16, 2016. Here are some highlights from his obituary as published in The Star News of Wilmington.

    Glenwood graduated from New Hanover High School in 1938. He joined NC National Guard 120th Infantry his last two years of high school. Because of a baseball injury to his eye during his youth, he was not selected for military duty in the Army.

    He was therefore assigned to the US Army Reserve to guard the gold at Ft. Knox, Kentucky. It was here that President Franklin D. Roosevelt visited and said to him, "How are you soldier?" to which he responded, "Fine, Thank you, Sir."

    Glen worked with Merita Bakery in Wilmington and then was owner and operated Sellars Accounting Service until his retirement. He was an Enrolled Agent to practice before the Internal Revenue Service. Glen studied finance and accounting at UNC-Chapel Hill and Appalachian State University. He was a life member of N.C. Society of Accountants, Wilmington Optimist Club where he was President from 1994-1995 and a volunteer with Optimist Little League Baseball and he was a member of the American Legion. 

    Glen was a faithful Carolina Fan. He spent many happy days playing golf, his favorite sport at Municipal Golf Course in Wilmington. He enjoyed travel, music, playing the piano and he and his wife danced on several continents on their vacations. As a young boy, he would ride a barge up the Cape Fear River to Fayetteville with his PaPa to deliver dry goods to businesses along the way.

    When arriving in Fayetteville, they would send carrier pigeons to his mother to let her know of their safe arrival. He and his sisters and brothers grew up in the Church of The Good Shepherd. After he married he joined Sunset Park Baptist Church where he was baptized. He was survived by one daughter. See more at: http://www.legacy.com/obituaries/starnewsonline/obituary.aspx?pid=180379634#sthash.L67NfDGm.dpuf


  • Wednesday, July 13, 2016 12:42 PM | NCSA Website Admin (Administrator)

    Check your information in the Directory. If it is not correct, send changes to Candace by the end of the month. That is the cutoff so that the Directory can be printed and distributed in the Fall.

  • Wednesday, July 13, 2016 12:41 PM | NCSA Website Admin (Administrator)

    In IR-2016-87, the IRS announced that the publicly available data on electronically filed Forms 990 now will be available in a machine-readable format through Amazon Web Services (AWS). The publicly available data does not include donor or other personally identifiable information.

    The data include Forms 990, 990-EZ, 990-PF, and related schedules with the exception of certain donor information. The IRS also redacts certain personally identifiable tax-identification numbers to prevent the data’s misuse. Data from Form 990-N is not available, but it can be accessed through irs.gov.

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