Legislative / Regulatory

CPAs: Beware of misinformation about mandatory ‘tax CPE requirements’

We have received calls and notes from CPAs in Pennsylvania and Maryland about a recent mailing from the Maryland Society of Accountants. The mailing apparently went to lists of tax preparers and CPAs in Maryland and surrounding states.

Msa_letter The mailing talks about the proposed federal and state legislation we reported on in this blog but has one little twist: It emphasizes "continuing education will be mandatory" and makes a statement that the list was "furnished" to the MSA -- the implication being that some regulator or government agency wanted them to alert everyone to these pending changes and that they should sign up for some of the MSA's upcoming courses.

We have checked with the Maryland State Board of Public Accountancy, the Comptroller of Maryland, the Internal Revenue Service and the consumer rights group referred to in the mailing and none of these organizations "furnished" any names or lists to the MSA.

Furthermore, the federal and state legislation is far from enacted. The federal legislation is still in the earliest stages (and could be years away) and the Maryland legislation was withdrawn in 2007, which means the earliest it could be effective is in 2009 or 2010. Rest assured that we will be working to make sure there is no impact on licensed CPAs due to our rigorous standards and existing continuing education training.

By the way, you may be interested to know that we have heard your requests for good, quality tax training and we have a brand new "nuts and bolts" course deigned to get you and your staff ready for the next tax season. The course is titled MACPA's 1040 Fast Track and will be offered on Nov. 1 and 2 of this year. It is created by well-known instructor/developer, Bob Jennings, CPA, CFP. We had it custom-developed just for CPAs and their staff. You asked for it and we finally got it. We cannot wait to hear your comments ...

Here is a link to our new "nuts & bolts" Tax Course offered at the Columbia Hilton on November 1st & 2nd, 2007 MACPA's 1040 Fast Track  - A Comprehensive Individual Tax Seminar for CPAs and Their Staff and included in the two-day price is CCH's 1040 Express Answers (2008) - Income Tax Compliance and Plannng for the 2007 Tax Year.