A Message from the President, February 2017
The new year has arrived and it is time for new beginnings. And it is tax time, too. Many of our members are already very busy with clients and forms.
Speaking of tax time, National Society of Accountant’s Federal Taxation Committee has been examining the Trump Tax Plan. Some in the 28% tax bracket will have their top rate increased to 33%. Others in the 10% tax bracket will have some of their income jump into the 12% tax rate. Some taxpayers will pay more; some taxpayers will pay less. Others will pay no tax and will be relieved of filing returns except to get a refund with a new $30,000 standard deduction. Those in a 39.6% bracket will benefit the most since their rate will drop to 33%. It should be an interesting year for income taxes. Only time will tell which of the Trump Tax Plan provisions will become law, and what changes we will need to be prepared to make.
NSA committees are hard at work planning a great 2017
NSA has partnered with TaxSpeaker for 2017 CPE by the Sea, a post-tax season CPE retreat at the Hilton Myrtle Beach Resort, May 17-19. The event will feature six hours of continuing education each morning and afternoons free to enjoy the sun, surf, and local flavor. Topics will cover federal tax updates, social security and technology/practice management. For more information about the TaxSpeaker/NSA 2017 CPE by the Sea, visit this page.
This year’s 2017 NSA Legislative Strategy & Leadership Networking Conference (LNC), Motivate…Engage…Lead…Succeed! will be held in Phoenix, AZ, July 24 – 25. The LNC will cover leadership topics and emerging legislative issues to name a few. The LNC is an outstanding networking and idea-sharing program NSA provides for our state affiliates, volunteers and leadership.
NSA’s Leadership Development Program is a two-year program for NSA that encourages members to develop leadership skills and give back to the profession through volunteering-whether with NSA, at your Affiliated State Organization, at your workplace or for a related professional organization. A Leadership Development Program Leadership Retreat will be held prior to the LNC on July 23. There are a few openings for the 2017-2019 class. NSA State Director Training will be held after the LNC on July 26. To participate, complete this online application or download an application here.
Mark your calendars and save the date! NSA’s 72nd Annual Meeting will be held in Reno, NV, August 21 – August 24, 2017. The Annual Meeting will include the opportunity to earn 16 hours of CPE including hours in accounting, ethics and a special tax planning boot camp workshop.
The acclaimed NSA Enrolled Agent Exam Review Course will be held prior to the Annual Meeting in Reno, Sunday, August 20 through Tuesday, August 22. Course materials include NSA self-study EA Preparatory Course, review and practice exams, study guides, and access to a private online community with the instructors. For more information about NSA’s Enrolled Agent Exam Review Course, go to http://www.nsacct.org/eacourse.
By popular demand, we are also bringing back the opportunity to earn the Accredited Tax Preparer (ATP) credential onsite. ATPs are exempt from the Annual IRS Filing Season Program Tax Refresher Course each year.
NSA’s Regulatory Oversight Committee (ROC) is updating a spreadsheet of state practice regulations, monitoring state legislation and getting ready for all the potential changes that may turn up during the legislative session that occurs during tax season.
NSA volunteers are working on special college outreach efforts. The college connection task force committee was formulated to bring information about NSA and the Accreditation Council for Accountancy and Taxation (ACAT) to local colleges, thus giving accounting students more information about careers and credentials.
NSA Executive Vice President John Ams represented the tax professional community in IRS Commissioner Koskinen’s Thursday, January 5, 2017 press conference to highlight the start of the tax season. John’s remarks centered on how the new security requirements would impact tax professionals and their taxpayer clients. Following the press conference, he attended a quarterly meeting of the IRS Electronic Tax Administration Advisory Committee, where he was recently named chair of the Outreach Subgroup, and expressed NSA member concerns about the effect the “automatic logout” feature in tax software packages would have on the day to day activities of tax professionals. John has also been busy representing NSA on Capitol Hill, where he was recently invited to attend swearing in receptions for Senate Majority Leader Mitch McConnell, Minority Leader Chuck Schumer, Finance Committee members Chuck Grassley and Ron Wyden, and Rep. Kevin Brady, chair of the House Ways and Means Committee.
In closing, I want to remind you that there continue to be openings for volunteers who wish to serve on NSA committees. Volunteers can contact me and tell me how they would like to serve.
Until the next time, have a profitable and busy tax season.