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Lloyd A. “Buddy” Turman, 76, passed away peacefully on Oct. 1 at his home in Sarasota. Buddy was a man of principle and integrity who had the respect of peers. He demonstrated an untiring commitment and passion for the public accounting profession

President Joe Biden on Thursday signed H.R. 5863, the “Federal Disaster Tax Relief Act of 2023,” which will designate a series of presidentially-declared disasters as qualified disaster events.

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CPAs understand that there is incredible potential with AI but they don’t know what to do with it, what it does best, how to scale it across, and how do you get it to do what you need.

The onus is on business owners and card-processing experts to work together to find solutions to reduce processing fees, strengthen the customer experience, and create a partnership that works for both sides.

In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.

The FICPA remains plugged into the ongoings in Tallahassee as members settle into their offices and fill the halls of the Capitol. The FICPA continues to monitor legislation as it is filed and will begin weekly bill reports soon.

On Wednesday, the U.S. Senate unanimously passed Federal Disaster Tax Relief Act. The legislation would allow Americans who were subjected to damages from hurricanes and other federally declared disasters to claim such losses without itemizing such deductions. Moreover, such losses would not have to exceed 10% of a claimant’s adjusted gross income to qualify.

In light of the preliminary injunction against the Corporate Transparency Act, the AICPA, FICPA and 52 other state CPA societies on Wednesday sent a letter to the U.S. Treasury and Financial Crimes Enforcement Network asking for a one-year delay in the implementation of beneficial ownership information (BOI) reporting.

A federal judge in the Eastern District of Texas on Tuesday issued a nationwide injunction on the enforcement of the Corporate Transparency Act. The ruling comes less than one month before the Jan. 1, 2025, deadline for companies formed prior to 2024 to report their beneficial ownership information (BOI) to the Financial Crimes Enforcement Network.

The Internal Revenue Service today issued Notice 2024-85 providing transition relief for third-party settlement organizations (TPSOs), also known as payment apps and online marketplaces, regarding transactions during calendar years 2024 and 2025.

On Tuesday, the Florida Legislature met for the purpose of organizing committees, formally electing leadership, and swearing in the 35 newly elected legislators.

In compliance with Article X, Sections 4 & 5, of the FICPA Bylaws and Policies, be it known that the following nominations for Chair-Elect and Members-at-Large of the Board of Directors and Council are and will be submitted to the FICPA Council for consideration for election by Jan. 31, 2025.

Integrations have become the new norm for businesses, but when software isn’t regularly updated, problems are bound to arise. Our partners at Merchant Advocate offer this important guidance.

Extension of Certain Timeframes for Employee Benefit Plans, Participants, Beneficiaries, Qualified Beneficiaries, and Claimants Affected by Hurricane Helene, Tropical Storm Helene, or Hurricane Milton

All matters of fiscal policy in the Senate must pass through Sen. Joe Gruters. Senate President-designate Ben Albritton named the Sarasota Republican as the new Chair of the Senate Committee on Fiscal Policy.

The FICPA Governmental Affairs team has been hard at work traveling the state and actively collaborating with our members and esteemed leaders in the CPA profession. This week, the team had the pleasure of honoring Rep. Cyndi Stevenson, CPA, with a Lifetime Champion of the CPA Profession Award.

The Financial Crimes Enforcement Network on Tuesday issued a series of extensions to those entities which are required to file beneficial ownership information (BOI) reports.

Identity theft can unfortunately happen to anyone, anywhere, but there are ways you can protect yourself from it. As part of Cybersecurity Awareness Month, our partners at Aon offer this look at how to shield yourself from cyber threats.

This is a free replay of our Oct. 23 webinar with disaster-relief expert Jerry Schreiber, featuring links to assorted guides and resources referenced in the two-hour presentation.