The FICPA Governmental Affairs Team is happy to welcome you back to the Legislative Update. After a short hiatus, the team returns to our regular bi-weekly update. We would like to say THANK YOU to all of those who joined us at Sapphire Falls Resort for MEGA 2024.
The IRS has granted tax relief for individuals and businesses in Florida that were affected by severe storms on May 10, 2024. Baker, Gadsden, Hamilton, Lafayette, Leon, Liberty, Madison, Suwannee, Taylor, and Wakulla counties qualify.
We are pleased to report that the Florida Board of Accountancy (BOA) this week officially began the rulemaking process for the FICPA’s priority bill, HB 813 by Rep. Mike Caruso, creating a retired CPA status in statue.
Some legislative activities took a bit of a back seat this week as strong storms and several tornados did significant damage to Tallahassee and the surrounding areas, shifting the focus to storm recovery.
HR 5863 by Congressman Greg Stuebe (R-FL) provides key disaster relief to individuals impacted by Hurricane Ian. The bill resolves issues around tax rules relating to personal losses during declared disasters.
Florida's 2024 tax package includes the FICPA-priority language for automatic tax extensions when a state of emergency has been declared within five days of a deadline.
With legislators back in their respective districts, the FICPA Governmental Affairs team is transitioning into more post-Session activities with an eye towards the fast-approaching 2024 campaign season.
“We want to thank Gov. DeSantis for signing this great bill, CPA Lawmakers Rep. Caruso and Sen. Gruters for sponsoring it, and the entire Legislature for supporting the profession. This is a proud day in our history,” FICPA President & CEO Shelly Weir said.
On Tuesday, April 2, HB 813 by Rep. Mike Caruso (SB 954) was signed by the presiding officers and officially presented to Gov. DeSantis for his review. The Governor now has until April 17 to act on the bill. He may sign, let it go into law without his signature, or veto.
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