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Board of Accountancy
85 E. 7th Place, Suite 125
St. Paul, MN 55101

Phone: 651-296-7938
Fax: 651-282-2644
TTY: 800-627-3529
Office Hours: 8-4:30 M-F

National Taxpayer Advocate Reviews Filing Season

National Taxpayer Advocate Nina E. Olson released her statutorily mandated mid-year report to Congress.

 

Report

 


IRS Offers Back-to-School Reminder for Parents and Students: Check Out College Tax Credits

Now is a good time, says the IRS, for parents and students to see if they will qualify for either of two college tax credits or other education-related tax benefits when they file their 2015 federal income tax returns.

 

Details

 


IRS Warns Taxpayers to Guard Against New Tricks by Scam Artists; Losses Top $20 Million

Following the emergence of new variations of widespread tax scams, the IRS issued another warning to taxpayers to protect themselves against these latest threats.

 

Details

 


Proposed Rule Changes Hearing Notice

The Board will publish a Notice of Hearing on proposed Rule changes in the August 17, 2015, issue of the State Register. A public hearing will be held on October 8, 2015, at 9:30 a.m.

 

Details

 


NASBA / AICPA Accepting Comments on Proposed Revisions to CPE Standards Statement

NASBA and the AICPA have issued as an Exposure Draft proposed revisions to the Statement on Standards for Continuing Professional Education (CPE) Programs (Standards). Published jointly by NASBA and the AICPA, the Standards provide a framework for the development, presentation, measurement and reporting of CPE programs. The public comment period for the Exposure Draft ends October 1, 2015. See the document for how to contact NASBA or AICPA.

 

Exposure Draft

 


Statute Changes

After deliberate consideration of need and subsequent effective presentation of rationale, the Board successfully recommended to the Legislature the adoption of changes to the statutes that the Board is charged with enforcing. Bills by primary authors Senators Rest and Saxhaug and Representative Gunther that contained changes to attest language and a civil penalty increase were introduced, passed by both Houses, and signed into law by Governor Mark Dayton on May 23, 2015.

 

Minnesota’s statutes regarding the term attest will now match those recommended in the Uniform Accountancy Act (UAA). This clarity and consistency in language between Minnesota statute and those of other jurisdictions will benefit both practitioners and Minnesotans seeking attestation services.

 

In a session with intense scrutiny on taxpayer increases of any kind, both Houses of the Legislature recognized the need for an increase in the Board’s civil penalty authority from $2,000 to $5,000. The Board has investigated and resolved several egregious cases of fraud, theft, and diversion of funds by individuals holding CPA credentials. The increase in civil penalty serves as a heightened deterrent to anyone licensed as a CPA and contemplating unethical or illegal conduct. The Board remains stalwart in its protection of the public.

 

The Board extends thanks to the Minnesota Society of CPAs, the Minnesota Association of Public Accountants, and the National Association of State Boards of Accountancy for information and assistance provided during the legislative process.

 

The revised statutes containing the above changes are effective August 1, 2015.

 

new language

 


The Board Report

The most recent (Spring 2015) issue of the Board's newsletter is available online.

 

View / Download

 


Continuing Professional Education Reporting

If you failed to report CPE by: The noncompliance fee is: Complete and submit: If you failed to complete CPE by*: The noncompliance fee is**:
    Certificates of completion for carryback hours and required fees 6/30/2015 $100
12/31/2014 $250 2015 CPA certificate renewal form and required fees 6/30/2014 $400
12/31/2013 $550 2014 CPA certificaterenewal form and required fees 6/30/2013 $700
7/31/2013 $675 7/31/2013 CPEreporting form and required fees    
12/31/2012 $825 2013 CPA certificaterenewal form and required fees 6/30/2012 $1000
7/31/2012 $975 7/31/2012 CPEreporting form and required fees    
*If you completed CPE hours after the June 30th deadline(s), you must include copies of the certificates of completion for those hours.
**The above-referenced fees reflect the rates if submitted in September 2015.
Minnesota Rule 1105.3000 (E)(2014)