NASBA, AICPA Re-Issue CPE Standards Exposure Draft for Further Comment
April 30 is now the deadline for public comment on propose changes to the the Statement on Standards for Continuing Professional Education (Standards). Due to significant areas of comment in the initial Exposure Draft, both NASBA and AICPA boards agree to a reissue of a revised Exposure Draft. Final approval on the proposed revisions will be requested by the NASBA and AICPA Boards at their respective July and August 2016 meetings, with an anticipated effective date to the Standards of September 1, 2016. A linked to the reissued Standards is below.
2016 Renewals - Individuals and Firms
The 2016 renewals were due December 31, 2015.
At this time all firms and licensees still needing to renew must use a paper renewal form (see Applications and Forms) with the exception of Inactives renewing as Inactive and Sole Proprietor Firms (if the owner is already renewed/current). Those exceptions may still renew using Online Services.
If you are uncertain whether or not you need to renew or if you want to check the status of your renewal, go to "Find a CPA" (Individuals) or "Find a CPA Firm" on the Board website and search by your name or license number. If you do not appear on the list, your license has expired. If you do appear, you will be able to see your license expiration date, which should read 12/31/2016.
Answers to questions concerning renewal can be found on the Frequently Asked Questions page.
- Following a review of the tax extenders legislation signed into law in December, the IRS announced the nation’s tax season will begin on Tuesday, Jan. 19. The IRS will begin accepting all business tax returns on Jan. 9, except for the Form 94x which will begin on Jan. 11.
- The IRS recommends that tax professionals gearing up for the 2016 filing season should include a review of their Electronic Filing Identification Number (EFIN) status to ensure its accuracy and security.
- Be on the lookout for scam email scams pretending to be associated with the IRS initiative called "Taxes. Security. Together." Scammers are trying to collect e-Services account login information through a message asking confirmation that the user wants their e-Services account deleted.
- Small businesses are encouraged to get their blank Wage and Tax Statements forms early. The IRS will no longer stock Forms W-2, W-3 and 1099 in Taxpayer Assistance Centers. The forms, which are used by small business owners, can be ordered online or by telephone (1-800-829-3676) and mailed directly to the taxpayer’s home or business address.
New Historical Candidate Reports Created, Released by NASBA
NASBA has re-released 2013 exam candidate peformance data in a new report format to be used going forward. The new format includes additional data and comparative information that was not previously published. The Jurisdiction Edition provides a broad view of CPA exam trends from around the world. The University Edition focuses on university and accreditation reports, including international, regional, national and state. University rankings are also a prominent feature of this edition.
The 2015 exam candidate performance reports, in the new format, will be available in January.
Report of the Administrative Law Judge
The Adminstrative Law Judge for the hearing held October 8 regarding proposed rule changes has issued his report. A link is provided below; the report may also be viewed on the Rulemaking page of the website.
The Board Report
The most recent (Fall 2015) issue of the Board's newsletter is available online.
2015 Statute Changes Now Live
The Office of the Revisor has published the 2015 Statutes. Board Statute changes signed into law and made effective on August 1 may be view there. A search within the Revisor site provides a summary list with links to the specific Statute sections changed. A link to that search is provided below.
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**:|
|12/31/2015||$75||2016 CPA certificate renewal form* and required fees**||6/30/2015||$225|
|12/31/2014||$375||2015 CPA certificate renewal form* and required fees**||6/30/2014||$525|
|12/31/2013||$675||2014 CPA certificaterenewal form* and required fees**||6/30/2013||$825|
|7/31/2013||$800||7/31/2013 CPE reporting 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 February 2016.
Minnesota Rule 1105.3000 (E)(2014)