ISCPA Website Resources
A/B
Adjusting
Entry, Newsletter on-line
The Adjusting Entry, the ISCPA's
on-line newsletter.
Advertise
in the Adjusting Entry, Newsletter
Find out about
advertising
in
the on-line newsletter.
Affinity Programs
Learn about special deals and services for ISCPA
members.
AICPA
Visit the home page of The American Institute of CPAs.
AICPA
Resource: Accounting & Auditing Literature
The AICPA is selling annual subscriptions
to the AICPA Reference Library
and the FASB Reference Library. For more
information, log onto
www.cpa2biz.com/AICPAresource
or call 1-888-777-7077.
Annual
Report 2006/2007
Click here to download the
Annual Report, which includes reports from
Committee chairs, Chapters, and the State Board
of Accountancy.
Applications, Membership
This link will take you to the membership
applications download page.
Audit Quality Centers -
Employee Benefit Plan
Audit Quality Center
Governmental Audit Quality Center
C/D
Careers
in the profession
Click here to view employment opportunities in
the profession.
Code of Professional Conduct - AICPA
The Code of Professional Conduct
was adopted by the membership to
provide guidance and rules to all members—those in public practice, in
industry, in government, and in education—in the performance of their
professional responsibilities.
Comfort Letter:
Lenders and Mortgage Brokers Still Pushing
on CPAs
CAMICO’s advisory hotlines have not stopped buzzing with a steady stream
of
calls regarding lenders and loan brokers pressing CPAs and their clients to
provide a letter from the CPA verifying that the client is self-employed,
financially sound, profitable, creditworthy, or a combination of such
attributes.
Details and Samples
Continuing Professional Education
(CPE)
View the schedule and course descriptions for all classes; download the CPE
newsletter; take on-line CPE.
CPE Guidance - Government Accountability Office
Credit Reports -
Starting December 1, 2004, residents of Idaho will be
able to get free copies of their reports every year from the three major credit
agencies - Equifax, Experian and TransUnion. In coordination with the FTC,
the three credit bureaus have started a collaborative program to deliver the
reports:
*
Online:
https://www.annualcreditreport.com (copy and paste link)
* By phone: (877) 322-8228
* By mail: Annual Credit Report
Request Service, P.O. Box 105281, Atlanta,
Ga., 30348-5281.
E/F
Employment
opportunities in the profession
Click here to view employment opportunities in
the profession.
FASB
- FASB home page.
Financial Literacy Resource Center
360 Degrees of Financial Literacy is a national effort of the CPA profession
to improve the financial understanding of Americans. It provides a
comprehensive approach to financial education, focusing on the information
that people need at each stage of their lives from childhood to retirement.
Forms
- Member Records Update
Fuel
Purchased on Idaho Indian Reservations This is
Idaho's official notice
on the IFTA, Inc. web site, as a result of the
recent US Supreme Court decision, which required Idaho to comply with the
9th Circuit Court of Appeals decision (CV-02-00185-DOC), regarding fuel
sold by tribal retailers on Idaho's Indian Reservations. If you have any
questions regarding the attached notice or the court cases which caused this
notice, contact IFTA Commissioner Dar Walters at (208) 334-7702.
Fuels
Tax Refund Information
The Idaho State Tax Commission has asked us
to share some important
information with Idaho CPAs about the Fuels Tax Credit.
G/H
Gramm-Leach-Bliley Act
President Bush Signs Bill Exempting CPAs from
Requirement to Send Privacy Notices
Under Gramm-Leach-Bliley Act
Provision Included in the Financial Services
Regulatory Relief Act of 2006
"This is wonderful news and a win for both CPA
practitioners and their clients.
The disclosure statements are often
confusing to clients and they are expensive
and time-consuming for CPAs
to prepare," said Barry C. Melancon, President
and CEO of the AICPA.
"Since the exemption is effective upon the
President’s signature, all
those CPAs who are now preparing this year’s
privacy notices can stop.
They won’t have to send Gramm-Leach-Bliley Act
privacy notices out this
year. They can instead put that time into serving their
clients."
"The Gramm-Leach-Bliley requirement was redundant for
CPAs, as well as a
regulatory burden," Melancon said. "We thank
Representatives Mark
Kennedy (R-MN) and Colin Peterson (D-MN) for taking
the lead in the
House to correct this inequity. It was their efforts to
exempt CPAs that caused
the provision initially to be included in the
Financial Services Regulatory Relief
Act of 2006. We also appreciate the
support of Senators Mike Enzi (R-WY)
and Debbie Stabenow (D-MI), who
championed the exemption in the
Senate," he added.
The House passed the Financial Services Regulatory
Relief Act of 2006 on
September 27, 2006 by a vote of 417-0. The Senate
unanimously passed it
on September 30, 2006. The bill also is intended
to provide regulatory relief
for insured depository institutions.
Handbook, Membership
Members only - This link will be reactivated in the member's
only
section by
mid 2008.
Help Wanted -
a listing of jobs in the industry
I/J
Idaho's Accountancy Act
Click here to read
an overview of the updated Idaho Accountancy Act,
approved by
the Idaho State Legislature and signed by the governor in 2002.
Idaho Commerce & Labor/Job Service
Looking for a job? Looking for employees? The Idaho
Department of Labor
is part of Idaho's Workforce Development System, a collaboration of
state
and local agencies dedicated to the creation of a globally competitive
workforce in
Idaho. Their website contains information on hiring, regulations
and programs, a listing
of available jobs, state employment services and
information, and much more.
Idaho employers can also file their quarterly
unemployment insurance taxes
online, where you can eliminate mailing
completely, calculate tax due quickly,
review payment history easily,
adjust status immediately, and choose from two
ways to pay.
Click
here to get started.
Idaho State Board of Accountancy
You'll find information on CPE requirements, the Accountancy Act, Board
members and staff, Board meetings, how to file a complaint and more. There's
also a link so you can e-mail the Board staff directly.
Idaho State Government
Idaho State Tax Commission
Idaho
State Tax Commission - important
memos
1. This memo clarifies the
Dyed Diesel Penalty Relief as it impacts Idaho.
Click here for the original IRS announcements.
2. This memo by the Idaho State Tax Commission
answers the question,
"When is the Idaho deduction for health insurance costs of a
self-employed
individual allowed, and how is it computed?"
Click here to download the
"Self-Employed
Health Insurance Deduction" memo.
3. This memo is a technical correction regarding the
instructions to the Idaho
Form 49C Idaho Investment Tax Credit Carryover.
Click here to download
the "Form 49C technical
correction memo."
Idaho
State Tax
Commission launches free online business
tax filing services
Businesses now have an easier way to
file taxes thanks to two new online
services offered for free by the Idaho
State Tax Commission. One application
allows businesses to report and pay
Idaho sales and use tax, and another
allows businesses to file income tax
withholding via the Internet.
Click here
for
details.
IDeal - Idaho College Savings Program
"IDeal - Idaho College Savings Program", has been made
available by the
State of Idaho, as of March 21, 2001. Idaho state taxpayers have the
opportunity to contribute to this 529 College Savings Program on a state- tax-
deductible basis:
up to $4,000/year for single taxpayers and up to $8,000/year
for married taxpayers filing
jointly. This deduction (see Line 27 of the 2000
Idaho Individual Income Tax Return, Form
40) is exclusively available to
participants of the Idaho College Savings Program -
"IDeal."
For program
details, an interactive tuition savings calculator, and to download forms,
please
visit
www.idsaves.org.
Industry, Education & Government (IEG)
IEG breakfast schedule, IEG links
Interpretation 101-3
Independence and
Non-attest Services - for the latest
update
IRS
web site offers EINs for businesses
The IRS now lets businesses
obtain identification numbers directly from its
web site. After the
taxpayer completes an application form on-line, the system
issues an
employer identification number (EIN) that may be used immediately.
An accountant may use the web
site to request EINs on behalf of clients. The
taxpayer must sign a copy
of the Form SS-4 and a statement authorizing the
representative to receive
the number on-line. The accountant must keep both
documents on file. The
web site describes the elements required for an
authorization statement,
which a preparer may print out for the client to sign.
For more information, go to
www.irs.gov/smallbiz
and click on the "Online
Application -- Form SS-4" link.
ISCPA Staff Contacts
Jobs
in the Profession - view employment opportunities.
K/L
K-1: IRS Issues Tips On Completing Schedules K-1;
Matching
Program Resumes With Improvements.
Click here
for details.
Legislation
(tax related) passed by Idaho Legislature in
2007 -
State Tax Commission's summary
Click here to read
a summary of tax-related legislation passed in 2007.
Legislators Tax Guide
Each year, the ISCPA's Federal & State Taxation Committee compiles
the
"Legislators Tax Guide," which explains tax rules specific to Idaho
state
legislators.
Library
- ISCPA inventory list
The ISCPA maintains a library of books,
newsletters and videotapes at its
Boise office.
Click here to see a list of what you can find in our library.
M/N
2006 National Map Survey Results
Readers guide
Idaho's report
Nation wide report
Survey commentary
Maps
to ISCPA CPE locations
Master
Tax Guides & Mergent's Dividend Records
Because we're able to buy in bulk, we're able
to offer these publications to
you at a discounted rate. Watch for emails reminding you that it is time to pre-
order your copies.
Medical Savings Accounts - Idaho The statutes covering Idaho Medical Savings Accounts have not changed.
Taxpayers can open medical savings accounts, make contributions to the
account, and deduct on their Idaho individual income tax return the amounts so
contributed.
Idaho adopted provisions of Internal Revenue Code during 2004 that
incorporate into Idaho law the federal health savings account provisions. These
provisions allow taxpayers to establish health savings accounts, make
contributions, and take deductions on their federal return which lowers taxable
income on their Idaho return. This adoption has raised the issue of whether or
not the medical savings account provisions found in Idaho law were repealed.
They definitely were not. The federal HSA provision and the Idaho medical
savings account provisions are separate and distinct provisions of law. Under
current circumstances, taxpayers are allowed to make contributions to a
Health Savings Account that grants deductibility on their federal return which
passes to the Idaho return. In addition, taxpayers are allowed, for Idaho
purposes only, to make contributions to an Idaho Medical Savings Account
and deduct those amounts on their Idaho return.
Member Services/Affinity Programs
Learn about special deals and services for ISCPA
members.
Membership
Applications
Membership Directory
Download the annual membership handbook. Members only -
This link will
be reactivated in the member's only section by
mid March, 2008.
Membership Records
- Update Your Information
NASBA
The National Association of State Boards of Accountancy (NASBA) serves
as a forum for the nation's state boards of accountancy. This site has
information about the Uniform CPA Exam, NASBA bylaws, CPE regulations,
and more.
Newsletter, on-line
The Adjusting Entry, the ISCPA's
on-line newsletter. To find out about
advertising in the newsletter,
click here.
Nonattest Services Rules - Navigating
the AICPA's General
Requirements
The
AICPA Professional Ethics Division has been receiving a significant
number
of questions regarding the application of the new nonattest services
rules
under AICPA Interpretation 101-3, Performance
of Nonattest
Services.
Click here
to download an article that was published
in the April
2004 CPA
Letter to help members understand the application and intent of
the new rules.
O/P
On-line Newsletter
The Adjusting Entry,
the ISCPA's newsletter, is now available in a new,
easy-to-use, on-line format.
Outfitters and Guides
Licensed in Idaho
Effective immediately, outfitters and guides are no longer required to collect
and pay sales tax on the portion of recreational fees that apply to jet boat and
rafting trips in Idaho. A recent law passed by Congress prohibits Idaho from
requiring outfitters and guides to collect sales tax for jet boat and rafting trips
on navigable waters. The Maritime Transportation Security Act pre-empts
certain nonfederal taxes, tolls, fees, or other charges imposed on any vessel or
other watercraft, or from their passengers and crew, if the vessel is operating
on any navigable waters subject to the authority of the United States. This law
does not affect parties who sell or lease boats. If you rent a boat for use on a
waterway, you should still collect the tax. However, if you provide a guided
trip on the waterway for activities such as rafting or fishing, you do not need to
collect the tax. If you have questions, please call the Idaho State Tax
Commission at 334-7660 in the Boise area or (800) 972-7660 toll free.
Practice Privileges for Out-of-State CPAs
If you are a CPA whose principal place of business is not in Idaho, and you
provide professional services for Idaho clients (except as exempted by Rule
303.04 below) during more than 10 days per calendar year, you must follow
Idaho’s requirements for obtaining
Practice Privileges.
Peer Review
Find information for reviewers and for reviewed
firms, all easily accessible
from the
Peer Review
Program page.
Q/R
Review, Peer Find information for reviewers and for reviewed
firms, all easily accessible
from the
Peer Review
Program page.
S/T
Safe
Harbor language for financial statements
Did you know that an Idaho licensee or firm
that does not issue reports may
issue financial statements without reports
if the financial statements include
certain disclaimer language? These
"Plain Paper statements" are not included in
the definition of
"attest" and do not by themselves trigger the peer review
requirement.
Click here to read about the safe
harbor language for financial
statements that is part of the Idaho
Accountancy Act.
Sarbanes-Oxley
Act of 2002
Click here
for a summary of the major provisions of
this bill.
Scholarship
- ISCPA's
Students,
click here
for information about applying for the ISCPA
Scholarship.
Scholarship Fund
- ISCPA's
The ISCPA has launched a scholarship fund for accounting students, and we
need your help.
Click
here to find out how you can make a tax-deductible
contribution to the
fund.
Schools
- Speaking at a school
career fair? Let the ISCPA
help!
The ISCPA office has materials to help
our members when they speak to
junior high, high school, or college
students about careers in accounting. The
AICPA's Takin' Care of Business
kits are a terrific tool for spreading the
word about the accounting
profession. Each kit contains the Takin' Care of
Business video
and 25 career guides
that you can distribute to interested
students. The guide introduces
students to the services CPAs provide and the
industries they work in, the
earning potential of a CPA, and much more.
There's also a Presenter's
Guide, with suggested topics of discussion. We
encourage you to donate the video
and any leftover career guides to the
school's career center. You can also give the school a
Takin'
Care of
Business Education Handbook that contains 15 lesson plans for
teachers,
complete with lesson objectives and procedures, topic overviews,
student
learning activities and solution sets. If you'd like any of these materials to
donate to a school near you, call Gwynne at the Society office
(208-344-
6261 or 800-388-3635) or email
Gwynne.
SEC
compiles Frequently Asked Questions web page
The SEC has released 35 frequently
asked questions about how to apply the
auditor independence rules it
released in January. The Q&As cover a range
of
subjects including partner rotation, nonaudit services and audit
committees.
Click
here
to read a press release announcing the release of the
document.
Click
here
to go directly to the Frequently Asked Questions.
Severance
Pay - Tax Commission clarifies position
A
number of Idaho practitioners have raised an issue about the State Tax
Commission's
position on certain termination and severance pay. The
Commission follows federal Treasury
Regulations that classify termination or
severance pay as compensation for services. For
Idaho residents, such pay is
part of Idaho taxable income regardless of the state in which
the employee
worked. For non-residents, if the terminated employee's services were
performed in Idaho, the pay is income derived from or related to sources
within Idaho. It
is therefore included in Idaho taxable income. When pay is
taxable in Idaho, it is subject
to Idaho withholding.
State Information Access information
about CPA Associations, Boards of Accountancy, State
Government and agencies, tax forms, tax information and
colleges and
universities offering accounting degrees
within each state.
Tax
Forms
Need tax forms from other states? An easy to use complete list of
all states
can be found at
http://www.taxadmin.org/fta/link/forms.html.
Forms and publications are downloadable in pdf format.
Tax
relief for service people serving in war zone
Click
here to download a pdf version of an IRS notice regarding the various
tax benefits and concessions available to service people in the Iraq war
zone
(which is not limited to Iraq). Among the important points in the
notice is a
reminder that there is an automatic extension of time for
filing returns and
paying taxes for those in the combat zone.
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