California Society of Enrolled Agents (CSEA)

Didn't get your second PPP application in this week? It's ok! You have until May 31 now... https://www.journalofaccountancy.com//senate-passes-ppp-ap

IRS to Recalculate Taxes on Unemployment Benefits; Refunds to Start in May https://www.irs.gov//irs-to-recalculate-taxes-on-unemploym

Unemployment Compensation Exclusion Update IRS has provided detailed information regarding treatment of the unemployment compensation exclusion due to the recently enacted American Rescue Plan. The new legislation excludes from income up to $10,200 of unemployment compensation paid in 2020 for taxpayers whose modified adjusted gross income is less than $150,000. In the case of married taxpayers, each spouse does not have to pay tax on unemployment compensation of up to $10,200. Read more here: https://www.irs.gov//new-exclusion-of-up-to-10200-of-unemp

FINAL DAY --- save $70 by registering for Super Seminar TODAY! Low risk -- cancel through May 19 Up to 50 hours of CE included this year! Learn more: https://superseminar.org//SuperSemi/Register/Pricing.aspx

FINAL DAYS TO SAVE! Super Seminar Deadline --- Pre-register by TOMORROW, March 30th for the BEST VALUE! Low risk -- cancel through May 19 Learn more: https://superseminar.org//SuperSemi/Register/Pricing.aspx

IRS UPDATE: Starting December 13, all new transcripts for businesses will partially mask the personally identifiable information of everyone listed on the tax return Learn more here: https://content.govdelivery.com/accoun//bulletins/2a870cf

As Enrolled Agents, we are much more connected to state and federal legislation than most. Today's our day to have a voice in the decisions by saying "I voted!"

THANK YOU STALM ATTENDEES! We would like to thank all of the tax agency staff and attendees who made this year’s virtual STALM a huge success! Despite the inability to be in the same room together, attendees and agency staff engaged in very constructive dialogue over some of today’s most pressing tax administration issues! The day began with an update from CDTFA, plus a discussion of sales and use tax audits and qualified users. ... Next, EDD provided practitioners with additional clarification on how to handle clients with faulty UI claims, as well as those clients who are confused about their worker classification status. During FTB’s afternoon session, attendees viewed presentations on upcoming audit priorities, COVID-19 best practices, and the new healthcare mandate. Many Member questions focused on how to handle COVID-19 remote workers and POA processing. Finally, SOS rounded out the day with a presentation that included an important update on Statement of Information (SOI) postcards, which will now include a due-date in bold type! CSEA Member participation is crucial to making this event a success, and we appreciate all of the attendees who submitted questions both before and during the event! Thank you, and we hope to see you all next year!

Ready for some Chapter networking and education events! Check these out for next week: November 2 through January 21: ClientWhys 2020 Tax Updates and Reviews November 4-5: 26th Annual Tax Practitioner/IRS Fall Webinar November 5: Reporting Foreign Accounts & Assets... Full calendar access here: https://www.csea.org//Searc/CSEA/Thrive/Event_Search.aspx See more

Any EAs out there actually taking a break after October 15??

New Employment Opportunity Seasonal Tax Preparer - Burlingame, CA

IRS Update: Draft Form 1065 Instructions released The revised instructions indicate that partnerships filing Form 1065 for tax year 2020 should calculate partner capital accounts using the transactional approach for the tax basis method. https://www.irs.gov/pub/irs-dft/i1065--dft.pdf

Please share: IRS FAQs for Disaster Victims website Includes topics: Affected Taxpayer and Records Necessary to Meet a Deadline Amended Returns Casualty Loss (Valuations and Section 165 (i))... Change of Address Copies of Tax Returns Filing of Extensions Mitigation Payments Penalty and Interest Realized Gains on Main Home Sale of Home SBA Loans Taxable State Recovery Fund Payments Travel Expenses https://www.irs.gov//small-busin/faqs-for-disaster-victims See more

This Week's Chapter Networking Events October 27: Online Networking Meeting - Oakland October 28-30: Tax Talk Seminar October 29: o Ethics, Morals, Smoke & Mirrors... o PPP Loans - EA’s Role in the Battle for Forgiveness October 30: CARES Act and COVID-19 Tax Changes Interested? Check out our full list of education and events: https://www.csea.org//Searc/CSEA/Thrive/Event_Search.aspx See more

REMINDER California Tax Education Council (CTEC) 2020-2021 registration renewal cycle ends October 31. https://www.ctec.org/

STALM is a unique example of what makes CSEA the premiere organization for supporting Enrolled Agents and is just one aspect of our enduring relationship with the state tax agencies. https://www.csea.org/Shared_Con//Event_Display_No_CE.aspx

Join us on Zoom! CSEA Committee Meetings run today through 5:30pm. Board & Committee Meetings continue tomorrow, 8:00am-3:00pm Log-in to our Governance page for the Meeting Information

STARTS TOMORROW -- All Members are welcome to observe and participate in the decision-making process that guides your Society. o Board & Committee meetings will be on Saturday & Sunday, October 24-25 o STALM will be on Monday, October 26 https://www.csea.org//Events/Event_Display_No_Sign_In.aspx