Call for Immediate Action Regarding the SBA’s Paycheck Protection Program

The National Conference of CPA Practitioners is calling for immediate action regarding the Small Business Administration’s Paycheck Protection Program (PPP) as a number of larger businesses have received a majority of the funds.

In an open letter to Mnuchin and Carranza, NCCPAP President Neil H. Fishman, CPA, CFE, FCPA, CAMS and Co-chairs of the NCCPAP Tax Policy Committee, Stephen F. Mankowski, CPA, CGMA and Sanford E. Zinman, CPA wrote, “This PPP Loan program was designed to assist small businesses in retaining employees during the COVID- 19 crisis by providing business owners with funds to be able to retain and pay their employees while their businesses were affected by the current situation. While intended to be meant for small businesses, the majority of the funds have been given to larger business entities. Small businesses may never recover.”

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NCCPAP’s Open Letter to Treasury Secretary Mnuchin and SBA Administrator Carranza

The National Conference of CPA Practitioners is calling on the Treasury and the Small Business Administration to operate the CARES Act the way it was intended, and that is to help more small businesses and independent contractors.

In an open letter to Mnuchin and Carranza, NCCPAP President Neil H. Fishman, CPA, CFE, FCPA, CAMS and Co-chairs of the NCCPAP Tax Policy Committee, Stephen F. Mankowski, CPA, CGMA and Sanford E. Zinman, CPA wrote, “The CARES Act created a ‘working capital advance’ within the Economic Injury Disaster Loans (EIDL) program at the SBA intended to help small businesses by awarding grants of up to $10,000 per business.

“This loan advance did not have to be repaid even if the application was denied and the advance was supposed to be made within 3 days. At the time it became law, there were no restrictions. NOWHERE is there indication as to how the amount is to be determined.

“With your announcement, the determining factor for the amount to be issued will be based on the number of employees. Therefore, you have, in effect: eliminated ALL Independent Contractors with no employees, and eliminated any other business entity that does not have employees.”

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March 2020 NPL Update from NCCPAP

Immediate Past President and current Tax Chair, Stephen Mankowski, CPA, recently attended the March 2020 IRS NPL meeting. Highlighted topics include: An update from Commissioner Rettig and important COVID-19 Compliance Issues.

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NCCPAP Calls on States to Follow the IRS’s Lead

The National Conference of CPA Practitioners (NCCPAP) is quite pleased with Treasury Secretary Steven Mnuchin’s response to their letter calling for an extension to the tax deadline. On Friday, March 20, the U.S. Department of the Treasury responded to further requests, from NCCPAP and others. They revised their initial decision and extended the deadline for both filing and payment of taxes to July 15, 2020.

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NCCPAP Writes Open Letter to Treasury Secretary Mnuchin

The National Conference of CPA Practitioners is calling on the Treasury and the Internal Revenue Service to push the federal tax filing and payment deadlines to Oct. 15.

In an open letter to Mnuchin, NCCPAP president Neil H. Fishman, CPA, CFE, FCPA, CAMS wrote, “The action taken by the U.S. Department of the Treasury with respect to the preparation and filing of 2019 income tax returns, along with any payments that would be due with those returns in many cases, does not reflect the difficulties that have been imposed on both tax practitioners and their clients by the current crisis.”

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NCCPAP Highlights IRS Virtual Currency Summit

On Tuesday, March 3, National Conference of CPA Practitioners (NCCPAP) President Neil H. Fishman, CPA, CFE, FCPA, CAMS, and its Past President, Tax Chair and IRS National Public Liaison, Stephen Mankowski, CPA, attended the IRS Virtual Currency Summit in Washington, DC. The Summit was hosted by IRS Commissioner Charles Rettig and Assistant Deputy Commissioner, Compliance Integration John Cardone. Read the highlights from the four panel sessions below.

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NCCPAP Releases Its February 2020 IRS NPL Update

Immediate Past President and current Tax Chair, Stephen Mankowski, CPA, recently attended the February 2020 IRS NPL meeting. Highlighted topics include: Taxpayer First Act, New Advisory Group for Foreclosure Notices, and IRS Vision 2020.

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Radio Show to Feature NCCPAP President, Neil Fishman

National Conference of CPA Practitioners (NCCPAP) President Neil H. Fishman, CPA, CFE, FCPA, CAMS, will be speaking on the topic of taxpayer refunds during his interview with Doug Llewelyn (of The People’s Court) on Monday, February 17, 2020 at 4PM EST. The interview will be broadcasted live by Close Up Radio. The Tax Cuts and Jobs Act of 2017 brought significant changes to the law. With the 2020 filing season approaching, taxpayers should be concerned about compliance, now, more than ever.

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NCCPAP Releases Its January 2020 IRS NPL Update

Immediate Past President and current Tax Chair, Stephen Mankowski, CPA, recently attended the January 2020 IRS NPL and Taxpayer First Act meetings. Highlighted topics include: Enterprise Risk Management, Electronic Signatures, New Director for the Office of Professional Responsibility, and Taxpayer First Act Meetings.

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NCCPAP President Included in Accounting Today Most Influential People

Congratulations to Neil H. Fishman, CPA, CFE, FCPA, CAMS, and NCCPAP President, who follows in the footsteps of other esteemed NCCPAP Presidents acknowledged by Accounting Today in previous years. This prestigious honor is by no means automatic—there’s an extensive questionnaire and years of dedication and credentials that are required for consideration.

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