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E-News February 6, 2018: Michigan Treasury Online, CPA Attestations in Marijuana Business, New Member Resources in MICPA+ and more

by MICPA | Feb 06, 2018   ()

Michigan Treasury Online Makes Filing Annual Sales, Use and Withholding Tax Returns Easy
Businesses filing annual Sales, Use and Withholding Tax (SUW) returns can go paperless by using Michigan Treasury Online. SUW taxpayers are required to submit their annual return by Feb. 28. The state asks these business taxpayers to use the online platform to file and pay their tax obligations instead of completing and mailing a paper return.
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Advisory Bulletin Clarifies CPA Attestations in Marijuana Business
The state agency charged with overseeing marijuana regulation issued an Advisory Bulletin to provide clarification on CPA attestations and capitalization covered in Rule 11, part of the Emergency Rules filed in December 2017 implementing the Medical Marihuana Facilities Licensing Act.
Advisory Bulletin 

As States Legalize Marijuana, Investors See Opportunity
The New York Times explores the marijuana industry investment opportunity, which has its risks including conflicts between state and federal law along with double-digit returns.
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Renew Your E-Services Account Now
Reminder: If you are an e-Services account holder, please re-register now through the more rigorous Secure Access authentication process. For the time being, additional toll-free personnel are on hand to help. E-Services users who wait until they need immediate access to their account may encounter unexpected delays, says the IRS.
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You’ve Had a Data Breach – Here’s a List of Who You Must Contact
We hope you never experience a data compromise – whether by cybercriminals, theft or accident – but if it happens, there are certain steps to take. The IRS offers a complete list of who to contact, including law enforcement and your local IRS stakeholder liaison at the top of the list. The IRS stakeholder liaison for Michigan may be contacted as follows - phone 216-415-3518, email sbse.sl.great.lakes@irs.gov.
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AICPA to Congress:  Provide Resources Necessary to Implement New Tax Law and to Serve Taxpayers
In a letter dated Jan. 29, the AICPA called on Congress to provide the IRS and the U.S. Department of Treasury with the necessary resources to deliver to taxpayers the guidance and services they need to comply with the new tax law. The letter identifies 39 areas of the new law that require immediate guidance.
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GASB Requests Input on Revenue and Expense Recognition
The Governmental Accounting Standards Board (GASB) seeks feedback on the development of a comprehensive revenue and expense recognition model for state and local governments.
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GASB Explains Cost/Benefit: Leases
GASB recently issued a report that explores the costs and expected benefits of Statement 87, which reduces complexity and applies a single accounting and financial reporting approach to all transactions that meet the definition of a lease (with certain practical exceptions).
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Applications Now Being Accepted for Competitive Grant Assistance Program
Michigan’s local units of government looking to merge or share services can now apply for a grant from the Competitive Grant Assistance Program. The Michigan Department of Treasury says $3.7 million is available.
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Discover Your New Member Resources in MICPA+
MICPA members can now take advantage of the latest resources, special discounts and educational information offered through the MICPA + program. Visit regularly to obtain up-to-date information and offerings from business experts on a variety of topics.
MICPA+

Mar. 5 Deadline:  MICPA Seeks 2018 Public Service Award Nominees
Do you know a CPA who goes above and beyond through community service at a local, state or regional level? Maybe this person is you. The MICPA takes great pride in honoring one individual each year as the recipient of the MICPA Public Service Award. Please take a moment to nominate a peer, or yourself, by entering a nomination online. Nominations are due by March 5, 2018. If you have questions, contact Karleigha Kranz at 248.267.3703 or at kkranz@micpa.org
NOMINATE

Check Out These CPA License Plates
The Journal of Accountancy had some fun gathering unique vanity plates from CPAs across the country.
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Source: MICPA
Source: MICPA

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