Miss the Professional Issues Update?
Here's a quick look at what you missed
A combined NASBA-AICPA effort aimed at evolving CPA licensure to reflect the skills and knowledge CPAs increasingly need in a technology-driven marketplace is underway.

We will keep you posted of the proposed changes and how stakeholders are engaging in the process.
Occupational Licensing is under attack across the nation. There is movement to change historic licensure models for professions, which could affect the CPA license, and in turn, who can provide your valuable services.

We are diligently monitoring proposed legislation and are working to protect the valuable CPA license in Idaho.
Over the past few years, part of Enhancing Audit Quality was to increase requirements and quality assurances of Societies providing Peer Review. ISCPA worked incredibly hard to meet the AICPA’s benchmark requirements.

The CPA on staff requirement was the biggest obstacle for ISCPA to overcome – and the cost became prohibitive. 

Starting July 1, the Nevada Society of CPAs will administer the AICPA Peer Review Program for enrolled Idaho firms.

They also administer Utah, Wyoming, & Montana. This regional approach requires our members to sit on their Committee and their Report Acceptance Bodies – ensuring our active part in the process. If you have questions, please call Exec Director Laura Lantz at 208.344.6261
Legislation dealing with corporate income taxation of foreign income didn't pass last year - but HB 183 did this year - fixing the problems!

  • Businesses in Idaho are now allowed the 965 deduction for repatriated income on their 2017 taxes.
  • 100% participation deduction on foreign dividends moving forward in IRC § 245A.
  • Idaho now conforms to The Foreign Derived Intangible Income (FDII) and the Global Low-Taxed Income (GILTI) provisions of IRC § 250. 
DOUBLE CHECK - If you don't have the proper communication options selected, you may not be getting things applicable to you.

Also, update your "Areas of Expertise" so that the Find a CPA Tool on our website matches you with the services you provide. This is how future clients may be able to find you.
In Washington DC for AICPA Spring Council
My first time to DC! I spent the first half of the day before our opening reception walking around DC. WOW... I got 18,000 steps before noon. I did not have time to go to any museums but that will be on my list next time.
Spring Council MEMBERS
Laura and your AICPA Council Reps are in DC for Spring Meeting of Council. Idaho has two voting members on the AICPA Council, which is their governing body. 

The immediate Past-Chair of ISCPA (Nate Strong) holds a one-year term and the second (Farrell Steiner) is elected to a three-year term. Our incoming Council member (Mick Armstrong) also attends.

Next week's Monday Takeaway will be a full overview of the meeting and our Hill visits.
ISCPA Board Member receives Career-Technical Faculty Excellence Award!
Congratulations to ISCPA current board member Candace Boesiger for receiving the Faculty Excellence Award for Career-Technical Faculty at the College of Southern Idaho! Candace loves students and she has learned that the longer she teaches the more she realizes that there is so much more learning that can take place if she looks past the problems and questions at the end of each chapter. She now adds multiple projects to accompany the basic work thereby assisting her students in learning real-world challenges and solutions. Read more...
CPAs at times come under fire from banks and other lenders pressuring them to provide assurances regarding their clients’ financial strength.

Many CPAs have shared frustrations and concerns with CAMICO regarding veiled threats from aggressive brokers and lenders alleging that their clients will not qualify for a loan without receiving a letter from the CPA supporting the client’s loan qualifications. Some brokers have even suggested that the client should seek a “more cooperative” CPA. - Read how to respond...
‌
PLEASE REGISTER ASAP ISCPA Annual Meeting
The Agenda includes:

AICPA State Regulatory & Legislative Affairs updates

ISCPA's Business Meeting

Speed Reading & Memory Techniques - If these tips save me even 20 minutes a day - it will be time well spent to learn!
It's 4 credits for $25! This is a GREAT deal!
 Plus, half of all registrations go towards the ISCPA Scholarship Fund. Win-Win!

Friday, JUNE 14 in Boise • 7:30am - 1:00pm

P lease get your rooms ASAP, availability is always limited in June.
If you'd like to be removed from the Monday Takeaway weekly newsletter, please update your profile by clicking here - and unselect this communication.
The ISCPA MEMBER DISCOUNT PAGE is a fantastic avenue for discounts and savings for Society Members. Check it out!