posts on Legislative / Regulatory


MACPA, others object to onerous DOL proposal

Posted By: Edith Orenstein on October 01, 2015 in Legislative / Regulatory
The MACPA and other professional associations recently filed comment letters objecting to an onerous proposal released by the U.S. Department of Labor, Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales and Computer Employees (the proposal), which proposes a significant increase in the salary threshold below which employees are deemed "non-exempt" and entitled to overtime pay. The proposal would amend the provisions of the Fair Labor Standards Act...

Don’t panic: How I learned to stop worrying and love the stock market

Wall Street is hypnotic these days, isn’t it? It’s up, then it’s down, then it’s WAY down, then it’s up, then it’s down, then it’s way, WAY down. Over the past five days, the Dow Jones Industrial Average has lost 163 points, 358 points, 531 points, 588 points, and 205 points. Dizzying, isn’t it? It’s enough to drive someone insane. So quit watching. Seriously. If you’ve got cash in the stock market, quit paying attention. This isn’t...

SCOTUS gay marriage ruling: What it means for CPAs and their clients

Unless you’ve been living under a rock, you know by now that the Supreme Court has ruled it’s unconstitutional for states to ban same-sex marriage. In effect, the ruling legalizes gay marriage in all 50 states. What you might not know is that the ruling has lots of implications for CPAs. A slew of services — from tax preparation to health care to financial planning to employee benefits — are being re-examined in the wake of the ruling. Thankfully, it didn’t take long...

MACPA Members Identify Top Challenges at Annual Meeting / Town Hall

MACPA members identified their top issues at last week's final town hall. over three hundred CPAs with an average of 20.7 years of experience came to hear the latest updates about the CPA Profession and MACPA and welcome the Association's newly-elected leadership. Thanks to our major sponsors, Sage, Wolters Kluwer, Avalara, CPA.COM, Citrix Sharefile, BB&T, AON, and Microsoft whose support makes these meetings possible. Slides 4 thru 8 in the slideshare deck below cover the polls from the...

Maryland comptroller answers FAQs about ‘Wynne’ income tax ruling

Posted By: Bill Sheridan on June 01, 2015 in Legislative / Regulatory&Taxation
Questions have been flying throughout the profession ever since the Supreme Court struck down Maryland’s income tax law with it’s “Wynne” ruling. Now, the state’s Comptroller’s Office is providing a few answers. Comptroller Peter Franchot’s staff has released a series of questions and answers surrounding some of the key issues related to the Supreme Court’s decision. Among them: * Who is affected by the decision? * How can refunds be...