Did you know we have been actively representing you all summer?

Here is a summary of what we did during our summer vacation:

1. We set our 2010 legislative agenda.
2. We monitored and testified before the Maryland Business Tax Reform Commission.
3. We advocated changes to the Maryland franchise tax law.
4. We attended IRS tax preparer regulation hearings.
5. We stated to the IRS our position on tax preparer licensing — specifically, to protect your CPA rights and prevent public mispercpetion.
6. We advocated to the FTC about the “red flag” rule and attempted to get CPAs exempt.
7. We monitored and advocated to Congress about tax patents, proposed consumer financial protection legislation and other national issues with the AICPA.

We have testified and attended several hearings of the Maryland Business Tax Reform Commission, which was enacted during the special session of the Genral Assembly in Senate Bill 2, the “Tax Reform Act of 2007.” The commission has had several hearings in which its members discuss significant business tax reforms like combined reporting, gross receipts taxes and value-added taxes, Here is a story from the Baltimore Business Journal about the last hearing I attended. Our State Tax and Legislative Executive committees have been critical to our efforts, and we all owe them a debt of gratitude.

Here is a copy of our letter to the IRS and a copy of our comments to the FTC.

Protecting your license and continued proactive advocacy is the number one thing MACPA members want us to focus on, based on our last round of professional issues updates attended by more than 1,500 CPA members. Come attend our fall series of professional issues updates for the rest of the story. The updates are worth four hours of free CPE. View the schedule and register here.

How do you think we are doing? Post a comment and let us know.

Resources:

• Information for tax pros from the Maryland comptroller's office
• The scoop on Maryland's new tax law: Summary of $1.4 billion Tax Act in 2007
• Maryland corporate reporting requirements
• Maryland's economic hits just keep on coming
• CPA Day in Annapolis: Jan. 20 at the Governor Calvert House, 8 a.m. to 1 p.m.
• MACPA federal and state tax listservs (“like having a tax partner down the hall”): Members only — login required

Check our our catalog for a comprehensive list of upcoming tax programs to keep you on top of these changes.