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Each year, the UACPA honors a fifth-year accounting student from each of Utah’s universities for his or her accomplishments in the accounting field. Criteria to be honored include GPA, extracurricular and professional activities and experience, professional image and perceived commitment and dedication. The following individuals are receiving the UACPA’s recognition at their ceremonies this spring.

Family Connection Center Inc. dba Open Doors Social Services is accepting proposals from licensed Certified Public Accountants for a financial and compliance audit.

Gov. Cox has signed S.B. 15 and we look forward to supporting CPA candidates as they navigate additional pathways to licensure. We will be working with the State Board of Accountancy in the next two months to address the questions about this. The bill will go into effect on July 1, 2026.

In a unanimous vote, Utah’s legislature passed a groundbreaking accountancy bill, modernizing licensure requirements and expanding pathways for aspiring CPAs. The bill received full support, with all votes in favor and none in opposition. The newly passed legislation broadens access to CPA licensure by establishing a clear and practical route: candidates can now qualify with a bachelor’s degree, two years of professional experience, and successful completion of the CPA exam. By removing outdated statutory references to 150 and 120 credit-hour requirements and eliminating NQAS from the statute, this bill simplifies the process and aligns licensure with the evolving needs of the profession. “This is a major step forward for the accounting profession,” said the UACPA’s CEO Susan Speirs, CPA. “By modernizing the licensure pathway, we are making the profession more accessible while maintaining the highest standards of competency and integrity.” The bill also includes updated language to reflect current industry practices, ensuring clarity and consistency within the regulatory framework. These changes position Utah as a leader in advancing accounting standards while addressing workforce shortages and expanding opportunities for aspiring professionals. The bill is scheduled to be signed by Gov. Cox and will go into effect July 1, 2026.

The Utah Division of Professional Licensing (DOPL) has received reports of a phishing scam targeting Certified Public Accountants in other states. Stay Alert if you receive any suspicious emails, texts, or phone calls threatening action against you or your professional license. The scam email, which is designed to look like it comes from a licensing board or government agency, reportedly urges potential victims to click a hyperlink in the body of the message to prevent potential action from being taken against their license. If you receive a message like this, DO NOT click any links. Please take a moment to review this example of a phishing message from the Arizona State Board of Accountancy: Review the following tips if you receive any suspicious messages: • Do not click suspicious links • Do not reply to questionable messages • Do not give money, financial information, or personal information if prompted If you receive a message you are uncertain about, you are encouraged to email DOPL directly at dopl@utah.gov or call (801) 530-6628 to verify any correspondence you may have received regarding your professional license.

Is there any place to use AI in an R&D study? Sure. We use it just for common and routine items and repeatable tasks to streamline the process for clients, remove duplicate content, and flag basic errors in the data.

As the reporting deadline for the Beneficial Ownership Information (BOI) approaches quickly, the UACPA has heard concerns from many members regarding the lack of clarity and guidance from the Financial Crimes Enforcement Network (FinCEN) and the January 31, 2025 deadline.

Read the letters issued as response to the Exposure Drafts released by AICPA and NASBA

Please submit your nominations to help us highlight the remarkable talent and commitment within our community.

The IRS has gone to great lengths to issue warnings to taxpayers about the marketing scammers pushing you to claim the ERC without having the knowledge and expertise to perform the analysis and calculations accurately. For these folks, speaking with a trusted advisory about the new ERC-VDP may be your best strategy.

January 7 – 13 is celebrated as Tax Preparer Awareness Week (TPAW).

In a major step to help people who owe back taxes, the Internal Revenue Service today announced new penalty relief for approximately 4.7 million individuals, businesses and tax-exempt organizations that were not sent automated collection reminder notices during the pandemic.

An IRS shutdown, especially between now and April 15, 2024, will have dire consequences to the IRS, taxpayers and their practitioners.

The beneficial ownership information (BOI) reporting requirement requires small businesses including small CPA firms to report information on the “owner” of an entity beginning in 2024.

Earn 2 hours of CPE at free events put on by the Utah State Tax Commission.

The UACPA has joined AICPA and dozens of other state CPA societies to ask the Financial Crimes Enforcement Network (FinCEN) to extend and expand the deadline for beneficial ownership information (BOI) reporting requirements, specifically for Reporting Companies Created or Registered in 2024.

You will need to report your carry forward hours to CPE Audit Service.

The Utah State Board of Accountancy has extended credits that expired from Jan. 30, 2020 through May 11, 2023.

To protect taxpayers from scams, IRS orders immediate stop to new Employee Retention Credit processing amid surge of questionable claims, concerns from tax pros and aggressive marketing to ineligible applicants, posing unacceptable risk to businesses and the tax system.

As of January 2023, CPAs now need to report CPE through NASBA's CPE Audit Services.