The Vermont Society of CPAs is pleased to announce the election of its Executive Committee and Board of Directors for the 2025-2026 term. The leadership team brings a diverse range of experience and expertise that will support the Society's mission to serve, support, and advocate for Vermont's accounting…
The ninth edition of the Uniform Accountancy Act (UAA) is now available. Forward-looking solutions in the updates include the feedback gathered during the exposure periods from VT CPA and our colleagues in other state CPA societies. Some of the key changes include:
Enables states to adopt a third,…
This is a great volunteer opportunity!The Essex CHIPS mission is to support, engage, inspire, and empower youth to make healthy decisions and become active community members and leaders. Essex CHIPS provides after-school programs at no cost for 4-9 graders 4 days a week. We evolved from two other…
VT CPA proudly convened its 2025 Annual Meeting on May 29 in a celebratory gathering of professionals, students, and state leaders. The event marked an important moment of transition and recognition for the Society and the wider accounting community in Vermont.
One of the central highlights of the meeting…
Please be aware that the AICPA has issued an all-member call to action regarding proposed federal legislation on the Pass-Through Entity Tax (PTET). You can see the call to action here:
<a href="https://nam04.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.aicpa-cima.com%2Fresources%2F…
Republicans on the House Financial Services Committee have proposed legislation that would eliminate the Public Company Accounting Oversight Board. Rules and processes currently overseen by the PCAOB would carry over to the Securities and Exchange Commission. The Committee is scheduled to consider the…
FinCEN issued an Interim Final Rule (IFR) removing the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI). The rule also updates filing deadlines for foreign entities:
Foreign entities registered before the IFR's publication must file BOI reports within 30 days of that…
After considering the comments the joint AICPA and NASBA committee received about the first draft of the UAA, they have refined the language in a new proposed draft. Major changes from the first draft include:
Language that recommends expanding the pathways to licensure to include a…
UPDATE 3/3/25: The Secretary of the Treasury Department, Scott Bessent, announced the Department will not enforce penalties or fines associated with the BOI reporting rule under the existing regulatory deadlines, but it will further not enforce any penalties or fines against US citizens or…
We will have a fuller update in our February News and Updates, which will be out later this month.
The joint committee of AICPA and the National Association of State Boards of Accountancy (NASBA) met in mid-February and reviewed the comments they received about the <a…