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Dear Elizabeth,

Farewell! Today is my last day at the MSCPA and I want to use my last message to thank you all for a wonderful year and for entrusting me with the stewardship of your professional association. From the outset, you were warm and welcoming and I deeply appreciate your willingness to embrace change. My job was made easy by the Society’s “good bone structure” – a solid membership base, responsible leadership, an engaged staff, sound finances and a bright future. These attributes will also serve the Society well during this time of transition.

I am happy to announce that Beth Lyons, vice president of peer review and membership, will be serving as the interim president and CEO while the search committee conducts a search for your new leader. Beth will hit the ground running with her institutional knowledge and comprehensive understanding of all facets of the Society. Bill Mahoney, the Chairman of the Board, is a rock solid supporter of the Society and the profession and you couldn’t ask for a better a leader at the helm.

My parting words will be to encourage you to take advantage of all the Society offers. Join a committee. Attend a networking event. Mentor a young member. Give back to your community. Your collective engagement in these endeavors makes the MSCPA a more vibrant, more dynamic and more interesting professional association - and that benefits you all and the profession.

Because Boston is such a small town, I am sure that for some of you, our paths will cross again. I look forward to that. 

All the best (and go Patriots!).

Eileen P. McAnneny, Esq.
President and CEO

LEGISLATIVE UPDATE:

IRS Updates
• IRS Offers Penalty Relief for Overpayment of Obamacare Tax Credits
• IRS Developing Regs on Charter School Participation in Gov’t Retirement Plans
• Relief for Incorrect Premium Tax Credit Advance Payments
• IRS Criminal Investigation and Her Majesty’s Revenue & Customs Co-Host First
• International Criminal Tax Symposium
• Low Income Taxpayer Clinic Program Reports on Activities
• Inflated Refund Claims Remain on the IRS “Dirty Dozen” List of Tax Scams
• Six New Members for Information Reporting Program Advisory Committee
• IRS Announces New Internal Revenue Service Advisory Council Members
• Return Preparer Fraud Hits IRS Annual “Dirty Dozen” List of Tax Scams to Avoid
• Identity Theft a Major Concern on the IRS Annual “Dirty Dozen” List

Details of the President's SOTU Tax Proposals
During his State of the Union address, President Obama announced several tax changes targeting higher-income individuals to provide tax relief for middle-class taxpayers. 

How the Rule Limiting Compensation Paid by CHIPs Applies
Sec. 162(m)(6), added by the health care law, prohibits an income tax deduction for compensation paid by a covered health insurance provider (CHIP) that exceeds $500,000. This article examines the final regulations on this rule that were recently issued and explains how the rule applies to consolidated groups, self-insured taxpayers and captive insurance companies.

CPE:

Added by Popular Demand!
Cashing in on New Regulations: New Tangible Property Regulations - InfoShare (2/4)
There is a good deal of confusion about the new Tangible Property Regulations (TPRs.) Many commercial property owners and their financial advisors are unclear about the rules of compliance and the potential benefit to property owners. This discussion will focus on those conditions that justify expense elections (IRS 1.263) and disposition elections (IRS 1.168) including unit of property as a measure of materiality, the conditions that dictate capitalization and a review of Safe Harbor and De Minimus opportunities. Finally, we will discuss the immediate action steps that are necessary to be in compliance.

NETWORKING:

Upcoming Committee Meetings
• Academic and Career Development (2/6)

Young Professional Joint Networking Event (2/26)
Expand your networking and meet professionals in legal, accounting and financial services industry at the Atlantic Beer Garden on February 26.

MEMBERSHIP:

MSCPA Firm Scholarship Program
Join the list of prestigious firms that are helping to ensure that today’s students become tomorrow’s CPAs. It's a win-win proposition designed to benefit deserving college students, provide public recognition for your firm and advance the accounting profession in Massachusetts. 

Temporary Job Postings
Looking for temporary work? Employers post temporary and seasonal job opportunities on our website almost daily. Browse to find the right position, or post your temporary position for free. 

NEW Volunteer Opportunity
BridgeCultures - CPA to Assist with Financial Projections

NEWS & EVENTS:

Confident CEOs Plan to Increase Spending in 2015
Finance chiefs are more confident in the U.S. economy, and an increasing number of them say they plan to spend more in 2015. Talent and technology are their focus areas, according to an annual survey of middle-market CFOs by the CFO Alliance. 

Top 5 Accounting Marketing Trends for 2015
From advertising to industry knowledge, here is what you should be watching and exploring in 2015.

3 Tips on How Your Firm Can Find the Right Qualified Candidate
A new study by The Execu/Search Group identified the top technical and soft skills employers are looking for.