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What to Know About Texas Franchise Tax

CPA Practice

If you do business in Texas, youve probably heard of franchise tax. But you may not know exactly what the Texas franchise tax is or if it applies to you. This blog post and Texas franchise tax FAQ will answer the following questions.

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Effective September 1, You Can Sit For the CPA Exam in Texas With 120 Units

Going Concern

Another state has pushed to allow prospective CPAs to sit for the exam with just a bachelor’s degree worth of units and that’s good ol’ Texas. Here’s hoping Texas gets a few more CPAs out of all this. Effective September 1, future CPAs can sit for the exam with 120 units of education. Angie Button, also a CPA.

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Texas Close to Allowing CPA Candidates to Test with 120 Credits

CPA Practice

The Texas Senate unanimously passed a bill on Tuesday that would lower the eligibility requirement for CPA candidates to sit for the CPA exam from 150 semester credit hours to 120. The bill now advances to the Texas House of Representatives for a vote. Today, SB 159 (120 hours to test leg) passed unanimously out of the TX Senate!

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The Texas Board of Accountancy Slapped EY With a Huge Fine

Going Concern

This time in the form of $3 million payable to the state of Texas. This is the largest administrative penalty the Texas Board has ever assessed against a CPA firm. Details From the SEC Order The post The Texas Board of Accountancy Slapped EY With a Huge Fine appeared first on Going Concern. That’s it.

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FinCEN: New BOI Reporting Deadline is March 21

CPA Practice

The beneficial ownership reporting roller coaster that has been ongoing for the past two months because of various lawsuits is finally pulling into the station after a federal district court in Texas on Feb. 17 lifted the final nationwide injunctionthat had put the mandatory small business filings on hold since last December.

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Texas A&M Axes NIL Fund, ‘12th Man Plus,’ After IRS Memo

CPA Practice

By Mark Heim, al.com (TNS) Texas A&M announced Wednesday it was “discontinuing” the 12th Man Plus fund, which provided coveted “priority points” and tax-deductible donations in regard to name, image, and likeness. “On Texas A&M announced the 12th Man Plus fund in February as a fundraising arm of the 12th Man Foundation.

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14 Charged with $53 Million PPP Fraud Scheme in N. Texas

CPA Practice

Industries, NTC Industries, West Texas Equipment and West Texas Scrap. This week, defendants were arrested in Texas, California and Oklahoma by FBI and other federal agents. Eight of the 14 defendants are from cities in North Texas. Many of those list their addresses at the same Dallas recycling and scrap metal business.

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