august 2015

A MESSAGE FROM THE NCSA PRESIDENT ronald d. powell

Total Commitment – There are four parts to Total Commitment: Planning, Purpose, Perseverance, and Preparation. Planning does no good unless you are able to communicate the plan.

This publication is a teamwork effort of planning which began over a year ago. The results are shared to all members through the website, e-mail, and printed copy. Purpose is inspiring through a greater good. For us, the teamwork effort is to protect and promote our practice rights in North Carolina. Perseverance is never letting your emotion affect locomotion. Finally, Preparation is the result of your planning and the opportunity to execute with a little luck added. Total Commitment, are you committed?

July was a busy month getting everything in motion for this year. David Rollins has spent hours updating our website with a fresh look and many new features. Well done! If you have not visited the website recently, you really need to spend some time there. As discussed at Leadership & Committee Day, there are numerous resources for our chapters and members. Check it out on our "Membership Only" page and scroll down to "Membership Resources."

Jense Creighton and the Membership Committee have completely updated the membership application. The new application can be downloaded from our website on the "Members Only" page, scroll down to "Administrative Control." They also have reviewed new applications and approved three new members in July. We welcome Linda Leggett (Greensboro), Karen Spruill (Farmville), and Michele Umbarger (Union Grove). Find their information in the Membership Directory and welcome them to NCSA.

President-Elect James Holmes did an excellent job of organizing and promoting this Leadership meeting. For the first time in a while, we had representatives from all of our chapters who participated in the discussions, presentations, and small group breakouts. David Hooker presented an updated report on where we have been and where we are as a Society. Curtis Lee presented pertinent information on how federal and state legislatures can change our rights to practice. He pointed out we are only one of two states where we can practice without restrictions. I feel the best session for the Chapters was the officer breakout meetings. I saw an exchange of ideas which will improve our chapter meetings. Did you know James had only three weeks to pull this together? Drop him a note of thanks for a job well done! 

Mark your calendars now for September 24-25 at Sheraton Four Seasons for our Fall Professional Accounting Seminar. GearUp will be presenting SSARS 21 Reporting Requirements and Practice Management. This will be a 16-hour continuing education seminar approved by NASBA. By the time you are reading this, registration should be open on our website. Also, October 12 is our annual meeting with local tax agency representatives. Peggy Bartsch, Practitioners' Forum Committee Chair, is planning this event and welcomes your feedback on questions to present to the IRS, NC Department of Revenue, and NC Division of Employment Security. Details will be on the website; click on "Events." You may have noticed several references to our website, ncsa1947.org. Your website is really a great resource for your practice, your professional improvement, and the place to find the latest information on NCSA. Use it daily to meet your needs. Missed an update from the IRS or NC Department of Revenue, you can find it on our website. 

Chapter News

Summer is passing us by. Soon kids will be headed back to school, and those calendar year corporate extensions will be due! As we look toward the education season that is gearing up don’t forget that your chapter meetings offer great topics each month. NCSA chapters are a great place to network, fellowship, and commiserate with your fellow colleagues. Take time out to attend a chapter meeting this month!

Burlington

The Burlington Chapter met on Thursday, July 23rd at Kimber’s in Gibsonville. Thirteen were in attendance for the meeting to hear NCSA Past President Stephen Metelits speak on the new Tangible Property Regulations. Next month the chapter will meet on August 27th again at Kimber’s with James Upton speaking on Health Savings Accounts. The Burlington chapter normally meets on the 4th Thursday of each month .For more information about the Burlington chapter contact Jim Holmes at jholmes.acct@yahoo.com

Cape Fear

The Cape Fear chapter met on Monday, July 20th at Sammio’s in Fayetteville. NCSA President Ron Powell spoke on How to Survive an IRS Audit. The chapter had a good attendance of 13. The chapter normally meets the 1st Monday after the 15th each month. For more information contact Merry Arnett at mparnett@embarqmail.com

Central

The Central Chapter held their monthly meeting on Monday, July 27th at Sagebrush Steakhouse in Asheboro. A double header with NCSA Past President David Rollins speaking on NCSA’s Website and Chapter Promotions Chair Marsha Wheeler speaking on ways to better promote our chapter. The 18 in attendance were treated to some of Marsha’s famous brownies. Next month will feature Greta Lint speaking on Social Media and Promoting your Practice. Central Chapter meets on the 4th Monday of each month. For more information contact Kevin Robinson at kevrob@triad.rr.com

Charlotte

The Charlotte Chapter met on Thursday, July 23rd at Captains Cove (was Captains Galley) in Matthews. One of the chapter’s own members NSA and NCSA Past President Paul Bumgarner spoke on How the ACA affects Employers to the 14 who attended. The chapter will meet next with IRS Senior Stakeholder Liaison Eugenia Tabon on August 27th. The Charlotte Chapter normally meets on the 4th Thursday of each month. For more information contact Louise Pistole at pistole9@windstream.net

Eastern

The Eastern Chapter met at H&R Block in Greenville. The chapter welcomed Marsha Wheeler, Chapter Promotions chair, she discussed ways to continue building the chapter and praised the efforts of the leaders and members there. Next month will feature a presentation from NCSA Past President J.R. Lawson speaking on Business Valuations. The Eastern chapter meets on the 4th Tuesday each month at H&R Block in Greenville. For more information contact Ronald Powell at ron@powellaccounting.com

Hickory

The Hickory Chapter met on Saturday, July 18th at the home of Ken & Coleene Cockrell on Lake Hickory. The meeting was the chapter’s annual cookout social and was enjoyed by all in attendance including NCSA President Ron Powell and wife Latefa. The Hickory Chapter normally meets the last Monday of each month. For more information contact Susan Dale Moore at susan@dalesaccounting.com

Piedmont

The Piedmont Chapter met on Thursday, July 30th at Sagebrush Steakhouse in Kernersville. NCSA Past President David Hooker spoke on In-Kind Contributions and the recent rulings and cases related to this issue. Piedmont Chapter normally meets on the last Thursday of each month. For more information contact Carol Smith at clstaxes@bellsouth.net

Raleigh

The Raleigh Chapter met Tuesday, July 28th at Manchesters in North Raleigh. Chapter Co-Vice President Larry Grossman related a small business story called Joes Hot Dogs. Next month NCSA Board Member Robert Pia and Curt Lee will explore in depth the workings of NCSA. The Raleigh Chapter meets on the 4th Tuesday of each month. For more information contact Stephen Metelits at metelits@usa.net

Sandhills-Sanford

The Sandhills-Sanford Chapter met on Thursday, July 23rd at Table on the Green in Pinehurst. NCSA President Ron Powell spoke on CPE Requirements for 1 hour of Ethics. NCSA Past President and Webmaster David Rollins also spoke and demonstrated the NCSA website and new updates. The chapter held its installation of officers and welcomed new President Gaye Saunders, new Secretary Marissa Santiago, and appointed Crystal Wambeke as Chapter Promotions Chair. The Sandhills-Sanford Chapter has a new Facebook page at https://www.facebook.com/NCSA.Sandhills. For more information contact Mark Bouchier at mbouchier@mabaccounting.net

Western

The Western Chapter met on Tuesday, July 28th at Gondolier Restaurant in Asheville. NCSA President Ron Powell spoke to the 17 in attendance on How to Survive an IRS Audit. The chapter will meet next on August 25th with location and speaker to be announced. For more information contact John McKinney at johnm@accuraaccounting.com.

Wilmington

The Wilmington Chapter met on Monday, July 27th at McAllister’s Deli in Wilmington .NCSA President Ron Powell installed officers and spoke on Surviving an IRS Audit. The chapter will meet again on August 24th with James Upton speaking on Rental Income Issues. Contact Chapter President Marie Izzo for more information at marie@johnizzocpa.com

We cannot compile this report without your information. If you have news of your chapter or its members including photos or interesting things that happened at your chapter meeting please email James Upton at jamesupton@rtmc.net or call (336) 873-7690.

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Fall PAS

The NCSA is sponsoring an accounting class at the Sheraton Four Seasons in Greensboro on September 24-25. The cost is $299 for members before August 31. Hotel rooms are $140/night; call the hotel to get this rate.

The 2015 Gear Up accounting course will cover the new engagement letters, totally revised management representation letters, and the dramatically reconstructed versions of the accountant's report. There is a new level of accounting service, "The Preparation," which can be issued without the need of an accountant's report. Other topics are Workpapers, Value vs Hourly Billing, and one hour of Ethics. The Gear Up classes are NASBA approved.

The two instructors are:

 Bob Corallino, CPA, MBA - He practices as a professional corporation in Manchester, NH, specializing

in small business, forensic accounting, aggressive tax and estate planning, and litigation support. He has over 20 years college teaching experience as an assistant professor, including two years in Europe teaching at the MBA level. Robert also has spoken at various seminars throughout the US. 

 Joseph L Santoro, MBA, CPA, CVA, MAFF, ABA – He is a retired US Air Force reserve colonel from NH and is a Certified Valuation Analyst. He has chaired various NSA committees and served four years on the ACAT Board. He was the NSA Best Speaker for 1998. back to the top

What You Should Know

Paid tax preparers must register with the IRS and get a PTIN. The initial fee is $64.25 and the annual renewal is $63. Anyone with a PTIN is authorized to prepare a federal tax return. The PTIN renewal period begins each year in October for the upcoming year. You can do this on-line at irs.gov/ptin.

In addition to the PTIN, there are credentialed preparers who can represent clients before the IRS. These are attorneys, CPAs, and EAs. In addition, non-credentialed preparers can get an Annual Filing Season Program Record of Completion by meeting certain continuing education requirements for a specific tax year.

EAs and Annual Filing Season Program (AFSP) participants must take courses from IRS approved providers. A listing of such providers is available on the IRS web-site at irs.gov/tax-professionals/continuing. The IRS provides a listing on the IRS web site of certain tax return preparers including attorneys, CPAs, EAs, and AFSPs.

All who expect to file more than 10 tax returns in the year must e-file their returns unless they get a waiver or certain exceptions apply. Beginning in 2016, the only preparers with limited rights will be AFSP participants, meaning they can represent clients whose returns they prepared and signed and only before the IRS for initial audits, customer service, and the Tax Payer Advocate Service. back to the top

Taxpayer Assistance Center

Taxpayers in the Wilmington area can call a new number to make an appointment for face-to-face service at the IRS Taxpayer Assistance Center at 3340 Jackle Drive. This is the only office in North Carolina offering appointments at this time. Taxpayers requiring an appointment at this location should call (844) 545-5640. The IRS eventually will move to an appointment service model for all of its Taxpayer Assistance Centers, but it will be at a measured pace over several months. back to the top

Small Business Retirement Plans

In IR-2015-96, the IRS encourages eligible small businesses that did not file certain retirement plan returns to take advantage of a low-cost penalty relief program. It is designed to help small businesses that may have been unaware of the reporting regulations that apply to their retirement plans.

Small businesses that fail to file required annual returns, usually Form 5500-EZ, can face stiff penalties up to $15,000 per return. However, by filing late returns under the program, eligible filers can avoid these penalties by paying only $500 for each return submitted. The procedure is in Rev. Proc. 2015-32.

The program generally is open to small businesses with plans covering 100% owner or the partners in a partnership, and the owner's or partner's spouse and certain foreign plans.

The Department of Labor offers a similar relief program for businesses with retirement plans that include employees known as Delinquent Filer Voluntary Compliance Program. back to the top

Inside NCSA

by Julie McNeill

Where interesting facts and overheard stories are told. Be careful what you say it might just show up here!

At the recent Leadership Day at Pinewood Country Club, Paula Brown shared that she is now an ordained minister and can perform wedding ceremonies. Her first will be in September for a couple at the beach, beach weddings are her specialty. Paula also said her desire was to counsel with couples before marriage to help prevent divorce. Way to go Paula, you are proving that there is in fact life after taxes! Hmm, maybe some of our fellow NCSA members will need to use Paula’s services soon, let your minds wander!

Also overheard at Leadership Day: New Board member Kevin Robinson and wife Sandra are headed to the great white north of Alaska! The couple are excited over the trip but extended traveling  calls for many  details to be answered including airport parking, and packing tightly. Have a great trip guys!


David Rollins has been touring around the state to show off NCSA’s new website. At a recent meeting the topics of
Birthday’s came up and David was asked if he ever had a birthday that bothered him. He said 50 was tough, but that his recent birthday was great. David has definitely had an amazing life, one thing he shared was about his time in a high school marching band in Louisiana at Mardi Gras! We knew David could party, he started training young! Marsha Wheeler who was also on tour that night with a chapter promotions presentation was asked the same thing, of course in typical Marsha fashion she replied that none of her birthdays had affected her. It was just a number. Marsha you truly always will be young at heart! Everyone knows about Marsha and her baskets, one comment she made in her presentation that night was that the members of NCSA are like the reeds in a basket. Individually they are not that strong, but together they carry a lot of weight.


New Board Member Susan Corliss-Bland is homeless. She recently started a flooring project at her home that revealed some other issues and of course necessitated the family moving out. Hopefully Susan will be back home soon. Home renovations are truly a drag, but the results are worth it (most of the time).

Every month we send out a question to random members and we print their answers here. This month the question
was “How did you come to be a member of NCSA?” Only one member responded (thanks for the great participation guys!). Danelle Hills of Burlington remembered how in 1988 Marjorie Scott who she had met at Elon College (now University) invited her to the Burlington Chapter and NCSA. Danelle was pleasantly surprised to see Wade Powell (now deceased) who she also knew from Elon. Powell was soon on his way to the Presidency of NCSA, and as we all know now son Ron has followed in his dad’s footsteps.

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