Marty Finn, CPA/PFS, J.D., LL.M., is an ENGAGE co-chair, focusing on tax, personal financial planning, and estate planning topics for the event, which begins June 3. Finn got his start on conference committees after meeting Sid Kess, a legendary tax practitioner and mentor who died in September at age 97.

The advice of Kess has stuck with Finn, and Finn believes that an emphasis on top-notch speakers and topics is what has made ENGAGE and its predecessor events valuable to CPAs for years.

Resources:

• ENGAGE registration information and agenda
• A remembrance of Sid Kess, by Andrea Millar, CPA/PFS
• “Summing Up Sid” podcast episode from September
• Longtime AICPA CEO Barry Melancon announces his retirement

What you’ll learn from this episode:

• First, a word on the news of the week: AICPA CEO Barry Melancon announces plan to retire.
• Melancon is scheduled to be at ENGAGE, a signature AICPA event that Finn looks forward to each year.
• Finn’s explanation of the Sid Kess Rule.
• The topics that are expected to be addressed in a panel discussion that Finn will moderate.
• The importance of, and timeline for, the sunset of several key provisions of the legislation known as the Tax Cuts and Jobs Act.
• Why Finn says that the opportunities for tax-focused CPAs in the area of advisory services will continue to grow.
• One last bit of Kess advice for getting the most out of conference attendance.

Ami Beers, CPA, CGMA, senior director–Assurance & Advisory Innovation for AICPA & CIMA, joins the JofA podcast for this episode to guide CPAs on how to approach the new SEC rule on climate-related disclosures.

The SEC adopted the rule March 6. But, about a month later, it put a stay on the rule’s implementation, in response to multiple legal challenges to the rule. Some argued that the SEC overstepped its authority, and others said the SEC didn’t do enough.

Either way, it’s likely the rule will affect corporate reporting going forward, despite the lack of clarity now. Beers explains that and more, underscoring the importance of not waiting to understand the rule.

Resources

n May 23 webinar mentioned by Beers

n AICPA and Center for Audit Quality summary document

n JofA March 6 article on rule adoption

n JofA March 14 need-to-know summary

What you’ll learn from this episode:

· Ami Beers’ rundown of the recent timeline of sustainability reporting and the SEC’s adoption of its rule on climate-related disclosures.

· What the data, in multiple surveys from the AICPA and the International Federation of Accountants, shows about companies’ reporting on climate information.

· What’s next regarding the legal challenges affecting the rule.

· Why Beers said “there’s a lot to unpack” regarding the rule.

· Why, despite legal hurdles, Beers believes the rule should remain on CPAs’ radar.

· The importance of legislation in the European Union and California on climate-related reporting.

Tax filing season can be a marathon, or it can be a sprint to the finish. Either way, the collective sigh of relief is real. Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA, reflected on the last filing season and addressed advocacy items to watch in this episode of the Journal of Accountancy podcast.

Lauridsen, in her third tax advocacy update of 2024, discussed the latest on employee retention credit (ERC) claims, including an eye-popping cost estimate. She also shared advocacy updates and looked ahead to the rest of 2024.

In her previous podcast update, Lauridsen focused on clearing up confusion related to beneficial ownership information reporting.

What you’ll learn from this episode:

· The comparison of tax season to a two-hour marathon.

· Why this was the first tax season in many years with “a smooth runway” for filing.

· Lauridsen’s reaction to the comment by IRS Commissioner Danny Werfel about receiving 20,000 ERC claims per week.

· Advocacy topics of note for this year and beyond.

· Lauridsen’s analysis of a tax bill now in the Senate.

· Why it is nearly guaranteed that tax changes are coming, even if the current bill never makes it out of committee.