OSCPA & AICPA Town Halls offer key cybersecurity and federal tax bill info

By Greg Saul, JD, CAE, OSCPA Director, Tax Policy

Thursday was a busy day for town halls, as both OSCPA and AICPA hosted informative sessions covering a range of topics of interest to CPAs and business professionals.

The Ohio Society kicked off the day at noon as OSCPA President & CEO Scott Wiley, CAE, welcomed guest speaker Jacob Nix, CPA, CISM, CISA, Founder & CEO of RISCPoint. They discussed enterprise risk management and cybersecurity and ways to protect your organization from emerging threats. If you missed it, you can download the slides here.

In the afternoon, AICPA hosted their bi-weekly town hall and provided an update on the Reconciliation bill, also dubbed the Inflation Reduction Act, that is being debated in the U.S. Senate this weekend. If you missed it, you can watch the archive here or download the slides here.  AICPA also sent a letter to Congressional leaders with comments regarding important profession and tax policy issues contained in the legislation.  You can download the letter here.

According to news reports, to win the support of Sen. Kyrsten Sinema, D-Ariz., Democratic leaders agreed to drop a $14 billion tax increase on carried interest that she had opposed and change the structure of a 15% minimum tax on corporations. Instead of carried interest, Democrats plan to add a new 1% excise tax that companies would have to pay on the amount of stock that they repurchase.

For additional learning on the legislative process and the value of your voice and vote, register now for Advocacy in Action on Sept. 30 from 9 a.m. to Noon.