The DSCPA has recently formed the Young Accountants Network - a group of members under the age of 35.

During the first session of Delaware’s 146th General Assembly that ended on June 30, 2011, several tax-related bills were enacted of interest to or having impact on resident and nonresident taxpayers of the State of Delaware (“Delaware”). Following is a summary of selected and recently enacted legislation.

The attached Notices from the IRS outlines the counties in PA that are eligible for relief from timely filing for their September 15th and October 15th deadlines (extended to October 31) due to Hurricane Irene and Tropical Storm Lee. This covers taxpayers who reside or have a business in the disaster areas.

Qualifying AICPA voting members will have the most favored pathway for obtaining the new credential. The credential advances the science of management accounting, while supporting and growing the U.S. CPA as the worldwide standard of professional excellence in accounting.

The past year’s focus on the lack of relevance and increased complexity of information in private company GAAP financial statements culminated in late January when the Blue Ribbon Panel on Private Company Financial Reporting presented its recommendations to the Financial Accounting Foundation (FAF), the oversight body of the Financial Accounting Standards Board. Passing of the report from the panel to FAF represented a significant step in the process to bring historic change to private company financial reporting, making it more meaningful for owners, lenders, investors and other users of private company financial statements.

The Delaware State Board of Accountancy has changed its rules regarding webcasts and webinars.

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The U. S. Senate Judiciary Committee approved the tax strategy patent bill yesterday.

Read a letter from the IRS to Delaware CPAs

At its November 18 meeting, the Wilmington City Council repealed Ordinance 10-067 which amended Chapter 44 of the City Code Relating to the Earned Income Tax