by Jessica Gross, Client Service Manager

Your membership entitles you to a variety of resources and technical experts through the Firm Foundation Help Desk. If you have a client or practice management issue or just want to bounce some ideas off someone with a different perspective, please call the Help Desk at 866-548-2938 or send an e-mail to firmfoundation@rsmi.com. There is no charge to contact the Help Desk, but depending on the scope and complexity of the request, charges may apply as the issue is referred on to a specific service provider.  Please be sure to ask for a fee estimate up front.

New Tax Tools Release: Section 6694

The IRS has issued guidance regarding the administration of Section 6694 as it applies to paid preparers. We have identified 32 issues that may require additional due diligence and disclosure and placed these in the Tax Compliance & Reference database with links in the Tax Policies and Tax Planning Tools databases where applicable.  Tools have been generated for 12 of the 32 items, with more coming soon.  These tools include memo-style write-ups on the topic, partially completed forms, sample client letters and other client communication tools.  Please take a moment to replicate the databases and review these new additions.

Making the CPA Exam Process Smoother

Since the CPA exam format changed in 2003, many of our affiliated members are experiencing fewer team members taking the exam on a timely basis. Professionals today have the opportunity to schedule the four parts of the exam eight months of the year.

Because the current process can be complex and confusing, Firm Foundation will host a webcast to educate firm leaders on May 1 at 2 p.m. Central. This webcast will explain how to mentor team members through the process of applying, scheduling, planning to study, preparing and passing the exam. Firms with the best successes have a designated individual who helps CPA candidates develop a plan and continues to follow-up with them to ensure the plan is being followed to obtain CPA certification.  Also on May 1, at 3 p.m. Central, we will hold another webcast for professionals who will be taking the exam.

As a Firm Foundation member, your team members can obtain discounted pricing on CPA review materials from Becker CPA Review (a potential savings of 43%). Firm Foundation has a direct bill relationship with Becker: your professionals enroll on-line in a special section of their website and then your HR lead or CPA exam champion sends an approval form to the Firm Foundation Office so we can verify your membership. Your firm will be billed after Becker invoices our office.

Individuals who purchase Becker CPA Review will have access to two new tools: Study Wizard, which will help plan what to study each week to be prepared for testing on a designated date; and Exam Tracker, which will allow firm management to follow an individual's progress in obtaining CPA certification. 

More specifics about the Becker arrangements and offered webcasts will be distributed after April 15. If you have questions or a need before then, please contact us.