Pub. 4 2022 Issue 2

I S S U E 2 , 2 0 2 2 4 nebraska cpas 23 20 C O N T E N T S 14 ©2022 Nebraska Society of Certified Public Accountants | The newsLINK Group, LLC. All rights reserved. The Nebraska CPA is published six times each year by The newsLINK Group, LLC for the Nebraska Society of Certified Public Accountants and is the official publication for this society. The information contained in this publication is intended to provide general information for review, consideration and education. The contents do not constitute legal advice and should not be relied on as such. If you need legal advice or assistance, it is strongly recommended that you contact an attorney as to your circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of the Nebraska Society of Certified Public Accountants, its board of directors, or the publisher. Likewise, the appearance of advertisements within this publication does not constitute an endorsement or recommendation of any product or service advertised. Nebraska CPA is a collective work and as such some articles are submitted by authors who are independent of the Nebraska Society of Certified Public Accountants. While the Nebraska CPA encourages a first-print policy, in cases where this is not possible, every effort has been made to comply with any known reprint guidelines or restrictions. Content may not be reproduced or reprinted without prior written permission. For further information, please contact the publisher at: 855.747.4003. ISSUE 2, 2022 EDITORIAL: The Nebraska Society of CPAs seeks to reflect news and relevant information to Nebraska and other news and information of direct interest to members of the Nebraska Society of CPAs. Statement of fact and opinion are made on the responsibility of the authors alone and do not represent the opinion or endorsement of the Nebraska Society of CPAs. Articles may be reproduced with written permission only. ADVERTISEMENTS: The publication of advertisements does not necessarily represent endorsement of those products or services by the Nebraska Society of CPAs. The editor reserves the right to refuse any advertisement. SUBSCRIPTION: Subscription to the magazine, a bi-monthly publication, is included in membership fees to the Nebraska Society of CPAs. 6 PRESIDENT’S MESSAGE: SPRING: A TIME OF RENEWAL BY JONI SUNDQUIST, NEBRASKA SOCIETY OF CPAS 9 MARK YOUR CALENDARS! 10 STATE BOARD REPORT: FAQS FOR NEBRASKA CPAS: THE ROLE OF THE STATE BOARD IN CIVIL LITIGATION BY DAN SWEETWOOD, NEBRASKA BOARD OF PUBLIC ACCOUNTANCY 12 COUNSELOR’S CORNER: IS THE DOCUMENT VALID? BY MINJA HERIAN & JAMES TEWS, KOLEY JESSEN 14 STATE TAX BRIEFING: RECENT NEBRASKA TAX AUDIT & APPEAL ISSUES BY NICK NIEMANN & MATT OTTEMANN, MCGRATH NORTH LAW FIRM 16 2022 NESCPA COURSE CALENDAR 20 S CORPORATION INVERSION USING AN “F” REORGANIZATION BY HANNAH FISCHER FREY & JESSE SITZ, BAIRD HOLM LLP 23 CONGRATULATIONS TO THE TOP CPA CANDIDATES IN NEBRASKA! 24 CPA EVOLUTION WILL IMPACT TODAY’S INTERNS HOW CAN YOUR FIRM PREPARE? BY CARL MAYES, CPA, ASSOCIATION OF INTERNATIONAL CERTIFIED PROFESSIONAL ACCOUNTANTS 26 MEMBERS IN THE NEWS 29 TALENT MANAGEMENT LIVE WEBCAST SERIES 32 IN REMEMBRANCE OF ARNOLD MAGNUSON 33 IN MEMORIAM 34 WELCOME NEW SOCIETY MEMBERS!

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