RISCPA/RI Business Forum News Release May 12, 2022


RISCPA hosted our first ever, sold-out, City Lights Summer Party at the Rooftop @ Providence G on Tuesday, May 11th! Thank you to our sponsor, OneDigital Health and Benefits, and to all who attended including RI Lt. Governor, Sabina Matos, RI Commerce Secretary, Stefan Pryor, Director of the RI Department of Administration, Liz Tanner, Director of the RI Department of Business Regulation, Jim Thorsen and many other notable state and industry leaders!

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Rhode Island approves $21 million in funding for 'Superman' building renovations: The State of Rhode Island has approved $21 million of funding to start renovations of the so-called Superman building in downtown Providence. Read More


Governor McKee Announces First Step for New, Modern Transit Hub in Downtown Providence
PROVIDENCE, RI – Governor Dan McKee announced today that the Rhode Island Public Transit Authority (RIPTA) has taken the first step in making the proposed Dorrance Street Transit Center in Downtown Providence a reality. Proposal Information


Celebrating RI Small Business Award Winners!

Highlight: RI District Director Award

SCORE Rhode Island, James Mutschler & Jeff Bodenstab, Co-Chairs

For more than 50 years, SCORE has served as a source of mentoring and education for small businesses across America. Through a nationwide network of more than 300 chapters and 10,000 volunteers, SCORE helps small businesses start up, grow, and achieve their goals. We have helped tens of thousands of new businesses, creating new jobs and improving the economic health of our local communities and the nation.


Small Business Facts: Small Business Job Creation

Despite losing 9.1 million jobs in the first two quarters of 2020, small businesses job growth rebounded swiftly following the COVID-19 recession. In the four quarters following, small businesses have gained 5.5 million jobs, making up for 60 percent of the decline during the early pandemic. Small businesses have generated 12.9 million net new jobs over the past 25 years, accounting for two out of every three jobs added to the economy. For more, read Advocacy’s latest fact sheet, “Small Business Job Creation”. Fact Sheet


Certificate of Good Standing vs. Letter of Good Standing: Depending on the reason your business must establish good standing, you may need to request a Certificate of Good Standing, a Letter of Good Standing, or both! The RI Department of State and the RI Division of Taxation collaborated to provide the following information: LOGs vs COGs, which can also be found HERE.


BILL HB 6658 Changes the rate of interest for underpayments of tax to prime rate plus six percent (6%). Also limits the assessment of interest to four (4) calendar years prior to the date on which notice of the delinquent payment is sent.)

Right Now - for underpayments of tax you pay Eighteen percent (18%) is one of the highest rates in the nation and Rhode Island is well above the average rate.


RISCPA Committee News


Program Information and Registration




Sponsorship Opportunities Now Available!
RISCPA's Annual Golf Tournament sells out every year! NOW is the time to get the exposure your company needs while giving back to our community! All proceeds from this tournament will benefit Meals on Wheels of RI. Please CLICK HERE to purchase your sponsorship. Many include a foursome, so don't delay!

Local Training Opportunity: WHEN DISASTER STRIKES: PREPARE, ACT, SURVIVE: This course is designed to teach and encourage community members impacted by disaster to prepare, take preservation actions and perform, as appropriate, light search and rescue response to aid their family and other community members in the immediate aftermath of a natural disaster or human-made incident. More Information


Join the RI Manufacturers Association and Real Jobs RI in taking advantage of these special Employer Incentives, including Training Grants, Apprenticeships, and Tax Credits: Read More 

Overtime Listening Session: Northeast Employers by the US Dept of Labor, Wage and Hour Division, Friday, May 13, 3:30 - 4:30 PM / Free Online Event

Mondays with Mark! CLICK HERE on every Monday at 11:00 AM. 

Talk of the Town Tuesday - with the Rhode Island District Office Join the SBA Every Tuesday at 9:00am To Get All The Info You Need In A Half Hour or Less

SBA Office of International Trade- Finance a Business Acquisition with an SBA International Trade Loan ("ITL")  

NEW! Latest Administrative Decision: 2022-11

NEW! Report on alcoholic beverages: The Rhode Island Division of Taxation has posted the annual report on the sales and taxation of alcoholic beverages.


NEW! Recap of Small Business Week: The IRS joined the Small Business Administration in support of its 2022 National Small Business Week.
NEW! Face-to-face IRS help without an appointment available during special Saturday opening on May 14: This special Saturday help is available from 9 a.m. to 4 p.m., and without an appointment. Normally, TACs are open by appointment only on weekdays, 380 Westminster St, Providence, RI

NEW! Tax Tip 2022-73: Employers should choose their third-party payroll service provider wisely to prevent fraud

The IRS has opened the application period for Low Income Taxpayer Clinic (LITC) matching grants for calendar year 2023. Applications will be accepted from May 2 to June 16, 2022. IR-2022-99

Help for taxpayers and tax professionals: Special filing season alerts: News Release - May 6th Update

IRS Advisory Council issues 2021 Annual Report.

IRS News Releases for Current Month: Click Here

Capitol Hill

The House meets May 12 at 4:00 PM

The Senate meets May 12 at 4:00 PM

State of Rhode Island General Assembly: All Press Releases



NEW! May 2022 Newsletter: As state and local budget deliberations begin to heat up, RIPEC brings you an update on major public policy developments in the Ocean State.


AICPA Spring Council & Annual Members’ Meeting: The AICPA’s governing Council is the governing body of the AICPA and is comprised of approximately 265 members and representatives from every state and U.S. territory. Council meets twice a year, in May and October.

This Way to CPA: 

Making 2022 Count - advice from the AICPA Chair; Bill Pirolli CPA/CFF/PFS, CGMA Chair, American Institute of CPAs: Read More

AICPA TV: AICPA Town Hall Series: May 5th Edition

AICPA Benevolent Fund: The AICPA Benevolent Fund was created to support AICPA members with short-term personal financial needs. Program Information

Chartered Global Management Accountant: CGMA is the most widely held management accounting designation in the world with more than 137,000 designees. It was established in 2012 by the AICPA and CIMA to recognize a unique group of management accountants who have reached the highest benchmark of quality and competence. How to Earn the CGMA Designation.

All AICPA Advisory Credentials: Tip Sheet 

Employer Student Loan Repayment Assistance Program: Now a tax free benefit through 2025! More Information

Rhode Island Small Business Development Center is hosting a series of free events to help small businesses with their business and marketing needs. For more information, please CLICK HERE

COVID-19 Rhode Island Stats (as of 5/12/2022)

  • Total positive cases: 380,384
  • New cases per 100,000, last 7 days: 470.3
  • People hospitalized: 82
  • Total Fatalities: 3,548
  • Total number of tests: 7,883,750


  • People who are at least partially vaccinated in Rhode Island: 951,109
  • People who completed primary vaccine series in Rhode Island: 831,109
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