Nominations Open for CalCPA Service Awards—Each year, CalCPA recognizes those members who go above and beyond the call of duty by awarding the Public Service and Distinguished Service awards, and the Public Service Award for Firms. If you know any person or firm deserving such accolades, review the qualifications and download a nomination form. The nomination deadline is Jan. 31.

Governor Signs Four Critical Bills—Gov. Schwarzenegger signed SB 819, which will require all California CPAs licensed after 2014 to have 150 hours of college education prior to licensing. The governor also signed AB 138 (mandatory peer review), AB 117 (license status disclosure) and AB 129 (reinstatement of taxpayer privilege).

Red Flag Rule Deadline Extended—The FTC has extended its "Red Flag" Rule compliance deadline to June 1. The rule requires small businesses and other entities to implement a written ID theft prevention program. The FTC has issued a how-to guide for businesses and the AICPA has released a guide for CPAs to create an ID theft prevention program.

CPE Requirement Changes—Effective for Jan. 1, 2010, license renewals, the CBA is amending the section of the California Code of Regulations that governs continuing education and license renewal for CPAs to, among other things, place ethics education at the forefront of the profession. Review the FAQs.

CA Tax System Overhaul Recommendations—Special commission calls for reducing personal income tax; eliminate corporation tax and minimum tax; and establishing a business net receipts tax, among other changes. Download the report.

Adjusted 2009 State Income Tax Rates—Check out the changes to filing requirement thresholds, standard deductions and certain credits. Download the tax rates.

Recovery Act Benefits—The American Recovery and Reinvestment Act provides tax incentives for first-time homebuyers, people purchasing new cars, those interested in making their homes more energy efficient and more. But they have expiration dates. Make sure your clients don't miss out.