If you’re planning on taking the CPA Exam in 2018, it’s important to consider sitting for the REG section of the Exam now. Why? The new tax bill passed in December of last year will be eligible for testing on REG beginning January 1, 2019. At that time, CPA Candidates won’t only need to understand the facets of the new tax bill, but also how to apply it to real life situations—all of which will be new information and material topics included on the REG section next year. Therefore, sitting for REG before these monumental changes occur is highly recommended.
Why Is It Critical to Sit for REG Now?
From the AICPA:
The AICPA Board of Examiners (BOE) recently approved January 1, 2019 (19Q1) as the date on which content related to the “Tax Cuts and Jobs Act” (Public Law No. 115-97 An act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018) will be eligible for testing on the Uniform CPA Examination (the Exam).
What does that mean for CPA Candidates wanting to avoid the massive REG changes? Sit for REG before the Q4 2018 testing window ends on December 10th, 2018.
What Reg Content Areas Will Be Most Affected by the Tax Bill?
The REG content areas most affected will be Federal Taxation of Property Transactions (12-22%), Federal Taxation of Individuals (15-25%), and Federal Taxation of Entities (28-38%).
Content areas that will be most affected by the tax plan will be Areas III, IV, and V.
|Area I||Ethics, Professional Responsibilities and Federal Tax Procedures||10–20%|
|Area II||Business Law||10–20%|
|Area III||Federal Taxation of Property Transactions||12–22%|
|Area IV||Federal Taxation of Individuals||15–25%|
|Area V||Federal Taxation of Entities||28–38%|
What If I’m Not Prepared to Sit for REG Now?
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