Articles
When is it Time to Call a Forensic Accountant?
Timing is everything, as they say. Determining when it’s time to seek the services of a forensic accountant can make all the difference when you’re involved in a business or personal dispute.
Broker-Dealers with Operating Leases: SEC No-Action Relief
In anticipation of Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842) becoming effective, now is a good time to discuss the potential impact of this new guidance from the Financial Accounting Standards Board (FASB) on accounting for operating leases for broker-dealers.
Federal Tax Reform: Impact on Foundations as Employers
While there are limited effects from the enactment of the Tax Cuts and Jobs Act (the Act) for most private foundations, one such consequence applies to foundations and other tax-exempt organizations as employers.
Federal Tax Reform: Consequences on Tax-Exempt Organizations as Employers
The effects of the new tax law are wide-ranging and getting out information to our clients is our goal.
The Carried Interest Battleground Now Moves to the State Level
President Trump signed the Tax Cuts and Jobs Act of 2017 into law on December 22, 2017. A collective sigh of relief could be heard across the investment management community as the worst fear of investment managers apparently had not materialized: the carried interest had survived.
Audit Responsibilities: A Refresher for Board Members
As we begin the new year, it might be a good time to review requirements and best practices for board members as they relate to their organization’s annual audit.
Proposed Amendments to Impending Implementation of Changes to Accounting for Leases (Topic 842)
The Financial Accounting Standards Board (FASB or Board) recently proposed two amendments to improve Accounting Standards Update No. 2016-02, Leases (Topic 842).
Expanded PBGC Program to Locate Lost Defined Contribution Plan Participants
On December 22, 2017, the Pension Benefit Guaranty Corporation (PBGC) issued final regulations permitting the expansion of its existing Missing Participants Program (the “Program”) to include defined contribution (DC) plans.
IRS Voluntary Correction Program (VCP) User Fee Changes Effective in 2018
Effective January 2, 2018, the Internal Revenue Service (IRS) simplified the user fees charged for most submissions made under the Voluntary Correction Program (VCP).
Federal Tax Reform: Impact on Tax-Exempt Organizations and Their Donors
The President signed the Tax Cuts and Jobs Act (TCJA) into law on December 22, 2017. The final law contained provisions from the competing bills proposed by the House and Senate.
Summary of IRS Examinations of Retirement Plans
During 2017, the Employee Benefit Service Group Practice of PKF O’Connor Davies, LLP represented a number of plans that had been selected for examination by the Internal Revenue Service (IRS).
Federal Tax Reform: Impact on Tax-Exempt Organizations and Their Donors
The President signed the Tax Cuts and Jobs Act (TCJA) into law on December 22, 2017.