Gift Tax Returns – Common Mistakes
Gift tax returns are seductively simple. It’s not a long return, the template that the return requires be filled in does not seem particularly complex, so how hard can it be?
Non-Discrimination Testing for Qualified Defined Contribution Retirement Plans
Sponsors of certain defined contribution plans, namely 401(k) and 403(b) plans, need to be aware that these plans are subject to nondiscrimination tests known as the Actual Deferral Percentage (ADP) test and the Actual Contribution Percentage (ACP) test.
IRS to Waive Underpayment Penalty for Some Individual Taxpayers
In response to the extensive changes made by the Tax Cuts and Jobs Act (TCJA), many taxpayers may have been unable to accurately calculate their estimated tax requirements for 2018.
Form 990-PF: Avoiding Some Common Pitfalls
As we begin a new year, the focus of many private foundation managers will now shift from day-to-day operations and bookkeeping to the preparation of the foundation’s publicly disclosed Form 990-PF, Return of Private Foundation.
PKF O’Connor Davies Announces Promotion of 7 New Partners and 2 New Principals
Moves solidify Firm leadership in core areas while reinforcing commitment to developing talent from within
Time to Contemplate New York State’s Decoupling from the Federal TCJA
While some are shaking off those post-holiday blues and others are excited about their NFL playoff picks, New York accountants, tax lawyers and taxpayers have other things to ponder.
Cyber Roundup – January 2019
Concerning this month’s Cyber Roundup, a Millennial might text SSDD [the “polite” translation being: same stuff, different day]. Just another typical month in the annals of cyber security.
PKF O’Connor Davies Appoints Christopher Petermann and Garrett Higgins to Firm’s Executive Committee
Nominees Recommended by New Governance Committee
International Tax Considerations in Light of South Dakota v. Wayfair, Inc.
U.S. sales and use tax is governed on a state and local level. Compliance with rules and regulations has always been a challenge for multinational companies.
FASB Provides Additional Clarification on the New Lease Standard
The Financial Accounting Standards Board (FASB) recently issued an amendment to Accounting Standards Update (ASU) No. 2016-2, Leases (Topic 842) released on February 25, 2016.
Timothy Desmond Published as Contributing Author in Leading Book on Non Qualified Retirement Plans
Wolters Kluwer Book Details Legislative, Regulatory and Case Law Developments Affecting Nonqualified Plans
To Gift or Not to Gift?
The IRS recently issued Proposed Regulation §20.2010-1 which addresses previously raised questions regarding taxpayers who may be interested in taking advantage of the increased lifetime basic exclusion amount (BEA).