Insights
International Tax Insights | December 2018
We are pleased to present our new e-publication International Tax Insights. It is our intention to regularly cover tax topics that affect businesses with international connections.
FinCEN Renews and Expands Geographic Targeting Orders for Residential Real Estate Deals
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) recently announced the six-month renewal of the existing Geographic Targeting Orders (GTOs) relating to money laundering concerns associated with all-cash purchases of high-end residential real estate properties.
Cyber Roundup – December 2018
Is your organization ready for a review of its current cybersecurity policies and procedures? How about a “phishing” test?
PKF O’Connor Davies Welcomes GKG CPAs
Strategic growth initiative expands expertise in transportation, food manufacturing and processing and employee benefit plans.
ESOP and Rewards Optimization
A large number of employee stock ownership plan (ESOP) sponsors are faced with complex issues relating to their rewards program.
2018 New Jersey Tax Amnesty Program Is Active Through January 15th
The New Jersey Division of Taxation made its highly anticipated announcement on November 15, 2018 that the 2018 New Jersey Tax Amnesty Program, signed into law on July 1, 2018 by Governor Murphy, is active and will run through January 15, 2019.
PKF O’Connor Davies Shortlisted for 6 Family Wealth Report Awards
Tax Advice, Philanthropy Advice, Solutions for International Americans, Management Consultancy Services, Accountancy Advice and Innovative Client Solutions Recognized
Revolution in the Workplace: How Companies and Accounting Firms Can Win
Digitization, artificial intelligence and cloud-based systems herald a workplace revolution as temporary professionals come to the rescue.
2019 Focus of the IRS Tax-Exempt Division
Heading into a new fiscal year, the Internal Revenue Service (IRS) Tax Exempt & Government Entities (TE/GE) Business Operating Division recently announced that they will continue to execute compliance strategies, build better processes, and provide useful information and guidance on the Tax Cuts and Jobs Act (TCJA).
Reporting Management and General Expenses: Getting It Right under FASB ASU 2016-14
As required by the Financial Accounting Standards Board’s (FASB) Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, not-for-profit organizations (NFPs) must include in their financial statements or note disclosures total expenses by function and natural class.
SEC Updates: Disclosure Requirements and Definition of Smaller Reporting Companies
The SEC recently issued two promulgations: (1) a rule change amending certain disclosure requirements, and (2) an amendment to the definition of a smaller reporting company. We have summarized the information contained in each.
Related Party Consolidation Guidance Amended by the FASB
The Financial Accounting Standards Board (FASB) recently issued Accounting Standards Update (ASU) 2018-17 Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities.