Industry Insights

Insights Menu

firm news

audit articles

employee benefit plan articles

tax articles

international tax articles

Our insights are geared to keep you informed on the most relevant topics in your industry. We are your knowledge resource for information on:

Audit
Employee Benefit Plans
Tax
International Tax

 

Receive Industry Insights

 

All Industry Insight Articles

  • FASB abandons proposed changes to definition of materiality December 11, 2017 In November, the Financial Accounting Standards Board (FASB) ended work on its controversial proposal to redefine “materiality” as it applied to U.S. Generally Accepted Accounting Principles (GAAP). The changes would ...
  • IRS outlines penalty for not filing international information return November 13, 2017 In a recently updated international practice unit (IPU), the IRS explained the penalty for U.S. taxpayers who fail in their obligations to file Form 5471, “Information Return of U.S. Persons ...
  • Introducing the new-and-improved hedge accounting rules October 18, 2017 The Financial Accounting Standards Board (FASB) recently issued Accounting Standards Update (ASU) No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. The updated standard makes ...
  • Assets and liabilities: Will FASB redefine the basics? October 18, 2017 A recent Financial Accounting Standards Board (FASB) meeting addressed updating the so-called “building blocks” of financial statements. Board members want to simplify the definitions of assets and liabilities and make ...
  • Balancing the needs of private businesses vs. financial statement users October 18, 2017 The formation of the Private Company Council (PCC) has created “cultural evolution” at the Financial Accounting Standards Board (FASB). The FASB has found that balancing the needs of private companies ...
  • Court bars tax deduction on sham transaction October 18, 2017 A U.S. District court has determined that a United States–based bank, having been denied foreign tax credits for UK taxes paid in connection with a Structured Trust Advantaged Repackaged Securities ...
  • Global NewsBits October 18, 2017 EU Commission wants tech companies to pay fair share of taxes Digital companies in the European Union (EU) pay less than half the amount of tax that other companies pay, the ...
  • Commercial pilot fails tests for foreign earned income exclusion October 18, 2017 The U.S. Tax Court has held that a commercial airline pilot stationed in South Korea failed both the “tax home” and the “bona fide residence” tests that determine whether a ...
  • COMPLIANCE ALERT October 10, 2017 Upcoming compliance deadlines: 12/1     Deadline for 401(k) and (m) safe harbor notice, annual qualified default investment alternative (QDIA) notice, and qualified automatic contribution arrangement (QACA) notice (can be made up to ...
  • Why adding a Roth 401(k) option could boost employee savings October 10, 2017 A decade after they first became available, Roth 401(k) plans are now offered by many employers. Employees are also getting on board — particularly the younger ones — even without ...