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  • Court upholds Freedom of Information Act exemption for IRS June 24, 2019 The U.S. Court of Appeals for the Federal Circuit recently handed down its decision in Agrama v. U.S. The case focused on whether the IRS satisfied its Freedom of Information ...
  • Taxing S corporation income otherwise allocable to nonresident alien owners of ESBTs June 24, 2019 The IRS has issued proposed regs that would ensure that the income of an S corporation will continue to be subject to U.S. income tax even when a nonresident alien ...
  • Recognition and deferral of foreign currency gain or loss June 24, 2019 In May, the IRS issued final regs on the combinations and separations of qualified business units (QBUs) subject to Internal Revenue Code Section 987. The regs also address the recognition ...
  • Financial Reporting: Comparability vs. Convergence June 10, 2019 The global financial reporting project is alive and well, according to Russell Golden, Chairman of the Financial Accounting Standards Board (FASB). Despite rumors that the FASB and the International Accounting ...
  • New inline XBRL requirements June 10, 2019 The Securities and Exchange Commission (SEC) adopted a rule in June 2018 to require public companies to embed interactive data tags directly into their financial statements using a process called ...
  • More details on the income statement June 10, 2019 Ideally, investors should be able to get sufficient information about a company’s future cash flows by looking at the income statement. But they currently don’t because expense information is too ...
  • EBP June/July Compliance Alert June 4, 2019 Upcoming compliance deadlines for benefit plans: 6/30*   Deadline for processing corrective distributions for failed actual deferral percentage / actual contribution percentage (ADP/ACP) tests from plans with eligible automatic contribution arrangements (EACAs) ...
  • Qualified Domestic Relations Order (QDRO) June 4, 2019 What makes a domestic relations order a qualified domestic relations order, or QDRO? The distinction is essential for retirement plan administrators when deciding whether to accept a state court’s instructions ...
  • ERISA plan differentiation June 4, 2019 Not every plan that benefits retirees is an ERISA plan The fact that a compensation arrangement can provide a substantial source of income in retirement doesn’t make it subject to ERISA. ...
  • ERISA disclosure 101: plan sponsor obligations June 4, 2019 Qualified retirement plan sponsors are subject to many disclosure requirements. Here’s a “top ten” (and thus incomplete) list of key required defined contribution plan disclosure documents from the Department of ...