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  • IRS Adds to Lists of Countries with Reporting Requirements October 22, 2018 The IRS has updated two lists of countries with which the U.S. has an agreement that requires certain payments to be reported to the United States. One list is of countries ...
  • All Combat-Zone Contract Workers May Qualify for Foreign Earned Income Exclusion October 22, 2018 U.S. citizens or resident aliens, and specifically contractors or their employees supporting the U.S. Armed Forces in combat zones, may qualify for the foreign earned income exclusion. Qualified individuals may exclude ...
  • RICs Can Defer Distributing Transition Tax Amount October 22, 2018 In a Revenue Procedure, the IRS has allowed regulated investment companies (RICs) to postpone to 2018 the inclusion of the Code Section 965 transition tax in gross income for purposes ...
  • How Will the New Accounting and Tax Rules Affect Your Earnings? October 11, 2018 The Tax Cuts and Jobs Act (TCJA) lowered corporate income taxes overall and established new categories for foreign income subject to taxation. But the fine print also contains a narrow ...
  • Conceptual Framework: Clarifying the Disclosure Rules October 11, 2018 The disclosure requirements under U.S. Generally Accepted Accounting Principles (GAAP) have gotten a bad rap for being overly burdensome and containing too much boilerplate language. In recent years, the Financial ...
  • Why Auditors Require Face-to Face Meetings to Assess Fraud Risks October 11, 2018 Auditing standards require auditors to identify and assess the risks of material misstatement due to fraud and to determine overall and specific responses to those risks. Here’s what auditors look ...
  • COMPLIANCE ALERT October 5, 2018 Upcoming compliance deadlines: 10/1     First day to distribute qualified default investment alternative (QDIA), safe harbor, and automatic contribution arrangement annual notices to plan participants (no earlier than today) 10/1     Deadline for establishing a ...
  • New IRS Preapproved Plan Regime Takes Effect October 5, 2018 Last year, in Revenue Procedure 2017-41, the IRS announced a new regulatory regime for defined contribution plans. The regime was issued, according to the agency, “to expand the Provider ...
  • Investing in HSAs for Long-Term Retirement Goals October 5, 2018 Retirement plans are about saving for the cost of living in ― retirement. And typically one significant expense for retirees is medical bills. Actuaries at Fidelity Investments estimate that a ...
  • Investment Option Overload? October 5, 2018 A cautionary tale from Yale University   When it comes to defined contribution plan investment options, giving participants an abundance of choices can backfire. Yale University recently dodged a bullet in this ...