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  • Keep Your Eye on the Ball July 12, 2018 Plan forfeitures must match plan document It’s a routine matter for employees to forfeit retirement plan benefits. Even so, plan sponsors can’t afford to become blasé about it; ERISA demands more ...
  • New Rules Affect Disability Benefit Claim Denials in Retirement Plans July 12, 2018 Does your retirement plan (or other ERISA-regulated benefit, including nonqualified “top hat” plans) contain a disability benefit? If so, do you know about the new DOL rules that took effect ...
  • COMPLIANCE ALERT July 12, 2018 Upcoming compliance deadlines: 9/17*   Extended deadline for corporate tax returns 9/17*   Extended deadline for partnership tax returns 9/30** Summary Annual Report (SAR) due for Form 5500 that was due July 31, unless extension ...
  • IRS Plans Another Delay for Foreign Currency Regs July 3, 2018 In guidance, the IRS has announced that it intends to amend regulations on income and currency gains or losses by a qualified business unit (QBU) with a functional currency that differs ...
  • Expert Witness Barred from Testifying for Taxpayer in a FBAR Case July 3, 2018 In the case heard in the U.S. District Court for the District of Connecticut, the IRS alleged that a taxpayer had willfully failed to report his interest in a foreign ...
  • Current Tax Law Offers Incentives to Send Profits to Tax Havens July 3, 2018 The Tax Cuts and Jobs Act (TCJA), passed in December of 2017, was aimed at dissuading U.S. companies from moving profits offshore. However, it may make shifting earnings to tax ...
  • Are You Ready for the New Credit Losses Standard? June 27, 2018 The new credit losses standard will require banks and other creditors to recognize losses on bad loans earlier than under current U.S. Generally Accepted Accounting Principles (GAAP). It goes into ...
  • Rolling Back Dodd-Frank, Piece By Piece June 27, 2018 On the campaign trail, President Trump promised to “do a big number” on the postcrisis Wall Street reforms. So far, he’s signed a bill easing Dodd-Frank-Act-mandated supervision of small and ...
  • Under New Management: PCAOB Outlines Priorities for Coming Year June 27, 2018 In early 2018, the leadership of the Public Company Accounting Oversight Board (PCAOB) changed hands. The new board members have taken a fresh look at the previous standard-setting agenda. In ...
  • The Supreme Court Lets Million-Dollar FBAR Penalty Stand June 19, 2018 The U.S. Supreme Court declined to review a Ninth Circuit Court of Appeals ruling that an IRS penalty imposed on a taxpayer wasn’t excessive and that the tax agency didn’t ...