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  • IRS and the Self-Correction Program for Plan Failures October 7, 2019 If your plan offers participants a plan loan option and you’re not infallible, here’s some good news: A recent IRS Revenue Procedure allows plan sponsors to jump through fewer hoops ...
  • Will a Merger or Acquisition Effect Your 401(k) Plan? October 7, 2019 ERISA issues and higher costs Is your company contemplating buying another company, or a division of one? If so, be sure to assess and plan for the impact on your 401(k) ...
  • Coming soon: Proposal to improve audit procedures for accounting estimates September 20, 2019 In July, the AICPA’s Auditing Standards Board (ASB) unanimously voted to propose revisions to the audit standards on the use of accounting estimates. The ASB wants to improve the standards ...
  • How strong are your company’s internal controls? September 20, 2019 A solid system of internal controls translates into more reliable financial reporting and can help companies prevent, detect and correct financial misstatements. In contrast, weak controls can result in costly ...
  • Accounting for Acquired Goodwill September 20, 2019 Goodwill is an acquired intangible asset that can affect earnings if it declines in value. The Financial Accounting Standards Board (FASB) is soliciting feedback on this topic as it considers ...
  • Six issues targeted in IRS compliance campaigns September 12, 2019 In January 2017, the IRS announced a new audit strategy for its Large Business and International (LB&I) Division known as “campaigns.” With the campaigns, LB&I essentially shifts its examinations based ...
  • IRS issues Q&As on Section 965 transfer and consent agreements September 12, 2019 The IRS recently issued questions and answers (Q&As) regarding the transition tax imposed by Internal Revenue Code Section 965. Under finalized regs issued early in 2019, Sec. 965 generally requires ...
  • Final regs address partnership’s allocation of creditable foreign tax expenditures September 12, 2019 The IRS recently issued final regulations on the operation of a safe harbor rule that’s used in determining whether allocations of partnership creditable foreign tax expenditures (CFTEs) to partners are ...
  • Compliance Alert 2019 August 5, 2019 COMPLIANCE ALERT Upcoming compliance deadlines: 9/16*   Extended deadline for S corporation tax returns (IRS Form 1120S) 9/16*   Extended deadline for partnership tax returns (IRS Form 1065) 9/30     Summary Annual Report (SAR) due for Form ...
  • De-risking the Defined Benefit Pension Model August 5, 2019 Private sector employers have been retreating from the defined benefit (DB) pension model for decades. This is largely motivated by a desire to “de-risk” the company from a financial obligation ...