Insights Center: 2025 Tax & Legislative Changes
Individuals, businesses and not-for-profit organizations are all affected by the new tax law – and we are ready to help. Start by staying informed; you’ll find our analyses of the new law’s many provisions here.
As we enter the last quarter of the year, now is the time for private foundations to review the current year’s tax planning and year-end strategies.
Owners and/or operators of hotels and restaurants are facing unprecedented times.
Our readers know that every industry is impacted by cybercrime. They also know that individuals, as well, are targeted. When these attacks seriously affect the well-being of our school kids and hospital patients ‒ as you will read in this edition ‒ we are all outraged.
As we move passed the six-month mark of being immersed in the global COVID-19 pandemic, it is important to reflect and appreciate where we have been to allow us to strategize and plan for where we need to go next.
The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-08 which is intended to clarify and improve the scope and accounting guidance for contributions received and made, primarily for not-for-profit organizations.
Recently, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2020-07, Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets.
Auditors are typically very good at uncovering potential financial issues or oversights that could put an affordable housing project in jeopardy.
The 2020 presidential election is now less than two months away, and the outcome remains patently unclear.
In a world dramatically reshaped by the Pandemic, one constant remains: cybercrime motivation. While the number of breaches dropped during the first half of 2020, my prediction is that it will return to an upward shift.
The Department of Labor (DOL) has recently published Interim Final Regulations (Regulations) pursuant to changes enacted by the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) which require plan administrators of defined plans [e.g., 401(k) and 403(b)] to express a participant’s current account balance both as a single life annuity and a qualified joint and survivor annuity stream on their pension benefit statements at least once every 12 months.
Last month, the IRS announced increases to the User Fees related to certain requests for letter ruling and determination letter requests.
The Setting Every Community Up for Retirement Enhancement Act of 2019 (the SECURE Act) amended the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code (IRC) to establish a new type of multiple employer plan (MEP) called a “pooled employer plan” (PEP) that must be administered by a person called a “pooled plan provider” (PPP).