New York State Governor Rescinds Executive Order 38
In a recent little-publicized mandate, New York State Governor Kathleen Hochul formally rescinded Executive Order 38 (EO 38). EO 38 was previously put into effect by former New York State Governor Andrew Cuomo on January 18, 2012.
Transfer Pricing Considerations in the U.S. on a Federal and State Level
Multinational enterprises (MNE) with operations in the U.S. typically engage in cross-border transactions between related parties and consider transfer pricing rules and regulations on a federal level in the U.S. and the country where the related party is located.
Updated Fannie Mae and Freddie Mac Guidelines for Co-operative and Condominium Housing
In response to the structural collapse of the Champlain Towers South condominium in Surfside, Florida in June 2021, Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) have provided more stringent lending guidelines entailing scrutinization of the structural integrity of co-ops and condominiums and their cash reserve balances to correct any structural defects.
New Connecticut Apprenticeship Tax Credit
To assist Connecticut manufacturers more broadly in obtaining and training a qualified workforce, Connecticut recently expanded its Apprenticeship Tax Credit (ATC) to include S corporations, partnerships and limited liability companies (pass-through entities).
Equity and Inclusion Strategic Plan, Urban Redevelopment Authority of Pittsburgh (URA)
Katherine Patanaude, Senior Manager, considered the equity and inclusion policies and procedures of the City of Pittsburgh’s Urban and Redevelopment Authority (URA) as reported by an outside agency.
Reviewing and Updating Your Gift Acceptance Policy
Over the past several years, there have been many changes in the not-for-profit world, including the types of assets that donors are contributing to organizations.
Cyber Roundup – June 2022
You will see below a variety of cyber-criminal pursuits that occurred in a short period including business e-mail compromises, ransomware activity demanding payoffs and malware attacks along with others.
Interest Tracing Rules Can Unlock Tax Benefits
When a taxpayer borrows funds, the deductibility of the related interest expense is determined by how the loan proceeds are ultimately used and not how the loan proceeds are collateralized. These are often referred to as the interest tracing rules.
IRS Announces New Employee Plan Pre-Examination Compliance Pilot Program
Earlier this month, the IRS announced a new pilot program for pre-examination retirement plan compliance. The program is effective immediately.
M&A Deal Activity Slowed After a Record-Breaking 2021
North American merger and acquisition (M&A) deal volumes slowed down in first quarter 2022 after a record-setting 2021. Year-over-year deal volume decreased 11.5% over first quarter 2021. Deal activity, nevertheless, was still in line with that of the last five years.
The IRS Taxpayer Advocate Service
You often hear a relative or friend describe dealing with the Internal Revenue Service (IRS) as “distressful.” In case you didn’t know, the answer may be to complete Form 911, Request for Taxpayer Advocate Assistance.
Fraud Risk Considerations for Foundations
Fraud can come in many different shapes and forms, and it is vital for foundations to address the fraud risks that are specific to their operations.