According to current guidelines, 401(k) plans may provide that an employee can receive a distribution of his or her elective contributions due to a financial hardship arising from certain events such as medical bills, tuition payments or purchase of a principal residence.
According to the IRS, opinion and advisory letters (i.e., for prototype and volume submitter type of plans, respectively) are expected to be issued for 403(b) plans in the second quarter of 2017.
A major shift has occurred in how the IRS will handle partnership tax examinations in the future. The IRS has created new centralized procedures for the audit, assessment, and collection of tax.
Understanding the financial health of a prospective and/or a recurrent grant recipient is an essential function throughout the grant management process.
Intangibles — Goodwill and Other (Topic 350), Accounting Standards Update (ASU) 2017-04, Simplifying the Test for Goodwill Impairment was recently issued by the Financial Accounting Standards Board (FASB or the Board).
If your organization operates globally and selected employees are assigned to international locations on behalf of your company, you and these employees should be cognizant of the complexities of international tax requirements. Here is some information which may assist you in strategically handling such assignments.