Articles
Guidelines for Substantiating Hardship Distributions from a 401(k) Plan
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.
IRS to Issue Advisory and Opinion Letters for 403(b) Plans
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.
The New Partnership Tax Audit Rules: Are You Prepared for Change in 2018?
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.
IRS Appeals: How to Navigate the Process
The Office of Appeals (“Appeals”) is a unit of the IRS which is separate and independent of the IRS Tax Examination Division (“Examination”) which conducts tax audits.
Assessing the Merit of Grant Recipients: What Every Foundation Manager Should Know
Understanding the financial health of a prospective and/or a recurrent grant recipient is an essential function throughout the grant management process.
FASB Narrows the Definition of a Business
The Financial Accounting Standards Board (FASB or the Board) recently issued Business Combinations (Topic 805), Accounting Standards Update (ASU) 2017-01, Clarifying the Definition of a Business.
FASB Simplifies Measurement of Goodwill Impairment
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).
Deal Synergies – Some Considerations
Part of any deal analysis includes the impact of synergies which, many times, becomes the prevailing reason to complete the deal in the first place.
Termination and Break-Up Fees
Most business sale/purchase agreements contain a termination agreement.
Planning Your Employee International Assignments
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.
Assessing Your Company’s Fraud Risk
Is cash flow tight? Could “trusted” employees be dipping their hands in the cookie jar? Over the past several months there has been an uptick of company management and frontline employees getting caught diverting funds for their own use.