Insights

Sponsors of certain defined contribution plans, namely 401(k) and 403(b) plans, need to be aware that these plans are subject to nondiscrimination tests known as the Actual Deferral Percentage (ADP) test and the Actual Contribution Percentage (ACP) test.

In response to the extensive changes made by the Tax Cuts and Jobs Act (TCJA), many taxpayers may have been unable to accurately calculate their estimated tax requirements for 2018.

As we begin a new year, the focus of many private foundation managers will now shift from day-to-day operations and bookkeeping to the preparation of the foundation’s publicly disclosed Form 990-PF, Return of Private Foundation.

While some are shaking off those post-holiday blues and others are excited about their NFL playoff picks, New York accountants, tax lawyers and taxpayers have other things to ponder.

Concerning this month’s Cyber Roundup, a Millennial might text SSDD [the “polite” translation being: same stuff, different day]. Just another typical month in the annals of cyber security.

U.S. sales and use tax is governed on a state and local level. Compliance with rules and regulations has always been a challenge for multinational companies.

The Financial Accounting Standards Board (FASB) recently issued an amendment to Accounting Standards Update (ASU) No. 2016-2, Leases (Topic 842) released on February 25, 2016.

The IRS recently issued Proposed Regulation §20.2010-1 which addresses previously raised questions regarding taxpayers who may be interested in taking advantage of the increased lifetime basic exclusion amount (BEA).

Recently, the Internal Revenue Service (IRS) issued interim guidance (Notice 2018-99) concerning the tax treatment of certain qualified transportation fringe benefits (QTFBs) expenses paid or incurred after December 31, 2017.