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.
LEARN MOREFASB Issues Updated Guidance on Reporting for Gifts of Nonfinancial Assets
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.
Affordable Housing Organizations: 10 Reasons to Proactively Alert Your Auditors
Auditors are typically very good at uncovering potential financial issues or oversights that could put an affordable housing project in jeopardy.
Election Year Tax Planning
The 2020 presidential election is now less than two months away, and the outcome remains patently unclear.
Webinar Replay: Managing IRS Examinations of ESOPs
In this webinar, PKF O’Connor Davies and Holland & Knight shared their insight and expertise on how to effectively prepare […]
Webinar Replay: The Cryptocurrency Business – What’s Next and Do’s & Don’ts
This webinar panel discusssion by the industry specialists explored the current state of the cryptocurrency business, markets and trends and […]
Webinar Replay: Key State Tax Strategies During the Pandemic
This webinar offered an in-depth look at State and Local Tax (SALT) challenges and opportunities created by today’s unprecedented work […]
Webinar Replay: The Intersection of PPP Loan Forgiveness and Tax Planning
This webinar reviewed the tax planning questions and opportunities relating to your PPP loan. How will forgiveness affect your 2020 […]
Cyber Roundup – September 2020
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.
PKF O’Connor Davies Announces New Committee Appointments and Promotions
PKF O’Connor Davies, LLP, one of the nation’s largest accounting, tax, and advisory firms, announced today several new appointments to its Executive Committee and Governance Committee, as well as a promotion in the Tax practice area.
Your Retirement Plan Benefit Statement Will Be Changing
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.
IRS Increases User Fees in 2021
Last month, the IRS announced increases to the User Fees related to certain requests for letter ruling and determination letter requests.
Pooled Employer Plans
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).