FinCen releases FAQs to clarify Beneficial Ownership Information (BOI) reporting
FinCen’s new FAQs aim to clarify beneficial ownership information reporting requirements
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Key challenges for complying with FinCEN’s new beneficial owner reporting rules
Reporting changes for companies with beneficial owners takes effect on Jan. 1, 2024. Leverage these 10 steps to ensure you’re ready to comply and manage the risk that comes with these new rules
SECURE 2.0’s legislative impact on plan corrections
SECURE 2.0 expanded the Employee Plans Compliance Resolution System (EPCRS) to enhance the operational feasibility of qualified plans.
IRS releases spending plan for $80 billion IRA funds
The IRS issued an ambitious strategic operating plan for spending $80 billion in additional funding provided by the Inflation Reduction Act.
What does SECURE 2.0 mean for small employers?
SECURE 2.0 changes retirement plan rules for small employers with 100 or fewer employees.
ASC 740: FASB proposes new income tax disclosures
On March 15, 2023, the Financial Accounting Standards Board (FASB) released a proposed Accounting Standards Updates (proposed ASU) that includes certain amendments to Income Taxes (Topic 740).
Proposed regulations on using forfeitures in retirement plans
Proposed regulations REG-122286-18, released Feb. 24, provide guidelines for plan administrators to use forfeited amounts in retirement plans.
Retirement plan changes for long-term, part-time employees
SECURE 2.0 changes the rules for how long-term, part-time employees are treated for purposes of 401(k) and 403(b) retirement plans.
Required minimum distributions after SECURE 2.0
SECURE 2.0 changes the rules governing how and when certain retirement savers can withdraw money from their retirement accounts and IRAs.
Key takeaways for employers under the SECURE 2.0 Act of 2022
SECURE 2.0 Act significantly changes the tax rules governing qualified retirement plans and individual retirement accounts (IRAs).
Congressional midterm election results anxiously awaited
Tax and midterm elections: Whether or not Republicans take control of the House, tax policy centers on a year-end extenders bill.
IRS opens determination letter program for 403(b) plans
Revenue Procedure 2022-40, allows 403(b) retirement plans to use the same individually designed retirement plan determination letter program currently used by qualified retirement plans.
IRS makes statements on CARES Act Employee Retention Tax Credit risks
On Oct. 19, 2022 the IRS issued a news release warning employers to be wary of third parties who have ramped up campaigns to try and get employers to claim the CARES Act Employee Retention Tax Credit (ERTC) when they may not actually qualify.
Avoid these common pitfalls when establishing a retirement plan
When establishing a retirement plan, be sure to avoid common missteps when setting up your company’s retirement plan.
Taxes and the Inflation Reduction Act: What middle market businesses should know
Tax changes in the Inflation Reduction Act could affect middle market businesses despite targeting large corporations and high-income individuals.
Inflation Reduction Act passes Senate; House vote expected this week
The Inflation Reduction Act contains incentives for investment in the energy sector, a corporate alternative minimum tax, an excise tax on stock buybacks, IRS funding and an extension of business loss limitations.