Newsletters

All Newsletter Articles

  • Commercial pilot fails tests for foreign earned income exclusion October 18, 2017 The U.S. Tax Court has held that a commercial airline pilot stationed in South Korea failed both the “tax home” and the “bona fide residence” tests that determine whether a ...
  • COMPLIANCE ALERT October 10, 2017 Upcoming compliance deadlines: 12/1     Deadline for 401(k) and (m) safe harbor notice, annual qualified default investment alternative (QDIA) notice, and qualified automatic contribution arrangement (QACA) notice (can be made up to ...
  • Why adding a Roth 401(k) option could boost employee savings October 10, 2017 A decade after they first became available, Roth 401(k) plans are now offered by many employers. Employees are also getting on board — particularly the younger ones — even without ...
  • Reimbursement road map for sponsor services October 10, 2017 When retirement plan sponsors perform administrative services on behalf of the plan, they can be reimbursed by the plan for those services. However, meticulous expense documentation is essential, as a ...
  • How high can you go? Participants willing to accept higher default deferral rates October 10, 2017 It’s generally accepted that 3% isn’t a very ambitious 401(k) plan deferral rate, and won’t get many employees where they need to be financially as they approach retirement unless they ...
  • Deciding what to do with orphaned 401(k) plan accounts October 10, 2017 With employees changing jobs more frequently than they once did and Baby Boomers hitting retirement age, it’s common for 401(k) plans to include a significant number of orphan accounts. If ...
  • IRS launches CbC reporting pages and FAQs August 24, 2017 The IRS recently introduced its new Country-by-Country reporting website pages and published frequently asked questions related to the reports. The IRS CbC website includes a CbC reporting guidance page (http://bit.ly/2v3lxin) that ...
  • Anti-Injunction Act blocks efforts for more lenient tax treatment August 24, 2017 The U.S. Court of Appeals for the District of Columbia Circuit, affirming a district court, has concluded that the Anti-Injunction Act barred the suit of taxpayers who didn’t meet the ...
  • High Court refuses to review bank’s foreign tax credits August 24, 2017 The Supreme Court declined to review an appeals court ruling that the “trust” component of a Structured Trust Advantaged Repackaged Securities (STARS) transaction lacked economic substance. Background: The U.S. Court of ...
  • Fewer restatements linked to stronger internal controls August 9, 2017 Publicly traded companies seem to be getting better at presenting reliable financial statements. In May, research firm Audit Analytics found that the total number of restatements dropped to 6.83% (or ...