Newsletters

All Newsletter Articles

  • 2017 vs. 2018 Retirement Plan Limits January 3, 2018 Type of limitation 2017 limit 2018 limit Elective deferrals to 401(k), 403(b) and 457(b) plans $18,000 $18,500 Annual benefit for defined benefit plans $215,000 $220,000 Contributions to defined contribution plans $54,000 $55,000 Contributions to SIMPLEs $12,500 $12,500 Contributions to IRAs $5,500 $5,500 Catch-up contributions to 401(k), 403(b) and ...
  • Identity Theft Threat Puts Plan Participants and Sponsors at Risk January 3, 2018 News of commercial database hackings involving millions of people’s personal information seems commonplace. While many of these stories focus on bank and credit card accounts, many plan sponsors and participants ...
  • Tax Cut Law a Mixed Bag for Retirement Plan Sponsors January 3, 2018 Despite early indications that Congress was prepared to do much more, the Tax Cuts and Jobs Act (TCJA) that was passed in December largely left retirement plans unscathed, save for ...
  • 10 Common Retirement Plan Audit Red Flags December 27, 2017 In a recent industry presentation, members of the Briggs & Veselka Co.’s Employee Benefit Plan Audit team – Kevin Hengst, Mandy Bobeck, and Calvin Upton – highlighted some of the ...
  • IRS continues its fusillade of audit campaigns December 11, 2017 The Large Business and International (LB&I) division of the IRS recently announced 11 additional issues that it will be targeting as part of its “compliance campaign” audit strategy. The IRS had ...
  • IRS guides auditors on foreign and domestic check-the-box rules December 11, 2017 In an international practice unit (IPU), the IRS has provided its auditors with guidance about various aspects of the “check-the box” rules, including rules that differ for foreign and domestic ...
  • Taxpayer found liable for a million dollar FBAR penalty December 11, 2017 The U.S. Court of Appeals for the Ninth Circuit upheld a district court ruling, finding that a taxpayer had willfully failed to file a Report of Foreign Bank and Financial ...
  • Should non-GAAP measures be audited? December 11, 2017 U.S. Generally Accepted Accounting Principles (GAAP) are a set of rules and procedures, created by the Financial Accounting Standards Board (FASB), that accountants typically follow to record business transactions. Private ...
  • How the revenue recognition standard will affect bad debts in health care December 11, 2017 Revenue, the top line of the income statement, gets a lot of attention. But it’s about to receive even more attention starting in 2018 for public companies and 2019 for ...
  • FASB abandons proposed changes to definition of materiality December 11, 2017 In November, the Financial Accounting Standards Board (FASB) ended work on its controversial proposal to redefine “materiality” as it applied to U.S. Generally Accepted Accounting Principles (GAAP). The changes would ...