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  • COMPLIANCE ALERT May 28, 2018 Upcoming compliance deadlines: 6/30*   Deadline for processing corrective distributions for failed actual deferral percentage / actual contribution percentage (ADP/ACP) tests from plans with eligible automatic contribution arrangement (EACA) without 10% excise ...
  • New Tax Act – Impact on Entertainment Deduction May 10, 2018 The Tax Cuts and Jobs Act is the most substantial tax law change since 1986. One area that taxpayers will feel a significant impact is with respect to meals and entertainment ...
  • IRS Determines Housing Taxpayer Cost Allowances for High-Cost Cities April 27, 2018 In Notice 2018-33, the IRS has announced 2018 adjustments to the limitation on housing expenses under the housing cost exclusion for specific locations.  The guidance further provides that some taxpayers may ...
  • FBAR Violation Can be Shown by Preponderance of Evidence April 27, 2018 The U.S. District Court of Connecticut has held that the IRS may prove that a taxpayer failed to timely file a Foreign Bank and Financial Accounts Report (FBAR) by a ...
  • Coca-Cola’s Challenge to Huge Tax Bill is Closely Watched April 27, 2018 The Coca-Cola Company is disputing a $3.3 billion tax bill related to transfer pricing. The case in U.S. Tax Court is being watched by tax experts and is considered a ...
  • Materiality and Disclosures: FASB Decides to Maintain the Status Quo April 26, 2018 On March 21, the Financial Accounting Standards Board (FASB) abandoned plans to 1) amend the definition of “materiality” and 2) give businesses more discretion when determining what to include in ...
  • Reporting for Income Taxes April 26, 2018 Federal income taxes have been given a lot of attention this year, thanks to the Tax Cuts and Jobs Act (TCJA). Companies that issue financial statements under U.S. Generally Accepted ...
  • How Does Your Company’s Pay Measure Up? April 26, 2018 Under the Dodd-Frank Act, public companies must calculate and disclose a ratio comparing CEO compensation to the median compensation for other employees. Although this requirement was finalized in 2015, companies ...
  • More Than 100 Countries Agree to Seek Digital Tax Consensus by 2020 March 29, 2018 Some 110 countries have agreed to work toward forming an international consensus by 2020 on how to tax digital businesses across borders, according to the Organisation for Economic Co-operation and ...
  • IRS to End Offshore Voluntary Disclosure Program in September March 29, 2018 The IRS announced it will begin to ramp down its Offshore Voluntary Disclosure Program (OVDP) and close it on Sept. 28, 2018. This gives taxpayers with undisclosed foreign financial accounts time ...