Newsletters

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  • IRS Issues Guidelines on Waiving Filing Deadlines for Foreign Corporations March 29, 2018 The IRS Large Business and International Division (LB&I) has issued guidelines for handling delinquent Forms 1120-F, U.S. Income Tax Return of a Foreign Corporation, and for making filing deadline waivers. Foreign ...
  • Fair Value Returns to the Spotlight March 29, 2018 In December 2015, the Financial Accounting Standards Board (FASB) released a proposal intended to improve financial statement disclosures about the estimates used to determine the fair values of assets and ...
  • Disclosure Relief: SEC Redefines “Smaller Reporting Company” March 29, 2018 In the coming months, the Securities and Exchange Commission (SEC) is expected to revise the definition of “smaller reporting company.” This change will allow more companies to file reports with ...
  • FASB Proposes Updated Standard for Cloud Computing March 29, 2018 The Financial Accounting Standards Board (FASB) recently issued a proposal to clarify how to account for the costs of setting up business software packages that are managed in the cloud. ...
  • COMPLIANCE ALERT March 9, 2018 Upcoming Compliance Deadlines: 4/1*     Initial required minimum distribution for participants who attained age 70½ in 2017 (applies to qualified plans where the participant is at least a 5% owner and to ...
  • DOL Increases Scrutiny of Defined Benefit Plans March 9, 2018 Defined benefit (DB) plan sponsors might be facing tighter scrutiny from the U.S. Department of Labor (DOL). Last year the DOL’s Employee Benefits Security Administration (EBSA) ramped up pension audit ...
  • Interpretation or Statutory Violation? Why it Matters When Deciding Remedies March 9, 2018 Do ERISA plan participants who believe a plan has treated them unjustly have to exhaust their administrative remedies before filing an action in court? Last year, the U.S. Sixth Circuit ...
  • Cash Balance Plans Growing at a Double-Digit Clip March 9, 2018 The hybrid pension design known as the cash balance plan is on a roll. An analysis of the most recent IRS Form 5500 filings available reveals a 17% jump in ...
  • Tax Cuts and Jobs Act Gives ― and Takes Away March 9, 2018 While early drafts of the Tax Cuts and Jobs Act (TCJA) proposed significant changes to qualified retirement plans, the version that passed has minimal impact on them. However, the TCJA ...
  • IRS Boosts Fees on Advance Pricing Agreements March 2, 2018 The IRS is increasing the fee it charges multinational business taxpayers for a unilateral or bilateral advance pricing agreement (APA). APAs are agreements that companies strike with the IRS to resolve ...