It is critical that businesses, partnerships, trusts and estates, charities, and other entities with Employer Identification Numbers or EINs update responsible party information within 60 days of change to allow timely notification of indentiy theft or other fraud issues.
When assessing your tax situations for 2021 and subsequent years, consider whether you may benefit from traditional tax accounting method planning, which aims to defer income recognition and accelerate deductions, or “reverse” tax accounting method planning, which does the opposite.
Administrative internships are available in our Louisville (KY), New Albany (IN), or Corydon (IN) office for the upcoming tax season.
Accounting internships are available in our Louisville (KY), New Albany (IN), or Corydon (IN) office for the upcoming tax season.
Given the uncertainty of whether tax changes will be enacted and as of when, individuals who have not recently updated their estate plans should consider estate planning options, sooner rather than later.
Financial wellness tools offered by employers may have varying levels of impact for different generations.
The Biden Administration has made tax policy a legislative priority, but will we actually see a 2021 tax bill, and what might it include?
The recently published Green Book contains proposed changes that could result in the limited partner self-employment tax exception coming to an end.
On August 6, 2021, the IRS announced that no 2020 Form 5500 is required for employers who in 2021 retroactively adopt a tax-qualified retirement plan for 2020.
The IRS issued Notice 2021-49 on August 4, 2021, providing long-awaited employee retention credit guidance for employers that have taken or are considering taking the ERC.
The Treasury and IRS are providing a gross receipts safe harbor for employers seeking to claim the Employee Retention Credit (ERC), allowing the exclusion of certain amounts in determining eligibility for the credit.
The current 401(k) plan restatement cycle will close on July 31, 2022; all plan documents need to be not only restated by then, but also certified by the IRS, and adopted by employers.
Section 1202 of the Internal Revenue Code is growing in popularity among investors and may become even more valuable in 2022.
Although there are a number of ways for nonprofit organizations that now have surplus funds to approach reinvesting for growth, consider focusing in these areas.
Employers who requested an extension for their 2020 tax return may want to consider retroactive retirement plan adoption to offset their 2020 tax liability. For those who have already filed, keep this planning technique in mind for future years.
Consider these key state tax issues now that state and local governments are revisiting taxpayer compliance with nexus rules, considering new taxes on digital services, and evaluating the extent to which they are willing to conform to federal tax rules and legislation.
Using Privacy by Design (PbD) principles, nonprofits can ensure services and business processes are designed to protect privacy from the beginning rather than applied as an afterthought.
Utilizing Employee Stock Ownership Plans or ESOPs in construction companies that thrive on reputation, legacy and employee morale can be a beneficial recruiting and succession planning strategy.
We have a great opportunity for an experienced audit staff or senior to join our award-winning workplace.
Companies considering a nonqualified deferred compensation or NQDC plan as a recruiting and retention tool should understand the unique compliance requirements and other complexities of these plans.