Statement on Auditing Standards No. 136 prescribes certain new performance requirements for an audit of financial statements of employee benefit plans subject to the Employee Retirement Income Security Act of 1974 (ERISA) and changes the form and content of the related auditor's report. Read more.
The Employee Retention Credit (ERC) incentivizes organizations to keep employees on the payroll during COVID-19, and with new rules, it’s possible to claim as much as $14,000 per employee in 2021.
Are you managing your endowment funds under the current rules? See how you match up to these common issues in the application of UPMIFA.
It’s time to re-evaluate what liquidity actually means and how well-crafted policies can improve an organization’s operations, finances, and be a tool for educating the public, the Board, and management.
The case explains the IRS’ view of the requirements to establish substantial rights for work performed under contract for the R&D credit.
The DoD has updated its DFARS rules from the existing clause to three new clauses to allow enforcement of CMMC for DoD contracts.
Funding received from state or local governments may have originated in the Cares Act and may only be pass-through funding. Thus, the entity may be subject to a single audit requirement. Here is a list of CARES Act- and COVID-19-related programs that could trigger a single audit.
Since the Tax Cuts and Jobs Act, the treatment of 1031 exchanges has been more complex, nuanced, and limited according to varying definitions of real property. Now with final regulations, real estate investors can make more informed decisions about which properties qualify.
What happens if any of your primary or contingent beneficiaries pass away before you? If your intent is to leave behind a legacy for that particular beneficiary’s heirs, adding the Per Stirpes designation may be advantageous.
IRS guidance on the 15% maximum on automatic contributions, 401(k) and 403(b) plan safe harbor requirements and plan loan offset rollovers. Source: RSM US LLP.