Legislation in Virginia Requires Pro Forma Combined Reports Due July 1st
Virginia’s General Assembly has considered legislation for mandatory unitary combined reporting for corporate income tax purposes…
Benefits of a Retirement Committee
As plan auditors, we review the governance structure of any plan as part of our procedures…
When Does My Retirement Plan Need an Audit?
Being proactive about getting your plan ready for an audit can save you a lot of…
Why Does Your 401(K) Auditor Ask For a SOC-1?
If you are the contact for your company’s 401(k) plan audit, you have probably received requests…
Government Contractors Impacted by Maryland’s New Sales Tax on Digital Products
Maryland’s sales and use tax was recently expanded to include the taxation of “digital products.” Despite…
Cryptocurrency’s Potential Effect on Real-World Financial Transactions
In the last few months, cryptocurrency, particularly Bitcoin, has been at the forefront of discussion in…
FASB Issues Alternative for Goodwill Impairment Test
The FASB issued ASU No. 2021-03 Intangibles—Goodwill and Other (Topic 350), Accounting Alternative for Evaluating Triggering…
Importance of Communication and Clarity with your Nonprofit Board
Nonprofit boards are generally involved in important decisions concerning the direction of the nonprofit organization and…
FFATA Reporting Requirements
FFATA (Federal Funding Accountability and Transparency Act) reporting is required by all prime awardees that enter…
IRS Confirms 2020 IRA and HSA Contribution Deadlines Extended to May 17, 2021
On March 17, 2021, the IRS extended the filing due date for individual tax returns to…