Category: Insights

Reporting Capital on Schedule K-1
Two Proposed Methods for Reporting Tax Capital on Schedule K-1

IRS proposed two methods for partnerships to satisfy the tax capital reporting requirement for tax…

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Tax Control Flaws and How to Prevent Them
Income Tax Controls: Common Flaws & How to Prevent Them

Four common pitfalls in the design of income tax accounting controls, including missing controls, lack…

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Life Sciences
Massachusetts Tax Credit Available to Investors of Life Science Businesses

The Massachusetts Department of Revenue (DOR) issued guidance regarding the Angel Investor Tax Credit, which…

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Strategic Tax Advisory
Looking to Boost Liquidity? Consider Changing Your Accounting Method

As businesses across all industries look for ways to reduce costs and increase liquidity, unique…

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Internal Controls
Four Reasons to Strengthen Income Tax Accounting Internal Controls

It is important for businesses to understand risks within the company, and thus the need…

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Tax Regulations - FDII and GILTI
The Treasury Issues Final Regulations for FDII and GILTI Deduction

Treasury issued final regulations that provide guidance regarding the deduction for foreign-derived intangible income (FDII)…

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FFCRA Reporting
Employer Reporting for Qualified Sick and Family Leave Wages Paid Under FFCRA

Employers are required to report the amount of qualified sick leave wages and qualified family…

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Company Retirement Plans
Workforce Reductions and the Impacts to Company Retirement Plans

While furloughs and layoffs have a significant and immediate impact on a company’s operations, plan…

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ING Trusts for Tax Planning
Incomplete Non-Grantor (ING) Trusts for Effective Tax Planning

The incomplete non-grantor (ING) trust is a self-settled, asset protection trust that provides income tax…

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ASC 820 Fair Value Disclosures
Disclosure Requirements for Benefit Plan Assets & Liabilities (ASC 820)

The Financial Accounting Standards Board (FASB) has simplified certain disclosure requirements related to measuring the…

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