Category: Insights
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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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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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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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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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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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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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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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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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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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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