Too often, we find participant loans that were never set up in payroll or where payroll withholding of repayments ceased prematurely, resulting in defaulted participant loans. For calendar year-end plans, plan sponsors have until March 31 of the following year to correct the failed set up of a participant loan.
The Internal Revenue Service (IRS) issued significant final regulations requiring most businesses to begin electronically filing certain kinds of business income tax and informational returns starting in 2024 for any returns first due after January 1, 2024.
Ransomware is a significant threat for business owners of any size, and the damages can be catastrophic. This video will explain what ransomware is and provide seven tips on protecting you and your company.
Small to medium-size nonprofits have several responsibilities to maintain their tax-exempt status and may be unaware of some of the activities that can jeopardize it. The IRS has recently released many resources to help.
The Internal Revenue Service recently issued guidance clarifying the federal taxability of special one-time tax rebates and refunds issued by 21 states in 2022, including South Carolina and Virginia.
For businesses contemplating a commercial project, the §179D deduction, a provision from the Inflation Reduction Act, is now available for any qualifying commercial energy-efficient building.
Federal compliance requirements like single audits require nonprofits to have financial statement services performed.
The SECURE 2.0 Act of 2022 includes over 90 provisions that have implications for retirement plans. Here are some of the changes that will be more impactful to retirement plans and plan sponsors.
In a previous article, we outlined the background, benefits, and challenges of PTE tax (PTET) regimes. In this article, we address core considerations and planning opportunities.
Designed to eliminate the adverse impacts of the SALT cap, the Pass-Through Entity Tax (PTET) is an optional state income tax that taxpayers may elect to use. However, before deciding whether a PTET election is the right move, there are a variety of issues to consider.
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