(authored by RSM US LLP) Notice 2023-62 provides an administrative transition period for Roth catch-up contributions to high-income individuals. […]
Read More… from IRS releases guidance on Roth catch-up contributions under SECURE 2.0
(authored by RSM US LLP) IRS grants disaster relief to hurricane victims in Florida. Affected taxpayers have until Feb. 15, 2024, to file returns and make payments. […]
Read More… from IRS extends tax filing deadline for Hurricane Idalia victims
(authored by RSM US LLP) Leveraging third parties can lead to significant efficiencies, but you must account for inherent risks that lie with your organization. […]
Read More… from 5 things to know about managing third-party relationship risks
(authored by RSM US LLP) RSM provides guidance on accounting for the Employee Retention Credit in an entity’s financial statements. […]
Read More… from Additional reminders about the Employee Retention Credit
(authored by RSM US LLP) There are many misconceptions about artificial intelligence. Here are five common myths to debunk about nonprofits and AI. […]
Read More… from Debunking 5 common myths about nonprofits and AI
(authored by RSM US LLP) See how the new required tax treatment of R&D costs under section 174 affects federal, state, and international taxes, as well as software development. […]
Read More… from FAQ: Capitalization and amortization of R&D costs under new section 174 rules
(authored by RSM US LLP) Employee interest in health savings accounts (HSAs) has increased so employers should understand the benefits of offering them to employees. […]
Read More… from Health savings account benefits for employees and employers
(authored by RSM US LLP) Back-office outsourcing in these top three areas can help tech companies scale faster. […]
Read More… from How back-office outsourcing helps tech companies scale faster
Individual Retirement Accounts (IRAs) described in section 408 are subject to the unrelated business income tax (UBIT) to the extent their gross unrelated business taxable income (UBTI) exceeds $1,000. IRA fiduciaries generally have the responsibility of filing Form 990-T, Exempt Organization Business Income Tax Return, but the tax liability belongs to the IRA. […]
Read More… from IRAs are subject to the unrelated business income tax
Making final payments to an employee’s beneficiary or estate when an employee passes away in-service can create tax complexities. […]
Read More… from Compensation considerations when an employee passes away
(authored by RSM US LLP) Recent FTC guidance and delayed TCJA provisions will likely impact a taxpayer’s ability to take an FTC going forward. Start analyzing the impact now. […]
(authored by RSM US LLP) SECURE 2.0 permits employers to make matching contributions to a retirement plan for employees burdened by student loan debt. […]
Read More… from SECURE 2.0’s new tool for helping employees with student loans
(authored by RSM US LLP) Nonprofits need to overcome the workforce shortage. Organizations must innovate because the labor market will remain tight for the foreseeable future. […]
Read More… from Nonprofits after the Great Resignation: Overcoming the workforce shortage
(authored by RSM US LLP) The AICPA recently released updated guidance to assist teams in implementing System and Organization Controls (SOC) 2 and 3 reports. […]
Read More… from AICPA – New Service Organization Controls (SOC) Guidance
(authored by RSM US LLP) SECURE 2.0 changes the rules for how long-term, part-time employees are treated for purposes of 401(k) and 403(b) retirement plans. […]
Read More… from Retirement plan changes for long-term, part-time employees
(authored by RSM US LLP) SECURE 2.0 changes the rules governing how and when certain retirement savers can withdraw money from their retirement accounts and IRAs. […]
Read More… from Required minimum distributions after SECURE 2.0
(authored by RSM US LLP) The NTA reports on the 10 most serious problems encountered by taxpayers and makes recommendations to alleviate these problems. […]
Read More… from National Taxpayer Advocate: light at end of the tunnel, long way to go
(authored by RSM US LLP) SECURE 2.0 Act significantly changes the tax rules governing qualified retirement plans and individual retirement accounts (IRAs). […]
Read More… from Key takeaways for employers under the SECURE 2.0 Act of 2022
(authored by RSM US LLP) IRS 2023 annual revenue procedures have limited changes affecting exempt organizations. […]
Read More… from 2023 annual revenue procedures updates for exempt organizations
(authored by RSM US LLP) Avoiding unintended income tax consequences in your estate plan […]
Read More… from Estate planning and income tax: Key considerations and planning points
(authored by RSM US LLP) Despite steady growth in demand for law services and lawyer billing rates in the first quarter of 2022, labor market challenges and inflationary pressures threaten profitability. […]
Read More… from Law Firms Are Feeling Pressure Despite Steady Growth In Demand And Rates
(authored by RSM US LLP) The IRS provides some relief amid rising gas prices with an optional increase to the standard mileage rate for business travel. […]
Read More… from IRS Increases Mileage Rates For The Remainder of 2022
(authored by RSM US LLP) Inflation continued to broaden out across the American economy in May, rising by 8.6% annually and underscoring the urgency among central bankers to restore price stability through an increase in the federal funds rate and a drawdown in its $8.9 trillion balance sheet. […]
Read More… from U.S. May CPI: Inflation Continues To Broaden Out On Higher Gas And Housing Costs
(authored by RSM US LLP) To stay nimble, nonprofit organizations should examine these five areas to enhance their ability to adapt to change. […]
(authored by RSM US LLP) AEC firms are coping with rising costs and extended project timelines by looking to digital solutions. […]
Read More… from Steady optimism belies labor challenges and expensive materials
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