Are you ready for USDA’s new organic certification requirements?

(authored by RSM US LLP) To improve traceability and detect and protect organic integrity across the supply chain, the United States Department of Agriculture created the National Organic Program (NOP) Strengthening Organic Enforcement (SOE) rule, which will become effective on March 19, 2024. […]

Read More… from Are you ready for USDA’s new organic certification requirements?

IRAs are subject to the unrelated business income tax

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

U.S. May CPI: Inflation Continues To Broaden Out On Higher Gas And Housing Costs

(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