Insights

IRS grants failure to file penalty relief for 2019 and 2020 returns

IRS grants failure to file penalty relief for 2019 and 2020 returns

IRS will automatically waive or abate failure to file penalties for some returns when filed by Sept. 30, 2022. IRS will also waive or not apply penalties for 2019 and 2020 information returns.
Estate planning and income tax: Key considerations and planning points

Estate planning and income tax: Key considerations and planning points

You have mapped out your estate plan and feel confident in its estate tax efficiency. However, it is important to consider the income tax ramifications of each decision throughout the planning process to avoid unintended consequences.
Multigenerational wealth planning: A guide to do’s and don’ts

Multigenerational wealth planning: A guide to do’s and don’ts

Estate succession planning guide for multigenerational wealth and prioritizing grantor intent
Auditing services for the growing private company

Auditing services for the growing private company

With big plans for the future, growing private companies need an auditor with the experience and insights to take the journey with them.
Tax issues that arise when a shareholder or partner dies

Tax issues that arise when a shareholder or partner dies

This article examines the various federal income tax issues, both from the individual and entity level, to be mindful when an owner of a passthrough entity dies.
Tax issues that arise when a shareholder or partner dies

Tax issues that arise when a shareholder or partner dies

This article examines the various federal income tax issues, both from the individual and entity level, to be mindful when an owner of a passthrough entity dies.
PCAOB amends requirements for audits involving other auditors

PCAOB amends requirements for audits involving other auditors

The PCAOB has recently released the amendments to its standards for audits where other accounting firms or individual auditors perform important work on the audit.
GASB revises requirements for compensated absences

GASB revises requirements for compensated absences

The Governmental Accounting Standards Board has released Statement No. 101, Compensated Absences, replacing GASB Statement No. 16, Accounting for Compensated Absences.
GASB revises requirements for accounting changes and error corrections

GASB revises requirements for accounting changes and error corrections

The Governmental Accounting Standards Board (GASB) has released Statement No. 100, Accounting Changes and Error Corrections (Statement 100), which amends GASB Statement No 62.
IRS 90-day pre-examination compliance pilot for retirement plans

IRS 90-day pre-examination compliance pilot for retirement plans

The IRS is piloting a pre-examination compliance program for retirement plans, which provides plan sponsors with 90-day window to review plan operations and make corrections prior to examination.
IRS increases mileage rates for the remainder of 2022

IRS increases mileage rates for the remainder of 2022

The IRS provides some relief amid rising gas prices with an optional increase to the standard mileage rate for business travel.
Reminder – S corporation shareholder basis reporting requirements must not go overlooked

Reminder – S corporation shareholder basis reporting requirements must not go overlooked

How will the new Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations, impact tax filings for family offices and other taxpayers?
Income tax, Charitable, and Estate Planning for Digital Assets

Income tax, Charitable, and Estate Planning for Digital Assets

Considering the income tax, charity and estate planning implications of digital assets, such as crypto, can minimize tax burden, comply with evolving regulations and pursue personal wealth goals.
Top 5 fintech trends to watch -now, and in the future

Top 5 fintech trends to watch -now, and in the future

The fintech movement is driving a rapid evolution within financial services, resulting in a new infrastructure and platform for the industry's next generation.
Supreme Court sweeps away a long-standing rule in tax collection due process practice

Supreme Court sweeps away a long-standing rule in tax collection due process practice

U.S. Supreme Court decision changes long-standing rule in tax collection due process cases to benefit taxpayers.