- Many tax-exempt organizations and employee benefit plans, such as pensions, IRAs and retirement plans, are attracted to hedge or private equity funds (Funds) as a method of realizing above-average returns on investments. Since related function or passive income is exempt from federal income tax, and many hedge or private equity investments are passive to the tax-exempt, most income generated from these entities can be generated free of federal and state income tax.
- The federal government expects banks to get a lot more serious about cybersecurity. For the first time in history, the US Treasury Secretary has criticized the nation’s safeguards to protect against cybersecurity attacks on our financial infrastructure. In response, the Federal Financial Institutions Examination Council (FFIEC) took three initial steps to increase awareness in the US banking system.
- Due to increased concerns about potential widespread violations of the federal securities laws by municipal issuers and underwriters the SEC has undertaken a new initiative to identify and clean up false certifications.
- Employers are now more than ever faced with additional obligations under the Affordable Care Act, this article provides an overview of how the final regulations affect employer groups by employee size.
- This article is the first in a series related to internal control assessment and your government. This is an introduction to the recent update of the COSO Internal Control Framework.
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