- If your government has programs that are considered tax abatements under GASB Statement No. 77, certain financial statement disclosures are now required.
- Registered investment advisor (RIA) relies on Baker Tilly for management company audit and the tax work for several investment funds, the management company, related entities, and general partners.
- Designed with the state and local government board member in mind, this high-level podcast can help you identify fraud within your government and explores various methods for carrying out a fraud risk assessment.
- On July 9, 2015, the Internal Revenue Service (IRS) issued Notice 2015-49, Use of Lump Sum Payments to Replace Lifetime Income Being Received By Retirees Under Defined Benefit Pension Plans, amending the required minimum distribution regulations under section 401(a)(9) of the Internal Revenue Code (IRC). The regulation, as amended, no longer permits qualified defined benefit plans to replace any joint and survivor, single life, or other annuity currently being paid with a lump sum payment or other accelerated form of distribution.
- On July 9, 2015, the FASB approved its April 2015 proposal to defer the effective date of ASU No. 2014-09, Revenue from Contracts with Customers, for all entities for one year. Entities will, however, be allowed to apply the new standard as of the original effective dates set out in the standard. This article examines the revenue recognition standard and explains why the FASB granted an extension.
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