• Upcoming pension changes

    Discover the components of the recent GASB 67 and 68 issuance and learn about the new changes taking effect for the accounting and reporting of pensions for both the pension plan and the local government employer.
  • Tip versus service charge

    Beginning January 1, 2014, the IRS is requiring employers to classify automatic gratuities as service charges. Service charges distributed to employees are treated as regular wages, subject to normal payroll tax withholding rules.
  • Important tax implications for petroleum and ethanol industries

    A recent IRS memorandum states that claiming section 6426(c) excise tax credits does not result in taxable gross income under section 61. As a result, many in the petroleum and ethanol industries may be eligible for federal income tax refunds for all open tax years in which they reported these credits.