- Complex rules and compliance issues may overshadow the wealth preservation nature of individual retirement accounts (IRAs) and qualified retirement plans.
- A careful review of the passive activity credit carryforward schedule is necessary to understand if your passive activities may generate tax credit.
- Under IRS Rev. Ruls. 2015-9 and 2015-10 more transactions qualify as type D acquisitive asset reorganizations (under Sec. 368(a)(1)(D)), so may be more apt to accept various forms of reorganization transaction.
- The American Institute of Certified Public Accountants (AICPA) recently released an updated Service Organization Controls (SOC) 2 report audit guide with a number of enhancements that impact SOC 2 reports.
- Recent changes from the US Office of Management and Budget (OMB), entitled “Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards” (Uniform Guidance) will impact subrecipient monitoring. These changes will impact new federal awards and changes to funding increments with changed terms and conditions issued after Dec. 26, 2014. If your organization does not yet understand these changes, now is the time to act.
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