- In a recent issue of Construction Fraud, Baker Tilly advisors outlined how to protect your organization from fraudulent behaviors. Download, “An Ounce of Prevention: A Guide for Combating Fraud in Construction,” to detect problems early.
- 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.
- Changes to the IRS offshore voluntary compliance programs expands reach as well as opportunities for nonwillful disclosure of offshore assets.
- Delaware businesses still have time to file delinquent unclaimed property reports and avoid harsher penalties.
- 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.
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