Sat.Nov 21, 2020 - Fri.Nov 27, 2020

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Will COVID-19 bring about an end to the executive pay status quo?

ThomsonReuters

In April, I published a post, The Coronavirus pandemic: Executive pay cuts a sign of the times , highlighting companies across multiple industries that were making downward adjustments to the compensation of their executives and board members to help stay afloat in response to the crisis. The burning question is how will companies approach executive pay after the crisis?

Equity 98
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IRS Releases Guidance on PPP Loans and Employee Retention Tax Credits

Cooley M&A

The Internal Revenue Service (IRS) has issued several items of new guidance relating to loans under the Paycheck Protection Program (PPP), including two new FAQs addressing the interaction of PPP loans and employee retention tax credits (ERTCs) in M&A transactions, a Revenue Ruling holding that expenses funded by PPP loans that are expected to be forgiven in a subsequent taxable year are not deductible, and a Revenue Procedure covering how to claim deductions if such a PPP loan subsequently

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Advising accounting clients through bankruptcy

ThomsonReuters

Due to the unfortunate circumstances revolving around COVID-19, firms are now dealing with the need to advise accounting clients through bankruptcy. There have been regulation changes around bankruptcy, and as small to medium size businesses face shutdowns and various other factors, indebtedness is a real issue that several businesses are facing. In this episode of Pulse of Practice “Let’s talk bankruptcy” Paul Miller, CPA from Business by Design , and I are joined by Steve Nickles, Law Professo

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Where Can Health FSA Participants Use Debit Cards to Pay for Medical Care Expenses?

ThomsonReuters

QUESTION: Our company is thinking about implementing a debit card program for participants in our health FSA. We understand that IRS guidance restricts use of these cards to certain merchants. Where can our health FSA participants use debit cards to pay for medical care expenses? ANSWER: You are correct that IRS guidance restricts the locations at which health FSA debit cards can be used.

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How to Leverage Intent Data for Better Outcomes

Speaker: Susan Spencer, Principal of Spencer Communications

Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.

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2020 Required Amendments List Includes “Difficulty of Care” Payments Amendment for Some Employers

ThomsonReuters

IRS Notice 2020-83 (Nov. 20, 2020). Available at [link]. The IRS has issued its 2020 Required Amendments List (RA List) for individually designed qualified retirement plans (including 401(k) plans) and 403(b) plans. RA Lists are issued annually to identify changes in the Code’s qualification requirements that may result in “disqualifying provisions” and require a remedial amendment (see our Checkpoint article ).

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Health Insurer Ordered to Reprocess 67,000 Claims, Follow Independent Claim Guidelines

ThomsonReuters

Wit v. United Behavioral Health, 2020 WL 6479273 (N.D. Cal. 2020). Available at [link]. Following last year’s ruling that an insurer breached its fiduciary duty to health plan participants by using overly restrictive claim guidelines in its administration of mental health and substance use disorder benefits (see our Checkpoint article ), a federal court has granted extensive relief to a class of plan participants.

More Trending

article thumbnail

Advising accounting clients through bankruptcy

ThomsonReuters

Due to the unfortunate circumstances revolving around COVID-19, firms are now dealing with the need to advise accounting clients through bankruptcy. There have been regulation changes around bankruptcy, and as small to medium size businesses face shutdowns and various other factors, indebtedness is a real issue that several businesses are facing. In this episode of Pulse of Practice “Let’s talk bankruptcy” Paul Miller, CPA from Business by Design , and I are joined by Steve Nickles, Law Professo

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Where Can Health FSA Participants Use Debit Cards to Pay for Medical Care Expenses?

ThomsonReuters

QUESTION: Our company is thinking about implementing a debit card program for participants in our health FSA. We understand that IRS guidance restricts use of these cards to certain merchants. Where can our health FSA participants use debit cards to pay for medical care expenses? ANSWER: You are correct that IRS guidance restricts the locations at which health FSA debit cards can be used.

52
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2020 Required Amendments List Includes “Difficulty of Care” Payments Amendment for Some Employers

ThomsonReuters

IRS Notice 2020-83 (Nov. 20, 2020). Available at [link]. The IRS has issued its 2020 Required Amendments List (RA List) for individually designed qualified retirement plans (including 401(k) plans) and 403(b) plans. RA Lists are issued annually to identify changes in the Code’s qualification requirements that may result in “disqualifying provisions” and require a remedial amendment (see our Checkpoint article ).

52
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Health Insurer Ordered to Reprocess 67,000 Claims, Follow Independent Claim Guidelines

ThomsonReuters

Wit v. United Behavioral Health, 2020 WL 6479273 (N.D. Cal. 2020). Available at [link]. Following last year’s ruling that an insurer breached its fiduciary duty to health plan participants by using overly restrictive claim guidelines in its administration of mental health and substance use disorder benefits (see our Checkpoint article ), a federal court has granted extensive relief to a class of plan participants.

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Statement of Cash Flows vs. Cash Flow Statement

Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker

The old adages that "cash is king" and "you can’t spend profits" still hold true today. But however well-known these sayings might be, it requires a change in mindset to properly implement a cash flow management system that predicts your business's runaway as accurately as possible. Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-l

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Miscommunication Between Employer and Insurer About Employee’s Medical Leave Causes Loss of Coverage—and a Lawsuit

ThomsonReuters

Schmidt v. Overland Xpress, LLC, 2020 WL 5760651 (S.D. Ohio 2020). Available at [link]. This case arose when an employee on a medical leave of absence was denied continued coverage under her company’s medical plan. While the company’s employee handbook limited eligibility for benefits to full-time employees working at least 28 hours per week, the plan provided that an employee was deemed actively employed if an absence from work was due to sickness or bodily injury.

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Will COVID-19 bring about an end to the executive pay status quo?

ThomsonReuters

In April, I published a post, The Coronavirus pandemic: Executive pay cuts a sign of the times , highlighting companies across multiple industries that were making downward adjustments to the compensation of their executives and board members to help stay afloat in response to the crisis. The burning question is how will companies approach executive pay after the crisis?

Equity 52
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Americas Antitrust Review 2021

Cooley M&A

Covid-19 has made 2020 into a year like no other with ‘stay at home’ orders and working from home the new normal. Nonetheless, the tech and pharma industries continued to attract immense antitrust scrutiny, with daily reports in the media and pressure from politicians to address what some perceive to be anticompetitive mergers by digital platforms and pharmaceutical companies, even while innovation in both sectors continues at breakneck speed.