Gross Mendelsohn

NOVEMBER 22, 2023

With employee benefit plan audit season not too far in the rearview mirror, it’s a good time to reflect on lessons learned. I’m sharing a few insights, from the point of view of an employee benefit plan auditor, for clients who are required to have their plan audited.

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Machen McChesney

DECEMBER 14, 2023

As 2023 draws to a close, employers should review whether they have properly included the value of common fringe benefits in their employees’ and (if applicable) 2% S corporation shareholders’ taxable wages. This is especially true for 2023 and beyond, as many employers continue to deal with remote or hybrid workforces.

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Harvard Corporate Governance

DECEMBER 23, 2023

At least based on the circumstances before it, the court answered that question in the negative, indicating that only stockholders who are third-party beneficiaries of the agreement, not the corporation, would be entitled to such damages.

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Redpath

OCTOBER 13, 2023

Outsourcing some or all of this work can bring many benefits to firms of any size. Accounting and finance are essential functions for business success.

Finance 98

Finance 98

LaPorte

APRIL 12, 2023

Employee interest in health savings accounts (HSAs) has increased so employers should understand the benefits of offering them to employees. The post Health savings account benefits for employees and employers first appeared on LaPorte.

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Harvard Corporate Governance

DECEMBER 13, 2023

In Delaware, the standard of conduct requires that, in making a business decision, directors act for the purpose of promoting the value of the corporation for the benefit of the stockholders in the long term and for no other purpose. But as all competent Delaware lawyers know, and as numerous scholars have pointed out, this is clearly wrong.

Corporate Finance 204

Corporate Finance Finance 204

ThomsonReuters

JULY 14, 2022

QUESTION: We are considering offering a stand-alone telehealth benefit to our employees. ANSWER: Telehealth benefits (also referred to as telemedicine benefits) are often offered under an employer’s group health plan, which is governed by ERISA if sponsored by a private sector employer. Providing ERISA-listed benefits.

Compliance 98

Compliance 98

Mckinsey and Company

SEPTEMBER 1, 2023

After bringing agile operating models to customer-facing, frontline business units, financial institutions are also seeing the benefits of agile for risk and compliance functions.

Compliance 97

Compliance Banking 97

Chris Curtain

JULY 14, 2022

The post Here are the Top 7 Benefits of Getting a Business Valuation appeared first on Business Appraisal FL | GA. Know the Economic Value of Your Largest Asset A business appraisal or business valuation conveys the current economic value of a business by accounting for its team, assets, intellectual properties, earnings, growth, and losses.

Business Valuation 130

Business Valuation Appraisal 130

LaPorte

FEBRUARY 22, 2024

For years, employee benefit plans (EBPs) have been under a regulatory microscope. Recently, the Department of Labor (DOL) issued a report, Audit Quality Study, November… The post The Importance of Choosing a Quality Auditor for Employee Benefit Plans first appeared on LaPorte.

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ThomsonReuters

NOVEMBER 18, 2021

QUESTION: What is an excepted benefit HRA (EBHRA)? ANSWER: EBHRAs are limited-dollar HRAs that qualify as excepted benefits and thus are not subject to the PHSA mandates. EBHRAs are subject to the following requirements: Limited-Dollar Benefits. The post What Is an Excepted Benefit HRA (EBHRA)? Reimbursements.

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Machen McChesney

AUGUST 2, 2023

Does your organization offer health care and retirement benefits for its employees? Benefit plans with 100 or more participants are generally required to have their annual reports audited under the Employee Retirement Income Security Act of 1974 (ERISA).

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Gross Mendelsohn

FEBRUARY 14, 2024

Economic damages claimed by individuals in cases arising from personal injury, wrongful death, wrongful employment termination and employment discrimination typically include lost earnings and fringe benefits. Let’s look at the role of a CPA as an expert in these cases.

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ThomsonReuters

JANUARY 24, 2022

The question arises whether a worker who refuses an employer’s vaccine mandate is eligible to collect unemployment benefits, and if so, are employer unemployment accounts impacted by those claims. Losing a job because of a failure to become vaccinated will not immediately disqualify an individual from benefits in Arizona.

Compliance 119

Compliance 119

ThomsonReuters

JUNE 29, 2022

Now, let’s go over the answer for the a previous edition of the CPP Corner on employment taxes and share this blog’s quiz question on fringe benefits. On May 11 and 12, at the APA’s Congress, there were two hour-long workshops on taxable and nontaxable fringe benefits, conducted by Fred Basehore, Jr.,

Start-ups 89

Start-ups Compliance 89

Meade & Moore

JANUARY 5, 2024

The Office of the Chief Accountant (OCA), Employee Benefits Security Administration (EBSA), U.S. This assessment focuses on IQPAs’ financial statement audits of employee benefit plans covered under the Employee Retirement Income Security Act (ERISA) for the 2020 filing year (plan years beginning in 2020).

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ThomsonReuters

JUNE 30, 2022

This may raise a variety of issues for employee benefit plan sponsors. Furthermore, employers will have to consider whether to provide such benefits on a tax-favored basis (which limits the type and amount of expenses that may be covered) and whether to use an existing plan or establish a separate arrangement.

Compliance 98

Compliance 98

ThomsonReuters

DECEMBER 8, 2022

QUESTION: Everyone in the employee benefits field uses acronyms like CDHC, EAP, and VEBA. What do these and other employee benefit acronyms stand for? COB – Coordination of Benefits. EBHRA – Excepted Benefit HRA. EBSA – Employee Benefits Security Administration. POP – Premium-Only Plan.

Compliance 105

Compliance 105

ThomsonReuters

FEBRUARY 2, 2023

QUESTION: Our company has a qualified transportation fringe benefit plan under Code § 132(f) that allows participants to pay for parking, transit passes, and vanpooling on a tax-free basis. Form 5500 (Annual Return/Report of Employee Benefit Plan) is used to satisfy certain annual reporting obligations that arise under ERISA or the Code.

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ThomsonReuters

DECEMBER 22, 2022

QUESTION: Everybody in the employee benefits field uses acronyms like ALE, MLR, and ACA. What do these and other employee benefits acronyms stand for? The post What Do All Those Employee Benefits Acronyms Stand For? ANSWER: Here’s an explanatory list of common acronyms primarily used in our Health Care Reform manual.

Compliance 98

Compliance 98

Henry Horne

JUNE 30, 2022

The post Benefits of having an IRS online account appeared first on Henry+Horne. To access your information online, you will need to register through ID.me which is a trusted technology provider, to provide identity verification and sign-in services that the IRS uses. The IRS … Keep Reading.

Technology 98

Technology 98

ThomsonReuters

MAY 26, 2022

He argued that his employer violated ERISA § 510, which makes it unlawful to discharge, fine, suspend, expel, discipline, or discriminate against a participant for exercising a right to which he is entitled under an employee benefit plan, or to interfere with attainment of any right to which a participant may become entitled under the plan.

Compliance 96

Compliance 96

ThomsonReuters

DECEMBER 15, 2022

QUESTION: Everybody in the employee benefits field uses acronyms like ADA, MSP, and PHI. What do these and other employee benefits acronyms stand for? The post What Do All Those Employee Benefits Acronyms Stand For? ADA – Americans with Disabilities Act. ADEA – Age Discrimination in Employment Act.

Compliance 98

Compliance Equity Technology 98

ThomsonReuters

OCTOBER 14, 2021

The court explained that ERISA authorizes only plan participants and beneficiaries to sue for benefits. The participant had executed an assignment of benefits and a designation of authorized representative, each of which purportedly authorized the provider to bring a lawsuit on the participant’s behalf with respect to the services provided.

Compliance 98

Compliance 98

Meade & Moore

SEPTEMBER 28, 2022

Recently, the Department of Labor’s Employee Benefits Security Administration (‘EBSA”) released cyber security best practices and security tips on their website ( [link] ).

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Vested

JULY 14, 2023

Though some business leaders are vocal about their dislike for remote working (looking at you Elon Musk ) studies show that working from home actually has a variety of benefits to offer.

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Mckinsey and Company

FEBRUARY 26, 2024

Integrating AI into Canadian healthcare could help simplify administrative work; improve system management, care quality, and patient and staff experience; and boost affordability via lower spending.

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ThomsonReuters

APRIL 27, 2023

Final Rule: PPACA, HHS Notice of Benefit and Payment Parameters for 2024, 45 CFR Parts 153, 155 and 156, 88 Fed. 27, 2023); Fact Sheet: HHS Notice of Benefit and Payment Parameters for 2024 Final Rule (Apr. HHS has already issued the limits for the 2024 benefit year (see our Checkpoint article ). 25740 (Apr.

Marketability 52

Marketability 52

Redpath

MARCH 5, 2024

Several types of trusts can help you manage your assets in a way that supports your estate planning goals while providing potentially significant tax advantages. One of them is a GRIT–grantor retained income trust. Is this an option you should consider?

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Law 360 M&A

JANUARY 9, 2024

A New Jersey bankruptcy judge on Tuesday gave drugstore chain Rite Aid the go-ahead to accept a $575 million bid for its Elixir prescription benefits program after hearing the company had received no other offers.

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ThomsonReuters

MARCH 20, 2024

Let’s take a look at the transformative benefits of single audit automation. The post Audit automation: Exploring the benefits of Checkpoint Engage Single Audit appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

Compliance 52

Compliance Accounting Firms 52

Harvard Corporate Governance

MAY 10, 2022

Regrettably, rather than evolving to keep pace with technological developments, corporate governance practices often involve an admixture of obsolete past approaches and ad hoc new ones, a combination that underutilizes the potential benefits of technology and increases its potential risks.

Technology 188

Technology 188

Mckinsey and Company

OCTOBER 4, 2022

Who will crack the code and create an integrated experience in the employer-sponsored benefits ecosystem?

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ThomsonReuters

NOVEMBER 8, 2022

Who needs to know : Benefit and payroll professionals, human resources departments, tax departments, CPAs. These annual COLA adjustments include many different benefit amounts that must be updated accurately for the next calendar year. The post What’s Hot on Checkpoint for Payroll and Benefits Professionals?

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ThomsonReuters

DECEMBER 22, 2022

Proposed Rule: PPACA, HHS Notice of Benefit and Payment Parameters for 2024, 45 CFR Parts 153, 155 and 156, 87 Fed. 21, 2022); Premium Adjustment Percentage, Maximum Annual Limitation on Cost Sharing, Reduced Maximum Annual Limitation on Cost Sharing, and Required Contribution Percentage for the 2024 Benefit Year (Dec. 78206 (Dec.

Marketability 52

Marketability 52

Henry Horne

NOVEMBER 11, 2022

Retirees will see an historic increase in Social Security and Supplemental Security Income (SSI) benefits in January when the annual cost of living adjustment kicks in. Don’t miss: PTET and potential administrative headaches In 2023, benefits will jump 8.7% with an average increase of more than $140 per month.

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ThomsonReuters

JANUARY 30, 2023

In today ’ s business environment, the deliverables are no doubt important; however, it ’ s the input, or the streamlining of data collection, that can be the true game-changing benefit for firms. “ When we think about these pressures, oftentimes … our minds immediately go to the output rather than the input.

Start-ups 59

Start-ups Compliance Accounting Firms Technology 59