ThomsonReuters

JULY 8, 2021

QUESTION: I understand that to be eligible for the ARPA COBRA premium subsidy, an employee must have lost group health plan coverage due to an involuntary termination of employment or a reduction of hours. For this purpose, when is a termination of employment considered involuntary? ANSWER: The 100% COBRA premium subsidy created by the American Rescue Plan Act of 2021 (ARPA) (see our Checkpoint article ) is available when certain employees (and their families) lose health coverage due to the

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98

ThomsonReuters

JULY 8, 2021

Multinational enterprises (MNEs) began using centralized shared services centers three decades ago to standardize and improve efficiency in back-office functions such as finance & accounting, human resources, and IT. Today, finance is the corporate function most commonly managed this way — but longstanding obstacles have prevented the model from being extended to statutory reporting and tax compliance.

Technology 98

Technology Finance Compliance Corporate Finance 98

ThomsonReuters

JULY 8, 2021

Interim Final Rule With Comment Period: Requirements Related to Surprise Billing; Part I, 5 CFR Part 890, 26 CFR Part 54, 29 CFR Part 2590, 45 CFR Parts 144, 147, 149, and 156, 86 Fed Reg __ (July 13, 2021); DOL Model Notice: Your Rights and Protections Against Surprise Billing; CMS Fact Sheet: Requirements Related to Surprise Billing: Part I Interim Final Rule With Comment Period (July 1, 2021).

Compliance 98

Compliance 98

ThomsonReuters

JULY 8, 2021

Rapid regulatory change, evolving customer needs, and tight competition for talent is forcing tax and accounting firms to rethink their technology and software tools. . Is your tax and accounting firm keeping up with the rapid pace of change or falling behind? . 90% of accountants now feel there is a cultural shift in accountancy leaning toward technological adoption. .

Technology 52

Technology Accounting Firms Start-ups Marketability 52

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.

Marketability

ThomsonReuters

JULY 8, 2021

Although your firm’s tax compliance practice is healthy and well-established, you may have a desire to grow into a new, larger role for your clients. Taking on the role of trusted advisor to your clients and offering advisory services is the way of the future. . This is not some underwear gnome’s profit plan – this is based on facts. Industry experts predict that 78% of finance processes can be automated, leading to reduced revenue.

Compliance 52

Compliance Start-ups Accounting Firms Finance 52

ThomsonReuters

JULY 8, 2021

Are mundane, day-to-day tasks sapping your staff’s will to work? Do your employees find their work meaningful and fulfilling? If your staff is looking more exhausted than excited, give them the cutting-edge tools they’ve been begging for! . Long gone are the days of sitting around a conference table, cutting coupons for extensions and estimates, copying tax returns, collating, stapling, and putting them in the mail.

Compliance 52

Compliance Start-ups Technology Accounting Firms 52

ThomsonReuters

JULY 8, 2021

Issue Snapshot: Hardship Distributions From 401(k) Plans (June 23, 2021). Available at [link]. The IRS has updated its “Issue Snapshot” summarizing the requirements for hardship distributions from 401(k) plans. Issue Snapshots are documents created for use by IRS employees that analyze tax issues and provide links to additional resources, including Code sections and regulations, revenue rulings, and IRS webpages.

Compliance 52

Compliance 52