ThomsonReuters

APRIL 7, 2022

QUESTION: Our company’s qualified transportation plan allows employees to purchase transit passes with pre-tax compensation. ANSWER: The Code provision authorizing qualified transportation plans indicates that the tax benefits under a qualified transportation plan are for “employees.” Contributing Editors: EBIA Staff.

98

98

ThomsonReuters

JANUARY 28, 2022

Tax season is a critically busy time of the year for accountants, and we all know the stress that can come with such a high demand for services during that part of the year. But for some tax and accounting firms, the high volume of clients from January to April represents the majority of their business for the year.

Accounting Firms 102

Accounting Firms Start-ups Finance Marketability 102

ThomsonReuters

MARCH 9, 2023

Initially, the stop-loss insurer had covered the excessive claims, but in later years it refused, asserting that the drugs were not covered under the terms of the plan. Thus, so long as approving a benefit was not an abuse of discretion, the benefit was paid according to the plan’s terms and should be covered by the policy.

Compliance 52

Compliance 52

ThomsonReuters

DECEMBER 6, 2023

James Creech, a senior manager with Baker Tilly’s tax advocacy and controversy team, explained that the origin of the current issues with the ERC can be traced back to before the health emergency and the absence of tax preparer oversight. “Tax preparation is kind of the Wild West,” Creech began.

Start-ups 105

Start-ups 105

ThomsonReuters

JULY 6, 2023

This trend is picking up pace as traditional accounting firms seek more strategic and meaningful work that goes beyond just tax returns. In fact, a Thomson Reuters Institute survey found that 95 percent of tax professionals believe their clients want business advisory services. Or requesting counsel on recent tax-related legislation?

Accounting Firms 98

Accounting Firms Compliance Start-ups Marketability 98

ThomsonReuters

JULY 10, 2023

Jump to: What is sales tax? What is use tax? Sales tax vs. use tax Summary Calculating, collecting, and reporting sales tax and use tax can get complicated as a business grows, and it can be easy to confuse these two types of indirect taxes. What is sales tax?

Compliance 97

Compliance 97

ThomsonReuters

OCTOBER 10, 2023

Goods imported into an FTZ can be stored, manipulated, or manufactured without being subject to import duties or taxes until they enter the commerce of the U.S. Tax savings : Businesses may be able to benefit from tax advantages by operating in a bonded warehouse, as taxes are not levied until goods are withdrawn for local consumption.

Compliance 52

Compliance Marketability 52

IVSC

FEBRUARY 19, 2023

The SRB is responsible for overseeing the work of all the IVSC’s technical boards and is widely regarded as a leading authority on the development and promulgation of International Valuation Standards (IVS), which are used in more than 100 countries.

Finance 130

Finance Marketability Business Valuation 130

ThomsonReuters

NOVEMBER 4, 2020

These days, the number one concern of corporate tax departments is clear: keeping up with changing regulations. This framework aims to put an end to tax avoidance strategies and mismatches in tax rules to ensure multinational enterprises pay their fair share of tax. Why technology is critical for DAC6 compliance.

Technology 52

Technology Compliance Start-ups 52

ThomsonReuters

AUGUST 24, 2023

Jump to: What is tax depreciation? How to calculate tax depreciation What are the tax depreciation methods? But depreciation can quickly become complex and cumbersome as tax professionals navigate which asset s can be depreciated for tax purposes, how to calculate tax depreciation, and any state-level nuances that may arise.

Start-ups 87

Start-ups Marketability 87

ThomsonReuters

NOVEMBER 12, 2020

This case considered whether a benefits committee had properly delegated discretionary authority to a service representative to make an adverse benefit determination for accidental death benefits, so that the court could apply a deferential standard of review.

Compliance 52

Compliance 52

ThomsonReuters

MAY 27, 2021

In a dispute about life insurance benefits under an employer-sponsored ERISA plan, the Second Circuit has upheld a trial court’s use of the deferential arbitrary and capricious standard of review, ruling that the plan adequately delegated discretionary authority to the plan’s insurer. The wife’s other arguments were similarly unsuccessful.

Compliance 52

Compliance 52

Peak Business Valuation

MARCH 27, 2024

Tax compliance is another essential part of this equation. SBA loan approval could depend on your alignment with tax regulations. At the same time, you can develop a greater understanding of the tax implications of your assets. Greater understanding can help you avoid potential penalties or disputes with tax authorities.

Appraisal 52

Appraisal Finance Business Valuation Compliance 52

ThomsonReuters

DECEMBER 17, 2021

In 2022, tax authorities around the world hope to finalize the myriad details that will shape a Global Minimum Tax on multinational corporations — if they can reach consensus and make it happen. Reuters noted that this is “an extremely tight timeframe given that previous international tax deals took years to implement.”.

Treasury 52

Treasury Technology Compliance 52

Peak Business Valuation

MARCH 21, 2024

In some cases, it can increase your chances of securing favorable financing terms. Electrical Equipment Appraisals for Tax Reporting Lastly, electrical equipment appraisals are crucial for accurate tax reporting. They provide you with the necessary documentation to follow tax regulations.

Appraisal 52

Appraisal Business Valuation Fair Market Value Marketability 52

Reynolds Holding

APRIL 16, 2024

Those rules have been formally challenged in federal court for exceeding the SEC’s authority and are currently under review in the 5 th Circuit. Law firms representing sponsors, for example, may have self-serving incentives to seek aggressive pro-sponsor terms and avoid standardization (de Fontenay & Nili 2023).

Equity 59

Equity Start-ups Marketability 59

Benzinga

APRIL 4, 2024

Please follow the instructions on the proxy card contained in the Proxy Materials and authorize a proxy to vote your shares via the Internet, by telephone or by signing, dating and returning the proxy card. There can be no assurances with respect to the amount of each CEF Tax Dividend.

Dividends 40

Dividends Marketability 40

ThomsonReuters

APRIL 7, 2022

On appeal, the Ninth Circuit concluded that the trial court had misapplied the deferential standard of review (afforded to administrators with discretionary authority to interpret the plan’s terms) by substituting its own interpretation of the plans for the insurer’s instead of reviewing the insurer’s decisions for an abuse of discretion.

Compliance 97

Compliance 97

Peak Business Valuation

FEBRUARY 13, 2024

Even though worthwhile long-term investments, these activities can be expensive. Landscaping Equipment Appraisals for Tax Reporting Finally, prepare for tax season with an equipment appraisal. Tax reporting may require a certified equipment appraisal. We offer an efficient and straightforward process.

Appraisal 52

Appraisal Business Valuation Fair Market Value Liquidation Value 52

Appraiser Newsroom

JULY 9, 2023

She has over 25 years of experience in valuation, financial reporting and tax, conducting numerous business and asset valuations for a variety of purposes including purchase price allocations, goodwill and asset impairments, mergers & acquisitions, tax restructuring, debt analysis, and gift and estate tax planning.

Intangible Assets 40

Intangible Assets Business Valuation Appraisal Finance 40

ThomsonReuters

MAY 11, 2023

ANSWER: During the COVID-19 public health emergency (PHE), which ended May 11, 2023, group health plans were required to cover COVID-19 testing with no cost-sharing, prior authorization, or other medical management restrictions. appeared first on Tax & Accounting Blog Posts by Thomson Reuters. Contributing Editors: EBIA Staff.

Compliance 98

Compliance 98

ThomsonReuters

MAY 5, 2022

Each year, tax time is an opportunity to expand your accounting firm’s client base. That is a question firms should consider as they reflect on the tax season. Leading up to tax time, there are potential clients ranging from individuals to major corporations who may be on the hunt for a new tax preparer.

Accounting Firms 96

Accounting Firms Start-ups Technology Marketability 96

Reynolds Holding

FEBRUARY 11, 2024

And, at the labels’ behest, Spotify was forced to develop a subscription offering (rather than offer only a free, ad-supported service), agree to a 55 percent revenue share (backed by large up-front “minimum guarantee” payments), and grant equity in the company on terms highly favorable to the labels. What product is being approved?

Marketability 59

Marketability Equity Technology Finance 59

ThomsonReuters

OCTOBER 14, 2021

Could we help them repay those loans on a tax-advantaged basis using a qualified educational assistance program? If you have a program, you will need to amend it to add student loan repayment benefits unless the program already authorizes any type of educational assistance within the meaning of Code § 127. Notification.

59

59

ThomsonReuters

MARCH 22, 2022

Psychologist and author Rollo May observed, “Communication leads to community, that is, to understanding, intimacy, and mutual valuing.”. Why transparent client communication is important for tax and accounting firms. For example, suppose a client is going to have a significantly smaller tax obligation than anticipated.

Accounting Firms 98

Accounting Firms Start-ups Technology 98

ThomsonReuters

JANUARY 12, 2023

The primary role of an accountant is to handle a variety of tasks including tax preparation, financial planning and audits. . The IRS also performs audits to verify the accuracy of a taxpayer’s tax return and specific transactions. This includes preparing, filing, and submitting documents, and providing advice on federal tax matters.

Technology 59

Technology Compliance Start-ups Accounting Firms 59

ThomsonReuters

DECEMBER 9, 2021

Highlighting these procedural problems, the court determined that the claims administrator failed to provide “an explanation of the scientific or clinical judgment for the determination, applying the terms of the plan to the claimant’s medical circumstances” as required by the claims procedure regulations. Contributing Editors: EBIA Staff.

Compliance 52

Compliance 52

ThomsonReuters

MAY 25, 2023

Long-term residential treatment had been recommended by the child’s physicians following several years of progressive treatment for anxiety, attention deficit disorder, and depression; multiple episodes of self-harm and attempted suicide; and repeated emergency room visits and hospitalizations. 2023) Available at [link] 010110859668.pdf

Compliance 52

Compliance 52

ThomsonReuters

JUNE 1, 2023

Self-correction is not currently available for (1) failures to initially adopt a written plan; (2) significant failures in terminated plans; and (3) corrections of operational failures by a plan amendment that result in less favorable treatment for a participant than the original terms of the plan. Contributing Editors: EBIA Staff.

Compliance 97

Compliance 97

ThomsonReuters

DECEMBER 1, 2021

Corporate indirect tax professionals have been told for years that they can garner more influence and respect within their organizations by transitioning the indirect tax function from a purely compliance-oriented activity to a strategic advisory role. Investment in appropriate tax technologies and training.

Compliance 52

Compliance Start-ups Technology Data Analysis 52

ThomsonReuters

JUNE 16, 2022

An entity may be a functional fiduciary to the extent it exercises discretionary authority or control over plan management, or any authority or control over management or disposition of plan assets. The court next considered whether the TPA had authority or control over plan assets. c (“Obligations of Service Provider”).

Compliance 52

Compliance 52

ThomsonReuters

DECEMBER 15, 2020

That is the key takeaway from a recent Thomson Reuters Tax & Tech Talks podcast episode that featured OTP specialists from KPMG. Corporate finance systems often are not designed to accommodate tax requirements and are ill-suited for managing OTP, Tolley said. “Those three challenges are driving. Finance Systems & Data.

Finance 52

Finance Corporate Finance Start-ups Technology 52

ThomsonReuters

JULY 15, 2021

An employee and child—both covered under a self-insured group health plan—sued the plan’s claims administrators for denying coverage for the child’s long-term residential mental health treatment. However, near the end of the 90 days, the plan informed the employee that it would deny coverage going forward. Contributing Editors: EBIA Staff.

Compliance 52

Compliance 52

Appraiser Newsroom

FEBRUARY 16, 2022

Below is a closer look at these contributing authors. Allen is also active in the profession as an author, lecturer , and volunteer, most recently serving as President of the N evada Society of CPA s Las Vegas Chapter. She is also a frequent speaker, author and professor. . Jenn ifer A.

Intangible Assets 52

Intangible Assets Business Valuation Appraisal Corporate Finance 52

ThomsonReuters

OCTOBER 12, 2023

For accountants, understanding how to navigate foreign asset reporting is essential, as the IRS requires taxpayers to report certain foreign assets to ensure compliance and combat tax evasion. It is filed with their annual federal income tax return if they meet certain criteria. What foreign assets should be reported to the IRS?

Compliance 40

Compliance Banking Dividends Technology 40

ThomsonReuters

JANUARY 7, 2021

The requirements apply to most insured and self-insured group health plans, and to insurers, but grandfathered health plans, excepted benefits, and short-term limited-duration insurance are exempt. appeared first on Tax & Accounting Blog Posts by Thomson Reuters. But “grandmothered” health plans are required to comply.

98

98

ThomsonReuters

OCTOBER 7, 2021

These laws address the terms and conditions of employment—including any requirement that workforce members be vaccinated and provide documentation of their vaccination status—and impose confidentiality and other obligations on employers. Contributing Editors: EBIA Staff.

52

52