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Timely information is critical for smart business decisions.  That’s why we make a priority of sharing the latest news on tax and financial reporting issues. Our alerts (sent by email and posted on our website) ensure clients are always up-to-date.

Federal Tax Alerts
alerts-federal

IRS Releases Taxpayer-Friendly Guidance for Examinations of Pharma R&D Credits - January 2013

In December 2012, the IRS Large Business & international (LB&I) division issued a memorandum providing guidance for IRS agents auditing Internal Revenue Code (IRC) Section 41 research credit claims for activities [...]

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alerts-federal

Electronic Filing of Partnership Schedules K1 - January 2013

With the year's first tax filing deadline now just a few months away, we thought this a good time to remind everyone of the rules that apply to the furnishing of Schedules K-1 in an electronic format. The IRS revised [...]

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International Tax Alerts
International Alert

How FATCA Will Affect Every Business Making Cross-Border Payments - May 2013

United States taxpayers should be aware that, beginning in 2014, cross-border payments are generally subject to additional reporting obligations under the Foreign Account Tax Compliance Act (“FATCA”). Whether it is a dividend or interest payment to a [...]

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International Alert

Expatriate Tax Update - April 2013

This newsletter brings together individual country updates over recent months. As you will appreciate, the wealth of changes across multiple jurisdictions is significant so to provide easily digestible information we have kept it to the key developments [...]

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State and Local Tax Alerts
State and Local Alert

Cook County, Illinois, Enacts Use Tax on Non-Titled Property - May 2013

Effective April 1, 2013, Cook County, Illinois, imposes a 1.25 percent use tax on the privilege of using non-titled personal property purchased outside the county for use within the county. Cook County has imposed a use tax [...]

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State and Local Alert

California: Franchise Tax Board Issuing Notices of Proposed Assessments to Taxpayers That Claimed a Qualified Small Business Stock Exclusion - April 2013

The State of California Franchise Tax Board (“FTB”) recently announced that it will begin sending Notices of Proposed Assessments (“NPAs”) in April 2013 to taxpayers [...]

 

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Financial Reporting Alerts
financial-reporting

Early Adoption of New Accounting Standards by Emerging Growth Companies - May 2013

The Jumpstart our Business Startups (JOBS) Act permits emerging growth companies to elect to defer adopting new or revised accounting standards until the time they are required to [...]

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financial-reporting

FASB Issues ASU on the Liquidation Basis of Accounting - May 2013

U.S. GAAP contains minimal guidance on when and how entities should apply the liquidation basis of accounting, resulting in diversity in practice. On April 22, 2013, the FASB issued ASU 2013-07 [...]

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Compensation and Benefits Alerts
alerts-federal-comp-benefit

Second Extension Granted to Government by the Supreme Court to File Certiorari Petition in “Quality Stores” - May 2013

The United States Supreme Court granted the government another extension from May 3 to May 31 to file a petition for certiorari in United States v. Quality Stores Inc., 693 F.3d 605 (6th Cir. 2012). The original deadline of [...]

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alerts-federal-comp-benefit

Supreme Court Grants Government Extension of Time to File Certiorari Petition in “Quality Stores” - April 2013

The United States Supreme Court granted the government a one-month extension to file a petition for certiorari in United States v. Quality Stores Inc., 693 F.3d 605 (6th Cir. 2012). The original deadline of April 4 is now extended [...]

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Nonprofit Alerts
Nonprofit Alert

The Red Flags Rule - What Does It Mean to Nonprofit Organizations? - January 2011

One of the largest growing areas of criminal activities in the past decade has been identity theft. Identity theft occurs when an individual uses other people’s personally identifying information to [...]

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Nonprofit Alert

Special Relief for Small Organizations Who Failed to File by May 17 - Action May be Required by October 15 - August 2010

The Pension Protection Act of 2006 mandated that organizations required to file Form 990 series [...]

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