There are few things Americans dread more than April 15th. The weeks and days leading up to the date are filled with stress and anxiety. Then we breathe a collective sigh of relief when the deed is done. That is, of course, unless you become the focus of an audit.
In 2015, the Employee Benefits Security Administration reported that 39% of annual audits of plan financial statements contained major deficiencies to one or more applicable requirements. The rules for employee benefit plans audits are complex, which is why the importance of hiring experienced employee benefit plan auditors cannot be understated. (more…)
August 21, 2018
The Tax Cuts and Jobs Act (TCJA) liberalized the eligibility rules for using the cash method of accounting, making this method — which is simpler than the accrual method — available to more businesses. (more…)
August 22, 2017
It’s a safe bet that state tax authorities will let you know if you haven’t paid enough sales and use taxes, but what are the odds that you’ll be notified if you’ve paid too much? The chances are slim — so slim that many businesses use reverse audits to find over-payments so they can seek refunds. (more…)
June 27, 2017
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2017. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. (more…)