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Take Advantage of U.S. Manufacturing and Export Incentives
Posted May 11, 2012
We enjoyed our conversations with TEI members during the 62nd Midyear Conference. Many of you expressed interest in learning more about manufacturing and export incentives.
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Economic Optimism in Unexpected Places
Posted April 27, 2012
It's easy to be pessimistic about the economy and capital markets, especially since there is plenty of evidence, both hard and anecdotal, to support a negative view. However, after five years of decline, home prices may finally be ready to bottom out, and perhaps, begin to recover. That should also lead to improving fundamentals in the economy as a whole.
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Minnesota Court Narrows Nonprofit Sales Tax and Fundraising Exemption
Posted April 17, 2012
A recent Minnesota Tax Court decision is changing the way state auditors scrutinize fundraising activities and sales tax collection by nonprofits.
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First Quarter 2012 Market and Economic Outlook
Posted April 16, 2012
Global equity markets are off to one of their best starts in recent history. In our year-end 2011 report, we mentioned that equities were set up for a potentially strong year in 2012 if policymakers in Europe could get ahead of the credit crisis. Our support for this view was that U.S. corporate operating earnings were up 15 percent in 2011, and equities were flat for the year, thus making stock valuations more attractive.
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Will Congress Extend Retail Excise Tax for Trucks, Trailers, and Tractors?
Posted March 28, 2012
The retail excise tax on trucks, tractors, and trailers, as part of the federal excise tax (FET), is set to expire on March 31, 2012. Last week, the U.S. Senate passed the bill Moving Ahead for Progress in the 21st Century, which extends the current retail excise tax on trucks, trailers, and tractors, and extends tax-free sales to state and local governments, to October 1, 2015.
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New Mexico Provides Tax Relief for Construction Contractors
Posted March 27, 2012
The New Mexico state legislature recently passed a law that expands the gross receipts tax deduction for construction projects, and increases the types of construction services that are tax-free for contractors.
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Tax Planning With Uncertain Tax Rates
Posted March 20, 2012
As we look ahead to 2013, we again face uncertainty on income tax rates. The present six-tiered rates (ranging from 10-35 percent), and the favorable two-tiered capital gain and dividend rates (0-15 percent), all expire at the end of 2012.
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IRS Eases Energy Efficient Deduction Threshold
Posted March 16, 2012
For several years, the tax code has allowed a first-year deduction for energy efficient investments in new or rehabilitated commercial buildings. But on February 24, 2012, the IRS issued Notice 2012-22, which modifies the deductible percentages.
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It's Not All in The (Market) Timing
Posted March 12, 2012
It's long been a truism that timing the market is notoriously difficult. We believe the evidence is fully conclusive against investors who try to move in and out of the market over relatively short time periods. Unfortunately, this doesn't seem to stop most investors from trying.
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Dealing With Those IRS Notices
Posted March 9, 2012
It's becoming a less friendly world these days in terms of the volume of notices and assessments taxpayers are receiving from the IRS and state tax agencies.
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IRS Offers Guidance on Tax Credit for Hiring Veterans
Posted March 1, 2012
The IRS recently issued additional guidance for the Work Opportunity Tax Credit (WOTC), which was enhanced last year for employers who hire qualified veterans. The new guidelines extend the former 28-day deadline for submitting new veteran hires’ certification, and provide details on how tax-exempt
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Plan for High Income Surtaxes in 2013
Posted February 24, 2012
The 2010 health care legislation brings a tax increase into play in 2013 that includes a 3.8 percent tax on net investment income, and a 0.9 percent Medicare tax on earned income.
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Technology and Taxes: Four Strategies to Balance Your Cash Flow
Posted February 20, 2012
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Retirement Plan Disclosure Rules in Effect on July 1
Posted February 10, 2012
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IRS Issues New Regulations on Tangible Property
Posted February 10, 2012
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15 Years and Out: Section 42 - 15-Year Exit Strategies
Posted February 7, 2012
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Low-Income Housing Tax Credits: An Accounting and Tax Update
Posted February 7, 2012
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Two New Questions on Form 1099 Filing
Posted January 23, 2012
Earlier this month, we sent a message regarding the new Form 1099-K, the merchant card reporting form. We've noticed another change associated with 1099s. Each of the 2011 business income tax forms now contain two new questions.
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Survey: 70 Percent of Providers Unprepared for ICD-10 Implementation
Posted January 16, 2012
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New IRS Guidance on Issuing Form 1099s
Posted January 11, 2012
The 2011 tax year is officially the first year for the new Form 1099-K, the merchant card reporting form. Under this new requirement, Visa, American Express, PayPal, and similar third party settlement companies are to issue to each merchant, with a copy to the IRS, a report of the gross payments to
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Clifton Gunderson, LarsonAllen Complete Merger
Posted January 3, 2012
Clifton Gunderson announces the completion of our merger with LarsonAllen LLP to become a top 10 accounting firm in the U.S. We have come together to form a new kind of firm with deep industry experience, specialized services, and exceptional client service.
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Rumored Change in Gift Tax Exemption
Posted November 11, 2011
Rumors abound that the Joint Select Committee on Deficit Reduction in Washington is considering proposals to reduce the federal gift tax exemption from $5 million to $1 million, effective as early as Nov. 23, 2011.
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Dos and Don’ts of Beneficiary Designations
Posted October 27, 2011
Who are the named beneficiaries for your retirement accounts? How about your life insurance? When was the last time you checked to make sure that those designations still reflect your wishes and fit into your overall estate plan?
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Private Companies Need to Speak Up Now
Posted October 26, 2011
Clifton Gunderson is intensifying its efforts to urge the Financial Accounting Foundation (FAF) to establish an independent board to set standards to U.S. generally accepted accounting principles (U.S. GAAP) for private companies.
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Understanding 529 Plan Distributions
Posted October 21, 2011
Ever since your daughter was very young, you have invested in a state-operated 529 plan to help pay for her college education. Now she is ready to start using those funds. Do you know which educational expenses qualify for tax-free distribution from the plan, and which do not?
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Private Companies Need to Speak Up Now
Posted October 14, 2011
Clifton Gunderson is intensifying its efforts to urge the Financial Accounting Foundation (FAF) to establish an independent board to set standards to U.S. generally accepted accounting principles (U.S. GAAP) for private companies.
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Planning for the 3.8% Medicare Surtax
Posted October 7, 2011
It’s been more than a year since the Patient Protection and Affordable Care Act was passed. What seemed at the time to be very distant concerns are becoming more important every day. One such concern is the 3.8 percent Medicare surtax that will take effect Jan. 1, 2013.
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8 Steps to Help Elderly Relatives Make Long-Term Care Decisions
Posted September 30, 2011
The best time to begin helping an elderly parent or relative plan for long-term care and other end-of-life issues is when they're healthy and there is time to consider the options. Unfortunately, events can intervene and make an elder's need for assistance an emergency.
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Understanding Transfer Pricing Part I
Posted September 20, 2011
Transfer pricing is the number one global tax issue facing taxpayers operating across international and state borders. Because it is highly scrutinized by the Internal Revenue Service and foreign tax authorities, transfer pricing requires careful attention as you plan your international tax strategy.
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Risk Governance and the Ongoing Role of Internal Audit
Posted September 9, 2011
Risk is inherent in running any business — without risk, there is no reward. The last two years, however, have sharply intensified the focus of organizations on their risk profile and how they are managing their risks.
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Unrelated Business Income: How State-Funded Colleges and Universities Can Minimize Their Exposure to Unrelated Business Income Tax
Posted September 9, 2011
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Proposal Would Prevent Double-Taxing Digital Goods and Services
Posted September 2, 2011
States would be prohibited from imposing multiple or discriminatory sales or use taxes on purchases of digital goods or services under legislation introduced in both houses of Congress in May.
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Top 5 Tax Challenges and Strategies for Multinational Companies
Posted September 2, 2011
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Risk Governance and the Ongoing Role of Internal Audit
Posted September 1, 2011
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Employer HCR Timeline
Posted September 1, 2011
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Relief for Your High Anxiety Over Low Interest Rates
Posted August 24, 2011
Investors in the current marketplace are faced with a number of challenges brought on by historically low interest rates. Especially hard hit are retirees and near-retirees, who traditionally shift assets from a diversified portfolio to longer term, higher yield investments as they begin relying on their nest egg for income.
One major challenge right now is that the yields on traditional fixed income investments, such as money market funds, CDs and fixed annuities, are at near historic lows. Slightly riskier fixed income investments, such as taxable and municipal bonds and bond funds, also carry low yields and varying degrees of credit risk.
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House Introduces One-Year Repatriation Holiday
Posted August 22, 2011
Multinational corporations with more than $1 trillion in profits parked offshore may be in for a tax holiday. The Freedom to Invest Act of 2011 (H.R. 1834), introduced in the House of Representatives in May, would give corporations one year to repatriate cash at substantially lower tax rates.
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IRA Conversion Window is Still Open
Posted August 12, 2011
One of the incentives for high net worth individuals to convert a traditional IRA to a Roth IRA is no longer available. But others — including tax-free distributions from a Roth IRA — are still out there, leaving the window wide open for investors to make the conversion.
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Understanding How Governmental Incentives Help Win New Work
Posted August 10, 2011
Economic development incentives can add value and reduce the cost of any construction project. An understanding of how these incentives work, and how to secure the best public/private financing for a project, can be the key to winning work in a lean and competitive marketplace.
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High Anxiety Over Low Interest Rates?
Posted July 22, 2011
The annual inflation rate of 3.16 percent in April topped the best five-year CD rate of 2.4 percent, according to...Market Rates Insight. Inflation was 2.11 percent in February, surpassing the long-term CD rate of 2.10 percent for the first time since October 2008, Market Rates said.
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IRS Hikes Mileage Rates for Second Half of 2011
Posted July 1, 2011
Rising gasoline prices have prompted the Internal Revenue Service to take the unusual step of announcing a mid-year increase in the optional standard mileage rate.
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Update on Proposed Lease Accounting Changes
Posted June 16, 2011
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Wisconsin Tax Alert: New Hire Deduction Allowed Starting 2011
Posted June 1, 2011
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Tax Alert: Michigan Business Tax Repealed
Posted June 1, 2011
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Tax Alert: Michigan Grants Tax Amnesty
Posted June 1, 2011
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Manufacturing Outlook: Findings of a National Survey of the Manufacturing and Distribution Industries – 2011 and Beyond.
Posted May 20, 2011
At Clifton Gunderson, we are committed to listening and learning from companies in the industries we serve. Knowing what’s happening “out there” is a top priority throughout the firm.
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Temporary Opportunities For More Favorable Estate and Gift Taxes
Posted April 29, 2011
A two-year window opened with the passage of the Tax Relief Act of 2010. Thanks to the historic tax legislation, families and individuals of wealth may now have temporary but significant opportunities to reduce the bite of federal estate and gift taxes.
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Risks and Rewards of Alternative Investment for Not-For-Profits
Posted April 20, 2011
As traditional revenue sources dry up and competition for scarce resources heats up, more and more not-for-profit organizations are turning to “alternative investments” to diversify their long-term investment portfolios. As these investments become more common, the executives, boards and management of not-for-profits need to fully understand their pros and cons. In addition to the inherent market risks, tax-exempt organizations run the risk of losing their exempt status if they do not adequately account for alternative investment income and comply with strict government reporting requirements.
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April is Financial Literacy Month
Posted April 20, 2011
April is Financial Literacy Month, when Americans of all ages are urged to work toward a better understanding of money and personal finances. Many local financial institutions and state organizations of certified public accountants are sponsoring events and holding seminars throughout the month.
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Celebrating 50 Years of Success
Posted April 6, 2011
November 1, 2010 marks 50 years of success for Clifton Gunderson. 50 years of providing trusted business advice and exceptional services to our clients. 50 years of growing and developing our people. Today, we are excited to announce the launch of our 50th Anniversary website. Join us as we celebrate this significant milestone and relive Clifton Gunderson’s 50-year history – our past, present and future.
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A New Lease on Accounting: How the Proposed New Standard for Lease Accounting Applies to You
Posted March 10, 2011
Updated March 2011: At meetings in February and March 2011, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) agreed to significant changes to an exposure draft on lease accounting originally issued in August 2010. The exposure draft proposes a new standard that would ensure that assets and liabilities arising under leases are clearly and consistently recognized in a company’s financial statements.
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Uptick in M&A Activity Reveals Growth Opportunities
Posted March 7, 2011
It may come as a surprise that merger and acquisition (M&A) activity is picking up. Whether a company is on the lookout for strategic acquisitions, or is courting buyers, chances are getting better that a deal can be closed.
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Tax Deductions, Tax Credits, Grants and Other Beneficial Incentives for Arizona's Environmentally Conscious Businesses and Individuals
Posted March 4, 2011
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IRA Charitable Distribution Option Extended Through 2011
Posted February 18, 2011
Thanks to the Tax Relief Act of 2010, qualified individuals age 70 1/2 can once again take advantage of the IRA qualified charitable distribution option. Originally part of the Pension Protection Act of 2006, this strategy offers tax savings as well as much-needed cash for charitable organizations.
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Acquisitions Expand Clifton Gunderson Resources
Posted January 28, 2011
Clifton Gunderson has announced two strategic acquisitions that expand the firm’s markets and capabilities. Effective Jan. 1, 2011, Clifton Gunderson acquired Meyners + Co., a CPA firm in Albuquerque, NM, and Durkin Forensics, Inc., a forensic accounting and fraud investigation firm in Los Angles.
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Staying Ahead of the Changing Medicaid Landscape
Posted December 22, 2010
The Alabama Medicaid Agency needed an advisor who has experience with government agencies and their complex regulations. Clifton Gunderson provides the experience and staff continuity that allow the agency to feel they are getting the best information they can.
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FASB Proposes Changes in Accounting for Multiemployer Benefit Plans
Posted December 14, 2010
If implemented, a proposed update in accounting standards for multiemployer benefit plans would require a significant increase in disclosures on financial statements. The Financial Accounting Standards Board (FASB) says the proposal is made in response to concerns raised by financial statement users about the lack of information provided by current disclosure requirements. Adoption of the new standard could be as early as the second quarter of 2011, according to FASB.
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How To Correct Errors In Your Retirement Benefit Plan
Posted December 10, 2010
An audit of your retirement benefit plan has uncovered something unexpected. For a number of years, you have not included bonuses and other qualifying income in calculations to determine company contributions to your 401(k). As a result, you could owe thousands of dollars in additional contributions to employee accounts.
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Bridging International Audit Differences
Posted December 6, 2010
Spanning different countries with different tax and audit issues, the customer service company AFFINA faced some complex situations with aggressive deadlines. Clifton Gunderson's responsiveness and proactive ideas, including industry benchmarking, provide them invaluable insight for continued success.
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Technology Trends - Keeping Up with the Latest Could Pay Dividends Later
Posted November 23, 2010
In our current economy, technology spending has been focused primarily on maintenance rather than strategic growth. Even after nearly two years, some businesses continue to take a “wait and see” approach to technology plans and investments. And yet technology marches on, becoming more and more integral to business growth.
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Executive Compensation: What Every Business Owner Needs
Posted November 22, 2010
Compensation is a strong motivator for manager, executives, business owners and shareholders. But critical planning must take place in order for compensation plans to work as intended, and to make sure that that they don’t run afoul of IRS rules. This white paper reviews a wide range of compensation issues, including unreasonably high compensation (in the opinion of the IRS), unreasonably low compensation, how to substantiate claimed deductions and compensation issues that may arise in an environment of higher taxes.
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Structuring International Operations: Tax and Accounting Considerations
Posted November 16, 2010
Taxation is one of the most significant variables to consider when structuring an international operation. Whether it is a U.S. company entering a foreign market, or an overseas company considering operations in the United States, there are many complex decisions before factories are built or widgets are manufactured. This white paper looks at some of the U.S. and foreign tax laws, how they work and strategies for minimizing tax liability here and abroad.
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Retirement Plan Compliance Check Up: How to Find Operational Defects, e-File and Stay in Compliance
Posted November 9, 2010
Employers provide employee benefit plans as a reward for hard work and loyalty, to boost morale and to attract the best talent in a highly competitive job market. But an employer’s responsibilities do not end when the health benefit or retirement plan is established. This white paper has been prepared to assist employers in finding and correcting operational defects that, left undetected and unchanged, can be expensive and time-consuming to correct, and can lead to a plan losing its qualified status. Also included is a review of the penalties that the DOL is prepared to levy against benefit plan sponsors that fail to meet the filing requirements.
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Choice of Entity for Cleantech Companies
Posted November 8, 2010
Cleantech has arrived as a dynamic driver of economic and environmental change. The sector is one of the fastest growing and largest
recipients of venture capital investment, raking in billions of dollars to capitalize on a wide range of domestic and global opportunities. For
the fast-growing start-up, and the established player in a rapidly evolving market, it is critical to balance today’s market demands and
technological promise with sound business practices.
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Clifton Gunderson Celebrates 50th Anniversary
Posted November 3, 2010
Clifton Gunderson celebrates its 50th Anniversary. The firm was formed on November 1, 1960 in Peoria, Illinois and has since expanded nationally to 21 states across the country. The firm now serves clients from 46 offices, with 214 partners and a staff of more than 1,500 professionals.
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The Evolving Role of Internal Audit in Risk Management
Posted October 20, 2010
Risk is inherent in any business — without risk, there is no reward. The last two years, however, have sharply intensified the focus of organizations on their risk profile and how they are managing their risks.
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A Tax Perspective on The 2010 Health Care Act and the HIRE Act of 2010
Posted October 14, 2010
Two significant pieces of tax legislation were passed in the first half of 2010. One attempts to boost the still-struggling U.S. economy, the other is a historic overhaul of the American health care insurance and delivery system. Both laws have important tax implications for individuals and businesses.
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IT Oversight: Six IT Management Strategies for Construction Companies
Posted October 12, 2010
In a recent survey of executives by the IT Governance Institute, half of the executives indicated that IT is very important to their organization, yet noted that Internal Technology matters were discussed only on an ad hoc basis at the board level. This is surprising since stronger IT governance practices correlate strongly with better IT outcomes. With three-quarters of businesses surveyed believing they have barriers that prevent full IT investment returns, there’s never been a better time to look at the role that IT oversight can play in the corporate governance and success of construction companies.
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Improving Processes Through 25 Years of Growth
Posted October 11, 2010
Aero Federal Credit Union has experienced rapid growth over the past 25 years. Through tips on underwriting loans, guidelines for regulation compliance, and advice on streamlining operations, Clifton Gunderson has helped them become a more efficient credit union.
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Recognizing Change: Impact of the Proposed Changes in Accounting for Revenue Recognition in Building and Construction
Posted October 7, 2010
If implemented as proposed, an exposure draft recently published by the U.S. Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) will have a significant impact in the building and construction industries.
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New Tax Breaks Designed to Boost Business Investment and Spending
Posted September 28, 2010
Signed into law on Sept. 27, the Small Business Jobs Act (H.R. 5297) is meant to stimulate business investment and spending. It includes a package of extended and expanded business incentives, benefits to promote retirement savings and revenue raisers to cover the $12 billion price tag.
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ALERT! Mandatory Form 5500 filing for sponsors of group benefit plans
Posted September 24, 2010
If your organization has more than 100 employees and sponsors a group health plan, an annual Form 5500 filing with the Department of Labor (DOL) is most likely required!
Failure to file the Form 5500 in a timely manner will result in a penalty of $25 per day up to a maximum of $15,000.
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Start Building Your Economic Recovery: Seven Strategies to Balance Cash Flow in a Gloomy Economy
Posted September 17, 2010
In spite of the economy, there are opportunities for tax savings and growth. Our new white paper outlines seven strategies for balancing your cash flow through tax savings and tax-favored merger and acquisitions.
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Five Tax Saving Ideas for 2010
Posted September 15, 2010
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Keeping Current on Not-for-profit Regulations
Posted September 13, 2010
As a not-for-profit, Access Living is challenged by keeping up with ever-changing standards, regulations, and tax laws. They needed experts to stay on top of the changes and help them get up to speed quickly, allowing them to focus more directly on their business. Clifton Gunderson offers the expertise and responsiveness they require.
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Partial Plan Terminations - Know The Potential Impact of Employee Terminations
Posted September 3, 2010
A “partial plan termination” sounds like a serious matter. In fact, it can be serious, with consequences including the potential disqualification of an employee benefit plan by the IRS. But such dire consequences can be avoided if an employee benefit plan sponsor conducts a timely evaluation to determine if a partial plan termination (PPT) has occurred.
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The Financial Reform Act of 2010: A First Look at the Known and the Unknown
Posted August 30, 2010
The Financial Reform Act of 2010 brings sweeping changes to the financial services sector and most public companies. That much is certain. What is less certain is exactly what the 2,300 pages of the reform law will look like in the real world.
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Financial Reform Act of 2010 – Greater Cost and Compliance
Posted August 30, 2010
The Dodd-Frank Wall Street Reform and Consumer Protection Act runs to 2,300 pages. It will take some 5,000 more pages of new regulations to put it all in place. Download our new white paper and find out what it might mean for consumers, the financial services sector and public companies.
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Insurance & Executive Benefits - Five Risks That a Professional Fiducairy Faces Now as a Trustee of an Insurance Trust and Our Five-Step Professional Process
Posted August 20, 2010
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Risk Governance and the Ongoing Role of Internal Audit (PDF, 266K)
Posted August 9, 2010
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Expanding Resources to Navigate the Complexity of International Business Opportunities
Posted July 28, 2010
The complexities of U.S. tax law are multiplied when a U.S.-based company begins exploring global business opportunities. Corporate structure, supply chain, cross-border transactions, method and timeline of revenue declaration, international accounting issues and many other factors will impact the U.S. company’s tax obligations here and abroad.
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Deadline Extended for Homebuyer Tax Credit
Posted July 16, 2010
On July 2, 2010, President Obama signed a bill that once again extends the closing deadline for the Homebuyer Tax Credit, this time to Sept. 30, 2010. According to the National Association of Realtors, as many as 180,000 additional homeowners will be able to take advantage of the credit that would otherwise have missed out.
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How States Might Expand the Taxability of Services to Boost Revenue (PDF, 234K)
Posted July 15, 2010
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Tax Deductions, Tax Credits, Grants and Other Beneficial Incentives for Colorado's Environmentally Conscious Businesses
Posted July 12, 2010
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Reporting Internal Control Deficiencies Under SAS 115 and the Chartering of an Audit Committee
Posted July 12, 2010
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A Year-By-Year Look at Tax Credits, Increases, Penalties and Reporting Requirements Related to Health Care Reform and Jobs Creation
Posted June 28, 2010
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Still Waiting, Still Wondering - An Update on the Status of International Accounting Standards
Posted June 25, 2010
Just over a year ago, the future of accounting standards in the United States seemed certain: Generally Accepted Accounting Principles (GAAP) were on the way out, and International Financial Reporting Standards (IFRS) were on track to be adopted, first for public companies, and then some years down the road, for private enterprises.
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Foreign Import: Is the U.S. Headed for a Value Added Tax?
Posted June 25, 2010
Even as the economic meltdown of the past two years shows signs of improvement, Americans are faced with an economic crisis of a different sort. New government spending, on everything from the economic stimulus to health care reform, means federal deficits are heading toward record highs.
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Best Practices for Not-for-Profit Governance: Insight into IRS Form 14114, Governance Check Sheet (PDF, 147K)
Posted June 24, 2010
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Get the Latest on Important Tax Legislation
Posted June 18, 2010
Tax laws are constantly changing. Clifton Gunderson is keeping you informed with news and analysis of the latest developments in taxation. Check here to learn how changes will affect your personal and business finances.
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Grain Survey: Grain Elevators Financial Ratio and Percentage Comparison (PDF, 245K)
Posted June 16, 2010
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Grain Survey: Grain Elevators Commissions, Drying Rates and Storage Rates Comparison (PDF, 147K)
Posted June 16, 2010
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Write It Down - The Importance of Documenting Internal Controls in Writing
Posted June 11, 2010
"If it's not written down, it doesn't exist." So goes the mantra of the executive charged with documenting and implementing internal controls. In today’s paperless, wireless, digital business environment, there are even more compelling reasons for documenting not only how controls are designed to work, but also evidence that controls are being implemented and are functioning effectively.
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Clifton Gunderson Expands International and National Presence with Addition of Four New Firms
Posted June 4, 2010
Clifton Gunderson has expanded its presence, resources and expertise at both the international and national level with the addition of three new firms – U.S. Tax Advantage, Humes & Barrington, Stockton Bates, and the resources and talent of the former BKD-Merrillville office to strengthen the firm’s presence in the Chicagoland area.
By combining resources and expertise with these four organizations, Clifton Gunderson – ranked among the nation’s largest certified public accounting and consulting firms – strengthens its presence as one of the leading suppliers of international tax services with the acquisition of USTA. The firm also expands its national footprint in several new markets including St. Louis (Humes & Barrington) and Philadelphia (Stockton Bates). Clifton Gunderson adds the talent and expertise of 112 professionals and a long list of new clients.
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Digital Filing Mandate - E-Filing Is Now Mandatory For Employee Benefit Plans
Posted May 28, 2010
The Department of Labor (DOL) has crossed the fine line between offering online services and mandating online services. It’s happening this year with Form 5500, Annual Report/Return for Employee Benefit Plans. The form must be filed each year by more than 1 million retirement and other employee benefit plans to satisfy annual reporting requirements under the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code.
