U.S. jobs report: Hiring slows as another 75-basis-point rate increase looms
(authored by RSM US LLP) The U.S. economy is proving far more resilient in the face of sustained pricing pressures than otherwise thought a short time ago.
FASB to propose changes to related party leases guidance
(authored by RSM US LLP) The FASB recently voted to issue proposals on the determination of an arrangement as a lease and the financial reporting requirements for related party lease arrangements for certain entities.
IRS delays caused employers to wait on needed COVID tax credit relief
(authored by RSM US LLP) Congress passed multiple pieces of legislation aimed at providing relief to employers struggling due to the pandemic. A new Treasury Inspector General for Tax Administration (TIGTA) report finds that ongoing IRS processing delays are causing businesses to wait on COVID-related credits claimed on Forms 941-X. The report states that as of Feb. 1, 2022, there were 447,435 Forms 941-X waiting to be processed.
Given the High Gas Prices, Minimum Wage is Not Even a Working Wage
The average commute in the United States is about 27 minutes. This is about one gallon of gas to and one gallon of gas from
Basic Cyber Hygiene
Cybersecurity has been a chief concern among small business owners for some time, but protecting data from bad actors has become even more important since
What’s In the 2022 Inflation Reduction Act?
On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022. This bill, which was initially written as a successor to
90-Day Pre-Exam Compliance Program for Retirement Plans
In June, the IRS began piloting a new compliance program for benefit plan sponsors. This program gives benefit plans 90-days’ notice of an upcoming examination,
FOMC policy decision preview: Fed to hike lending rate .75% next week
(authored by RSM US LLP) A 100-basis-point increase in the federal funds rate will be on the table during the Federal Open Market Committee meeting next week, but we expect the central bank will hike the policy rate by 75 basis points.
IRS 90-day pre-examination compliance pilot for retirement plans
(authored by RSM US LLP) The IRS is piloting a pre-examination compliance program for retirement plans, which provides plan sponsors with 90-day window to review plan operations and make corrections prior to examination.
Talent War: How professional service firms can recruit & retain top talent
(authored by RSM US LLP) In a two-part Q&A interview, we speak to RSM’s Michael Gerlach, a professional services leader who specializes in advising law firms and legal organizations, about the tight labor situation roiling the professional services industry.
Talent War: Law firms, accounting firms face increasingly tight labor market
(authored by RSM US LLP) In a two-part Q&A interview, we speak to RSM’s Michael Gerlach, a professional services leader who specializes in advising law firms and legal organizations, about the tight labor situation roiling the professional services industry.
Changes in Fed policy and their impact on the economy
(authored by RSM US LLP) The Federal Reserve’s changes to short-term interest rates will affect the stock of money, which directly determines the direction of the real economy…