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.
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…
Initial jobless claims exceed pre-pandemic level for second straight week
(authored by RSM US LLP) There were 229,000 new jobless claims for the week ending June 11, down slightly from an upwardly revised 232,000 in the prior week.
Accounting for Leases in 2022
In early 2016, the Financial Accounting Standards Board (FASB) released new guidance on how businesses should account for leases. That new standard went into effect
A Cash Flow Analysis Can Save Your Business
Financial experts claim that 82 – 90% of small business failures are caused by poor cash flow. Many profitable companies find that they are insolvent
The Many Benefits of Outsourcing the CFO Function
As a small to medium-size business owner, you wear many hats and may be responsible for everything from new product development, to operations, human resources,
Why excess labor demand is unhealthy
(authored by RSM US LLP) We believe the imbalance in the labor market should prompt companies to reassess their growth potential, and as a result, their demand for labor.
The Importance of Choosing a Quality Auditor for Employee Benefit Plans
For years, employee benefit plans (EBPs) have been under a regulatory microscope. In November 2021, the Department of Labor (DOL) will begin to assess the
Discount rate for lessees that are not PBEs
(authored by RSM US LLP) The FASB tentatively decided to allow lessees that are not PBEs to make the risk-free rate election by class of underlying asset.
IRS enhances employee retention credit guidance for open questions
(authored by RSM US LLP) Notice 2021-49 provides answers on previously uncertain issues and addresses changes implemented in the American Rescue Plan Act.
Withdrawal of SBA loan necessity questionnaire for PPP loans
(authored by RSM US LLP) The SBA has formally notified PPP lenders that it no longer will require submission of loan necessity questionnaires. Learn more.