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Does Form 5500 Reporting Apply to Your Retirement Plan?

Form 5500, the Annual Return/Report of Employee Benefit Plan, was developed by the Internal Revenue Service (IRS), the Employee Benefits Security Administration (EBSA), and the Pension Benefit Guaranty Corporation (PBGC). Plan sponsors use this form to satisfy annual...

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How To Navigate an Individual Tax Audit

While it is accurate to say that the IRS has audited significantly fewer people, less than 1% of individual tax returns are audited and the majority of audits nowadays are handled from a distance rather than in person, these changes do not mean that you will never be...

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Three Key Supply Chain Management Questions for 2023

Manufacturers will continue to face supply chain headwinds in 2023, a cause for concern following a turbulent few years. Economic uncertainty, supply shortages, rising costs and frustrated customers threaten to impede growth. Some supply chain industry pundits would...

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Maximizing Tax Benefits of Transaction Costs

Whether related to an acquisition, merger, restructuring, reorganization, initial public offering or spin-off, the costs paid by companies to service providers such as investment bankers, attorneys, accountants and consultants to investigate and pursue a transaction...

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5 Steps to Becoming Sales and Use Tax Compliant

Most U.S. states require businesses to collect and remit sales and use taxes even if the business has no in-state physical presence, only an economic presence within their state. Remote sellers, licensors of software, and other businesses that provide services or...

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2023 Tax Deadlines

  Individual Deadlines: January 17, 2023 4th Quarter 2022 estimated tax payment due. April 3, 2023 Required minimum distribution due if you turned 72 in 2022. April 18, 2023 Tax day April 18, 2023 Deadline to File Form 4868 and request an extension.  April 18,...

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How To Protect Employees’ Private Information

Personal identifiable information is defined as the personal information of an individual that can be used to identify them. According to the Department of Labor, PII can be in the form of either direct or indirect information. Examples of direct forms of PII include...

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IRS Update

On Tuesday, October 18th, 2022, the IRS issued Revenue Procedure 2022-38 releasing the annual inflation adjustments for 2023. Congress had codified the annual inflation adjustments as part of the 1981 Reagan tax cuts that went into effect in 1985. Over sixty tax...

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