Article Archives: 2013

Posted by: Megan Ryan

By Megan Ryan, CPA Employers who maintain self-insured medical plans are subject to the Patient-Centered Outcomes Research Trust Fund Fee established under the Affordable Care Act (ACA). The fee will fund the Patient-Centered Outcomes Research Institute (PCORI). Some employers with self-insured medical plans must pay this fee for the first time on or before July […]

By Clark Nuber PS In May 2013, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) issued an updated Internal Control-Integrated Framework. COSO’s original Framework was issued in 1992 and has since been adopted by numerous organizations in establishing internal controls. Many not-for-profit organizations are familiar with the concepts of the original Framework based […]

Posted by: Sarah Huang

By Sarah Huang, CPA Ninety percent of schools had underreported taxable income according to the statistics from the IRS’s final report on the College and University Compliance Project released at the end of April; $170 million in adjustments were made to net operating losses (NOLs). Wages increased $36 million, netting $7 million in taxes and […]

Posted by: Joe Haberzetle · Bob Heller

By Joe Haberzetle, JD, LLM and Bob Heller, JD, LLM In recent years the Washington Board of Tax Appeals has developed a reputation as a difficult venue for taxpayers to achieve positive results, particularly with respect to excise tax and property tax exemption issues. However, the Board’s recent decision in St. Andrews Building Corporation v. […]

Posted by: Shawn Hansen

By Shawn Hansen, CPA The Internal Revenue Service (IRS) recently announced that it has established a new program to review and approve certain types of 403(b) plan documents. Previously, final 403(b) regulations that became effective in 2009 required employers sponsoring 403(b) plans to adopt a written plan document describing the plan’s major provisions and rules. […]

The AIPCA has completed its first comprehensive update to the Not-For-Profit Entities Audit and Accounting Guide since 1996. The updated guide, available now, includes changes to AICPA literature that stem from the Auditing Standards Board’s Clarity project and authoritative guidance from the FASB ASC Codification. The updated guide includes simplified explanations, examples, guidance and recommendations […]

By Jennifer Mace, CPA and Jennifer Becker Harris, CPA U.S. charities are now more than ever diversifying their investment portfolios to include foreign investments, especially foreign program-related investments. They are also offering services on the ground in foreign countries with essential charitable programs. Most charities are aware of the foreign bank account reporting obligations for […]

Posted by: Troy Rector

By Troy Rector, CPA The second of a two-part series covering the Proposed Uniform Guidance recently issued by the Office of Management and Budget (OMB). Part 1 provided an overview of the overall Proposed OMB Uniform Guidance document and specific changes to cost principles and administrative requirements applicable to Federal awards. Part 2 discusses OMB’s […]

Posted by: Troy Rector

By Troy Rector, CPA The first of a two-part series covering the Proposed Uniform Guidance recently issued by the Office of Management and Budget (OMB). Part 1 will provide an overview of the overall Proposed OMB Uniform Guidance document and specific changes to cost principles and administrative requirements applicable to Federal awards. Part 2 will […]

By Jennifer Becker Harris, CPA Great news! A local company has chosen your charity as the beneficiary of an upcoming sales campaign. The promotion promises a $1 donation to your charity for each unit sold. The company estimates your charity will receive $100,000 as part of the promotion. Your charity’s name will be used prominently […]

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