ThomsonReuters

OCTOBER 28, 2021

QUESTION: We inadvertently allowed an employee to make health FSA salary reductions that exceed the Code’s limit. Will this cause our cafeteria plan to lose its tax-advantaged status? ANSWER: The general rule is that a cafeteria plan will lose its tax-advantaged status if it fails to comply with the annual limit on health FSA salary reductions ($2,750 for plan years beginning in 2020 or 2021).

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97

Meade & Moore

OCTOBER 27, 2021

Back in March 2021, the American Rescue Plan Act (“ARPA”) created the State and Local Fiscal Recovery Funds (“SLFRF”) program, which provided up to $350 billion to state and local governments to utilize for a variety of expenditure categories and is administered by the Treasury Department. While there are some questions on what the funds can be spent on ( here is a link to the U.S.

Compliance 52

Compliance Treasury 52

Quantive

OCTOBER 27, 2021

Value Creation is a strategy that business owners use to maximize the value of their company. Often, business owners create value to sell their company at a high price. A sound transition plan helps business owners realize their exit goals and the tentative time-in-hand for getting their company ready for a sale. They can utilize […].

Appraisal 52

Appraisal 52

LaPorte

OCTOBER 27, 2021

At LaPorte, we take seriously our commitment to educating clients about new accounting standards or legislative updates. In an effort to provide timely topics of… The post LaPorte Cafe: Our Commitment to Our Public Sector Clients first appeared on LaPorte.

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Speaker: Susan Spencer, Principal of Spencer Communications

Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.

Marketability

ThomsonReuters

OCTOBER 27, 2021

Many companies provide to their customers some version of software or access to cloud-hosted software. Even companies that do not offer any software services or dashboard access may be involved in the purchase of software or software services. Software, and particularly cloud-based hosted solutions, does not fit comfortably into the customary sales and use tax tangible personal property versus service dichotomy.

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Appraisal Rights

OCTOBER 28, 2021

MJBizCon2021 was as explosive as the cannabis industry itself. The range of programs, volume of exhibits and sheer number of attendees, despite the continuing impact of the pandemic, reflected the vibrant and fast-growing cannabis space itself. Cannabis valuation continues to take center stage in any discussion about the operational, financial or regulatory aspects of the industry.

Marketability 40

Marketability Business Valuation 40

ThomsonReuters

OCTOBER 28, 2021

News Release: IRS updates process for frequently asked questions on new tax legislation and addresses reliance concerns (Oct. 15, 2021); General Overview of Taxpayer Reliance on Guidance Published in the Internal Revenue Bulletin and FAQs (Oct. 15, 2021). News Release. Overview. The IRS has updated its process for issuing guidance in the form of frequently asked questions (FAQs) on newly enacted tax legislation and posted a general overview document clarifying taxpayers’ ability to rely on FAQ g

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ThomsonReuters

OCTOBER 28, 2021

Coronavirus-Related Relief for Retirement Plans and IRAs Questions and Answers (updated Oct. 22, 2021). Available at [link]. The IRS has added two new FAQs to its questions and answers regarding COVID-19 pandemic relief for retirement plans (see our Checkpoint article ). The first considers whether rehiring retired plan participants to fulfill needs related to the COVID-19 pandemic jeopardizes the tax qualification of a pension plan that does not permit in-service distributions.

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ThomsonReuters

OCTOBER 28, 2021

Field Assistance Bulletin No. 2021-02: Temporary Enforcement Policy on Prohibited Transaction Rules Applicable to Investment Advice Fiduciaries (Oct. 25, 2021). Available at [link]. The DOL has announced a short extension of its temporary nonenforcement policy for investment advice fiduciaries. That policy, set out in Field Assistance Bulletin (FAB) 2018-02 (see our Checkpoint article ) was adopted in 2018 after a panel of the Fifth Circuit Court of Appeals vacated the DOL’s 2016 regulations r

Compliance 52

Compliance 52