Spring Splash Presents: Employee Retention Credits with Hale E. Sheppard
By Hale E. Sheppard, Esq. The Employee Retention Credit (“ERC”) has all the elements to ignite a major battle: Complex laws issued in rapid succession, multiple sources of administrative guidance, rules with retroactive effect, long processing delays, reports criticizing pervasive IRS errors, large numbers of eligible taxpayers, companies advertising questionable claim methods, extended assessment periods, …
Accounting Standards Effective This Year
By Jaclyn Veno, CPA, Galasso Learning Solutions LLCThis article originally appeared in the Winter 2024 issue of the South Carolina CPA Report The issuance of new ASUs by the FASB is part of what makes the accounting profession so exciting! These ASUs are responsive to stakeholder feedback that the FASB has received over the years and …
Navigating the Tough Road Ahead: Client Impacts and Practice Changes from New Ownership Reporting Rules
By W. Verne McGough, Jr. JD, LLM, Merline & Meacham, PAThis article originally appeared in the Winter 2024 issue of the South Carolina CPA Report As 2024 ushers in a host of new legal and compliance challenges, few carry as many far-reaching impacts as the Corporate Transparency Act (“CTA”). Enacted in 2021 with a January 2024 …
CNA: Coverage Considerations: Services Related to the Corporate Transparency Act
Accounting firms have raised questions regarding potential coverage for services delivered to clients related to the Corporate Transparency Act (“CTA”). This article from CNA is designed to provide some general guidance regarding how CNA’s accountants professional liability policies might respond to these questions.
Risk Management and the Corporate Transparency Act (including sample engagement letter)
This article was originally published at https://cpai.com. The first second of the post is reprinted here with a link to the full article. The Corporate Transparency Act (“CTA” or “the Act”) took effect on January 1, 2024, and requires “reporting companies” to report information related to the business’ owners, officers, and controlling persons to the …
