(The.Idea.Exchange) Blog. Timely articles on a wide range of topics including new tax legislation, accounting regulations, best practices, industry news, business insights and more.
The IRS recently issued Notice 2020-23, expanding on previously issued guidance extending certain tax filing and payment deadlines in response to the novel coronavirus (COVID-19) crisis. This guidance applies to specified filing obligations and other “specified actions” that would otherwise…
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The U.S. Department of Labor (DOL) has released a final rule which should make it easier for smaller businesses to provide retirement plans to their employees. According to the DOL, the rule will enable more small and midsize unrelated businesses…
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On January 16, 2015 we issued an alert about the Illinois Secure Choice Savings Program Act. This Act requires Illinois employers with 25 or more employees, who have been in operation for at least two years, and who do not…
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Are you a high-income small-business owner who doesn’t currently have a tax-advantaged retirement plan set up for yourself? A Simplified Employee Pension (SEP) may be just what you need, and now may be a great time to establish one. A…
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Well it’s that time of year again…time to dust off those participant files and prepare for the employee benefit plan audit season. As a firm who takes pride in our efficiencies with employee benefit plan audits, here are some tips…
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Both Congress and the White House want to increase access, coverage and participation in retirement savings plans. A recent study indicates that a majority of American households may not be able to maintain their standard of living after retirement and…
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