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Deadlines are quickly approaching for ERISA employee benefit plans. Not only must plan sponsors comply with the provisions set forth in the Securing a Strong Retirement Act of 2022 (SECURE 2.0), but compliance may also trigger mandatory plan amendments that must be adopted according to a timeline… Read more
President Trump signed an executive order on March 25, 2025, that directs the U.S. Department of the Treasury to phase out paper check disbursements by September 30, 2025. As a result, the IRS, a bureau of the Department of the Treasury, will discontinue issuing paper checks for tax refunds. The…
This article focuses primarily on the guidance provided by Rev. Proc. 2025-28 on the small business taxpayer retroactivity election, for which immediate action may be necessary. BDO will address other important guidance contained in the Rev. Proc. in one or more subsequent articles.
On December 27, 2024, the Office for Civil Rights (OCR) at the U.S. Department of Health and Human Services (HHS) issued a Notice of Proposed Rulemaking (NPRM) to amend the Health Insurance Portability and Accountability Act of 1996 (HIPAA) Security Rule.
This proposed rule aims to bolster…
As donor expectations, grant compliance requirements, and regulatory scrutiny continue to rise, audit readiness has become a strategic imperative for nonprofit organizations. For controllers, CFOs, and finance directors, being “audit ready” is not just about preparing for the annual financial…
The “One Big Beautiful Bill Act” (OBBBA), introduces Section 174A, a new provision that permits an immediate deduction for domestic research and experimental (R&E) expenditures, including software development costs, paid or incurred in tax years beginning after December 31, 2024. The OBBBA also…
State tax laws are evolving rapidly, with broadening nexus standards, shifting apportionment rules , aggressive enforcement tactics, and growing divergence from federal standards. As a result, companies operating across multiple U.S. states face an increasingly complex state tax compliance…
In the nonprofit sector, audit readiness has evolved from a basic compliance obligation into a strategic necessity that is foundational to strong governance and essential for maintaining stakeholder trust. Audit readiness enables organizations to provide clear, accurate, and timely financial…