State and local governments participate in external investment pools that function in a similar manner to money market investment funds.

It’s not unusual for the IRS to conduct audits of qualified employee benefit plans, including 401(k)s. Plan sponsors are expected to stay in compliance with numerous, frequently changing federal laws and regulations.

The legal battle has begun as a result of South Dakota’s new sales tax reporting requirements that were signed by the Governor on March 22, 2016 (the “Remote Seller Law”).

The goal of a risk management program is to identify and manage potential events that could affect an organization. Bankers are adept at risk management practices, but a risk that may be overlooked is the influence employees have on the success of a risk management program.

In Texas, a severance tax credit is available for operators of eligible marginal oil leases and gas wells due to the current state of low oil and gas prices.

Companies that lease valuable assets — such as aircraft, real estate and heavy equipment — will soon have to recognize on their balance sheets the assets and liabilities generated by contracts longer than a year under Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842).

To further enable state and local governmental employers to obtain necessary measurements and information for some multiple-employer defined benefit plans, the Governmental Accounting Standards Board (GASB) issued Statement No. 78 – Pensions Provided through Certain Multiple-Employer Defined Benefit Pension Plans – in December 2015.

The Texas Supreme Court ruled in Hallmark Marketing that a taxpayer is not required to subtract net losses on sales of investments and capital assets from the sales denominator (line 25 of the Margin tax return, gross receipts everywhere) in determining the apportionment factor for Texas Margin tax purposes.

In 2014, FASB published four reporting alternatives to simplify GAAP for private companies. Now the FASB is making it easier for private companies to elect these alternative reporting methods by eliminating the so-called “preferability assessment.”

This year’s Emergency Preparation Supplies Sales Tax Holiday begins Saturday, April 23, and ends Monday, April 25. See the list of items that qualify.