Alerts and Press Releases

FASB Simplifies Goodwill Impairment Testing . . . Again

Posted on: February 8, 2017

In January 2017, the Financial Accounting Standards Board (FASB) issued additional revised guidance for goodwill impairment testing that’s intended to make the process easier and less costly. The latest amendments, found in Accounting Standards Update (ASU) No. 2017-04, Intangibles — Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, establish a one-step process for testing goodwill for a decrease in value.

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New Law Clears the Way for Small Businesses to Offer Standalone HRAs

Posted on: January 5, 2017

The 21st Century Cures Act, signed into law on December 13, 2016, includes good news for small businesses that have been prohibited in recent years from providing their employees with HRAs. Specifically, beginning January 1, 2017, qualified small employers can use HRAs to reimburse employees who purchase individual insurance coverage, rather than providing employees with costly group health plans. This article explains why small employers were unable to offer “standalone” HRAs to employees and details the new QSEHRAs.

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Deadline Extended for ACA Information Reporting to Employees

Posted on: December 15, 2016

The IRS has again extended the deadline for employers subject to the ACA’s information reporting requirements to meet their obligations to employees, but only by 30 days, from January 31, 2017, to March 2, 2017. The deadline for filing the required information reporting forms with the IRS has not been extended. This article explains the ACA’s information reporting requirements and the deadline extension, as well as some penalty relief that’s available.

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Mature Nonprofits Face Changing Priorities

Posted on: December 13, 2016

Successful nonprofits typically proceed along a standard life cycle. Their early stage precedes a growth period that runs several years, followed by maturity. The maturity (or governance) stage generally begins around an organization’s eighth year. By this time, the nonprofit has built its core programs and achieved a reputation in the community. But no organization can afford to rest on its laurels. In fact, mature not-for-profits often face a critical fork in the road. The next step can lead to renewal — or stagnation and eventual decline.

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