Article

FinCEN Amends Reg Related to Willful FBAR…

Feb 09th, 2022

The Financial Crimes Enforcement Network (FinCEN) announced in December 2021 that it has amended a regulation under the Bank Secrecy Act (BSA) to remove obsolete civil penalty language related to willful failures to file FinCEN…
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Article

IRS Issues Final Foreign Tax Credit Regs

Feb 09th, 2022

Both the United States and foreign countries may tax the foreign source income of U.S. taxpayers. To ease this double taxation burden, the Internal Revenue Code permits most U.S. taxpayers who pay income taxes to…
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Article

Bittner is Back: Fifth Circuit Weighs in on…

Feb 08th, 2022

Several recent cases winding their way through the courts have addressed what has become a contentious question. That is, does the $10,000 nonwillful penalty for failure to file a FinCEN Report 114, “Report of Foreign…
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Article

New tax reporting requirements for payment…

Feb 07th, 2022

If you run a business and accept payments through third-party networks such as Zelle, Venmo, Square or PayPal, you could be affected by new tax reporting requirements that take effect for 2022. They don’t alter…
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Article

New Gifts-In-Kind Presentation and Disclosure…

Feb 02nd, 2022

Are you ready? In September 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-07 Not-For-Profit Entities (Topic 958): Presentation and Disclosures by Not-For-Profit Entities for Contributed Nonfinancial Assets. Contributed financial assets,…
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Article

2022 Tax Calendar: Remember these important…

Jan 31st, 2022

To help you make sure you don’t miss any important 2022 deadlines, we’ve provided this summary of when various tax-related forms, payments, and other actions are due. DateDeadline ForJanuary 31Individuals: Filing a 2021 income tax return…
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Article

Digital Due Diligence: The Value for Private…

Jan 18th, 2022

Emerging and changing technologies introduce new risks and opportunities in the mergers and acquisition space. Capitalizing on these opportunities will give private equity firms additional value by uncovering synergies and infrastructure-based competitive advantages. Not addressing the…
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Video

2021 Fourth Quarter Assurance & Tax Services…

Jan 13th, 2022

How will emerging accounting, regulatory, and market developments impact financial reporting for your organization? This webinar covers regulatory and tax updates as well as cybersecurity updates. Presentation slides are available here and a downloadable PDF…
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Article

2021 Fourth Quarter Assurance and Tax…

Jan 10th, 2022

Happy New Year! We hope you and your family were able to enjoy the holiday season. We look forward to serving and partnering with you in this new year.  In this edition of the quarterly…
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Article

Financial Services 2021 Fourth Quarter Report

Jan 04th, 2022

Happy New Year! We hope you and your family were able to enjoy the holiday season. We look forward to serving you and partnering you in this new year. In this edition of the quarterly…
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Video

Nonprofit and Individual Tax Perspectives

Dec 17th, 2021

On Demand | 1 hour Recently, Elliott Davis hosted a special edition of our Brown Bag webcast covering developments in both the individual and nonprofit tax arenas. Our tax specialists covered IRS priorities and initiatives…
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Video

Dynamics Of Enterprise Risk & Internal Audit

Dec 16th, 2021

Recently, Elliott Davis hosted a panel discussion on the transformation and importance of enterprise risk management and internal audit for organizations of all sizes. From “Box-Checking” to “Value-Adding”, we discussed how internal audit can provide…
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