The case of U.S. v. Bittner has been winding its way through the courts for quite some time. At issue is whether the $10,000 nonwillful penalty for failure to file a FinCEN Report 114, “Report…
Under the Inflation Reduction Act (IRA), signed into law in August 2022, the IRS received an $80 billion appropriation. The tax agency is expected to dedicate more than half of that amount to compliance enforcement…
There were lots of smiles and high-fives when ASU 2022-02 Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures eliminated the requirement for creditors to recognize and measure certain modifications as…
On Demand | 4 hours On November 16th, our financial services experts addressed risk management, compliance, information technology, and internal audit topics to help your financial institution anticipate and respond to risks. For more information…
Elliott Davis was asked, “Can you help us automate reports to save time and meet the needs of our customers? We spend too much time on report creation, limiting our ability to focus on analysis.”…
Elliott Davis was asked: “We are growing fast and need to implement a new Enterprise Resource Planning (ERP) system and replace our current outsourced accounting team. Can you help?” Context A leading real estate asset…
Elliott Davis was asked: “We are closing a branch office that includes our accounting and finance staff. Can you provide accounting and finance support to our 11 companies/locations?” Context A vertically integrated holistic land investment…
by David Stewart, Taylor Pelusi, and Spencer Caldwell As we continue our series on business succession this article builds on our first two topics: the buy-sell agreement and the implications of a business transition on…
Successful project management is critical in today’s marketplace. Organizations routinely have 40-50 (or more) projects in flight at any given time. IT projects account for a sizeable percentage of those, however, typical IT departments do…
Elliott Davis was asked: “What are the risks with our planned IT investment, and will it help meet our strategic business objectives?” Context Full-service Chemical company supporting custom development and manufacturing services as well as…
by Rachel Wehrman and Maggie Varn The 2022 holiday season is rapidly approaching. Although consumer spending is expected to increase during this last quarter of the year, challenges such as supply chain delays and the…
What do the 2023 cost-of-living adjustment numbers mean for you? The IRS recently issued its 2023 cost-of-living adjustments for more than 60 tax provisions. With inflation up significantly this year, many amounts increased considerably over 2022…
