By Sheba Dalaney, Principal
Recent legislation has made changes to due dates for some tax and information returns that will be filed for the 2016 and following tax years. These changes will require modifying the timing of the preparation work in many cases.
Payroll and information reporting returns (Forms W-2 and 1099)
These forms historically were sent to the recipients by January 31st of each year, and government reporting copies of these forms were transmitted by either February 28th or March 31st , depending on whether they were mailed or electronically filed. For 2016 returns filed in 2017, all copies of the forms must be sent to recipients and filed by January 31st. This change was made to combat identity theft by allowing the IRS to match withholding information when tax returns are filed and reject fraudulent refund claims. The due dates for filing all other information reporting returns remain unchanged. See the table below for specific details: (more…)
By Jeff Faust, Director of Valuation Services
ASL Valuation Services
Generally, most companies understand what a 409A Valuation is and why they need it, but questions commonly arise regarding the timing and subsequent updates of their 409A Valuation. Not all of these questions have clear cut answers and ASL prides itself in helping our clients navigate these “gray areas” of 409A Valuations.
409A Valuations – Frequently Asked Questions
Here are some commonly asked questions: (more…)
In a previous post (Part I), I introduced the idea of the Cash Flows Statement reluctantly trapped in a Cinderella existence. But, with a little understanding, it doesn’t have to stay that way.
“Cinderella” (from Merriam Webster)
- “someone or something that is ignored but that deserves attention or credit”
- “someone or something…that is not expected to do well but that succeeds or wins in a very exciting way”
OK, so maybe the second bullet is a little over-the-top for a financial statement, but you get the point.