News Articles

09

March

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IRS Voluntary Correction Program : The Voluntary Correction Program (VCP) to correct a retirement plans more serious failures.

IRS Voluntary Correction Program The Voluntary Correction Program (VCP) is available to correct a retirement plan’s more serious failures — specifically plan document failures — as well as certain demographic and operational failures that cannot be corrected under the Self-Correction Program (SCP). With Revenue Procedure 2013-12, the IRS has streamlined the application procedure and improved the filing … Continued

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09

March

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Roth IRA Conversion – Transfer or Rollover : Under ATRA, Roth Conversion could be Transfer or Rollover

Roth IRA Conversion: Transfer or Rollover? Under the American Taxpayer Relief Act of 2012 (ATRA), an in-plan Roth 401(k) conversion now may be made as a transfer rather than as a rollover. This new provision means there does not need to be a distributable event for participants to move pretax 401(k) contributions into a Roth … Continued

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09

March

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IRS Requires EIN Updates : All EIN Information Must Be Updated with IRS

IRS Requires EIN Updates The IRS has revised the regulations that require all taxpayers with employer identification numbers (EIN) to update their information with the IRS. The new regulations will take effect on Jan. 1, 2014 and apply to all entities or persons possessing an EIN. EINs are issued by the IRS to basically all … Continued

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09

March

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Alexander Thompson Arnold CPAs Celebrates Team Achievements : ATA Team Members Recognized for Promotions and Passing the CPA Exam

Alexander Thompson Arnold CPAs Announces Team Member Achievements February 19, 2013 Alexander Thompson Arnold CPAs is proud to announce its team members who have earned promotions and have passed the Uniform CPA Examination. “ATA’s mission is to help our clients succeed. Our team members continually excel in the accounting industry and provide the highest quality accounting and … Continued

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09

March

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AICPA Summary of US Office of Management and Budget Proposed Broad Revisions to OMB Circular A-133 : AICPA Governmental Audit Quality Center Summary of OMB Proposed Guidance

AICPA Governmental Audit Quality Center Summary of OMB Proposed Guidance Released January 31, 2013 The federal government spends more than $600 billion annually in the form of grants and cooperative agreements. The U.S. Office of Management and Budget (OMB) and the federal agencies have been talking for some time about how grant policies can be … Continued

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