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The IRS announced tax relief programs for victims of Hurricanes Harvey and Irma, extending deadlines for filing taxes and exemptions. A statement by the IRS was released reminding calendar-year partnerships that the due date for filing a return after receiving an extension remained September 15 following a recent change in tax law. However, deadlines have been postponed and extended. For deadlines falling on or after September 6, 2017 and before January 31, 2018, taxpayers will have extra time through January 31, 2018 to file certain tax returns and make tax payments, including estimated payments...

On September 7, 2017, Equifax informed the public that millions of American's personal data was accessed by outside individuals. The breach was discovered on July 29, and Equifax said individuals "exploited a U.S. website application vulnerability to gain access to certain files...

Thursday, 14 September 2017

IRS extends filing relief to Florida

A statement by the IRS was released reminding calendar-year partnerships that the due date for filing a return after receiving an extension remains September 15 following a recent change in tax law. However, taxpayers affected by Hurricane Irma have until January 31, 2018 to file their returns. Affected areas in Florida include: The counties of Brevard, Broward, Charlotte, Citrus, Clay, Collier, DeSoto, Duval, Flagler, Glades, Hardee, Hendry, Hernando, Highlands, Hillsborough, Indian River, Lake, Lee, Manatee, Marion, Martin, Miami-Dade, Monroe, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, Sarasota, Seminole, St. Johns, St...

As a result of the recent storms and to commemorate September’s National Preparedness Month, the Internal Revenue Service (IRS) is offering advice to assist taxpayers who may be affected by natural disasters. National Preparedness Month encourages everyone to prepare for disaster and emergency situations. The IRS has provided tips to taxpayers, including to store documents in a safe place, document valuables, check on fiduciary bonds and keep emergency plans updated. The IRS also reminds taxpayers that the agency is willing to help, and offers a special toll-free number to help those affected with disaster-related issues...

The Detroit Red Wings and Rehmann have several things in common: a dedication to teamwork, long-standing success in their respective industries and a commitment to the Metro Detroit region. Maintaining this trend, Rehmann today announced its Cornerstone sponsorship of the Detroit Red Wings at the state-of-the-art Little Caesars Arena. As a Cornerstone partner, Rehmann receives naming rights to the West Club within Little Caesars Arena, as well as on-ice and digital advertising. The newly-coined “Rehmann Club” is an exclusive area that will feature more than 400 premium seats located in the arena bowl, providing a memorable experience for attendees...

Tuesday, 29 August 2017

IRS warns of new phishing scheme

The Internal Revenue Service (IRS) sent a warning Monday about a new ransomware email scam intended to steal private information from the recipient’s computer. The email claims it is the IRS and the Federal Bureau of Investigation (FBI) and advises users to download a fake FBI questionnaire. Rather than downloading a questionnaire, the hyperlink installs malware and prevents victims from accessing their data unless they pay a ransom to the cybercriminals. The IRS cautions victims not to pay the ransom, but instead report the attack to the FBI at the Internet Crime Complaint Center, www...

The Office of Child Support (OCS) has implemented a new Independent Security Audit requirement, contained in Section 4.33(b) of the current (FY 2017) Cooperative Reimbursement Program Agreement.The new requirement refers to more than just IT security, and includes analyzing all management, operational and technical controls over handling, storing and using confidential data.At least once every three years, offices must obtain an Independent Security Audit to evaluate their compliance with the management, operational and technical controls...

Rehmann, a fully integrated certified public accounting and financial services firm, announced today they have won Inavero’s Best of Accounting™ Award for providing superior service to their clients.    The Best of Accounting Award winners are proven industry leaders in service quality based completely on the ratings given to them by their clients. On average, clients of the 2017 winners are more than four times more likely to be satisfied than the industry’s average accounting firm client. Rehmann received a Net Promoter Score (NPS) of 79, quadruple the industry's average...

Wednesday, 09 August 2017

Proposed Accounting Standards Update

On August 3, 2017, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) aimed at clarifying and improving accounting guidance for contributions received and made, primarily by not- for-profit organizations. The proposed ASU can be found at www.fasb.org and stakeholders can provide comments until November 1, 2017...

In addition to the Patient Centered Outcomes Research Institute (PCORI) fee, the transitional reinsurance fee is one of several new fees intended to help fund implementation of the Patient Protection and Affordable Care Act (PPACA). This annual fee, designed to reinsure marketplace exchanges, is being collected over a three-year period from 2014 through 2016 on insured and self-funded plans.   For the 2016 benefit year, contributing entities had the option to pay the entire year’s contribution in one payment that was due January 17, 2017, or elect two payments, with the first remittance ($21.60 per covered life) due no later than January 17, 2017, and the second payment ($5...

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