By Nicholas Sanchez, J.D., LL.M. Taxation Sunday night, December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021, H.R. 133, Division M of which includes the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (“CRRSAA” or “the Act”). The Act contains many tax provisions, one of the most anticipated being clarification on the […]
Miller Kaplan, a top-100 certified public accounting firm, is pleased to announce that Michael Kaplan, CPA has been elected by his fellow partners to serve as Managing Partner, effective January 1, 2021. “The partners are all very focused on how the firm can continue to evolve its services and technology to best serve our clients […]
The IRS, U.S. Department of Labor and Department of Health and Human Services recently issued interim final regulations addressing group health plan coverage of COVID-19 preventive services — including vaccinations — and testing. The regulations are effective immediately and will sunset at the end of the COVID-19 public health emergency. Qualifying preventive services The regulations […]
Every business owner is aware of the threat posed by cybercriminals. If a hacker were to gain access to the sensitive data about your business, customers or employees, the damage to your reputation and profitability could be severe. You’re also probably aware of the specific danger of “phishing.” This is when a fraudster sends a […]
In a Revenue Procedure, the IRS recently provided information regarding the inflation-adjusted maximum dollar amount that may be made for excepted benefit Health Reimbursement Arrangements (HRAs) or other account-based group health plans next year. More specifically, the amount applies to plan years beginning after December 31, 2020, and before January 1, 2022 — referred to as the […]
Whether it’s a smart phone, tablet or laptop, mobile devices have become the constant companions of today’s employees. And this relationship has only been further cemented by the COVID-19 pandemic, which has thousands working from home or other remote locations. From a productivity standpoint, this is a good thing. So many tasks that once kept […]
The Los Angeles Business Journal recognized Alexandra Chernyak among the 2020 Women of Influence: Accounting.
In response to the COVID-19 pandemic, federal agencies have extended certain claims and appeals periods for employee pension benefits plans subject to the Employee Retirement Income Security Act (ERISA). The relief also applies to qualifying group health plans, as well as eligible disability plans and other employee welfare benefit plans. The extension permits the “outbreak […]
In August, a federal trial court invalidated several provisions of the U.S. Department of Labor’s (DOL’s) temporary regulations that implemented the paid leave provisions of the Families First Coronavirus Response Act (FFCRA). By way of a response, the DOL’s Wage and Hour Division recently issued revised temporary regulations and updated its related FAQs. The revised […]
by David Lam | This article originally appeared in The Los Angeles Business Journal Technology has been transforming business for decades and in recent years CFOs have become increasingly affected by these transformations. Advances in automation, artificial intelligence, and cloud computing are taking over traditional accounting functions, and the continued rise of operational and strategic CFOs […]
Has your organization laid off employees this year because of the COVID-19 pandemic, but you plan to rehire some of them before the end of 2020? Or maybe you already have. If so, and you offer a qualified retirement plan, the IRS recently issued an important clarification regarding whether partial termination of a qualified plan […]
The IRS recently announced 2021 indexing adjustments for some critical percentages under the Affordable Care Act (ACA). This makes now a good time to review whether your organization is an applicable large employer (ALE) under the ACA and, if so, whether the health care coverage you offer employees will still be considered “affordable” as defined […]