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New Corporate Tax Reporting Requirements for Virginia Announced
Posted by Tarra Curran on Thu, Apr 22, 2021 @ 03:27 PM

On April 7, the Virginia Department of Taxation announced that certain corporations subject to Virginia state income tax must file a one-time report by July 1, 2021. Corporate taxpayers that fail to file the report timely, or make a material misstatement or omission, may be subject to a $10,000 penalty. The purpose of the report is to show the difference between the amount of tax the corporation would pay if it filed as part of a unitary combined group and the amount of the corporation’s tax based on the current filing requirements.

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Topics: Tarra Curran, reporting requirements, Virginia, Virginia Department of Taxation

Understanding and Preparing Affordable Care Act (ACA) Informational Returns is Challenging
Posted by Ron Morrison on Mon, Jun 22, 2015 @ 09:37 AM

Employers Must Prepare Now for New Reporting Requirements

While the Affordable Care Act (ACA) has imposed a number of changes for employers since its inception in 2010, one of the upcoming reporting requirements may be the most challenging yet. The ACA added Sections 6055 and 6056 to the Internal Revenue Code, which requires insurers and applicable large employers to file information returns with the IRS and to provide statements to their full-time employees, similar to Form W-2, about the health insurance coverage offered by the employer.

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Topics: reporting requirements, Affordable Care Act, Ron Morrison

Are You in Compliance with Unclaimed Property Reporting Requirements?
Posted by Tarra Curran on Tue, Dec 3, 2013 @ 09:13 AM

Generally speaking, intangible property that has not been claimed by its rightful owner after a certain period of time has lapsed is classified as unclaimed property. Examples of unclaimed property can range from uncashed payroll checks to uncashed dividend or supplier payment checks, security deposit box contents, and more.

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Topics: Tarra Curran, reporting requirements, Unclaimed Property Reporting

SEC Final Report on IFRS Does Not Include a Recommendation for US Implementation
Posted by John Cronin on Mon, Aug 27, 2012 @ 09:17 AM

Report Addresses Six Areas of Concern

Author: John Cronin

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Topics: John Cronin, reporting requirements, SEC report, IFRS

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