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02 Feb 2021
New Word on Preferred Stock Treatment
One of the anticipated changes stemming from the NAIC’s Investment Classification Project took effect for statutory filers on January 1, 2021, with early adoption permitted for 2020 reporting periods. The accounting guidance for preferred stock was revised to more closely […]
12 Feb 2026
New USPS Regulations May Cause Issues for Taxpayers
The US Postal Service (USPS) recently adopted rules in the Domestic Mail Manual (DMM) to redefine postmarks. Effective December 24, 2025, Rule 608.11 of the DMM states that the postmark stamped on a customer’s mailpiece may be applied when it […]
02 Feb 2023
New Legislation: Everything You Need to Know About Secure 2.0 Act
The SECURE 2.0 Act of 2022 (the Act) was signed into law on December 29, 2022. This long-awaited legislation changes the landscape of retirement planning for taxpayers of all ages, with some changes taking immediate effect. The main provisions of […]
06 Aug 2018
New Jersey Court Reinforces Taxation on Captive Insurance
A decision recently passed by the New Jersey Tax Court determined that a company incorporated in New Jersey was liable for self-procurement tax based on all of the U.S. premiums paid to its captive insurer. This decision, based on a […]
15 Jan 2019
New Excess Compensation Tax Guidance for Tax Exempt & Governmental Organizations
Recently, the IRS has issued Notice 2019-9 which provides interim guidance clarifying the implementation of §4960 for tax exempt and governmental organizations that compensate employees in excess of $1 million. This tax is designed as an excise tax with the […]
05 Jan 2021
New COVID-19 Stimulus Bill Provides Continued Relief for Taxpayers
President Donald Trump signed The Consolidated Appropriations Act, 2021 on Sunday, December 27, 2020. The Act provides a variety of new provisions and extends existing ones amid the ongoing COVID-19 pandemic. The bill also clarifies many aspects of the Small […]
31 Aug 2022
New Compliance Requirements Impacting Form 5500
The Department of Labor (DOL), in conjunction with the IRS, recently updated Form 5500 (Annual Return/Report of Employee Benefit Plan) to reflect changes required by the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act). The SECURE […]
Navigating the Model Audit Rule With Confidence
Navigating the Model Audit Rule With Confidence As your insurance organization nears the $300 million or $500 million threshold for direct and assumed written premiums, key compliance requirements take effect, including enhanced oversight, audit committee mandates, and new reporting obligations. […]
28 Sep 2020
Navigating the Current State of (Re)Insurance Renewals
COVID-19 is magnifying the complexity and impact on the P&C insurance industry. We are seeing increased loss frequency and severity, resulting in reduced profitability and capacity, rising premiums, and complexity of exclusions. Tough conversations are underway to define coverage strategies […]
12 Dec 2023
Navigating the Corporate Transparency Act: Beneficial Ownership Information Reporting
The Corporate Transparency Act (“CTA”) created the beneficial ownership information (BOI) reporting rule, scheduled to take effect on January 1, 2024. The CTA is poised to usher in significant reporting requirements for both domestic and foreign entities operating in the […]