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DHS Amends Haiti TPS Designation: Implications for Employers and Form I-9 Compliance
By Christopher Wood, CPP, Checkpoint The Department of Homeland Security (DHS) recently adjusted the Temporary Protected Status (TPS) for Haiti. This change means some employers need to update their Form I-9 paperwork. It’s a good reminder for
Programmatic Investments, of the AICPA Audit and Accounting Guide, Not-for-Profit Entities
The AICPA issued a working draft of Chapter 8, Programmatic Investments, of the 2024 AICPA Audit and Accounting Guide, Not-for-Profit Entities (Audit Guide), on May 9, 2024, for public comment. The working draft gained feedback from accountants on
GASB Issues Subsequent Events Exposure Draft
On November 13, 2024, GASB issued an Exposure Draft (ED) of a proposed Statement of Governmental Accounting Standards for public comment. Comments are due by February 21, 2025. The proposed statement is titled “Subsequent Events”
PCAOB Issues Staff Publication on Journal Entries
Some auditors continue to struggle with appropriately selecting and testing journal entries in their audits of financial statements. Specifically, for audits of public companies, the Public Company Accounting Oversight Board (PCAOB) indicates that it continues to find many deficiencies pertaining to the examination of journal entries (or other adjustments) for possible fraudulent material misstatement.
Five-Minute Tax Briefing
Proposed Regulations Would Limit Deductibility of Covered Employee Compensation Over $1 Million: The IRS has issued Prop. Reg. 1.162-33, which would amend guidance under IRC Sec. 162(m) on the definition of “covered employees” to include the five highest paid
New Mexico Advises on Gross Receipts Tax Liability for Marketplace Providers
By Lisa Lopata, Esq., Checkpoint The New Mexico Taxation and Revenue Department (TRD) issued a ruling to a marketplace provider discussing gross receipts tax liability for various fees it receives. The marketplace provider offers products
