#cbizmhmwebinar 1 CBIZ & MHM Executive Education Series™ Fourth Quarter Accounting and Financial Reporting Update Mike Loritz, Mark Winiarski, Steve Henley Jan. 7 & Jan. 14, 2015
Transcript
1. #cbizmhmwebinar 1 CBIZ & MHM Executive Education Series
Fourth Quarter Accounting and Financial Reporting Update Mike
Loritz, Mark Winiarski, Steve Henley Jan. 7 & Jan. 14,
2015
2. #cbizmhmwebinar 2 About Us Together, CBIZ & MHM are a
Top Ten accounting provider Offices in most major markets Tax,
audit and attest* and advisory services Over 2,900 professionals
nationwide A member of Kreston International A global network of
independent accounting firms
3. #cbizmhmwebinar 3 Before We Get Started To view this webinar
in full screen mode, click on view options in the upper right hand
corner. Click the Support tab for technical assistance. If you have
a question during the presentation, please use the Q&A feature
at the bottom of your screen.
4. #cbizmhmwebinar 4 CPE Credit This webinar is eligible for
CPE credit. To receive credit, you will need to answer periodic
participation markers throughout the webinar. External participants
will receive their CPE certificate via email immediately following
the webinar.
5. #cbizmhmwebinar 5 Disclaimer The information in this
Executive Education Series course is a brief summary and may not
include all the details relevant to your situation. Please contact
your service provider to further discuss the impact on your
business.
6. #cbizmhmwebinar 6 Presenters Mike has 18 years of experience
in public accounting with diversified financial companies and other
service based companies, including banking, broker/dealer,
investment companies, and other diversified service companies
ranging from audits of public entities in the Fortune 100 to small
private entities. He is a member of MHM's Professional Standards
Group, providing accounting knowledge leadership in the areas of
derivative financial instruments, financial instruments,
share-based compensation, fair value, revenue recognition and
others. 816.945.5611 [email protected] MIKE LORITZ, CPA MHM
Shareholder
7. #cbizmhmwebinar 7 Presenters Located in our Kansas City
office, Mark is a member of our Professional Standards Group (PSG).
Mark's role includes instructing in our national training program,
presenting as a subject matter expert at webinars and conferences,
and preparing MHM publications on accounting and auditing issues.
Mark consults with clients and engagement teams across the country
in many areas of accounting and auditing, including business
combinations, variable interest entities and revenue recognition
for numerous industries including manufacturing, distribution,
mining, retail sales, services and software. 816.945.5614
[email protected] @KCWini MARK WINIARSKI, CPA MHM
Shareholder
8. #cbizmhmwebinar 8 Presenters Steve Henley is the National
Tax Practice Leader for CBIZ. Steve's responsibilities include
developing and implementing strategies for the successful operation
of the tax practice, including national support for the CBIZ MHM's
local tax practices through the National Tax Office. 770.858.4500
[email protected] STEPHEN HENLEY National Tax Practice Leader
CBIZ
9. #cbizmhmwebinar 9 Agenda Accounting Standards Updates 02 01
03 04 Year End Reminders Other Standard Setting Activity Federal
Tax Update
11. #cbizmhmwebinar 11 Financial Accounting Standards Board
Financial Accounting Standards Board 17 Accounting Standards
Updates issued in 2015 Majority are narrow scope or simplifications
Three major projects have been approved and are pending final
publication in early 2016 Outreach for the priorities of the FASB
is expected in early 2016
12. #cbizmhmwebinar 12 Income Taxes ASU 2015-17 Income Taxes
(Topic 740): Balance Sheet Classification of Deferred Taxes Income
taxes should be classified as noncurrent on the balance sheet
Simplifies accounting eliminating: Categorizing deferred tax assets
and liabilities based on the classification of underlying balance
sheet item Scheduling out the reversal of net operating loss
carryforwards
13. #cbizmhmwebinar 13 Income Taxes ASU 2015-17 Income Taxes
(Topic 740): Balance Sheet Classification of Deferred Taxes Retains
the requirements: Presenting all existing disclosures, including
the significant components of deferred tax assets and liabilities
Net deferred tax assets and liabilities by jurisdiction and tax
paying component Presenting current taxes payable/receivable
separately from deferred taxes
14. #cbizmhmwebinar 14 Income Taxes ASU 2015-17 Income Taxes
(Topic 740): Balance Sheet Classification of Deferred Taxes
Effective date: Public business entities: annual periods beginning
after December 15, 2016 (including interim periods) All others:
annual periods beginning after December 15, 2017 (interim periods
in the following annual period) Early adoption permitted at the
beginning of any interim or annual period Application may be either
prospective or retrospective
15. #cbizmhmwebinar 15 Accounting for Leases Drafting process
is complete, final standard expected in early 2016 Lessor
Accounting Fundamentally unchanged Distinction between direct
financing and sales type lease will be driven by 3rd party
involvement Selling profit on a sales-type lease is recognized
upfront Eliminates leveraged lease model
16. #cbizmhmwebinar 16 Accounting for Leases Lessee Accounting
All leases are capitalized (except those < 12 months) Finance
vs. Operating Leases Distinguish leases in a similar manner as
today Finance leases have income statement and cash flow statement
recognition similar to a capital lease today Operating leases have
income statement and cash flow statement recognition similar to an
operating lease today Separation of non-lease components Optional
by class
17. #cbizmhmwebinar 17 Accounting for Leases Other expected
changes New definition of a lease Implicit rate for discounting
lease payments Non-public business entities use the risk free rate
Intermediate lessor Eliminates the loss contract guidance Increased
disclosures Options, covenants, and similar contractual terms
Significant terms that have not commenced Significant
judgments
18. #cbizmhmwebinar 18 Accounting for Leases Effective date:
Public companies for annual periods beginning after December 15,
2018 (including interim periods) Including not-for-profit entities
that have issued, or are a conduit bond obligor for, securities
that are traded, listed, or quoted on an exchange or
an-over-the-counter market, and Employee benefit plan that files or
furnishes statements with or to the SEC All other entities for
annual periods beginning after December 15, 2019 (interim periods
in the following annual period) Early adoption is permitted
19. #cbizmhmwebinar 19 Accounting for Leases Transition
Modified retrospective Recognize right to use asset and lease
liability at the date of initial adoption Adjustments recognized
through equity Lessee transition elections not to assess: Whether
any expired or existing contracts are or contain leases Lease
classification for any expired or existing leases Initial direct
costs for any existing leases
20. #cbizmhmwebinar 20 Financial Instruments Classification
& Measurement Classification and measurement key points: All
equity securities measured at fair value except for equity method
investments Practicability exception Changes in fair value of
financial liability due to instrument specific credit risk
presented separately Fair value option is retained Enhanced
disclosures Adopted retrospectively
21. #cbizmhmwebinar 21 Financial Instruments Credit Impairment
Credit Impairment key points: Scope: financial assets measured at
amortized cost Excludes debt securities classified as
available-for-sale Requires a current expected credit losses (CECL)
model Expected credit losses over the life of a loan are recognized
when a loan is originated instead of as losses are incurred
Modified retrospective transition requiring a cumulative-effect
adjustment on initial adoption
22. #cbizmhmwebinar 22 Financial Instruments Effective Date
Financial Instruments Classification & Measurement Public
business entities for fiscal years beginning after December 15,
2017 (including interim periods) All other entities fiscal years
beginning after December 15, 2018 (interim periods in the following
annual period) Financial Instruments Credit Impairment Public
business entities (SEC filers) for fiscal years beginning after
December 15, 2018 (including interim periods) Public business
entities (non-SEC filers) for fiscal years beginning after December
15, 2019 (including interim periods) All other entities for fiscal
years beginning after December 15, 2019 (interim periods in the
following annual period) 22
23. #cbizmhmwebinar 23 Other FASB Activities Private Company
Council (PCC) FASB endorsed new effective date and transition
guidance Unconditional one time election to adopt an existing PCC
alternatives Allows entity to forgo the initial preferability
assessment Will extend the transition guidance for goodwill &
the simplified hedge approach Goodwill will be applied
prospectively from the date of adoption (i.e. no retrospective
application to original effective date)
24. #cbizmhmwebinar 24 Other FASB Activities Ratification of
EITF consensus Recognition of Breakage for Certain Prepaid Stored-
Value Cards Effect of Derivative Contract Novations on Existing
Hedge Accounting Relationships Contingent Put and Call Options in
Debt Instruments
25. #cbizmhmwebinar 25 FASB Exposure Drafts Fair Value
Disclosures Adding required disclosures of: the changes in
unrealized gains and losses included in other comprehensive income
or earnings for the period for all items measured at fair value
that are still held at the end of the period, and the weighted
average and range of significant unobservable inputs in Level 3
measurements and the period of time considered in the development
of the inputs (if applicable) Removing disclosures of: the amount
of and reasons for transfers between Level 1 and Level 2 of the
fair value hierarchy, and the related policy regarding the timing
of such transfers, and the valuation policies and procedures for
Level 3 fair value measurements
26. #cbizmhmwebinar 26 FASB Exposure Drafts Fair Value
Disclosures Disclosure of the timing of liquidation of an investees
assets and the date when restrictions from redemption will lapse
for investments measured at NAV Only required if the investee has
communicated the timing to the entity or announced the timing
publicly
27. #cbizmhmwebinar 27 FASB Exposure Drafts Definition of a
business Narrow the definition by requiring a business to have an
input and a substantive process Apply a screen so that the
definition does not apply to transactions where substantially all
of the fair value relates to a single asset or similar group of
assets Disclosure of government assistance Require disclosures of
assistance received from governmental agencies Would exclude
not-for-profit entities
28. #cbizmhmwebinar 28 OTHER STANDARDS-SETTING ACTIVITY
29. #cbizmhmwebinar 29 SEC Rulemaking FAST Act Addresses
several areas of securities law Directs the SEC to adopt a rule
explicitly permitting a summary in Form 10-K Funds study of how to
simplify disclosures Final Rules on Regulation A Tier 1: up to $20
million No continuous review or audited financials Tier 2: up to
$50 million Audited financials, semiannual reporting
30. #cbizmhmwebinar 30 SEC Rulemaking Intrastate Proposal Would
eliminate restriction that offers must be made to residents of the
state Increases qualifying raises up to $5 million Clawback
proposal No fault proposal Broad definition of incentive based
compensation Limited discretion on clawback at the Board level
31. #cbizmhmwebinar 31 SEC Rulemaking Consideration of S-X and
S-K Request for comment on effectiveness of financial disclosures
Eliminate redundant, overlapping or outdated disclosures Volume vs.
effectiveness Re-evaluate numeric thresholds and prescriptive rules
Update the search functionality of Edgar filings
32. #cbizmhmwebinar 32 New AP form filing requirement with the
PCAOB Engagement shareholders name Other audit participants Filings
due 35 days after the date of the auditors report Effective date
(once approved by SEC): Engagement shareholder disclosure: reports
issued on/after January 31, 2017 Other audit participants
disclosure: reports issued on/after June 30, 2017 32
33. #cbizmhmwebinar 33 33 AU 110 AU 161 AU 210 Etc. AS No. 1 AS
No. 3 AS No. 4 Etc. Interim Standards Board-Issued Standards
Reorganized Standards (AS Sections) PCAOB Reorganized
Standards
34. #cbizmhmwebinar 34 YEAR END REMINDERS
35. #cbizmhmwebinar 35 Discontinued Operations Effective for
calendar year end 2015 Discontinued operation requires a strategic
shift that has (or will have) a major effect on an entitys
operations and financial results Eliminates exceptions for equity
method investments and disposals with continuing involvement
Increases disclosure Additional reconciliations of assets and
liabilities classified as discontinued operations Includes
disclosures about disposals of individually significant components
that do not meet the definition of discontinued operations 35
36. #cbizmhmwebinar 36 Pushdown Accounting Permits an entity
that has been acquired to elect to push down into its separate
financial statements the step-up in basis of the acquirer that
results from (would have resulted from) the acquisition method of
accounting The election applies to each individual
change-in-control event, such as Cash transfers or issuance of
equity By contract Change in primary beneficiary of a variable
interest entity
37. #cbizmhmwebinar 37 Pushdown Accounting Other requirements:
Goodwill must be pushed down. Bargain purchase gains are not
recognized by the acquiree. Acquisition-related liabilities of the
acquirer are recognized by the acquiree if they are an obligation
of the acquiree. Effective for calendar year end 2015
38. #cbizmhmwebinar 38 Simplifying Inventory Measurement (ASU
2015-11) Inventory should be measured at the lower of cost or net
realizable value Replaces the current lower of cost or market
concept Net Realizable Value (Ceiling) Replacement Cost Net
Reliable Value less Normal Profit Margin (Floor) Market = If not
< If not > Effective beginning after 12/15/16 (Calendar
12/31/17) Early adoption is permitted
39. #cbizmhmwebinar 39 Inventory Measurement Net Realizable
Value the estimated selling price in the ordinary course of
business, minus the predicted cost of transportation and disposal
of the inventory The expected cost to complete is considered for
WIP Does not apply to LIFO or Retail inventory methods Transition
Prospective
40. #cbizmhmwebinar 40 Consolidation (ASU 2015-02) Modifies
variable interest entity (VIE) guidance Eliminates the voting
interest model for limited partnerships and similar entities
Reporting entities will need to re-evaluate their consolidation
decisions for VIEs, potential VIEs, limited partnerships and
similar entities. Effective Date: Public Business Entities: Periods
beginning after December 15, 2015 Nonpublic Entities: Annual
periods beginning after December 15, 2016 Early adoption is
permitted
41. #cbizmhmwebinar 41 Consolidation (ASU 2015-02) Significant
changes to the VIE guidance: Eliminates the deferral for interests
in investment companies Simplifies the evaluation of fees paid to
decision makers/service providers as variable interests (VI) Adds a
new condition for an entity to qualify as a VIE: Limited
partnership, or similar entities, are VIEs if a simple majority of
limited partners lack substantive kick-out or participating rights.
Changes to determining the primary beneficiary Fees paid to
decision maker/service provider that are customary and commensurate
are excluded from the economic criteria in determining the primary
beneficiary. Related-party rules were modified to reduce their
applicability by using proportionate weighting of indirect
relationships
42. #cbizmhmwebinar 42 Consolidation (ASU 2015-02) Significant
changes to the voting interest model: Eliminates the guidance that
a general partner of a limited partnership or similar entity is
presumed to consolidate Consolidation for limited partnerships will
follow the majority voting rights guidance A limited partner that
has unilateral kick-out rights will consolidate the limited
partnership entity if no other limited partner has substantive
kick-out or participation rights.
43. #cbizmhmwebinar 43 SSARS 21: Preparation of Financial
Statements AICPA guidance for accounting and review services
recodification Creates a new classification of service Preparation
of Financial Statements Lesser than a compilation The accountant
does not issue a report Effective for periods ending on or after
December 15, 2015
44. #cbizmhmwebinar 44 Attest Services Update (SSARS 21) Review
Engagements New report format
45. #cbizmhmwebinar 45 Attest Services Update (SSARS 21)
Compilation vs. Preparation of Financial Statements Preparation
engagements Non-attest service Engagement letter still required
Account includes a disclaimer on each page of the financial
statements No assurance is provided on these financial statements
Compilation engagements No significant change, remains an attest
service Accountant includes a report (new wording) We do not
express an opinion, a conclusion, nor provide any form of assurance
on these financial statements
46. #cbizmhmwebinar 46 FEDERAL TAX UPDATE
47. #cbizmhmwebinar 47 Committees and House Leadership House of
Representatives Speaker is former Ways and Means Chairman Paul Ryan
(R Wis.) Chairman Ways and Means: Kevin Brady (R Tex.) Senate Orrin
Hatch (R Utah), Chairman of Senate Finance committee
48. #cbizmhmwebinar 48 Protecting Americans from Tax Hikes Act
of 2015 (PATHA) Business Provisions Permanently Extended R&D
Tax Credit Beginning in 2016 tax years, eligible small businesses
(those with average annual gross receipts of $50 million or less)
may claim the R&D credit against alternative minimum tax (AMT)
liabilities, expanding the benefits first introduced in 2010. This
is especially important to individuals who are partners or
shareholders in S corporations that qualify as eligible small
businesses, as they also benefit from the favorable AMT
treatment.
49. #cbizmhmwebinar 49 Protecting Americans from Tax Hikes Act
of 2015 (PATHA) Business Provisions Permanently Extended Increased
179 Expensing Election The Section 179 immediate expensing election
had plummeted from $500,000 in 2014 to $25,000 in 2015. Businesses
with adequate taxable income can immediately deduct in 2015 and all
subsequent tax years up to $500,000 of qualified tangible property
(including off-the-shelf computer software). The Section 179
deduction begins to phase out when total qualified purchases for
the year exceed $2 million. Several enhancements to the Section 179
deduction take effect in 2016: The $250,000 cap on qualified real
property (consisting of qualified leasehold improvements, qualified
restaurant property and qualified retail improvement property) no
longer applies, Air conditioning and heating units will be eligible
property, and The $500,000 and $2 million limits both are indexed
for inflation.
50. #cbizmhmwebinar 50 Protecting Americans from Tax Hikes Act
of 2015 (PATHA) Business Provisions Permanently Extended 15-year
Straight Line Cost Recovery Qualifying property traditionally
depreciated over 39 years, now permanently can be depreciated over
15 years on a straight-line basis. Qualified leasehold
improvements, Qualified restaurant property and Qualified retail
improvement Improvements must be made to the interior of
non-residential real property more than three years after the
building was placed in service. Qualifying restaurant and retail
improvements can include improvements to owner-occupied or leased
space while qualifying leasehold improvements may only include
leased space (related party leases do not qualify).
51. #cbizmhmwebinar 51 Protecting Americans from Tax Hikes Act
of 2015 (PATHA) Business Provisions Permanently Extended Other
provisions 100 percent exclusion of gain from the sale of qualified
small business stock held by non-corporate taxpayers for more than
5 years Also, the gain will no longer be treated as an AMT
preference item Reduction of the recognition period for built-in
gains of S corporations from 10 to 5 years Basis adjustment to
stock of S corporations making charitable contributions of
appreciated property Enhanced charitable deduction for
contributions of food inventory Subpart F exception for active
financing income.
52. #cbizmhmwebinar 52 Protecting Americans from Tax Hikes Act
of 2015 (PATHA) Business Provisions Extended Through 2019 Bonus
Depreciation Taxpayers can once again elect to take additional
first-year (bonus) depreciation on qualifying asset purchases The
bonus depreciation percentage, however, decreases in the later
years as follows: Year Placed in Service Bonus Depreciation
Percentage 2015 50% 2016 50% 2017 50% 2018 40% 2019 30%
53. #cbizmhmwebinar 53 Protecting Americans from Tax Hikes Act
of 2015 (PATHA) Business Provisions Extended Through 2019 Bonus
Depreciation Qualifying assets generally include new tangible
personal property, off-the-shelf computer software and qualified
leasehold improvements. Qualified restaurant or retail property do
not qualify for bonus depreciation unless the property also meets
the definition of qualified leasehold improvements. PATHA also
reinstates the corresponding election to accelerate AMT credits in
lieu of claiming bonus depreciation, increasing the amount of AMT
credits that can be claimed beginning in 2016
54. #cbizmhmwebinar 54 Protecting Americans from Tax Hikes Act
of 2015 (PATHA) Business Provisions Extended Through 2019 Work
Opportunity Tax Credit (WOTC) Incentive for employers to hire
workers in certain targeted groups that have a high rate of
unemployment. While it can vary by targeted group and number of
hours worked, the credit generally is equal to 40 percent of the
eligible employees wages up to $6,000 PATHA also expands the
targeted groups by adding qualified individuals who have been
unemployed for 27 weeks or more(a $2,400 credit) Other provisions
New markets tax credit Look-through treatment for certain payments
between related controlled foreign corporations (CFCs).
55. #cbizmhmwebinar 55 Protecting Americans from Tax Hikes Act
of 2015 (PATHA) Business Provisions Extended Through 2016 Energy
efficient commercial buildings deduction Several other energy
incentives Several incentives targeted at specific industries, such
as the railroad, mining, horse racing, motorsports entertainment
and film and television industries
56. #cbizmhmwebinar 56 Protecting Americans from Tax Hikes Act
of 2015 (PATHA) Individual Provisions Provision Extension Up to
$100,000 tax-free distribution from IRAs for charitable purposes by
taxpayers age 70 or older Permanent Deduction for state and local
sales taxes Permanent Enhanced American opportunity tax credit for
higher education expenses Permanent $250 above-the-line deduction
for teacher classroom expenses Permanent Exclusion for employer
provided mass transit and parking benefits Permanent Enhanced
refundable child tax credit (not indexed for inflation) Permanent
Enhanced earned income tax credit Permanent Charitable deduction
for contributions of real property for conservation purposes
Permanent Above-the-line deduction for tuition and fees Through
2016 Exclusion of cancellation of indebtedness (COD) income from
the discharge of qualified personal residence indebtedness Through
2016 Deduction for qualified mortgage insurance premiums Through
2016
57. #cbizmhmwebinar 57 New Partnership Audit Rules (Effective
2018) 2014 GAO report: IRS audited less than 1 percent of the 2012
income tax returns of large partnerships (i.e., those with greater
than $100 million in assets), essentially the same audit rate as
individual income tax returns. By contrast, over 27 percent of
large C corporations were audited. The disparity in the audit rates
is caused by the increased burden on the IRS when auditing
partnerships under the current TEFRA rules, where the audit
adjustments are assessed against the individual partners of the
partnership. The assessment of an adjustment against a C
corporation simply is made against one taxpayer the corporation.
The new legislation attempts to ease the administrative burden for
both the IRS and taxpayers by simplifying the administrative
procedures of conducting a partnership examination
58. #cbizmhmwebinar 58 New Partnership Audit Rules (Effective
2018) Applies to all partnerships, except for certain qualifying
partnerships that affirmatively elect out of the new rules for that
particular tax year. New terms: If the IRS determines that
adjustments are required for the partnership tax year (the
"reviewed year"), the partnership is required to pay any "imputed
underpayment" with respect to the adjustment in the year in which
the adjustment is finalized (the "adjustment year"). The imputed
underpayment is generally determined at maximum corporate or
individual rate
59. #cbizmhmwebinar 59 New Partnership Audit Rules (Effective
2018) An adjustment that results in an overpayment generally is
taken into account by the partnership in the adjustment year This
may create a disparity because this treatment appears to treat the
adjustment as ordinary income, regardless of its original
character. Generally speaking, audit adjustments of income, gain,
loss, deduction, or credit of the partnership will be applied at
the partnership level. Accordingly, the assessment and collection
of any taxes, interest, and penalties relating to an adjustment
also will be applied at the partnership level. Each partnership
that does not elect out of the new regime to designate a partner as
the partnership's representative.
60. #cbizmhmwebinar 60 New Partnership Audit Rules (Effective
2018) A partnership can elect out of the new rules for a tax year
if: The partnership issues 100 or fewer Schedule K-1s for the tax
year For partners that are S corporations, the number of Schedule
K-1s issued by the S corporation partner to its shareholders counts
toward the "100 or fewer Schedule K-1s" requirement The election
must be made by the partnership no later than 45 days after the
date of the notice of final partnership adjustment ("NFPA")
61. #cbizmhmwebinar 61 New Partnership Audit Rules (Effective
2018) The IRS required to provide a mechanism whereby partners
(instead of the partnership) who were partners in the year to which
the changes relate (the reviewed year) can pay their share of the
tax deficiencies by amending past returns. Beneficial if the
partner's tax liability is less than his share of the partnership's
deficiency. Partnership must pay the imputed underpayment amount by
the due date of the partnership's tax return (without regard to
extensions of time to file) for the adjustment year. No deduction
is allowed to the partnership for the payment of such imputed
underpayment amount. Current partners bear burden of past years
unless partnership elects out, regardless of whether the current
partners are the same as the partners in the reviewed year. To help
alleviate this disparity, partnership can elect to furnish to each
partner in the reviewed year a statement of the partner's share of
the adjustment
62. #cbizmhmwebinar 62 De Minimis Safe Harbor Final Tangible
Property Regulations allowed qualifying businesses to elect to
immediately deduct purchases of tangible property below certain
dollar thresholds Taxpayers with an applicable financial statement
(AFS), typically an audited f/s: $5000 per invoice or item
Taxpayers without AFS: old rules, $500 per invoice or item Now, for
these smaller taxpayers, safe harbor amount increased to $2,500
Beginning with the 2016 tax years
63. #cbizmhmwebinar 63 Affordable Care Act Update: Delayed
Reporting Obligations IRS requires employers to report annually or
face significant penalties (penalties are waived for 2015 if good
faith effort to comply is demonstrated) Form 1094-C. Requests
identifying information about applicable large employer Aggregated
group, number of 1095-C forms, type of coverage Requires a
month-by-month tally of whether Minimum Essential Coverage was
offered Form 1095-C. Reports information about each employee
Determines eligibility for premium tax credits Provided to each
employee included in the report Filing Deadlines: IRS has provided
relief in delaying the above Forms Forms filed with IRS by 5/31/16
(6/30 if electronically filed) Employees provided a copy of 1095 by
3/31/16 First filings required in 2016 for 2015 calendar year
employers
64. #cbizmhmwebinar 64 ? QUESTIONS
65. #cbizmhmwebinar 65 If You Enjoyed This Webinar Upcoming
Courses: 1/26, 1/27 & 1/28: Eye on Washington: Quarterly
Business Tax Update, Q4 2015 Related Publications: Alabama DOR
Adopts Factor Presence Nexus for Sales Tax Invest in Specialty
Skills and Other Tips for Internal Audit Planning Ohio Proposed
'Internet Nexus Tennessee Issues Preliminary Regs on Market-Based
Sourcing Refund Opportunity: Pennsylvania Court Deems NOL Caps
Unconstitutional Iowa Follows Kansas in Adopting Wynne New York
Issues Proposed Market-Based Sourcing Regulations Alabama and New
Hampshire Add Tax Amnesty Programs
66. #cbizmhmwebinar 66 Connect with Us linkedin.com/company/
mayer-hoffman-mccann-p.c. @mhm_pc youtube.com/ mayerhoffmanmccann
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