Regulatory Alerts (All)
Must-Know Federal and State Fundraising Rules and Regulations for Non Profits
Are you registered in each state where you fundraise? The majority of states and the District of Columbia require charitable nonprofits and/or professional fundraising consultants (sometimes referred to as “solicitors”) to register with the state before engaging in fundraising activities in that state. Charities that solicit contributions in more than one state, on the internet, […]
Health Center Compliance with the Federal 340B Program
The Federal 340B Program has detailed compliance requirements and participants are struggling to understand, comply with, and monitor these requirements. Scrutiny by the Health Resources Services Administration (HRSA) had been mainly focused on for profit hospital environments; however, the focus is now shifting towards Health Centers and contracted pharmacies. HRSA along with the Office of […]
2014 Year-End Tax Planning Guide for Individuals and Businesses
AAF is pleased to provide you with detailed tax planning guides that we know you will find helpful in navigating the numerous tax updates taking effect in 2015! Our Guide for Individuals is 29 pages in length and our guide for Businesses is 19 pages in length. If you have not done so already, there […]
Congress Passes Tax Extender Legislation
Update 12/22/14: Since this post was first published, President Obama has signed the items discussed below into law. Congress has passed, and sent to President Obama for signature, a bill (Tax Increase Prevention Act of 2014) extending a number of tax provisions that had expired on December 31, 2013. The bill restores a number of […]
IRS Announces Adjustments Affecting Retirement Plans
The Internal Revenue Service recently announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2015. These adjustments affect anyone contributing to a retirement plan account, and to fiduciaries and administrators of retirement plans. The chart linked below can help you determine where you fall within the […]
Significant changes announced to IRA rollover rules
The IRS announced changes to the rollover rules relating to Individual Retirement Accounts (IRAs) as a result of a recent Tax Court case (Bobrow v. Commissioner). Prior to the Court’s decision, an individual could take cash distributions from multiple IRAs and obtain tax free rollover treatment so long as the funds were rolled over to […]
2014 Uniform Financial Reporting Requirements
On August 28th, AAF held a UFR Update webinar for more than 80 registered viewers. Our presenter, Robin Kelley, CPA, provided the participants with an update of the impact of Chapter 257 on the UFR and the new reporting requirements as well as discussion of risk areas and surplus revenue retention management. If you missed the webinar, […]
2014 UFR Update
Good news to share! The 2014 UFR Preparation Manual was released yesterday and, after much consideration, the Commonwealth of MA, Executive Office of Health and Human Services (EOHHS) decided to allow providers to combine programs that have the same program code this year and not require you to separate non Chapter 257 funded costs from […]
June Tax Reminder: Estimated Tax Payments & Foreign Bank Account Reporting
June is traditionally viewed as a mid-point between the original and extended due dates for filing business, fiduciary, and individual tax returns. However, there are two significant dates that warrant attention. Estimated Tax Payments June 15 is the date for making 2nd quarter estimated tax payments for corporations with calendar year ends, fiduciaries,and individuals. Because […]