800,000 Taxpayers Received Wrong Tax Info from Health Insurance Marketplace
A recent article by Accounting Today notes - "Approximately 800,000 taxpayers who received health care coverage through the federal insurance marketplace Healthcare.gov were sent the wrong information on their Form 1095-A and are being urged to wait to file their taxes until the first week of March .....
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GASB Releases Two Preliminary Views Documents
Leases and Financial Reporting for Fiduciary Responsibilities The Governmental Accounting Standards Board (GASB or the "Board") recently issued for public comment two Preliminary Views (PV) documents. The first, Leases, includes proposals to improve the accounting and financial reporting for leas.....
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Congress passes tax extenders including bonus depreciation and more
Congress has approved the Tax Increase Prevention Act of 2014 (HR 5771). The new law extends so-called "tax extenders" retroactively for one year (through 2014). It also includes the Achieving a Better Life Experience (ABLE) Act, creating tax-favored savings accounts for individuals with disabilitie.....
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GFOA Issues Best Practice
Actuarial Audits The Government Finance Officers Association (GFOA) has recently issued a GFOA Best Practice entitled Actuarial Audits approved by the Executive Board.  The GFOA believes that due diligence requires that pension plan fiduciaries and plan sponsors exercise prudence in selecting serv.....
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IRS Increases contribution limits on 401(k) and other plans
The IRS has announced Cost-of-living adjustments (COLAs) that will favorably affect certain dollar limitations and other retirement-related provisions for most 401(k), 403(b), 457, and Pension Plans.  In general, the limitations will change beginning in 2015. For 2015, the employee contribution .....
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