Secure 2.0 Act of 2022 Introduces Key Changes for Workplace Retirement Plans The Consolidated Appropriations Act, 2023 (Public Law No. 117-328) that was signed into law on December 29, 2022 by President Joe Biden includes the SECURE 2.0 Act of 2022, which introduces over 90 changes to the federal rules governing workplace retirement plans. This…
By Matt Cromwell In September 2020, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2020-07 Not-For-Profit Entities (Topic 958): Presentation and Disclosures by Not-For-Profit Entities for Contributed Nonfinancial Assets. The intent of ASU 2020-07 is to provide enhanced transparency related to the presentation and disclosure of contributed nonfinancial assets. These enhancements will allow…
By David Clark and Jackie Bernal On Jan. 14, 2021, just one week before the end of his term in office, former President Trump signed National Security Presidential Memorandum 33 (NSPM-33) to “direct actions to strengthen protections of the United States Government-supported Research & Development (R&D) against foreign government interference and exploitation.” NSPM-33 was formally…
Shuttered Venue Operators Grant (SVOG) Updates The Small Business Administration (SBA) has updated the SVOG Post-Application Guidance and the Post-Award Frequently Asked Questions. These documents apply to both non-federal entity recipients (these include nonprofit entities, state and local governments and Native American tribes, and institutions of higher education) and for-profit recipients. Included in the updates made by SBA…
President Biden signed the Inflation Reduction Act into law at a White House ceremony on August 16, finalizing a legislation intended to address inflation by paying down the national debt, lower consumer energy costs, provide incentives for the production of clean energy, and reduce healthcare costs. The bill moved through the legislative process in near-record…
With great enthusiasm, the Sassetti Partners want to announce the admission of Izabela Poludniak to partnership. Over her fourteen years with Sassetti, she has helped us grow strategically through her dedication to client service, technical know-how, leadership and staff development. She is a wonderful asset to the Sassetti team and we are excited for her to…
The IRS has issued guidance to employers on year-end reporting for sick and family leave wages that were paid in 2021 to eligible employees under recent federal legislation. IRS Notice 2021-53, issued on September 7, 2021, provides that employers must report “qualified leave wages” either on a 2021 Form W-2 or on a separate statement,…
By Barbara Finke, CPA Are you tired of the “new normal,” logging into yet another virtual meeting and hoping your internet will hold out for your key presentation? Or do you love being remote so much that you’ve thrown out all your business pants and shoes, replacing them with loungewear and comfy socks? Either way,…
Technology has forever changed the way we communicate – and will likely do so many times over in our lifetimes. While it has made most facets of communication easier, a challenge remains: maintaining the value of person-to-person interaction. In my earlier days as a professional, communication seemed easy; if I needed a document from the…