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Possible Delay to April 15 Tax Deadline

Posted 5:23 PM by
Last night, President Trump announced that he will instruct the Treasury Department to allow certain individuals and businesses negatively impacted by coronavirus to defer tax payments beyond the April 15 deadline. Currently, there are no further details available, but rest assured that we are monitoring the situation.
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Workshop for ESOP Internal Trustees

Posted 3:00 PM by
Andy Manchir, director in Katz, Sapper & Miller’s Valuation Services and ESOP Services groups, will present at the National Center for Employee Ownership 2020 Employee Ownership Conference. Taking place April 21-23 in Minneapolis, MN, the conference will bring together professionals from employee-owned businesses to learn technical skills, generate new ideas in expert-led sessions, and learn from peers through extensive networking opportunities.
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Ben Phillips Joins KSM as Director in SOC Services Group

Posted 8:30 PM by
Katz, Sapper & Miller is pleased to announce Ben Phillips has joined the firm as the newest director in its SOC Services Group.
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KSM Named One of Indiana’s “Best Places to Work” for 15th Consecutive Year

Posted 2:30 PM by
KSM is honored to be named among the Best Places to Work in Indiana for the 15th consecutive year. Based on employer reports and comprehensive employee surveys, this distinction is awarded by the Indiana Chamber of Commerce. In addition to being a repeat Hall of Fame recipient, KSM is one of only two companies in the state of Indiana to have been named a Best Place to Work every year since the program’s inception.
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Changes to Manufacturing Lease Accounting

Posted 3:45 PM by
Most manufacturers, wholesalers, and distributors lease operating facilities or equipment, whether from a third party or a related party. That means nearly all of these businesses will be impacted by the Financial Accounting Standards Board’s (FASB) update to the accounting standards for leases under generally accepted accounting principles in the United States (GAAP). The updated standards, which will take effect for private companies for fiscal years beginning after Dec. 15, 2020, will affect both lessors and lessees.
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IRS Updates Business Meals and Entertainment Guidance

Posted 6:45 PM by
On Feb. 21, the IRS released proposed regulations on the treatment of meals and entertainment expenses based on the modifications imposed when the Tax Cuts and Jobs Act (TCJA) was passed into law. The proposed regulations primarily serve to reinforce and clarify the rules previously established in the TCJA and IRS Notice 2018-76. This article addresses some of the key provisions and considers the impact on businesses.
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Accounting Updates for Government Entities: GASB Statement No. 87, Leases

Posted 6:30 PM by
The Governmental Accounting Standards Board (GASB) has created a single approach to accounting for and reporting of leases with the issuance of GASB Statement No. 87, Leases (Statement 87). State and local governments should expect Statement 87 to have a significant impact on their financial statements.
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Blish to Speak at Indiana Medical Group Management Association Revenue Cycle Conference

Posted 3:30 PM by
David Blish, director in Katz, Sapper & Miller’s Healthcare Resources Group, will present at the Indiana Medical Group Management Association (IMGMA) Revenue Cycle Conference - Evansville. The conference will take place March 11 in Evansville, IN.
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Proposed Accounting Standards Update - In-Kind Contribution Reporting

Posted 1:45 PM by
The Financial Accounting Standards Board (FASB) has issued the Proposed Accounting Standards Update Not-for-Profit Entities (Topic 958): Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets (Exposure Draft), which would impact the presentation and disclosure of contributed nonfinancial assets, also known as gifts-in-kind (in-kind donations), if the proposed changes are finalized.
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Complying With the Often Misunderstood International Boycott Reporting Requirements

Posted 3:45 PM by
The Internal Revenue Code, while primarily used to generate tax revenue for the government, is often used to incentivize or penalize various U.S. policy decisions. Section 999 is one such section that is driven by broader U.S. policy goals.
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