NEWS

Final regs. loosen 401(k) hardship distribution requirements

The IRS issued final regulations governing hardship distributions from Sec. 401(k) plans, eliminating the requirements that participants obtain a loan from the plan if available and that suspend participants’ ability to make contributions to the plans for six months after taking a hardship distribution.

7 tips for adopting integrated reporting

As more companies latch on to the importance of long-term value creation, the International Integrated Reporting Council is offering them advice for producing integrated reports.

IRS offers expatriate tax relief

The IRS announced procedures to allow certain individuals who have renounced their U.S. citizenship to get into compliance with their US tax obligations and obtain relief for back taxes.

7 in 10 young workers prefer freedom to job security

Seventy percent of young adult job seekers say the freedom of being their own boss is worth more than the benefit of job security working for someone else, according to research conducted by MAVY Poll on behalf of the AICPA.

Proposed regs. govern maximum automobile values

The IRS issued proposed rules that provide maximum automobile values for the cents-per-mile and fleet-average valuation rules used to determine the amount to include in an employee’s gross income for personal use of an employer-provided vehicle.

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In focus: Payroll

Providing payroll services that comply with ever-changing regulations and meet evolving employee and employer demands is no easy task. Paychex's Tom Hammond discusses common payroll considerations for CPA firms.