›HEADLINES

AMT Relief and More. Included in the recent financial bailout package are some substantial tax changes affecting individuals, corporations, and businesses. For more, click here.

COLLEGES AND UNIVERSITIES: Understanding the Impact of Voice over Internet Protocol (VoIP). A 2008 survey conducted by ACUTA, the Association for Communications Technology Professionals in Higher Education indicates that a growing number of colleges and universities have signed on to VoIP technology. More than half the schools surveyed (62 percent) said that they plan to expand their VoIP networks within the next 18 months, while another 14 percent had long-term plans, which means that fully three-quarters of schools that have begun the transition to VoIP are planning to expand usage of the application on their campus in the coming months and years. For more, click here.

Section 409A Deadline Extended Once Again. The Treasury Department and IRS issued Notice 2007-86 extending the Section 409A general transition relief deadline. For more, click here.

IRS resumes issuing taxpayer delinquency investigation notices for Forms 5500 and 5500EZ. Taxpayer delinquency investigation notices will be mailed to employers that have failed to timely file Forms 5500 and 5500EZ for plan year ending December 31, 2004. For more, click here

Higher Education: EACUBO 2008
We hope to see you at our booth in Toronto on October 26th and 27th, 2008. Check out our postcard for more information.

An opportunity for a tax deduction in manufacturing, some construction and certain other production activities occurring in the U.S.
Read more.

Use-It or Lose-It
Your cafeteria plan could become even better! The “use-it or lose-it” rule affecting benefits an employee receives under the flexible spending account portions of the plan (i.e., medical and dependent care reimbursement accounts) has been modified. Read more about the Cafeteria Plan rule modification here.

Are you considering using derivative contracts to hedge business risks?
Go here for more.