New Rules for Auditor Communications with Boards
The AICPA has issued a new rule, SAS 114 that expands the items an auditor is required to communicate to the board of directors (or other governing body). For more, click here.

IRS Warns of Email and Phone Scams
Taxpayers beware. The IRS warns taxpayers to be cautious of suspicious e-mails or phone calls claiming to be from the IRS involving proposed advance payment checks. For more, click here.

FIN 48 Deadline Postponed for Private Companies. On November 7, 2007, FASB voted to delay the effective date of FASB Interpretation No. 40, Accounting for Uncertainty in Income Taxes (FIN 48), for private companies until after December 15, 2007. 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

Increasing employee participation in a 401(k) plan can be a difficult challenge for employers. Recent guidance, released last summer, makes it easier for an employer to automatically enroll employees in the company's 401(k) plan. For more, click here.