RSM previously issued a tax alert about the recent changes in IRS procedures with regards to the new verification process when authenticating third party representatives who are contacting the IRS’ practitioner priority service (PPS) line on behalf of their clients. The prior tax alert was based on RSM’s experiences when dealing with the PPS line….

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Virtually all entities will be affected to some extent by the new revenue recognition guidance (ASU 2014-09), Revenue from Contracts with Customers (Topic 606) – even nonprofit organizations. Read more in the following RSM guidance. http://rsmus.com/pdf_download/wp_changes-for-nfp-revenue-recognition.pdf

Faced with differing standards for investment advisers and brokers, the SEC is preparing a consistent standard for both. SEC chair Walter Clayton has said that clarity and consistency are key to regulating areas supervised by more than one agency. This appears to be a key priority for the SEC chairman. Clayton’s work on the fiduciary…

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