IRS Affordable Care Act Website The site explains tax benefits and responsibilities for individuals, employers and other organizations as well as information about tax provisions and their effective dates. Visit the IRS website
Late S Corporation Election Relief The IRS consolidated the procedures and simplified the methods for taxpayers to request relief from late S corporation elections, ESBT elections, QSST elections, QSub elections and corporate classification elections. These procedures are generally effective as of 9/3/13. Click here for more information
New PA Revenue IDs The Pennsylvania Department of Revenue (DOR) has assigned new 10-digit Revenue IDs (also known as Corporate Account/Box Numbers) to all businesses subject to PA corporate taxation/reporting. These numbers, which replace the old/existing 7-digit IDs, are reported on page 1 of PA’s Form RCT-101 Corporate Tax Report. Link to the PA DOR e-alert for additional information:PA-Tax-IDs
Update on Non-GAAP Reporting Framework for SMEs The AICPA has introduced the Financial Reporting Framework for Small- and Medium-Sized Entities to help the small business community with its financial reporting needs. Link to the AICPA website for additional information:FRF-SMEs-Framework
GYF Honors and Recent Events
Bob Grossman and Melissa Bizyak of the GYF Business Valuation Services Group have presented several CLE seminars to attorneys on the topic of Employee Stock Ownership Plans. To view these materials and those from other seminars, visit the library section of this website.
On October 9, Bob Grossman gave a presentation to the ACFE on the topic of Economic Damages: Lost Profits Determinations.
Bob Grossman and Melissa Bizyak were presenters at the NACVA National Business Valuation Conference held in Washington, D.C. in June. At the conference, Bob was honored by NACVA as a "2012 Instructor of Exceptional Distinction."
Bob Grossmanwas honored with the Thomas R. Porter Lifetime Achievement Award, presented by the National Association of Certified Valuators and Analysts (NACVA). Click to read more