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Insights & Resources • Filed under The IRS has announced its intention to remove the controversial partnership basis-shifting regulations that just took effect on January 14, 2025. The result will be that partnership basis adjustments involving related parties and identified as potentially abusive will no longer be treated as “covered transactions” subject to disallowance rules….

Insights & Resources • Filed under As we settle into 2025, the cyber threat landscape has grown not just more sophisticated, but more interconnected. The latest Verizon Data Breach Investigations Report (DBIR) paints a complex picture, revealing that data breaches are no longer just a product of internal failings or direct hacks. Increasingly, third-party vulnerabilities, automation and organizational…

Insights & Resources • Filed under State and local tax laws are constantly evolving, creating challenges for businesses trying to stay compliant. The SALT Brief is a regularly updated resource that highlights key legislative changes, regulatory updates and policy shifts across the US. Table of Contents April 2025 Edition SALT Cap Update Senate Republicans are…

Insights & Resources • Filed under In July 2023, Oregon introduced a research and development (R&D) tax credit specifically aimed at supporting the semiconductor industry. Effective January 1, 2024, this incentive is available to qualifying companies conducting semiconductor research within the state and will remain in place through January 1, 2030. This development marks the…

Insights & Resources • Filed under Access reviews can be difficult to coordinate and manage, consume significant time for all parties involved, and occasionally not be executed at all. However, access reviews are a critical control across many compliance frameworks, including SOX, PCI DSS, ISO 27001, SOC 2, HITRUST, NIST 800-53 &171, HIPAA, GDPR and more….

Insights & Resources • Filed under Technology companies who sell access to software or platforms via the Internet such as software-as-a-service (SaaS), platform-as-a-service (PaaS) or infrastructure-as-a-service (IaaS)) are generally on the cutting edge of business and have become intertwined with almost every industry. As a result, most technology companies have customers across the United States….

Insights & Resources • Filed under Over the past few years, environmental, social and governance (ESG) sustainability disclosures have shifted from a nice-to-have to a business imperative. While sustainability reporting was once largely voluntary, the regulatory landscape is rapidly catching up with stakeholder expectations, and companies are under growing pressure to elevate the quality, consistency…

Insights & Resources • Filed under Generally, employee benefit plans with 100 or more participants are required to have an audit performed annually in conjunction with the filing of their Form 5500. If you are undertaking an employee benefit plan (EBP) audit, there are several questions you should ask to ensure that the audit firm…

Insights & Resources • Filed under Material weaknesses (MWs) in internal controls over financial reporting (ICFR) rarely develop overnight. They often follow a predictable lifecycle, starting as minor cracks in internal controls that degrade over time. Alternatively, a perfect storm of issues can develop into a full-blown material weakness throughout one audit cycle. In the…

Insights & Resources • Filed under As cyber threats become more sophisticated and regulatory requirements more stringent, companies, especially mid-market, must take a proactive approach to security. Choosing the right cybersecurity framework is a critical step in protecting sensitive data, maintaining compliance and building trust with customers, investors and regulators. However, with so many frameworks…