Government Entities

What’s in the Fiscal Responsibility Act?

June 15, 2023

President Biden has signed into law the new debt ceiling agreement that he reached with U.S. House of Representatives Speaker Kevin McCarthy (R-CA). The Fiscal Responsibility Act (FRA) suspends —…

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Social Security’s Future: The Problem and The Proposals

May 16, 2023

Recent reports have raised anew concerns about the impending insolvency of the Social Security program, absent congressional action. Social Security reform has long been considered a “third rail” of American…

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SBA Roundtable Discussion – Tips for Preparing Your Extraordinary Aid Application

May 2, 2023

Nisivoccia hosted an SBA Roundtable discussion for our School Board clients on Thursday, April 27, where Kathi Mantell, Caitlin Orton, and Sheryl Leidig with Wayne Public Schools presented on Tips…

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IRS Guidance Coming Regarding the IRA’s Clean Vehicle Credit

April 20, 2023

The Inflation Reduction Act (IRA) extended and expanded the Section 30D Clean Vehicle (CV) Credit, previously known as the Electric Vehicle (EV) Credit. The credit now covers “clean vehicles,” which include…

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CMFO Roundtable Webinar Recording- March 31, 2023

April 5, 2023

Watch a full recording of our CMFO Roundtable hosted by Bud Jones, Jon Rheinhardt, and John Mooney on Friday, March 31, 2023. We were pleased to welcome our presenters to…

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President Biden’s Proposed 2024 Budget Includes Notable Tax Provisions

March 28, 2023

President Biden has released his proposed budget for the federal government for the 2024 fiscal year. The budget, which aims to cut the deficit by nearly $3 trillion over 10 years, includes numerous…

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2023 Q2 Tax Calendar: Key Deadlines for Businesses and Employers

March 17, 2023

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2023. Keep in mind that this list isn’t all-inclusive, so…

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5 Major Tax-Favored Retirement Plan Changes for Individuals under New Law

March 15, 2023

After months of negotiations, Congress finally passed the long-awaited Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0). This part of the omnibus funding package builds on the…

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U.S. Supreme Court Rules Against the IRS on Critical FBAR Issue

March 13, 2023

The U.S. Supreme Court recently weighed in on an issue regarding a provision of the Bank Secrecy Act (BSA) that has split two federal courts of appeal. Its 5-4 ruling…

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Employers: In 2023, the Social Security Wage Base is Going Up

January 26, 2023

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $160,200 for 2023 (up from $147,000 for 2022). Wages and self-employment income…

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