NSAC Happenings and Latest News - Page 20
IRS Issues Procedures for Employee Status Determinations
The IRS issued procedural guidance regarding determinations by the Service that a worker is properly classified as an employee of an employer rather than an independent contractor. The distinction carries significant employment law and tax ramifications. The latter include that a person for whom services are performed must withhold from employees' wages and remit employment taxes (generally, Social Security or Railroad Retirement, Medicare, and ...
Read More.png)
NSAC Announces Greg Taylor as New TCA ACCTFAX Editor
The National Society of Accountants for Cooperatives (NSAC) is pleased to announce Greg Taylor as the new TCA ACCTFAX Editor. Greg has extensive experience in supervising audit engagements of agribusiness and cooperative entities, and has been a member of NSAC since 1993.
Read MoreTips for Recruiting and Retention in a 'Great Resignation' World
A year ago, accounting firms were able to weather the unprecedented storm of 2020, often making large-scale adjustments on the fly, to keep the profession running successfully. However, a new challenge awaited on the other side: The Great Resignation. Firm leaders and industry consultants share their strategies on how to keep talent after professionals reassessed their careers in 2021. Deep connections Our firm leaders communicate and build ...
Read MoreIt May Be Time to Reconsider That Noncompete Agreement
Federal regulators are cracking down on hiring practices that restrict employees’ wages and ability to work for competitors. Here’s what companies should know. These days, with the Great Resignation peeling off workers right and left, companies may be tempted to get creative in how they retain employees. But some popular strategies can land firms in legal hot water. Regulators are increasingly taking aim at agreements that restrain ...
Read MoreCompanies Urged to Bolster Defenses Against 'Triple Threat'
U.S. businesses need to institute stronger safeguards against potential corporate losses resulting from fraud, compliance breaches, and cyberattacks. That's the overriding message of KPMG's 2022 Fraud Outlook report, A Triple Threat Across the Americas. Two-thirds of U.S. executives surveyed by KPMG said that their companies have experienced external fraud in the past 12 months, but just 35% of those companies have a program in place to ...
Read More