- The repair and maintenance regulation update in Baker Tilly’s 2015 midyear tax letter provides clarification on the deduction and capitalization of expenditures related to tangible property for landlords.
- The BEA has extended the deadline to file a BE-10, Benchmark Survey of US Direct Investment Report Abroad to June 30, 2015 for US businesses with fewer than fifty foreign affiliates and for new filers.
- The US Department of Labor (DOL) issued a report on its inspection of 2011 employee benefit plan audits, Assessing the Quality of Employee Benefit Plan Audits. The report is quite troubling as the DOL found a deficiency rate that is too high for such an important element of the system to protect participants in employee benefit plans.
- Independent Baker Tilly International member firms, Baker Tilly in the US and Collins Barrow in Canada, provide individuals and business insight into tax considerations when doing business across the border
- Under the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA), the Consumer Financial Protection Bureau (CFPB) will require lenders to provide new disclosures and meet new regulations on August 1, 2015.
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