Novak Francella
Novak Francella

CARES and Family First Acts provide potential relief for Unions

Published March 31, 2020

The Coronavirus Aid, Relief, and Economic Security (CARES) Act and the Families First Coronavirus Response Act both provide potential relief for nonprofit associations.

We are still awaiting important details on the many provisions of the Acts, but we wanted to provide a summary of some of the programs which will be of interest to our Union clients. We will update this bulletin as additional information becomes available.

Update for Union Clients

What is Peer Review and Why Is It Important

Organizations and individuals around the country rely on audit reports issued by CPA firms. When a CPA firm signs an audit report, they are certifying that they have done what is required by generally accepted auditing standards in order to issue that report. But who checks up on the CPA firm to make sure they […]
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PBGC Premium Filing Due Date Change for 2025 Plan Years

PBGC Premium Filing Due Date Change for 2025 Plan Years - premiums are due one month earlier than usual On January 6, 2025, the Pension Benefit Guaranty Corporation (PBGC) issued Technical Update 25-1, providing important guidance to sponsors of PBGC-covered1 single-employer and multiemployer defined benefit (DB) plans regarding the change in the timing of PBGC […]
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IRS Announces New Pilot “Pre-Audit” Compliance Program for Retirement Plans

IRS launched a pilot pre-audit program for retirement plans. Plans get 90 days to self-review and correct issues using EPCRS. If they respond, IRS may agree or conduct further examination. If not, full audit follows. Program aims to reduce burden and IRS exam time. Full details pending.
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