Regulatory Alerts (All)
AAFCPAs highlights key items new to Head Start eligibility standards
In March, 2015, the Office of Head Start, an office of the U.S. Department of Health and Human Service (HHS), Administration for Children and Families, issued updated performance standards for Head Start programs. AAFCPAs reminds our clients that the updated standards will be utilized in Head Start monitoring visits beginning October 1, 2015. AAFCPAs offers […]
Reminder: FASB Defers Revenue Recognition Standard
In response to feedback from stakeholders, preparers, practitioners, and users of financial statements, in August 2015, the FASB approved a one-year deferral of the effective date of Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. The effective date of Update 2014-09 has been deferred for all entities by one year. Public business […]
Are you ready for ICD-10?
What is ICD?The International Classification of Diseases (ICD) is the standard diagnostic tool for epidemiology, health management and clinical purposes. ICD is used by physicians, nurses, other providers, researchers, health information managers and coders, health information technology workers, policy-makers, insurers and patient organizations to classify diseases and other health problems. ICD, published by the World […]
EOHHS 3.75% Payment Contracts: AAFCPAs advises on where and how to record quarterly payments
Human & social services providers who do not yet have a regulation establishing a rate of payment for certain social services programs are now beginning to receive their expected quarterly payments from the Executive Office of Health and Human Services (EOHHS) for programs affected by Chapter 257. Where and how do providers record payment? Purchase […]
Massachusetts Sales Tax Holiday Authorized for August 15-16, 2015
The Massachusetts legislature and Governor Charlie Baker have again authorized a Sales Tax Holiday for the weekend of August 15-16, 2015 for items costing less than $2,500. A Technical Information Release (TIR 15-7) providing retailers and consumers with specific rules and guidance on the implementation and operation of the holiday has been released by the […]
3.75% Payment Contract for Human & Social Services Providers Affected by Chapter 257
For human & social services providers who do not yet have a regulation establishing a rate of payment for certain social services programs, AAFCPAs reminds you that you will begin receiving quarterly payments on or around August 15, 2015 provided that you have timely executed a 3.75% Payment Contract with the Executive Office of Health […]
Massachusetts Earned Sick Time Law Effective July 1, 2015
This is a reminder that, effective July 1, 2015, Massachusetts’ Earned Sick Time law (M.G. L. c. 149, §§148C and 148D) requires employers who employ eleven or more employees to provide their Massachusetts employees with up to 40 hours of job-protected sick time annually. AAFCPAs thought you may benefit from this summary. Full time, part-time, […]
FBAR Filing Due June 30th
AAFCPAs would like to remind all taxpayers with an FBAR filing requirement to report their foreign assets by the June 30 deadline. Time is of the essence! What is the FBAR? The “FBAR” is the Report of Foreign Bank and Financial Accounts Form 114 that must be filed with the Financial Crimes Enforcement Network (FinCEN), […]
Transitioning to New Medicare PPS for Community Health Centers
Medicare PPS Implementation: What FQHCs Need to Know Part 1: Medicare PPS Implementation: Understanding Your Implementation Date and Rates On May 2, 2014, the Centers for Medicare and Medicaid Services (CMS) published a final rule establishing a new methodology and prospective payment system (PPS) for Federally Qualified Health Centers (FQHC) under Medicare Part B. Currently, […]