Regulatory Alerts (All)
2014 Uniform Financial Reporting Requirements
On August 28th, AAF held a UFR Update webinar for more than 80 registered viewers. Our presenter, Robin Kelley, CPA, provided the participants with an update of the impact of Chapter 257 on the UFR and the new reporting requirements as well as discussion of risk areas and surplus revenue retention management. If you missed the webinar, […]
2014 UFR Update
Good news to share! The 2014 UFR Preparation Manual was released yesterday and, after much consideration, the Commonwealth of MA, Executive Office of Health and Human Services (EOHHS) decided to allow providers to combine programs that have the same program code this year and not require you to separate non Chapter 257 funded costs from […]
June Tax Reminder: Estimated Tax Payments & Foreign Bank Account Reporting
June is traditionally viewed as a mid-point between the original and extended due dates for filing business, fiduciary, and individual tax returns. However, there are two significant dates that warrant attention. Estimated Tax Payments June 15 is the date for making 2nd quarter estimated tax payments for corporations with calendar year ends, fiduciaries,and individuals. Because […]
Are You Ready for the 2014 UFR?
Chapter 257 of the Acts of 2008 placed the authority for determining human and social service reimbursement rates with the Executive Office of Health and Human Services (EOHHS). The Uniform Financial Report (UFR) is a key source for the financial data used in this analysis. In 2013, the UFR Preparation Manual instructions listed the activity […]
Taxpayer IRS Scam Alert – Tax Return Report
We have been alerted that a number of taxpayers are receiving emails from scammers representing themselves as IRS agents. The IRS does not initiate contact with taxpayers by email to request personal or financial information – this includes any type of electronic communication, such as text messages or social media. In late March, a number of phishing […]
New Guidance for Nonprofits on Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards
The Office of Management and Budget (OMB) issued an omnibus OMB Circular – colloquially referred to as the “Supercircular” – to streamline the Federal government’s guidance on administrative requirements, cost principles, and audit requirements for Federal awards. The objective of this reform is to reduce both administrative burden and risk of waste, fraud, and abuse […]