Triaging Data Breaches

Triaging Data Breaches By Mark Antali, BDO A data breach is one of the worst things that can happen to nonprofit organizations, their clients, donors and volunteers. When malicious perpetrators gain unauthorized access to financial information or other personal data, they can steal identities, exfiltrate intellectual property and can cause reputational damages that will affect…

IRS Updates FAQs on CARES ACT Employee Retention Credits and Payroll Tax Deferrals

The IRS recently updated its frequently asked questions (FAQs) on the Employee Retention Credit (ERC) and payroll tax deferrals under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. 116-136). These provisions encourage businesses to keep employees on their payroll during the COVID-19 global pandemic. Although the FAQs cannot be relied upon as legal…

How Furloughs and Layoffs May Affect Company Retirement Plans

The coronavirus pandemic has forced many employers to implement some form of workforce reduction to continue operating. While furloughs and layoffs have a significant and immediate impact on a company’s operations, plan sponsors also need to understand the longer-term effects workforce reductions have on participants’ benefits and retirement accounts. Over the next several months, employers…