The Whitlock Company Email Archives Homepage Welcome to our Whitlock Company News Update archive page. Please enjoy our past newsletters for important tax law updates and other current topics of interest including: Community Banking, Accounting and Auditing, Employee Benefits and others.   The News Update is published periodically but at least once a month.  Please let us know your thoughts on any article or any ideas you may have about future articles. Contact Us      Please visit our website for other useful information. www.whitlockco.com April 2016 E-Newsletter   (4/7/2016) New OCC Guidelines for Real Estate Transactions, How Dangerous is Social Engineering?, Will President Obama's New Budget Affect Your Business? March 2016 E-Newsletter   (3/10/2016) How Do I Prove Business Expenses, Social Engineering 101: What You Need to Know, IRS to Improve Customer Service February 2016 E-Newsletter   (2/11/2016) An Update on 2015 Year-End Tax Legislation, Top Findings from Verizon 2015 Data Breach Investigations Report, How Employers Compute Employee Payroll Taxes January 2016 E-Newsletter   (1/6/2016) Simplify Your Business with Cloud Accounting, ACA Update: How to Calculate the Number of FTEs, Early Planning Can Make 2016 Filing Season Easier December 2015 E-Newsletter   (12/9/2015) The Whitlock Company Opens a New Office in KC, 2015 Year-End Tax Planning for Businesses, How is the IRS Combating Tax-Related Identity Theft? Holiday/Thanksgiving E-card 2015  (11/23/2015) An E-card sent to wish everyone a warm and wonderful Thanksgiving, a joyful and peaceful Christmas season and a healthy, happy New Year. November 2015 E-Newsletter   (11/12/2015) Introducing Our New Electronic Delivery System, Are Your Customers Ready for Rising Interest Rates?, New Guidelines for Not-for-Profits that Receive Federal Funds October 2015 E-Newsletter   (10/8/2015) Now Offering IT Security Reviews, Do You Qualify for the Missouri Amnesty Tax Program, Recap of the 2015 PKF Financial Institutions Forum Financial Lending Notes Fall 2015  (10/22/2015) Consider Business Interruption Insurance When Planning for Disaster, Lending to Nonprofits: Opportunity and Threats for Community Banks, Global Cash Flow and Owners' Personal Living Expenses September 2015 E-Newsletter   (9/9/2015) Provisions for Tax Return Due Dates & Hwy Funding Bill, Why are Small Businesses Choosing Cloud Accounting Software?, Are Valuation Discounts on the Chopping Block? Financial Lending Notes Summer 2015  (8/20/2015) Borrower Succession Planning, The Latest IT and Security Hot Topics for Banks, Risk Management with Third-Party Vendors August 2015 E-Newsletter   (8/5/2015) What to Consider When Buying Company Vehicles, The Latest IT and Security Hot Topics for Banks, Announcing Six Staff Promotions July 2015 E-Newsletter   (7/8/2015) Retirement Plan Update, Does Your Company Qualify for R&E Tax Credits?, Receipts for Gifts to Charity: Are They Required? June 2015 E-Newsletter   (6/10/2015) What Can Banks Teach Us About Cyber Security Mitigation?, New Rules for Noncash Donations, Is Sub S Still the Best Option for Your Bank? Financial Lending Notes Spring 2015  (5/14/2015) Community Bank Succession Planning, Leveraged Lending: How to Underwrite Loans Using TEV, Mobile Banking Strategies May 2015 E-Newsletter   (5/7/2015) QuickBooks Online, How to Avoid a Ransomware Virus, Are IRS Audits One-Size-Fits-All? April 2015 E-Newsletter   (4/7/2015) Prevent Identity Theft When Filing Tax Returns with the IRS, Upcoming QuickBooks Online Training Session, Tips to Prevent Online Identity Theft March 2015 E-Newsletter  (3/4/2015) How PKF Affiliation Benefits Our Clients, Tax Changes Taking Effect in 2015, New Requirements for IRAs Financial Lending Notes Winter 2015  (2/18/2015) Problem Loans: When and Where Will They Come Out of Hiding? New Basel III Capital Requirements Regulatory Initiative: Operation Choke Point February 2015 E-Newsletter  (2/4/2015) Top 10 Tax Developments Roundup of Retirement Plan Changes New Standard Mileage Rate January 2014 E-Newsletter  (1/8/2015) How The Onion was Hacked, Sweeping 2014 Regulation, Headaches and Opportunity, Tax Extenders are Finalized Financial Lending Notes Winter 2014  (12/10/2014) Loan Agreements and Debt Covenants, Classifying and Complying with TDRs, Deferred Tax Assets and NOL Carryforwards December 2014 E-Newsletter  (12/3/2014) A Closer Look at the Target Breach, Year End Tax Planning for Businesses, AICPA Approves Clarified Standards for Reviews and Compilations November 2014 E-Newsletter  (11/5/2014) New Security Article Series: How to Outsmart Hackers, Retirement Plan and HSA Dollar Limits Increase in 2015, Why Form an S Corporation? October 2014 E-Newsletter  (10/8/2014) A Tribute to Elmer Selim, Moving due to a job change? There might be potential tax savings., New Model for Revenue Recognition from Contracts with Customers September 2014 E-Newsletter  (9/11/2014) Are There Security Risks with a Voicemail System?, Why Use a Partnership Instead of an S Corporation?, Recap of the PKF Financial Institutions Forum Financial Lending Notes Summer 2014  (8/28/2014) Introducing Blair Groves, What's Your Institutions Risk Appetite, New Competitor on the Horizon, Reg Q - What's it to You? August 2014 E-Newsletter  (8/6/2014) QuickBooks for Your Business, a Focus on Reports, Update: 2nd Quarter Tax Developments, IRA Rollover Rules Changing After Court Decision July 2014 E-Newsletter  (7/9/2014) Looking Back to 2013 for Tax Savings in 2014, HSA Contribution Amounts Increasing for 2015, Spotlight on Whitlock Wealth Management Services June 2014 E-Newsletter  (6/4/2014) Discover a Better Way to Run Your Business, IRS Direct Pay - Now Pay Online!, Estate Planning for Appreciated Assets with a Zeroed-out GRAT Financial Lending Notes Spring 2014  (5/15/2014) Opportunities in Income Property and ADC Lending and Are You Ready for Rising Interest Rates? May 2014 E-Newsletter  (5/6/2014) How Do I? As An Employer, Report Health Insurance Coverage? and IRS Takes Aim at Employment Tax Compliance April 2014 E-Newsletter  (4/3/2014) Top 5 Concerns for Your Bank's Next IT Review, Repair Regulations: Changes for 2014 and Beyond and 8 Reasons Why You Should Definitely Take That Lunch Break March 2014 E-Newsletter  (3/12/2014) How Do I Gather the Right Paperwork for a Charitable Deduction?, ACA Update: Relief for Companies Employing 100 or Less, Understanding Key 2014 Tax Changes Financial Lending Notes Winter 2014  (3/6/2014) To Grow or Not to Grow: Expanding SBA Loan Initiatives, What's in it For Me? A New Look for Lender Compensation, COSO Internal Control Framework Updated February 2014 E-Newsletter  (2/11/2014) Calculate Kiddie Tax, Financial Reporting Framework, Planning to Construct a New Building or Start Major Building Remodel Financial Lending Notes Fall 2013  (11/12/2013) Guidance on Stress Testing, Building Better Customer Relationships, UDAAP and Disparate Impact Update November 2013 E-Newsletter  (11/5/2013) Tax Seminar Recap, New Client Portal, Winds of Change for Lease Accounting and Choosing Employer-Sponsored Retirement Plans, part 2 October 2013 E-Newsletter  (10/8/2013) Upcoming Tax Seminar, Is a HSA Right for You and Overview of Employer-Sponsored Retirement Plans September 2013 E-Newsletter  (9/19/2013) MO Tax Deduction for New Workers, Details About MOST 529 College Savings Plan, Is Your Employer Sponsored Plan in Compliance with the IRS Financial Lending Notes Summer 2013  (9/4/2013) Eight Ways to Grow Your Loan Portfolio, Participation Loans: Another Way to Grow Your Portfolio, Is Your Bank Complying with SCRA? August 2013 E-Newsletter  (8/20/2013) Elmer Selim Opening New Firm, On the Road to Retirement (Series), Common IRA Contribution and Distribution Mistakes July 2013 E-Newsletter  (7/9/2013) Firm News, Common Employee Benefit Plan Pitfalls, Is Quickbooks the Most Effective Accounting Software June 2013 E-Newsletter  (6/5/2013) How to Prepare for a Financial Statement Audit, 2013 Tax Impact on Three Income Levels, FAQ: Are are LLCs Taxed? May 2013 E-Newsletter  (5/2/2013) Getting the Most from your Audit Committee, Tips for Businesses to Manage Social Media Risk, The Pros and Cons of LLCs April 2013 E-Newsletter  (4/4/2013) Implications of the Affordable Care Act for Dentists, WOTC Extended for Employers, How to Keep a Log for Vehicle Expenses March 2013 E-Newsletter  (3/5/2013) What's at Risk with Use of Smartphones, Enforcing the Health Care Act, Is a Non-Profit Required to Have a Balanced Budget February 2013 E-Newsletter  (2/6/2013) How Secure is your Website, 2012 Missouri Income Tax Deduction for New Workers, Deduction for Gifts to Charities Preserved Financial Lending Notes Winter 2013  (1/29/2013) Agriculture Lending, Should Banks be Lowering ALLL Reserves and AICPA Clarity Project Redrafts AU Sections January 2013 E-Newsletter  (1/9/2013) President Signs Taxpayer Relief Act into Law, Fiscal Cliff Averted - Good and Bad News for Business, Increased W2 Reporting, 2013 Standard Mileage Rate Increase December 2012 E-Newsletter  (12/5/2012) Post Election Tax Seminar Follow Up Email  (11/29/2012) November 2012 E-Newsletter  (11/8/2012) October 2012 E-Newsletter  (10/4/2012) Tax Seminar Wrap-Up, DEFCON 2012, Update on Bush Extenders and Tax Cuts, Family Employment in a Dental Practice Tax Seminar Follow Up Email  (9/26/2012) Follow up email including link to download presentation handout. September 2012 E-Newsletter  (9/5/2012) Tax Seminar, New Tax Rules for Building Owners, How to Report Rental Income, Service Organization Control Report August 2012 E-Newsletter  (8/3/2012) Prepare for 2013 Tax Increases, Medical Loss Ratio Rebates Under Group Health Plans, Fraud Checklist for Dental Practices, Are You Ready for the Lease Accounting Standards Change?, Financial Lending Notes Summer 2012  (7/25/2012) Should You Participate in Participation Loans, Accounting for OREO and Foreclosed Assets and Give SBA Loans a Second Look July 2012 E-Newsletter  (7/3/2012) Ratio Analysis for Not for Profits, Tax Implications for the First-Time Homebuyer Credit, Crowning a Deduction - New Tax Tactic for Dentists, Health Care Law Reaffirmed by Supreme Court June 2012 E-Newsletter  (6/5/2012) Does your Not-for-Profit Need an Audit, What You Need to Know About Higher Education Tax Credits, New 401(k) Disclosure Requirements Impacting All Plans, Out of State Business Tax: From Physical Presence to Doing Business May 2012 E-Newsletter  (5/4/2012) E-Verify for All Employers, Time for Post-Filing Season Checkup, Congress Eyes Retirement Savings Plan in Push Toward Tax Reform, Countdown to Supreme Court's Health Care Decision Financial Lending Notes Spring 2012 Issue  (4/17/2012) Putting Loans on the Books, The Impact of Financial Reform, FASB Offers Guidance on TDRs April 2012 E-Newsletter  (4/4/2012) Latest IRS Data Book Shows Jump in Higher Income/Small Business Audit Rates, Contemporaneous Tax Records: Are You Keeping Up, Change of Accounting Rules/Audit Instructions Issued on New Repair Rules, Wireless Security - How to Protect Your Network March 2012 E-Newsletter  (3/6/2012) The Biggest Security Vulnerability, Payroll Tax Holiday Extended for all of 2012, Coming Soon: Greater Tax-Wise Retirement Options, How Do I Guard Against Taxpayer Identity Theft February 2012 E-Newsletter  (2/3/2012) New 2011 1099-K Reporting Now Effective, A Guide to Gift and Estate Planning, Involuntary Conversion for Residence and Personal Property, Sweeping New IRS Repair Regulations Impact Most Businesses and Reduce Your Tax Liability with Estate and Gfit Tax Planning Financial Lending Notes Winter 2012 Issue  (1/23/2012) The Pendelum Swings Back to C&I Loans, How Do You Calculate Debt Service Coverage and Charge Off Recovery: Now is the Time January 2012 E-Newsletter  (1/5/2012) Missouri Small Business Deduction, Chris Griesemer Promoted to Partner, Top 10 Federal Tax Developments of 2012, Young Children and Tax Credits, Reduce Your Tax Liability with Estate and Gift Tax Planning December 2011 E-Newsletter  (12/6/2011) The Whitlock Company Named One of the Best Accounting Firms to Work For, Kathy Hillenburg Promoted to Partner, New Hire Retention Credit, Mitchell, Roy and Wilson Merge with The Whitlock Company, IRS Won't Tax Personal Use of Employer Provided Cell Phones, New Capital Gain Loss Cost Reporting Rules for 2011 November 2011 E-Newsletter  (11/4/2011) Is Your Employer Sponsored Retirement Plan in Compliance?, The Research & Experimentation Tax Credit, Tips for 2011 Year-End Tax Planning, How Social Engineering Can Harm Your Company, Year-End Charitable Giving Can Benefit Your 2011 Bottom Line Financial Lending Notes Fall 2011 Issue  (10/21/2011) Lessons to be (Re)Learned From the Financial Crisis, Managment and Audit Committee Letters and Community Banks: Get Ready for Major Changes October 2011 E-Newsletter  (10/6/2011) The Work Opportunity Tax Credit, Tips for 2011 Year-End Tax Planning for Businesses, Improve Your Company's Security with Patch Management, The American Jobs Act of 2011, Washington Debates Raising Taxes on Higher Income Taxpayers to Cut Deficit and Fund Jobs Program September 2011 E-Newsletter  (9/7/2011) Welcome to the World of Tax Credits, Tax Measures Large and Small Await Congressional Action, Identifying Investment-Related Issues from Fluctuating Markets, Appeals Court Overturns Decision Finding Spouse Not an Employee of Small Business, IRS Issues Guidance on Two New Health Care Reform Measures August 2011 E-Newsletter  (8/4/2011) What I Learned at the 2011 FMS Conference, Federal Debt Limit Talks Move Major Tax Proposals up for Consideration, IRS to Discontinue High-Low Method for Substantiating Travel Expenses, How Do I Qualify for the Residential Energy Property Tax Credit?, IRS Abandons Two-Year Limitations Period for Equitable Innocent Spouse Relief Financial Lending Notes Summer 2011 Issue  (7/27/2011) Financial Reform One Year Later, Growth Strategies, New SBA Refinance Program and Banking Survey July 2011 E-Newsletter  (7/6/2011) IRS Increases Business Mileage Rate, Stay Within Tax Rules When Combining Business and Personal Travel, Check Status of a Charity Before Making a Contribution, Latest IRS Statistics Reveal Typical Profile of High Income Individuals June 2011 E-Newsletter  (6/3/2011) Joe Page Elected to Top Post, Email Hoaxing - What is it and How to Avoid It, IRS Undertakes Review of Equitable Innocent Spouse Rules, Inflation-Adjusted Amounts Released for 2012 Health Savings Accounts May 2011 E-Newsletter  (5/4/2011) Tax Reform Debate Heats Up As Deficit Grows, FAQ: What is a Limited Liability Company?, Scope of Information Reporting Continues to Expand, Next Year's Tax Return Starts with Good Housekeeping Financial Lending Notes Spring 2011 Issue  (4/26/2011) Troubled Debt Restructures - What You Should Know About TDRs, Repeal of Reg Q - Competitive Strategy in a Post-Reg Q World, New Appraisal Guidelines Adopted for Appraisals and Evaluations April 2011 E-Newsletter  (4/4/2011) FAQ: What Are My Chances of Being Audited, S Corp's Associates Were Employees Not Independent Contractors, Repeal of Controversial Form 1099 Reporting, IRS Revises Collection Financial Standards, Estimated Tax: Getting It Right March 2011 E-Newsletter  (3/4/2011) Health Care Laws Uncertain Future Complicates Planning for Businesses, Presidents FY 2012 Proposals Higher Taxes on Wealthy Individuals Limited Tax Breaks for Businesses, Repeal of 1099 Business Reporting Gains Momentum in Congress, Small Employer Health Insurance Premium Credit, Wireless Security - How to Protect Your Network February 2011 E-Newsletter  (2/4/2011) Tax Law Changes for 2011 Impact Individuals and Businesses, Preparation Through Disaster, FAQ: Who is Eligible for the Small Business Stock Exclusion?, Is Adobe or Java Software Making Your Business Vulnerable?, National Taxpayer Advocate says Tax Reform Cannot be Delayed Financial Lending Notes Winter 2011 Issue  (1/12/2011) How to Spot Problem Loans and Know What to Do, Impairment Testing and Fair Value Measurement, Final FASB Disclosure Guidance Issued January 2011 E-Newsletter  (1/5/2011) 2010 Tax Relief Act Extends Lucrative Tax Breaks, Guidelines for 2011 Payroll Tax Cut, President Looks to 2011 to Begin Debate on Tax Reform, Late Passage of Tax Legislation Delays Filing Season, Businesses Get Boost with 100% Bonus Depreciation December 2010 E-Newsletter  (12/3/2010) Ties to Top Firm in China, Deficit Commission's Tax Proposals Spark Debate, IRS Eases Interim Rules for Grandfathered Health Plans, Tax Rates in Turmoil as 2010 Draws to a Close, Year End Planning: as Minute Tips for Individuals November 2010 E-Newsletter  (11/4/2010) Year End Planning for Businesses, Year End Planning for Individuals Presents Unique Challenges, Introducing a New Service: Health Care Reform Tax Plan, IRS Defers Reporting of Employer Provided Health Insurance Costs on Form W-2, Whitlock Co Moves Tri-State Office to Joplin Financial Lending Notes Fall Issue  (10/22/2010) Financial Reform: What Will it Mean for Community Banks, HMDA and Commercial Loan Refinancing, Portfolio Management Strategies Monitoring Borrower Concentrations and Covariance October 2010 E-Newsletter  (10/4/2010) Congress Passes Small Business Jobs Act of 2010, Review of the the Definitive Health Care Reform, Health Care Reform: Six Months Later, Fate of Extenders, EGTRRA Enhancements and Other Incentives, FAQ: What Will the Income Tax Rate Be in 2011? September 2010 E-Newsletter  (9/2/2010) What the New 1099 Reporting Requirement Will Mean for Businesses, What I Learned at DEF CON and How it Can Help Your Business, FAQ: What's New in Back-to-School Tax Savings?, New Requirements of ACH Risk Assessment for Community Banks, Calculating Correct Withholding and Estimated Tax August 2010 E-Newsletter  (8/4/2010) Important 2Q Tax Developments, Whitlock Ranked as Top Firm for Asset Management, Congress Readies Enhanced Small Business Tax Bill, IRS Takes a Step Toward Implementing Controversial New Information Reporting, Preparing For the Possible Return of Pre-EGTRRA Individual Tax Rates, Q&A: How Do I Set-up a Retirement Plan for Employees of My Small Business Financial Lending Notes Summer Issue  (7/13/2010) Managing and Mitigating Portfolio Risk, Monitoring Government Guaranteed Loans, Are Your Borrowers Testing for Goodwill Impairment? July 2010 E-Newsletter  (7/7/2010) Trends in Private Equity: Views & Insights for 2010, Brace Yourself for a Sea of Change in the Tax Law, Concerns About Risks Confronting Boards - A Board of Directors Survey, FAQ: Can I Deduct the Cost Incurred Doing Charitable Work?, The IRS Initiates Project to Review 401(k) Plan Compliance June 2010 E-Newsletter  (6/4/2010) Surviving the Recovery: How to Obtain Financing in the Post-Financial Crisis World, Audits of Wealthy Individuals Trending Upward, IRS Oversight Board Reports, Q & A: How Do I Claim the Small Business Health Insurance Tax Credit for 2010?, Not-for-Profit's Failure to File Required Information Returns Can Lead to Automatic Revocation of Tax Exempt Status, Planning for the 3.8% Medicare Tax on Investment Income May 2010 Newsletter  (5/5/2010) Congress Completes Overhaul of Health Care Law and Makes Many Tax Changes, Commercial Lending: How To Spot The Living Dead , Are Individuals Now Required To Purchase Health Insurance?, IRS Ramps Up Guidance On New Small Employer Health Insurance Tax Credit , Commercial Lending: Deferred Tax Assets. The Good and the Bad., IRS Issues Forms, Instructions For HIRE Act Employer Tax Incentives April 2010 Newsletter  (4/5/2010) Health Care Reform Key Tax Changes, Employee Profile :: Shelly Toft, The Whitlock Company Sponsors the Special Olympics of Missouri, Congress Passes HIRE Act. What Does This Mean For Your Business?, HIRE Act Provide Payroll Tax Forgiveness and Worker Retention Credit March 2010  (3/4/2010) Key Issues For Your Next IT Exam, Electronic Filing of all Form 5500s is Now Mandatory, Doing Business in More Than One State? New Tax Law to Keep in Mind, IRS Makes Case for Greater Disclosure from Businesses, Small Businesses Face Opportunities and Challenges in 2010 February 2010  (2/8/2010) Announcing New Staff Updates, Securing Your Customer Files and Information, New Tax Info About The Work Opportunity Tax Credit, Ties To Top Peers Help Enhance Our Service Capabilities, IRS Chooses To Wait For Congress To Act On Employer-Provided Cell Phone Tax Rules January 2010   (1/4/2010) Did The Repeal Of Glass-Steagall Contribute To The Financial Meltdown?, Congress' New Year Resolution: Finish Word On Tax Bills, Looking Back At 2009 And Getting Ready For Tax Time 2010, IRS Commissioner Outlines Agenda for 2010 And Beyond, IRS Cuts Mileage Rate For Business Miles Driven, December 2009  (12/7/2009) Deferred Tax Assets For Banks May Be Questioned By Regulators; First Research Publishes Quarterly Update For Banks; 401(k) Plan Sponsor Newsletter; How Do I Make A Catch-Up Contribution; Opportunities And Challenges Presented By 2009 Roth IRA Rollovers; Last Minute Strategies For Year-End Tax Savings; Working With The New Loss Carryback Tax Break; IRS Reminds Homeowners About New Energy Credits To Help "Winterize" Your Home; Congress Has Busy Tax Agenda As 2009 Comes To A Close November 2009  (11/4/2009) The Whitlock Company Is Named One Of The 2009 Best Accounting Firms To Work For; Thomas Jefferson's Top 10 Quotes On Money And Banking; Commercial Lending...More Lessons: Equity and Contingent Liabilities; Legislative Watch-House Bill Would Stave Off Estate Tax Repeal; Businesses Should Consider Asset Purchases Before 2009 Tax Incentives End; Pending Legislation Complicates Year-End Tax Planning; How Do I? Net Capital Gains And Losses For Year-End Tax Planning? October 2009  (10/12/2009) (Unofficial) Problem Bank List; Commercial Lending; 5 Reasons Why Businesses Fail; Best Customer Service; Obama Outlines Savings Initiatives; What Tax Breaks Are Ending This Year?; congress Debates Full Agenda of Tax Bills; Year-end Planning Techniques September 2009  (9/8/2009) Business Valuation Declines; Back-To-School Tax Savings; New Tax Deadlines; 5 Tips for Handling Your IRA; Data Breach; Congress' Summer Recess; IRS Identity Theft Warnings August 2009  (10/15/2009) Thinking of Switching Bank Charters?; Consumer Financial Protection Agency; If You Are "Rich"...; Important Tax Developments; Struggle to Pay for Health Care Reform July 2009  (7/21/2009) Accounting For Loan Losses; IRS Updates COBRA Premium Assistance; Congress Ramps-Up Tax Legislation; IRS Issues New Rules For 403(b) Plans; Why Our Membership In PKF Is Important June 2009  (6/29/2009) How Will Obama's Tax Proposals Affect You?; Will I be Under Withheld for 2009 Taxes?; AICPA Publishes Business Brief on ARRA 2009; Grant Thorton Addresses Bank Capital Requirements in Letter to Regulators The Whitlock Company 3271 E Battlefield Springfield, Missouri 65804 Join our Mailing List!