GASB November/December Update

By: Eric Berman

Eide Bailly is proud to actively participate in the standard setting process. We regularly attend the Governmental Accounting Standards Board (GASB) meetings held in Norwalk, Connecticut. Eide Bailly Partner Eric Berman attended the last meeting in order to keep you informed of changes coming in the future.  

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IRS Tax-Exempt and Government Entity Priorities 

By: Deb Nelson

The IRS Tax-Exempt and Government Entities (TE/GE) Division shares information annually regarding their priorities and focus for the upcoming year. This year they announced plans to become more innovative, efficient and more effective - with an overall theme of being accountable, disciplined and transparent. Given the scrutiny this division was under during FY2014, it should be no surprise that many of the focus areas contain significant changes for how the division operates on a day-to-day basis.

Based on the re-alignment of TE/GE resources and the push towards data-driven analysis, nonprofits should expect to see increased enforcement through examinations, targeted in areas that have been identified as a high risk for noncompliance.

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