Monthly Archives June 2021

    Audit committees face many challenges in 2021. As the economy rebounds from the COVID-19 pandemic, there are new dimensions to the oversight roles and responsibilities of the audit committees. Consider taking these following four steps to fortify your committee’s effectiveness. 1. Focus on fundamentals Once you’ve wrapped up the financial reporting process for fiscal year 2020, take the time to revisit goals and expectations to develop an agenda for 2021 that directs the audit committee’s attention back to the basics. The committee is responsible for oversight of the following key areas: Financial reporting, Disclosures, Internal controls, and The
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    To help you make sure you don’t miss any important 2021 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Please review the calendar and let us know if you have any questions about the deadlines or would like assistance in meeting them. Date Deadline for February 1 Individuals: Filing a 2020 income tax return (Form 1040 or Form 1040-SR) and paying tax due, to avoid penalties for underpaying the January 15 installment of estimated taxes. Businesses: Providing Form 1098, Form 1099-MISC (except for those that have a February 16 deadline),
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