Tag Archive: "Credit Unions"
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Excise Tax Deadline Looming for Credit Unions
Included in the Tax Cuts and Jobs Act is an excise tax provision that affects all applicable tax-exempt organizations. The specific regulation is located in Section 4960 of the Internal Revenue Code (IRC). The tax rate is currently set at 21 percent on compensation that is in excess of $1 million. On December 31, 2018, […]
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Regulators Confirm WARM as Acceptable Method Under CECL
As we creep closer to the implementation date of CECL for public filers, there has been a significant amount of commentary related to the Weighted Average Remaining Maturity (WARM) methodology throughout the Banking and Credit Union industries. On April 11th, 2019 an interagency webinar was held by representatives from the FRB, FDIC, OCC, SEC, CSBS, […]