From the Executive Editor

By Norman Levinrad • January 18, 2017 • 0 Comments
Happy New Year to all of you. I hope 2017 is a healthy year for all of you and your families.
 
The e-news took a short winter break, mainly because I was moving my Mom into assisted living and clearing out her apartment and did not have time to put together a December edition. Happily she thinks everything about the new place she lives in is wonderful, which makes it a lot easier for her and for me and my brothers.
 
I was very sad last week to hear about the untimely passing of one of my early mentors, Cheryl Morgan. Cheryl was very involved in ASPPA over many decades. She hired me back in 1982 as an administrator, and she was the person who first got me involved in teaching ASPA classes (we had one ”P” in those days). When I went out on my own in 1990, Cheryl referred me to a lot of TPA firms, and my career owes a lot to her. RIP Cheryl.
 

Eugene Joseph posted a reminder to the ACOPA listserv last week about some changes to the filing deadlines for entity tax returns for 2016. I had forgotten about these changes, so thought it may be useful to remind all of you about them!

  • The tax filing deadline for Partnerships was 4/15, but for 2016 has been changed to 3/15, with a 6-month extension to 9/15.
  • The tax filing deadline for C corps was 3/15, but for 2016 has been changed to 4/15, with a 5-month extension to 9/15), effective for the 2016 and later tax years.
This will change things up a bit in our workflow and the timing of the rushes we all deal with in this upcoming busy season.
 
As we are now already in ASC season, I figured an article on ASC 715, and specifically dealing with curtailments and settlements, would be useful to you readers. Daveyne Totten recently participated in a listserv discussion about the proper way to deal with these, so I asked her to write up an article for us. This will be a two-part article; Part 1 in this edition explains curtailments, and Part 2 will appear next month and will deal with settlements. Thank you Daveyne!
 
Are all actuaries nerds? As you know I’ve been featuring actuaries and their non-nerdy hobbies. I asked Alan Stone about his hobbies, and Alan’s description of his hobby is here. I think we can all agree that Alan is indeed a nerd. I’ll keep searching.
 
Our esteemed President Kurt has given us his usual update on the work being done by our Leadership Council, here.
 
Our Executive Director Judy Miller updates us as usual on the coming and goings in D.C. — and of course, there is way more going on there than usual. Judy’s update is here.
 
As you enter this busy season, remember it’s not good to spend too much time sitting at your desk. Don’t end up like this guy
 
Cheers,
 
Norm