Teal, Becker & Chiaramonte, CPAs, P.C. understands the challenges, structure and unique operations of labor organizations. Our experienced teams have the specialized knowledge to provide guidance on your complex compliance and accounting issues. For many clients, we are consistent attendees at executive board meetings and are always available for advice and consultation.
Labor Organizations, through the collective bargaining process, assist in promoting the welfare, working conditions, and interests of the people they serve. For more than 45 years, our job has been to help them comply with all tax filing requirements and to offer advice for improving their operations and sustainability.
Our Labor Organization specialists are committed to:
- Staying abreast of U.S. Department of Labor rules and regulations,
- Staying compliant with IRS regulations,
- Staying up to date on new Financial Accounting Standards Board (FASB) releases
- Providing services under the commonly referred to Hudson decision (Chicago Teachers Union Local No. 1 AFT, AFL-CIO Hudson) for public sector unions,
We offer a broad range of labor organization services such as:
- Financial statement audits, reviews and compilations (including consolidated),
- Agency fee audits,
- Preparation of financial statements,
- Recommendations for enhanced operations, as necessary, including internal financial procedure reviews,
- Required government filings such as DOL Form LM-2 and Internal Revenue Forms 990 and 1120-POL,
- Representation at US DOL and IRS government audits.