DCAA Compliance Blog

Your Source for DCAA News and Information for Contractors

ReliAscent® LLC is the only government contract accounting firm that specializes in all aspects of government contracting compliance.  From our DCAA compliant accounting services, to monthly government contract accounting for all government agency awards, contract management & administration, and financial services & planning, our goal is to ensure the success of our clients, and all small business government contractors and grantees.  

In our DCAA Blog, we discuss the latest government contracting news from the Federal Government, the DCAA, and DCMA, as well as promotions offered by ReliAscent, and helpful tools and resources for contractors.

We hope you will visit and take part in the discussions on our blog on a regular basis. If you ever have any questions or would like to discuss how our experts can help, do not hesitate to contact us at any time!  


 

ICE Reports for Government Contractors

Posted by Mike Anderson on Wed, Mar 17, 2010 @ 01:33 PM

Is there anyone out there that relishes preparing their Incurred Cost Submissions?  Does this seem like your personal income taxes on steriods?  Also, does everyone know when their ICE reports are due?  We all recognize the date April 15th as tax day but ICE is not quite as clearcut.  For government contractors your ICE report is due 6 months following the end of the corporate fiscal year.   So multiple dates are possible, depending upon how you structure your company.  Many companies have a December 31 end to the fiscal year which means the ICE reports are due by June 30th.  It is not too early to start thinking of this right now if this is the case for your company.  There are typically 18 sections (or Schedules) associated with the ICE report template with another 6 "optional" schedules. (Wow! really?)  There is a government template/model for the ICE report.  You can find this at   http://www.dcaa.mil/ice.htm.  For the un-initiated, this can be a test of patience and sometimes very confusing.  It is no wonder that many people either procrastinate this or forget about it altogether.  This is not a good solution as the contracting officer then is in the drivers seat to determine your indirect billing rates and that could end up costing you money.  My recommendation is to do what you might do with your personal taxes, hire an expert.  The staff at Tech BizSolutions is just such experts.  Give me a call today at 303-867-8125 and we can discuss it in more detail.

Topics: ICE, FAR, Incurred Cost Submission, DCAA accounting