ICE Reports for Government Contractors
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 ReliAscent are just the experts you need to ensure you complete the ICE submission correctly, and do not fail a potential DCAA ICE audit! Give us a call today at 303-999-3808 and we can discuss it in more detail. Or, for more information on the ICE and incurred cost submissions in general, visit our ICE and White Papers and Checklist pages today!