Corporate taxpayers filing a consolidated return have an added layer of rules to navigate when carrying back a net operating loss.
We proudly sponsor and participate in events and webcasts that provide innovative ideas and opportunities for you to improve and grow your business. View recordings of past webcasts where RSM professionals were involved as speakers, presenters, and recruiters.
Corporate taxpayers filing a consolidated return have an added layer of rules to navigate when carrying back a net operating loss.
Changes to NOL rules under the TCJA and CARES Act are implemented for consolidated corporate groups under new proposed regulations.
An update on the tax and accounting developments, macroeconomic outlook, trends and policies affecting the real estate industry.
LB&I’s compliance campaign focuses on taxpayer reporting of purchase price allocations in taxable asset acquisitions.
Bill would treat carried interest as ordinary income and subject to it to self-employment tax, regardless of the holding period.
In line with decades of case law and rulings, IRS ruling looks to benefits and burdens of ownership to determine tax ownership.
Favorable rule for corporate stock acquisitions where life insurance contracts are less than 50 percent of the target corporation’s assets.
Key tax takeaways for privately held, middle market companies when adopting the new lease accounting standards.
Investors looking to accelerate write-offs on investments should be aware of an obscure section 382 rule that could destroy the tax-shield.
Sellers are able to command top dollar if they go into the sales process ready to hit the ground running which includes tax preparation.
Mexico released tax changes for 2021. Some new rules may have significant impact on U.S. companies doing business in Mexico.
In early September, Mexico released a proposed tax reform package with significant changes in the country’s international tax regime.
Changes to the built-in gain rules under section 382 would drastically reduce the availability of NOLs following an ownership change.
Tax planning opportunities for consideration in light of COVID-19, the resulting economic crisis, and evolving tax laws and regulations.
IRS to retain regulations treating some related party debt as equity, but will propose rules easing one of the regulations’ harshest rules.
Proposed section 382 rules would prohibit section 338 approach for determining NUBIG/RBIG, and require a modified section 1374 approach.
Comments address concerns and recommendations regarding proposed regulations addressing section 382 built-in gains and losses.
Final bonus depreciation rules similar to previously proposed rules, uncertainty remains for certain transactions.
SBA procedural guidance provides answers on how to navigate PPP loan changes in ownership; deals can now move forward with certainty.
On March 19, the U.S. Senate released the third round of emergency assistance resulting from the 2020 COVID-19 pandemic.
New final regulations include rules for CFCs, depreciation/amortization ‘add-back recapture’ and self-charged interest.
RSM provides tax consulting services for companies as part of the buy-side due diligence process involved with a business acquisition.
The economic impact of COVID-19 is immense. Distressed companies in need of capital may drive future M&A deals.
During a debt workout or restructuring, it is critical that businesses evaluate their restructuring options and the related tax impact.
IRS Deputy Associate Chief Counsel Daniel McCall said government is working on regulations to correct downward attribution of CFC status.
Recent memo provides IRS view that certain stockless contributions create a split holding period on the stock.
Before filing NOL carryback claims it is important to understand whether a previous M&A transaction impacts who benefits from the refund.
Proposed rules address many open issues and would prescribe complex calculations for taxpayers deducting business interest expense.
Seeking tax advice is critical when a company is considering refinancing or modifying debt obligations or filing for bankruptcy.
CARES Act provides general increase to the limitation amount (i.e., the maximum allowable deduction) and special rule for partnerships
Finalized section 385 debt-equity regulations proposed in 2016, government still plans to issue some less harsh rules in the future.
Proposed rule would benefit certain purchasers of banks and other C corporations owning life insurance contracts.
Act contains broad relief for individuals and businesses; includes funding vehicles, recovery payments, and modifications to TCJA provisions
Information on the instant asset write-off and tax loss carryback measures in Australia with potential tax savings for clients.
Some European member states are extending the application of the anti-hybrid rules to common non-abusive structures.
IRS releases final and proposed regulations on the deduction for dividends from foreign corporations and related reporting rules.
As the economy recovers from the recession, financial institutions are again focused on strategic growth.
Taxpayer must use the year-by-year method in determining NOL carryover due to section 170 adjustments to modified taxable income.
Active trade or business present in subsidiary without independent current revenue but with a plan to make future product sales.
IRS: The “share-by-share approach” to recovery of stock basis, although broadly appropriate, might not apply to every scenario.
Tax-advantaged debt repayments addressed in new revenue procedure, providing roadmap for certain spin-off transactions.
Ruling expresses IRS’ views in areas where regulations are silent; reinforces the need for transaction cost analysis.
In PLR 201930011, the Service rules that it is OK to “go your own way” without tax penalty in a textbook split-up.
The IRS recently released a PLR allowing a section 355 tax-free distribution, despite no revenue in the spun-off subsidiary’s business.
Tax deferral sought by Exelon denied; deficiency and penalty amounts in excess of $526 million affirmed on appeal.
IRS Chief Counsel opined that Target’s consolidated group survived notwithstanding the explicit language of the reverse acquisition rules.
IRS to focus on taxpayer compliance with the documentation requirement to allocate and deduct success-based fees.
Carryback an NOL following a leveraged buy-out or distribution, the CERT rules of IRC section 172(h) are often a trap for the unwary.
Guidance would facilitate transitions of existing debt and derivatives to alternative benchmark rates without creating taxable exchanges.
Spin-off ruling reflects viability of post-spin-off stock repurchases, with added twist: investment banks effect repurchases.
Transition rules for proposed built-in gain regulations helpful, but do they signal impending finalization of anti-taxpayer rules?
A favorable ruling on a "fit and focus" spin-off reiterates that only a minimal amount of employee overlap is permissible.
Target company’s deduction claim denied because investment banking firm did not provide services to Target or for Target’s benefit.
Failure to avoid legal or substantive stapling of debt and equity could result in lost tax deductions.
IRS allows early reconsolidation given waiver of capital loss generated by the disaffiliation and lack of other tax benefits.
Companies should understand how states collect millions in unpaid sales tax from internet sales and other remote purchases.
The final version of Form 941-X Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund has been released by the IRS.
Procedures provide guidance for the retroactive expensing of qualified improvement property and reconsidering of elections.
The ability to revoke elections and file amended returns means partnership may have more than one option to benefit from CARES Act.
The CARES Act provides business and tax relief to portfolio companies and investors. However, affiliation rules could limit SBA loan relief.
The CARES Act includes beneficial tax relief. Coupled with sophisticated planning, now is the time to revisit your individual tax strategy.
The CARES Act adds to the complexity of state tax conformity to qualified improvement property. Learn how states approach the issue.
Technology subsectors are not immune to the economic shock of COVID-19. However, they could see growth during this perilous environment.
The Coronavirus Aid, Relief and Economic Security Act has led to significant tax changes and relief for real estate owners and operators.
What are the top business issues and opportunities trending for middle market beauty sector companies in 2020?
While Fulfillment by Amazon can provide advantages to consumer products businesses there are key areas you should address to ensure success.
Retailers using “fulfilled by Amazon” distribution channel should be aware of the limited-time amnesty program.
Mandatory paid leave for employees impacted by COVID-19 is set to start April 1, 2020, per new Department of Labor guidance.
IRS issues guidance on voluntary employees’ beneficiary associations (VEBAs) and supplemental unemployment benefit trusts (SUBs).
The IRS released Notice 2019-09 providing guidance to assist taxpayers in implementing new executive compensation rules under section 4960.
The IRS provides guidance to assist in determining expenses for parking fringe benefits for purposes of section 274(a)(4) and 512(a)(7).
TTB has extended its waivers for certain distilleries wishing to produce hand sanitizer through the 2020 calendar year.
New TTB FAQ addresses requirements for a winery holding remote wine tastings with customers, including tax, labeling, and container sizes.
TTB FAQs allowing for the destruction of beer off brewery premises and waiver of notice of intent to destroy were extended through Sept. 1.
TTB issued FAQs providing guidance for refund claims on taxpaid beer for brewers when unmerchantable beer is destroyed during COVID-19.
The proposed regulations address many concerns around qualified opportunity zones but questions remain to be addressed in further guidance.
This guidance provides updates on the tax treatment of remodel or refresh expenditures and a safe harbor method of accounting for qualified taxpayers.
In this short video, we bring you up to date on the final carried interest regulations and give guidance on actions fund managers may take.
Section 4960 proposed rules add examples and clarity while generally following interim guidance and providing taxpayer-friendly exceptions.
American Rescue Plan Act of 2021 creates $28.6 billion grant program for restaurants and other food or beverage service companies.
Accelerating worthless stock deductions on an insolvent subsidiary without disposing of the business to increase NOL carrybacks.
As businesses renegotiate debts in the aftermath of COVID-19, it is critical to understand whether the debt is considered publicly traded.
The five-year carryback rule applies to insurance companies, both life and non-life, although both categories are singled out in the Act.
Provides more time to elect out of 163(j) interest deduction limitation for taxpayers with certain real property or farming businesses.
Companies often overlook payroll and employment taxes during transactions. Learn how to avoid this potentially costly mistake.
Connecticut classifies use tax noncompliance as a felony, creating potential for serious repercussions for taxpayers and tax preparers alike.
Economic sales tax nexus laws permitted by the Court; physical presence sales tax nexus is no longer the Constitutional standard.
Now that we are post-Brexit and new rules have been released, companies must quickly move from planning to execution stage.
FamilySight, RSM’s new family office dashboard software, enables strategic planning by integrating real-time data.
Effective Jan. 1, 2021, the long-standing terminating business gain exclusion for unincorporated business tax purposes is eliminated.
Favorable classification available for retailers selling private label products and consumer products companies using contract manufacturing
Cash-flow maximization and support opportunities are available to the fashion and beauty industry reeling from COVID-19.
Arizona Supreme Court finds online travel companies must collect tax on service fees and mark-ups paid to book hotel rooms.
Fund management companies face difficult challenges in determining their state income tax filing obligations and apportionment rules.
Here are some ways coronavirus could leave its mark on the global VAT, trade and tariff landscape for the life sciences industry.
RSM is pleased to provide a series of webcast discussions that will drill into the operational planning perspective family offices now face.
This webcast examined risk management strategies designed to help preserve your wealth for future generations.
Economic sales tax nexus is complicated following Wayfair. Brush up on the change and take a 5-question quiz to identify next steps.
Skepticism regarding artificial intelligence is understandable, but it’s often based on a misunderstanding of what AI really is.
A recent proposal would simplify how private-company franchisors analyze their performance obligations in accordance with ASC 606.
Retailers should understand the tax and accounting issues that arise when responding to consumer demands for discounted goods.
Retailers should assess gift card procedures including an annual review of reporting, sales tax, unclaimed property and more.
Investing in omnichannel to reach customers? Consider tax opportunities related to website development and business expansion.
RSM’s report examines how companies are investing in their businesses. In a deeper dive, we explore what manufacturers are considering.
From tuition waivers to deferred comp plans, understand the tax ramifications that independent schools should know about fringe benefits.
Learn more about the recent South Dakota v. Wayfair, Inc. U.S. Supreme Court decision and how it could affect private clubs.
As the tax reform provisions roll out, deal teams have additional tax attribute facets to consider when acquiring or exiting an investment.
While 2021 may turn into a feeding frenzy for private equity, longer-term investors can remain as selective as they’ve always been.
If your company owns or leases energy-efficient commercial buildings, you may be eligible for a deduction for associated property costs.
Although not appropriate for every construction company, an ESOP carries several inherent advantages and is growing in popularity.
RSM and PERE magazine discuss how technology is transforming real estate investors’ abilities to scenario plan and evaluate tax obligations.
With evolving tax regulations on a federal, state and international level, understand the key tax due diligence when selling.
The Wayfair decision doesn’t just affect online retailers. Technology businesses must address resulting state sales taxes, too. Learn more.
As collegiate athletics evolves, RSM is helping colleges and universities be proactive in reducing risk and enhancing compliance processes.
We are frequently called in to meet with companies that are looking to outsource or co-source their tax function. For many, the decision to take ...
The District of Columbia has joined the growing movement towards putting an end to the “tampon tax” – a sales tax on tampons and other feminine ...
Effective Nov. 1, 2017, the District of Columbia Office of Tax and Revenue has revised the Qualified High Tech Company (QHTC) sales and use tax ...
Small business owners may be able to increase tax-beneficial retirement contributions with the use of a cash balance plan.
The IRS, Department of Labor and PBGC combine to offer regulatory relief for employee plans affected by Hurricane Harvey.
Guidance relating to the application of the Cares Act to coronavirus-related distributions and loans from retirement plans.
DOL proposes prohibited transaction exemption for Financial Institutions and Investment Professionals providing advice to participants.
The U.S. Department of Labor has issued necessary regulations for service providers that want to offer PEP arrangements to their clients.
IRS guidance establishes amendment deadline for 401(k) and other retirement plans to comply with new hardship distribution rules.
IRS determines that high deductible health plans can pay for testing and treatment of the coronavirus without tax consequences.
IRS issues proposed regulations regarding special valuation rules for employee’s personal use of an employer-provided vehicle.
Internal Revenue Service expands determination letter process to statutory hybrids and merged plans, effective Sept. 1, 2019.
Because of COVID-19 concerns, the IRS is extending pending deadlines for employers to adopt updated 403(b) retirement plan documents.
IRS guidance on the 15% maximum on automatic contributions, 401(k) and 403(b) plan safe harbor requirements, and plan loan offset rollovers.
The IRS has issued updated questions and answers regarding CARES Act employee retention credits for employers impacted by COVID-19.
New IRS guidance allows high deductible health plans to pay for treatments for chronic health conditions as preventive care.
Employers can add flexibility to their health flexible spending accounts and dependent care assistance programs per Notice 2021-15.
The IRS issues proposed regulations to update the life expectancy tables to reflect current, longer life expectancy rates.
The Act does not lengthen CARES Act COVID plan relief, but offers relief for non-COVID disasters, partial terminations and pension plans.
Plan sponsor actions to incorporate the provisions of the SECURE and CARES Acts into their plan documents and plan administration.
The IRS has released the final version of Form W-4 reflecting changes to employee withholding from the Tax Cuts and Jobs Act.
The amount of vacation, sick or personal leave that employees forgo for their employers to make a charitable contribution is not taxable.
Notice 2018-69 extends the temporary nondiscrimination relief provided to closed defined benefit plans for plan years beginning before 2020.
An IRS private letter ruling illustrates how employee stock ownership plans are governed by the corporate sponsor’s structure.
The amount of vacation, sick or personal leave that employees forgo for their employers to make a charitable contribution is not taxable.
Partnerships that treat partners as W-2 employees may need to reassess their tax positions, including their employee benefit plans.
IRS answers a few important questions regarding the taxation and withholding rules for uncashed distribution checks.
Most retirement plan limitations see small increases from 2018 to 2019, including IRAs for the first time since 2013.
Notice 2018-97 provides needed year-end clarity on certain interpretive and administrative issues for the new deferral opportunity.
Notice 2018-75 clarifies that employers can exclude from employee wages reimbursements made after Jan. 1, 2018 for pre-2018 moving expenses.
The deadline for filing with the government is the same as for furnishing forms to your employees and independent contractors.
The Family Savings Act is meant to make it easier for families to save more earlier with hopes of helping to create financial security.
The IRS publishes applicable annual limitations and maximums for retirement plans, resulting in small increases for 2020.
IRS advises that partners, sole proprietors and other non-employees cannot be Form W-2 employees of professional employer organizations.
Finalized legislation will evolve but the proposal is a starting point for bipartisan negotiations for a new round of economic relief.
RSM provides answers to some of the commonly asked questions regarding employee stock ownership plans (ESOPs).
For section 199A deduction calculation purposes, it is critical for businesses to file timely its W-2 Wage and Tax Statements.
Selling shareholders should review requirements and considerations to determine if they can benefit from tax deferral on a sale to an ESOP.
This article explores the parties involved and decision-making processes that occur when an ESOP owns a portion, or all, of a corporation.
The 2021 Consolidated Appropriations Act passes Congress and includes many extended and improved tax credits and incentives.
Mistaken ideas about the Work Opportunity Tax Credit keep many employers from realizing tax savings. Read about 5 myths here.
Claimants not entitled to alternative fuel credit after IRS found activity did not qualify, despite issuance of IRS 637 registration.
Guidance permits tax relief for fuel removed from terminals in Milwaukee or Madison and entered into Green Bay terminals through 2021.
IRS released CARES Act FAQs on aviation excise tax holiday. FAQs provide clarification on issues related to jet fuel and ticket tax.
TTB issues new guidance in Q&A format about tax-free withdrawals of distilled spirits and hand sanitizer under the CARES Act.
Industry backed legislation passed by Congress to make permanent excise tax rate reductions for craft beer, wine, and distilled spirits.
TTB adopted, with minor changes, temporary regulations on alcohol tax filing dates implementing 2015 PATH Act for eligible excise taxpayers.
Importers of electronics must understand their responsibilities surrounding the excise tax on ozone-depleting chemicals.
The final Qualified Opportunity Zone regulations include several taxpayer favorable improvements over the proposed regulations.
A court found that conclusory statements without additional evidence were insufficient to support an R&D credit study.
The new Qualified Opportunity Zone regulations answer many questions that favor taxpayers, though some questions remain.
Companies may be able to realize additional tax savings through state tax credits and other incentive programs.
Puerto Rico has enacted new legislation to provide additional tax benefits for investing in projects in PR opportunity zones.
Recent guidance provides that certain deadlines, including the allowable time to invest in a QOF, are now extended because of COVID-19.
The second round of Qualified Opportunity Zone regulations may spur taxpayer confidence and financial implications will drive investment.
Misconceptions about the federal research and development tax credit leave many companies paying more tax than required.
The IRS released its annual retirement plan limitations for 2018 with few increases, while others remain the same.
A roundup of considerations for companies while preparing income tax provisions for the year-ended Dec. 31, 2020.
The IRS provided long-awaited guidance for taxpayers anxious to take advantage of the NOL provisions in the CARES Act.
IRS has issued two campaigns for Life Insurers and issues regulations on the calculation of life insurance reserves under section 807(d).
Fixed asset management is an operational and tax requirement that is often overlooked as an area for improvement. What is your opportunity?
Fully-depreciated fixed assets can haunt your property taxes for years. Identify and fully dispense ghost assets to avoid excess taxation.
Employee benefit plans affected by Hurricane Irma may find regulatory relief provided by the IRS, Department of Labor and PBGC.
The IRS released a memo to TE/GE division examiners providing guidelines on enforcement of the section 506 notification requirement.
Eight new initiatives, affecting exempt orgs, employee plans and tax-exempt bonds, added to IRS Compliance Programs and Priorities website.
The IRS issued a private letter ruling indicating that in some cases LLC units can qualify as employer securities for ESOP purposes.
TEGE will resume exam activities on July 16, 2020 and will allow agents and managers to exercise discretion in granting IDR extensions.
Firms and individuals providing investment advice to an employee plan or an IRA may be investment fiduciaries.
Understanding when to contact partnership tax professionals is key to avoiding unnecessary costs and problems.
Taxpayers often struggle to quantify participation for the passive activity rules. A recent court decision may affect those calculations.
Proposed carried interest regulations are mostly as expected with a few new items and detailed computational rules.
This Alert summarizes impacts of the recently-issued interest deduction limitation guidance on the real estate industry.
Real Estate Roundtable’s Tax Policy Advisory Committee suggests liberalizations and clarifications to proposed regulations.
Investment partnerships face a complex landscape when it comes to tax compliance. The solution lies in partnership tax technology.
Notwithstanding unfavorable changes to the Code, capital gain treatment is still available on the sale of patents in certain scenarios.
Retirement plans affected by Hurricane Maria and the California wildfires may find regulatory relief provided by federal agencies.
Immediate and retroactive expensing of qualified improvement property creates tax saving opportunities for taxpayers.
Last minute negotiations pave way for Congress to pass second major COVID-19 stimulus package with tax law changes and tax extenders.
After negotiations go to the 11th hour, Congress passes tax fix for PPP, changes to loan forgiveness and establishes second-draw program.
Biden-Harris administration announces changes to PPP including a 14-day exclusive access period for businesses with fewer than 20 employees.
Notice 2020-32 disallows deductions for expenses paid with loan proceeds from the PPP when loan forgiveness occurs.
The IRS will release proposed regulations confirming the SALT deduction limit will not apply to entity-level taxes imposed on pass-throughs.
Notice 2020-23 extends deadlines for like-kind exchanges under section 1031 and involuntary conversion replacements under section 1033.
The IRS issued guidance extending the time for taxpayers to file certain Form 3115s and Form 1128s to July 15, 2020.
Procedural guidance provides taxpayers with an opportunity to apply bonus depreciation regulations retroactively and reconsider elections.
The final regulations broaden the definition of real property compared to the more restrictive definition in the proposed regulations.
Compliance with ASC 842 includes evaluation of the tax implications that may affect businesses during the implementation.
SBA continues to issue guidance on PPP loan repayment criteria; however more loan forgiveness guidance is necessary.
For corporations with NOLs that anticipate 2021 income, a change of fiscal year may mitigate the impact of the 80% NOL deduction limitation.
Even though the tax rules have not changed, a change in book recognition could create a change in the tax method of accounting.
Employers may wish to pay Social Security taxes deferred under the CARES Act before the due date and should consider certain items.
Treasury Department and SBA announce reopening dates for Paycheck Protection Program - Jan. 11, 2021 and Jan. 13, 2021.
Last push for stimulus funding before year-end provides PPP deductibility obviating need to plan around nondeductibility of PPP expenses.
Insurance companies seeking to make a change to the basis of computing certain reserves receive new automatic accounting method change.
SBA releases authoritative loan forgiveness guidance as well as SBA loan review procedures and borrower responsibility.
Borrowers (and affiliates) that have PPP Loans of $2 million or greater should be prepared to provide additional information to SBA.
SBA releases two PPP reopening guidance packages. The first round of guidance provides information for new PPP borrowers.
PPP lender forgiveness portal is open. Additional guidance issued on loan forgiveness and EIDL amounts as well loan review appeal process.
SBA releases two PPP reopening guidance packages. The second guidance package provides information for eligible second draw PPP borrowers.
While rent forbearance may provide lessees with much needed cash, tax implications should be carefully considered.
The IRS has provided disaster relief, including retirement accounts, to the taxpayers affected by the wildfires in California.
The tax reform legislative process was formally kicked off Nov. 2, 2017, with the release of H.R. 1, the Tax Cuts and Jobs Act.
The IRS created a new Form 1099-NEC to report nonemployee compensation with a different due date than Form 1099-MISC.
IRS postpones certain filing, payment and other time sensitive deadlines for taxpayers affected by Texas winter storms.
The IRS updated taxpayers on its operations status and recognized the delays in processing check payments due on July 15, 2020.
The previous June 30 deadline to carryback 2018 NOLs on Form 1139 and Form 1045 has been extended to July 15.
Coronavirus Aid, Relief and Economic Security Act provides liquidity by providing five-year NOL carryback and other help for corporations.
Retroactive law changes found in the CARES Act raise questions on the proper timing for adjusting corporate E&P.
Learn more on CARES Act tax provisions relating to C corporations and the historical context for the changes contained in the legislation.
Final regulations generally taxpayer-favorable versus 2018 proposal, additional proposed regulations give guidance on pass-throughs, others.
The hub creates opportunities for private equity and offers unparalleled insight into cross-border transactions in key economies.
The IRS clarifies overpayment claims for tax attributes created or released by carrying back an NOL enjoy an extended limitation period.
Questions and answers about how NOL carryback refund claims should address AMT calculations are now available on the IRS’ website.
Management fees paid to shareholders not made purely for services and unreasonable in amount are not deductible under section 162.
Recent IRS advice provides favorable results for restaurants regarding capitalizing costs to ending inventory under section 263A.
Every company makes purchases, so every company has sales and use tax decisions. Many misjudge their sales tax obligations in these 3 areas.
Economic sales and use tax nexus laws are gaining momentum as states make a direct challenge to traditional physical presence standards.
The physical presence nexus standard for sales and use tax purposes is alive and well despite recent criticism and calls for reform.
Effective July 1, Maryland has exempted from sales and use tax the sale of certain personal property to qualified data centers.
Some companies elect to not register or file sales tax despite establishing nexus in a state. Are the near-term savings worth the long-term risk?
Digital Marketing Associations (DMA) Colorado sales and use tax notice and information reporting saga ends in settlement.
Examination of your target company’s tax history and position should be a vital part of due diligence in any cross-border deal.
Determining U.S. reporting and tax obligations resulting from an individual’s foreign pension plans differs by plan and may be challenging.
New IRS cryptocurrency guidance provides much needed clarity but may require changes to returns not yet filed.
The IRS has published a long-awaited practice unit as guidance for examinations of electronic books and records under section 1441.
All companies seeking QI, WP, or WT status for 2019 must apply by Nov. 15, 2019 to have an agreement in effect.
U.S. companies doing business in Canada need to understand Canadian sales tax landscape and what it means for their business.
A look at the impact of Brexit on tax treaties and on the operation of tax law internationally in the new year.
Why is a current transfer pricing study critical? Our international tax team discusses important changes. Watch now.
Final regulations maintain partners cannot be employees of a disregarded entity owned by the partnership in which they are partners.
If adopted, these rules may make multiple-employer 401(k) plans an effective way for small business to provide retirement benefits.
Get key tips for bringing the next generation into the family business. These lessons learned can help propel the enterprise.
Learn how a comprehensive business plan helps company leaders define long-term objectives and the steps to take to achieve them.
Mezzanine recapitalization may provide a capital raising option for middle market businesses, but there are key conditions to consider.
Successful succession planning requires discipline. RSM business succession professionals share tips building a team and transition tips.
Learn the key ownership and business readiness steps taken to successfully transition this family business from generation to generation.
Learn how to view the value of your business through the eyes of a buyer and what you can do today to plan for a successful transaction.
What is the secret to a successful business succession and transition for owners? It starts with a sound plan.
When selling your company, your employees may be the ideal buyer. Learn how ESOPs work within the frame of business succession strategies.
ESOPs are a unique tool that can be valuable to selling shareholders, corporations and employees in a corporate succession plan.
Family attribution rules can cause complete corporate redemptions to be characterized as dividend distributions rather than exchanges.
Stimulus legislation extends through 2021 the 100% of AGI deduction for itemizers and availability of a deduction for non-itemizers.
RSM’s Jason Kuruvilla provides insights on portfolio management, smart investing and what the impact of COVID-19 means for the future.
RSM national enterprise leader for the family office practice at RSM US LLP, moderates a panel for the Association of Corporate Growth.
Is your family office at higher risk for identity theft and cyberattacks? Learn how to improve data security for your family office.
As the Main Street Lending program rolls out, family offices that are eligible must consider pitfalls of borrowing one.
As the human and economic toll of coronavirus mounts, no sector of the economy has been immune from a downturn, including family offices.
There are approximately 200 family offices established in Singapore managing $20 billion of assets, and these numbers will likely grow.
RSM and the Association of Corporate Growth discuss the use of technology to enable remote work during a pandemic and the risks to consider.
Some hedge fund managers are making the move to restructure their wealth as a family office; however, there are key areas to consider.
How family offices can maximize tax deductions and estate planning objectives during the economic downturn caused by the coronavirus.
Strategies to consider to meet your personal objectives without succumbing to frequently overlooked planning traps.
Companies investing in the U.S. must consider how the new regime of state and local sales and use tax nexus may affect their organization.
Department issued compliance alert explains the sales and use tax collection responsibilities for marketplace facilitators and sellers.
General Motors will refund Ohio $28 million in tax benefits after closing an assembly factory before the end of an incentives agreement.
Understanding the myriad of Net Operating Loss rules and regulations is increasing important, especially in a distressed economy.
Fiscal year 2021 budget includes temporary tax changes in order to generate much needed revenue in the COVID-19 economy.
Temporarily increased federal limits on business interest deductions under section 163(j) may impact some state taxpayers.
The federal five-year NOL carryback may have substantial ramifications on state income tax returns beyond simple conformity.
Changes to the federal net operating loss rules under the CARES Act create state tax risks and opportunities for many businesses.
The state will decouple from CARES Act net operating loss, interest expense and excess business losses provisions.
Colorado enacts law restoring certain deductions related the to the CARES Act for both business and individual taxpayers.
Revised conformity excludes certain net operating loss and excess business loss provisions effective for 2019 tax years.
Expansive tax bill provides taxpayer-friendly changes while balancing reduced tax revenue in the COVID-19 economy.
Kentucky passes a series of tax bills intended to attract cryptocurrency miners with new exemptions and credits.
Kimberly-Clark becomes the second MTC repeal challenge denied review by high court following Gillette in October.
Extension of corporate surtax and expanded millionaire’s tax assists New Jersey with significant budget deficit caused by the coronavirus.
New York enacts legislation further decoupling New York City corporate and UBT taxes from certain CARES Act provisions.
Private equity companies have become inundated with state income tax issues as portfolio company investments have shifted to partnerships and LLCs.
The state will decouple from the taxpayer-friendly interest expense and net operating loss provisions of the federal CARES Act.
States may not allow the gross income tax exclusion provided by the federal program, resulting in taxable discharge of indebtedness income.
Businesses with San Francisco activity should be prepared to understand a number of recent changes and updates to city tax law.
Three states have prescriptions for opioid taxes on manufacturers and distributors. Here’s what you need to know.
Manufacturers changing over operations in order to create personal protective equipment may be exposed to new state tax liabilities.
Economic nexus provisions target financial institutions, vary by state and can trigger income or franchise tax filing responsibilities/
The Tennessee Department of Revenue issued guidance on the state’s conformity to section 163(j) of the Internal Revenue Code.
Maintaining static conformity to the IRC, Wisconsin adopts several taxpayer-friendly provisions of the federal CARES Act.
Louisiana will require marketplace facilitators to register and collect and remit the state and local sales tax beginning July 1.
The Michigan Department of Treasury issued a letter ruling detailing the sales tax treatment of various information services.
Mississippi will require marketplace facilitators to register to collect and remit sales and use taxes beginning July 1, 2020.
A growing workforce requires human resources, payroll and tax to work together. Learn risks and opportunities that come with new employees.
State tax cash-flow maximization and risk minimization are available for private equity groups and their portfolio companies.
Certain perishable meat manufactures, processors, and sellers may be eligible for a reduced business and occupation tax rate.
Businesses in the technology industry may benefit from a roadmap of cash-flow maximization considerations during the COVID-19 pandemic.
New or broader sales taxes or gross receipts taxes on digital goods and services may provide states much needed revenue.
A significant unclaimed property decision by a California court may indicate a refund opportunity for retailers. Are there opportunities elsewhere?
Delaware notices advise companies to either participate in the state’s unclaimed property VDA Program or be subject to an audit.
IRS says Obergefell same-sex marriage decision will have limited impact on tax-qualified retirement and other employee benefit plans.
Learn a straightforward six-step process to help U.S. multinationals address new IRS country-by-country reporting requirements.
Redesigning your tax department? Assess your current state 1st. These 3 questions will help direct you to optimal tax resource management.
The decision to co-source the tax function is not simple. Answer these 3 questions to uncover a better approach to tax function efficiency.
RSM’s tax advisory team provides clients with tax structuring recommendations that best align to their goals for the transaction.
This webcast will discuss carried interest regulations and what the proposed rules mean for investment fund managers.
RSM is pleased to offer a three-part webcast series exploring how family offices can take a holistic approach to technology ecosystems.
A skilled labor shortage is driving employers to seek new ways to maximize their workforce while driving efficiencies through technology.
With the election approaching, RSM is looking at the economic stakes and the key issues for family offices.
Now that Democrats’ best-case scenario in the Senate is a 50-50 split, it is safe to expect significant challenges to tax policy changes.
Our benefits team can assess the financial impact of the Affordable Care Act and help implement a customized ACA strategy for your company.
Compensation arrangements for senior management of nonprofits should be reviewed regularly to ensure proper treatment for tax purposes.
Successful brands use omnichannel strategies to connect with customers. Each channel brings tax issues and opportunities.
Consumers often expect discounts and choose gift cards for holiday spending. Retailers must consider the impact on corporate income and sales taxes.
Government Contracting is a growing market with increasing development activities that provide opportunities to claim the R&D tax credit.
Given the recent increase in audits, government contractors should be aware of their unclaimed property compliance obligations.
The ability of automakers and suppliers to include tooling expenses in their R&D credit can create a tremendous benefit.
The Wayfair decision goes beyond just retail and can impact manufacturers that sell exempt to resellers or distributors.
This article dispels myths about the new UNICAP rules and discusses the impact of the new rules on manufacturers.
Tax highlights for life sciences companies as you prepare for year-end filing and a look ahead to prepare for 2019.
This article discusses six tax risks private equity firms should watch out for during due diligence.
Learn ways to address your sales and use tax obligations related to digital goods and services provided by your technology business.
RSM is a leading provider of employee benefit plan audit services, committed to understanding unique challenges within our clients’ plans.
Nonqualified plans are often used as an important tool to attract and retain executives and other key talent.
Article on ESOP distributions, focusing on the detailed mechanics of the how, when and what value is used at the time of the sale.
A summary of the FASB’s decisions on Jan. 10, 2018 on various income tax accounting issues arising from the Tax Cuts and Jobs Act.
Workforce dynamics and recruitment strategies are changing. What role can the board play in talent retention best practices?
Companies can now avoid traditional funding routes and raise millions of dollars online. But the approach is not without risk.
Digital assets present audit and accounting challenges that require re-examining basic considerations within traditional frameworks.
RSM provides restructuring and bankruptcy services to distressed companies, secured lenders, unsecured creditors and more.
Listen to RSM’s podcast series to learn how outsourcing key functions can help organizations stay focused on growing their business.
It is not uncommon for employers to experience issues in remitting amounts due for payroll taxes. Often, these issues go unnoticed by the employer ...
…and nobody knows what is on third. The Abbot and Costello skit was made well before e-commerce arrived, but its focus on confusion is an apt ...
With the passage of federal tax reform, both business and personal income taxpayers will need to consider how the federal changes will affect state...
Recently, the Ohio Board of Tax Appeals issued a decision addressing the situsing of sales under the state’s Commercial Activity Tax (CAT). In ...
The best part of giveaways is that they are free to the fans – no increased ticket price, and more importantly, no sales tax! But does that mean ...
Missouri and many other states provide reduced sales tax rates and exemptions for groceries that are not intended to apply to prepared food sold in...
A recent opinion by the Advocate General (AG) for the European Court of Justice (ECJ) opens the door for pharmaceutical companies to potentially ...
Employers seeking to attract and retain the best employees often turn to creative incentives around vacation and sick leave policies.
On May 11, 2016, the Tennessee Court of Appeals issued a decision holding that a retailer could not receive bad debt deductions for a third-party ...
S-corporations doing business in California and that have NRBIGs are required to apportion those gains to California. However, taxpayers and tax ...
A recent court case emphasizes that the burden of proof is on the taxpayer when it comes to claiming deductions. On May 17, 2016, the Texas ...
Is your company a C corporation that may be undergoing a change in control? If so, you should be aware of the potential adverse tax consequences ...
Historically, some entities in the financial service industry could not utilize Connecticut’s “financial service company” apportionment because the...
Over the past decade, Congress has seen mobile workforce bills introduced in each session like clockwork. The intent of mobile workforce is to ...
One of the standout changes enacted by Ohio's House Bill 49 was a new election to participate in the Ohio Department of Taxation’s central ...
Earlier this spring, Florida Gov. Rick Scott signed House Bill 7109, providing for a reduction in the real property rental sales tax effective Jan....
Taxpayers apportioning service income under the Washington B&O Tax must file a reconciliation form by October 31 annually to avoid penalty.
Delaware recently released a statement indicating intentions to identify and contact noncompliant unclaimed property holders. Notified holders are ...
Illinois' Invest in Kids Act provides favorable corporate and individual income tax credits for qualified contributions to scholarship granting ...
In 2015, Washington state made sweeping changes to its unclaimed property law and opened an amnesty program. Unclaimed property holders that did ...
In response to the devastation from Hurricane Harvey, the IRS, Texas and other states have provided guidance on extended filing deadlines. Texas ...