RSM’s tax innovation webcast series covers technology that makes compliance at all levels more efficient for partnerships and corporations.
RSM’s tax innovation webcast series covers technology that makes compliance at all levels more efficient for partnerships and corporations.
Join RSM's North American specialists for a webcast that will examine tax issues associated with investing in Canada and Mexico.
RSM’s annual conference includes sessions on federal, international, state and local tax, and keynotes from the OECD and U.S. Treasury.
Virtual event focuses on developments in tax technology and automation relevant to tax professionals facing a landscape of changes.
This article discusses implications of the recent IRS campaign targeting US expatriates to Puerto Rico and related tax issues.
IRS provides guidance about specificity requirement for filing refund claims for IRC section 41 research credit.
Delaware letters advise businesses to either participate in the state’s unclaimed property VDA Program or be subject to an audit.
IRS changes FAQ policy regarding new tax legislation and offers reliance on FAQs as reasonable cause defense to accuracy-related penalties.
In 2022, R&E expenditures cannot be deducted; taxpayers should plan now how they will meet the resulting higher estimated tax payments.
An update on the tax policy developments in Congress and the U.S. Treasury, presented by RSM’s tax policy team.
Filing limitations and requirements at the state level may create both risks and opportunities for federal consolidated filers.
With tax software platforms, private equity funds have the real-time insights they need for smarter investment decision-making.
Proposed tax increases have accelerated deals. Transactions will continue despite any tax changes, just with new pricing considerations.
Our annual tax planning guide for businesses addressing federal tax changes and developments that affect the middle market.
Australian Taxation Office released draft ruling regarding the characterization of income from licensing and distributing computer software
President Biden and Congress have proposed to increase the capital gains tax rate. Taxpayers may wish to create a taxable event.
State tax planning opportunities to consider resulting in a year of economic rebound and legislative tax law changes.
This article details what should be considered to ensure desired tax treatment for employee-shareholders is achieved in a secondary sale.
Explore the potential impacts of House-proposed tax changes on wealthy and high-income individuals and strategies to lessen the effects.
This article delves into the taxation of carried interest in Hong Kong and the US, two of the world’s leading private equity hubs.
The TE/GE division will add emerging issues, including COVID-related employer credits, to its existing compliance activities.
Partnerships and corporations they control may trigger unexpected tax liabilities by transferring value from one to pay costs of the other.
Draft legislation targeting partnership tax rules reaffirms the need for tax technology within real estate partnerships.
Recent leveraged spin-off ruling shows favorable tax treatment may still be available even outside of safe harbors provided in IRS guidance.
The super-deduction provides a temporary first-year allowance for some companies. It also impacts U.S. shareholders with GILTI inclusions.
Family offices affected by income and transfer tax increases on individuals, estates and trusts proposed by House Ways and Means Committee.
IRS rules anti-churning rules apply to deemed asset sales when certain intangible assets remain within the same consolidated group.
A roundup of recent tax law changes and other income tax provision considerations for the quarter ending Sept. 30, 2021.
A summary of important updates for determining deferred tax provision under ASC 740 for the quarter ending Sept. 30, 2021.
The IRS foresees better phone service for taxpayers by hiring more than 1,000 new phone assisters across all call lines.
A recent Treasury Inspector General report suggests the IRS needs to focus on S corps and payments to shareholders. The IRS may disagree.
Family member education in a family office is an evolving initiative to ensure a family’s legacy endures. Learn more.
Micro-captive insurance managers win preliminary injunction against enforcement of IRS Notice 2016-66’s reporting requirements.
Several provisions would tighten IRA rules for high-income individuals, and some other changes apply regardless of income level.
House Ways & Means reconciliation bill contains significant changes to renewable energy credits as well as new excise taxes.
Income derived from certain hedges is excluded from the REITs income tests while income derived from others is included as bad REIT income.
Some hedge fund managers are making the move to restructure their wealth as a family office; however, there are key areas to consider.
In an agent/principal relationship, the expenditures must inure primarily to the principal in order to avoid income to the agent.
The IRS launched a new webpage to guide individual taxpayers and C corporations with large refunds of more than $2 million.
The Complex Media Tax Court case and its applicability to section 351 transactions and the step-transaction doctrine.
What are the proposed tax changes affecting individual taxpayers and what should you consider today to limit your exposure to these changes?
IRS issued Notice 2017-10, designating syndicated conservation easements as a listed transaction requiring disclosure.
The enactment of TJCA creates pressure on taxpayers to distinguish what qualifies as a trade or business for tax purposes.
When accounting for software development costs, various tax accounting methods interact uniquely with the R&D tax credit.
Companies may be able to realize additional tax savings through state tax credits and other incentive programs.
The IRS has issued final regulations under section 301 which become effective Sept. 22, 2021, to reflect current law.
The ownership structure and tax treatment of partnerships call for unique compensatory devices when designing a succession plan.
With proper foresight, closely held business owners can use multiple tools to address various goals when exiting from the business.
Business owners who work for the company may facilitate an ownership transition by separating service payments from company value.
ESOPs are a unique tool that can be valuable to selling shareholders, corporations and employees in a corporate succession plan.
Equity compensation plans may alleviate concerns that closely held business owners have during transition planning.
Business succession financial planning requires introspection. You must quantify core capital needs and define estate and charitable goals.
Owner readiness is crucial to successful business succession, but many struggle with this first step. Read more on planning goals.
The SITAS Committee of the MTC hosted its first meeting in four years to discuss the Committee's history, purpose and future objectives.
The Puerto Rico Treasury issued guidance establishing new rules that would require a transfer pricing study to deduct cross-border expenses.
Proper diligence when it comes to the state application of net operating losses can help maximize tax benefits and minimize errors.
The Tax Cuts and Jobs Act of 2017 established opportunity zones to encourage long-term investments in low-income communities nationwide.
Join us for an update on tax policy developments in Congress and the U.S. Treasury, presented by RSM’s tax policy team.
Real estate and business personal property taxes, together, are one of the largest generators of state and local tax revenue.
Employees working remotely due to the COVID-19 pandemic may result in income tax consequences to both the employee and the employer.
Businesses feeling the economic distress of COVID-19 should consider how to maximize cash flow and stay current with state tax
Many business situations call for a thorough sales tax review to assess and resolve past overpayments and underpayments of sales and use tax
A sales tax bad debt analysis and review can provide necessary cash flow for many businesses in a distressed economy.
By preparing for a sale through sell side tax due diligence, a seller can fix issues before they are identified by a potential buyer.
Businesses with multistate employees should understand the reporting and remittance nuances of a complex unemployment taxing regime.
Massachusetts rejects change in domicile after Florida home purchase, driver’s license change and new voter registration.
The sales and use tax rules on cloud computing and digital goods are foggy at best. Four key steps can help you better see the road ahead.
It should be easy to know where you live, but for state personal income tax purposes, the question becomes “where are you domiciled?”
Understanding the myriad of Net Operating Loss rules and regulations is increasing important, especially in a distressed economy.
Growing businesses need to add workers. As the popularity of independent contractors grows, so does scrutiny over employee classification.
In the event of an economic slowdown, how should taxpayers consider adjusting their pursuit of credits and incentives?
Owners and beneficiaries of pass-through entities are generally allowed to take advantage of the section 41 credit for research activity.
Companies that negotiate their own credits and incentives often miss opportunities and create compliance issues.
The Ways and Means Committee proposed legislation targeting digital assets to increase tax revenue via wash and constructive sales rules.
Learn how the U.S. Consolidated Return Unified Loss Rules affect mergers and acquisitions and how taxpayers can benefit from some elections.
IRS waives penalty for using dyed diesel fuel on highways in several Louisiana parishes through Sept. 30, 2021.
Change management for family offices can be especially challenging because of family dynamics, complex wealth and lean staff.
The IRS released a summary of findings on its Appeals LB&I pilot program, and has ended mandatory participation of Exam in conferences.
A single-debtor Chapter 11 reorganization, may trigger a Form 8937 filing requirement for the reorganized company. Learn more about it.
Learn more about the U.S. attribute reduction rules for stand-alone C corporations and how they apply to federal consolidated return groups.
The decision to co-source the tax function is not simple. Answer these 3 questions to uncover a better approach to tax function efficiency.
The 2021-2022 Priority Guidance Plan contains anticipated guidance projects that would affect exempt organizations.
Taxpayer Advocate Service is wrestling with a backlog of cases trying to navigate the changing environment of the pandemic.
Before implementing a nonqualified deferred compensation plan, employers should consider the benefits and tax and compliance consequences.
House Ways and Means issues its discussion draft amendment with revenue items to offset $3.5 trillion spending package.
IRS postpones certain filing, payment and other deadlines for taxpayers affected by Hurricane Ida in Pennsylvania.
Throughout a plan’s life cycle, employers should consider whether their plans remain compliant and aligned with the organization’s goals.
Understanding the impact and the significance of the upcoming changes on Life Sciences companies and tax policies.
Senator Wyden’s recent ‘discussion draft’ legislation, if enacted, would drastically alter many of the tax rules that apply to partnerships.
IRA beneficiaries can now be stuck with a very tax-inefficient asset after the owner’s death. Learn the solution.
IRS postpones certain filing, payment and other deadlines for taxpayers affected by Hurricane Ida in Mississippi.
Family offices can strengthen backup processes and increase efficiency and scalability by implementing finance and accounting outsourcing.
Insider named family office advisors, accountants and lawyers to know. RSM’s Bill Bijesse was among the 21. Learn more.
IRS postpones certain filing, payment and other deadlines for taxpayers affected by Hurricane Ida in New York and New Jersey.
Recent legislation extends the due date for the application from Sept. 15 to Dec. 1, allowing taxpayers more time to prepare.
The IRS will not issue PLRs on transactions involving a PF’s interest in an LLC that owns a disqualified person’s promissory note.
The IRS revises Form 6765 so in 2021 taxpayers cannot use the same wages to calculate both the R&D credit and the employee retention credit.
Increasing capital gains rates and low corporate tax rates create opportunity for an exclusion of gain on Qualified Small Business Stock.
Senate Finance Chairman Wyden unveils draft international tax reform bill that would overhaul GILTI, FDII and BEAT rules.
Companies abandoning plans for IPO or SPAC transactions should consider the deductibility of transaction costs and termination fees.
IRS postpones certain filing, payment and other deadlines for taxpayers affected by Hurricane Ida. IRS provides additional relief.
Memorandum explains what statements promoters of abusive micro-captive insurance transactions may be subject to section 6700 penalty.
Memorandum delineates when withholding liability adjustments may be made in abusive micro-captive arrangements.
Seventh Circuit Court of Appeals rules taxpayer’s refurbished highway tractors meet safe harbor restoration rule under section 4052(f).
Illinois becomes the latest state to adopt a pass-through entity tax as a workaround to the federal SALT deduction limit.
Landfill owners incur numerous costs for the acquisition of land, related preparation, and regulatory approval to fill on that land.
If your company owns or leases energy-efficient commercial buildings, you may be eligible for a deduction for associated property costs.
Appeals court affirmed U.S. Court of International Trade decision allowing substitution drawback of certain excise taxes and customs duties.
New guidance and dedicated website provide instruction to taxpayers electing into the pass-through entity tax workaround.
Double tax on dividends received by United States shareholders from foreign corporations addressed via TJCA through section 962.
The Internal Revenue Service Security Summit discusses the common warning signs of identity theft and unemployment benefits theft.
State and local tax implications of the explosive growth in telehealth arising from the global COVID-19 pandemic.
The life cycle of a successful family office begins with family objectives, investments, technology systems and more.
New and clarified regulatory requirements for purchases made by, or on behalf of, exempt entities in Illinois effective June 3, 2021.
Companies that have taken care of their workers, embraced technology and adjusted to a rapidly evolving marketplace have been rewarded.
Small businesses that experienced losses in 2020 due to COVID-19 are eligible for grants ranging up to $250,000.
Join us as we discuss the approaching expiration of section 174 and the unfavorable changes to the capitalization of R&D expenses.
A discussion on the IRS concern with non-filers and what can be done to mitigate the risk is provided in this article.
Massachusetts voters to decide whether 2022 ballot measure adding 4% tax on individual incomes over $1 million passes.
Some states impose tax penalties on individuals without health insurance and reporting requirements on employers.
The IRS released guidance allowing automatic accounting method changes for taxpayers to follow the final revenue recognition regulations.
The middle market’s appetite for infrastructure improvements could affect portfolio companies and the tax profiles of wealthy families.
In GSS Holdings Inc., the court applied step-transaction and substance-over-form doctrines to a series of financial transactions.
Expanding cybersecurity threats present family offices with challenges. See how the problems intensified with the shift to remote work.
Global expansion can be the right answer for many companies looking to grow, let RSM help you determine the right global strategy.
Rev. Proc. 2021-33 allows exclusion of PPP, restaurant revitalization and shuttered venue operator grants from ERTC gross receipts test.
The proposed workaround to the federal SALT deduction is unique in providing a 90% credit for an individual’s share of entity tax paid.
The Multistate Tax Commission approved new guidance on P.L. 86-272 that specifically addresses internet activities in the new economy.
Join our tax leaders as we discuss where things stand in Congress, examine the tax agenda for fall and consider the path to policy change.
Revenue Procedure 2021-31 lists depreciation limits for owners of passenger autos placed in service in 2021 and lessees' income inclusions.
Three years after the Wayfair decision, economic sales tax nexus has become the norm, but unanswered questions and numerous issues remain.
Hear perspectives from RSM about transfer pricing trends and planning opportunities for the industrials manufacturing sector.
The comparable profits method (CPM) relies on the principle that similarly situated taxpayers tend to earn similar returns over time.
Now is the time to review the reporting requirements, including 2014 final regulations, for outbound asset transfers to foreign corporations
New legislation addresses extensive changes to audits, voluntary disclosure agreements and how new types of property are escheated.
IRS will begin issuing letters to approximately 100,000 businesses with Employer Identification Number to update their information.
The IRS released a new Practice Unit disclosing steps to assess the section 6707A penalty for failing to disclose reportable transactions.
Doing business overseas may trigger unexpected tax consequences, but careful planning can help mitigate the tax bite.
IRS issues reminder for Taxpayers who own heavy vehicles weighing more than 55,000 lbs to file Highway Use Tax return by Aug. 31, 2021.
Notice 2021-49 provides answers on previously uncertain issues and addresses changes implemented in the American Rescue Plan Act.
What happens if you get audited by the IRS? Download our IRS Audit Survival Guide to learn how to navigate IRS examinations and lower risk.
A look at allocation platform software and tiering technology platform software comparison: PartnerSight vs. the others
Equity compensation plans can provide powerful incentives. Learn the various plans available and how they can meet your compensation goals.
Dave Kautter, former assistant secretary for tax policy at the Treasury Department, returns to RSM to lead growth of specialty tax services.
The entity-level tax election is effective for tax years beginning on or after Jan. 1, 2021 and ending before Jan. 1, 2026.
Learn how PartnerSight helps real estate funds, partnerships and portfolio companies transform their tax function.
The council has approved an increase on the individual income taxes of wealthier residents intending to target a number of city issues.
A family developing a family office needs to establish a governance framework apart from the operating business that grew its wealth.
The European Court of Justice dismissed Nike’s request to annul the European Commission’s probe into illegal Dutch tax deal.
Issues to consider when incorporating a partnership to benefit from the qualified small business stock exclusion
IRS proposes new regulations for mandatory e-filing of business and information returns. IRS reduces form threshold numbers.
When aligning your preferences with 1 of 3 main structural forms, a family office will position itself to succeed for many years to come.
As manufacturing companies rethink their global footprint, they have to bear in mind the changes in tax rules that target global income.
The IRS’s new Tax Pro Account platform allows individual taxpayers to digitally approve, sign and grant authorizations to representatives.
Private equity firms must be prepared to use tax data throughout the life cycle of the deal and respond to changing regulations.
A debtor company was found liable for predecessor’s tax liability, where the debtor company carried on a very similar line of business.
Effective July 1, 2021 the EU’s broad e-commerce package came into effect. The reform aims to modernize VAT for cross-border e-commerce.
Legislation would have created an elective pass-through entity tax intended to reduce the impact of the federal limitation.
Learn about the ACE Act, SCOTUS overturning donor disclosure mandates and more in this July 2021 exempt organization update.
Some employers can give paid leave to employees impacted by COVID in 2021 and claim a payroll tax credit per the American Rescue Plan Act.
The IRS ruled that a plan of reorganization tied a series of steps together even though they were anticipated to span over five years.
Minnesota updates conformity to include recent federal coronavirus legislation and offers a pass-through entity workaround.
EPCRS is a summary of the rules that the IRS uses to assist employers in correcting retirement plan mistakes without disqualifying the plan.
President Biden’s proposals for prioritizing clean energy affect the industrials sector including manufacturing, automotive, and oil and gas
Details of President Biden’s proposals for prioritizing clean energy and its potential effect on the consumer products industry
Small Business Administration, in light of lawsuit, notifies PPP lenders that loan necessity questionnaire is withdrawn.
Employers that do not provide Affordable Care Act-compliant health coverage are in danger of being assessed IRS penalties.
The IRS has recently released new draft instructions for schedules K-2 and K-3 for international tax reporting purposes.
Biennial legislation cuts taxes, offers more refundable research credit expenses and allows pass-through entities to claim certain credits.
Join RSM’s tax policy team on this webcast as they provide an update on developments in President Biden’s proposed tax plans.
California FTB amends remote worker nexus guidance, teleworking employees will create nexus and exceed P.L. 86-272 protections.
The changes reduce the number of brackets, provide for future rate reductions and establish a rate cap for high-earners.
A primer on a nonresident’s tax obligations when disposing of Taxable Canadian Property or Taxable Quebec Property.
Individual income tax rate reductions and bracket changes will benefit taxpayers as well as favorable withholding changes.
A roundup of considerations for companies while preparing income tax provisions for the quarter ending June 30, 2021.
What is the right succession plan? For many in the construction industry, the answer is often found in the employee stock ownership plan.
The IRS examines eligibility of component parts to carbon capture equipment and when owner of partial equipment may claim sec. 45Q credit.
A summary of important updates for determining deferred tax provision under ASC 740 for the quarter ending June 30, 2021.
A new hybrid destination-based sourcing methodology impacts both in-state and remote sellers with New Mexico customers.
Seventh Circuit rules U.S. Venture’s butane gasoline blend do not qualify for the alternative fuel mixture credit.
Guidance extends continuity safe harbors for Investment Tax Credit and Production Tax Credit if construction began between 2016-2020.
Notice 2021-42 provides guidance for cash payments from foregone vacation, sick or personal leave made by employers to charities.
President Biden proposed changes to revamp the U.S. international tax system significantly affect multinationals in the technology industry
Missouri is the final state to adopt an economic sales tax nexus standard following the 2018 South Dakota v. Wayfair decision.
Build your foundation of understanding about the complexities of VAT and GST and the impact they can have on U.S. multinational businesses.
Nebraska broadly exempts manufacturing inputs used by ethyl alcohol producers from the sales and use tax effective Oct. 1, 2021.
Trio of tax bills impact individual and business filers with significant corporate income tax changes scheduled for 2022.
The basis reduction following a discharge of qualified real property business indebtedness (QRBPI) may take place in the year of discharge.
Provides guidance into the extended approval of exemptions for distilled spirits permittees to facilitate hand sanitizer production.
Arizona budget proposals reduce rates, keep the flat tax alive for future years, and provide a rate cap for high earners.
New Jersey budget deal commits less than 5% of the state’s budget surplus to tax relief, ignoring mobile individuals and businesses.
The recent Leon Max v. Commissioner case has concerned practitioners and taxpayers claiming research credits under section 41.
Understand the impact new GST/HST rules may have on distribution platform operators and what you can do before July 1 to be ready.
The IRS has added the 2021 Hyundai Ioniq to list of vehicles eligible for section 30D credit affecting buyers and lessors of these vehicles.
Guidance provides procedures to implement the retroactive 30-year ADS recovery period for residential rental property.
In a new IRS Legal Memo, the IRS opines that most pre-TCJA exchanges of one cryptocurrency for another did not qualify for gain deferral.
Digital assets may be impacted by value added tax and digital services tax implemented by various jurisdictions.
MTC updates status of combined reporting and transfer pricing initiatives, announces new initiatives on pass-through and digital tax issues.
Wisconsin budget bill moves forward with tax cuts aimed at encouraging individuals and businesses to stay and invest in the state.
Overview of the SEP rules that are important for multinational entities to consider while conducting business in India.
Partnerships making certain narrow, and specified changes, may not need to file administrative adjustment requests.
Significant tax changes made to GILTI, bonus depreciation, net operating loss limitations and the phase-out of the state’s franchise tax.
Is a payment to a life science company monetizing a royalty stream a loan or sale proceeds? Is the income ordinary or capital?
Tax bill makes significant changes to rules affecting income taxes, inheritance taxes, credits, bonus depreciation and federal conformity.
Join RSM for a two-day event featuring six state and local tax webinars focused on helping your business move forward amidst change.
Private foundations must electronically file 2020 Forms 4720 with due dates on or after July 15, 2021. Limited exceptions apply.
The European Commission proposes a new framework for business taxation with measures that promote an effective tax structure in the EU.
IRS concludes that a section 481(a) adjustment retains its character as depreciation when computing a taxpayer’s ATI for section 163(j).
G-7 agreement on a 15% global minimum tax could end the race to the bottom in global taxation, but global and U.S. outlooks remain complex.
North Carolina Senate pushes forward major tax reform bill, continuing down the path to repeal the state’s corporate income tax.
Massachusetts legislature approves 2022 ballot measure to add 4% additional tax on all income over $1 million effective January 1, 2023.
Taxpayer relied on statute of limitations to defer tax on merger, then reversed course and said merger was taxable to reduce acquirer’s tax.
Join RSM professionals on this webcast to learn details on President Biden’s fiscal year 2022 budget and the Treasury’s tax Greenbook.
COVID-19 legislation permits taxpayers to provide tax-free payments for certain student loan payments through 2025.
During conversations on Saturday June 5, 2021, the G7 made historic strides toward multilateral agreement on a 15% global minimum tax rate.
Ninth Circuit reverses Tax Court, based on Congress’ provision of tax benefits based on form rather than substance.
As a sponsor of SelectUSA’s Investment Summit, RSM provides the guidance and insight foreign investors need to invest in the United States.
Join RSM Canada on June 7 to learn more about GST/HST changes for businesses outside of Canada who sell remotely to customers in Canada.
Purchasers of software to be used in multiple jurisdictions can apportion sales tax and may be able to seek a refund of tax paid.
Organizations earning fees for digital products and services from residents of Canada may be required to register for GST/HST.
New details of President Biden’s tax plan are shaping congressional negotiations and middle market considerations.
Virtual workforce opportunities have allowed employees to become transient, potentially increasing or reducing your state tax obligations.
The Employee Retention Credit is designed to provide targeted relief to those organizations directly impacted through workforce changes.
South Carolina becomes the latest state to enact a state and local tax deduction limitation workaround joining at least a dozen others.
Hear perspectives from RSM about transfer pricing trends and planning opportunities for the life sciences industry.
The first-in-the-nation digital advertising tax is postponed for one year until 2022 while the state prepares regulations and guidance.
Nebraska enacts corporate income tax rate reductions over the next two years while promising more reductions in subsequent measures.
Administration issues Presidential priorities and pay-fors. Corporations and wealthy individuals face prospect of increasing tax rates.
RO certifications for the Dec. 31, 2020 period are due July 1, 2021. RSM can assist ROs with this and other FATCA compliance requirements.
President Biden’s proposed tax changes for individuals and corporations face uncertainty as negotiations continue in partisan environment.
Oklahoma tax bills revise the corporate, pass-through entity workaround and individual income tax rates for 2022.
The Treasury just released a report proposing how cryptocurrency compliance will contribute to funding the $80 billion IRS overhaul.
The European Court of Justice refused to uphold the European Commission’s ruling that Luxembourg provided illegal state support to Amazon.
ARPA requires health plans to provide employees with six months of free COBRA coverage due to hours reduction or involuntary termination.
Lingering questions about the timing of President Biden’s potential tax changes, including retroactivity, could soon be answered.
Washington bill applies a retroactive tax on captive insurance premiums covering in-state risks from Jan. 1, 2011.
Mexico bans subcontracting arrangements. Companies need to act by Aug. 23 2021 to avoid tax, legal and judicial consequences.
The Supreme Court ruled that a challenge to micro-captive insurance reporting requirements was not barred by the Anti-Injunction Act.
States may not allow the gross income tax exclusion provided by the federal program, resulting in taxable discharge of indebtedness income.
Some exempt organizations will be subject to Virginia’s informational reporting requirement for unitary businesses, due July 1, 2021.
RSM US LLP real estate professionals discuss the future of tax and technology automation, and how it can help real estate firms.
IRS postpones certain filing, payment and other deadlines for taxpayers affected by Tennessee storms, wind, tornadoes, and flooding.
IRS warns taxpayers claiming self-employment tax exemption under IRC section 1402(a)(13) to be mindful of adverse Tax Court precedent.
IRS temporarily waives penalty for using dyed diesel fuel on highways in Southeast due to Colonial Pipeline shutdown through May 21, 2021.
IRS issues procedures for certain foreign corporations to implement required or optional ADS depreciation changes.
There are many things to consider when sending employees abroad on short-term assignment. Here’s the top things you should keep in mind.
White House closes the door on DOL classification of gig workers as independent contractors; reinstalls prior multi-factor test.
IRS provides guidance on dependent care assistance program enhancements made due to COVID-19-related legislation.
Tax-deferral techniques—possibly spurred by a potential increase to capital gains rates—must be scrutinized, as evidenced by this IRS memo
Join RSM and Bank Director for a webcast on the current state and the future of digital assets financial institutions.
Georgia becomes the latest state to adopt an entity-level tax establishing a workaround to the federal SALT deduction limitation.
What is restricted stock and how does it affect taxes for employers and employees? Find out more about this executive compensation option.
Plan sponsors have until July 31, 2021, to pay the patient-centered outcomes research fee on health plans for plan years ending in 2020.
Recent legislation, tax policy and liquidity opportunities for restaurants, including PPP and Employee Retention Credits.
Learn more about how a taxable REIT subsidiary was created to perform activities that cannot be performed directly by the REIT.
Examining the taxpayer ramifications of President Biden’s proposal to fund IRS enforcement capabilities with an additional $80 billion.
Join RSM on this webcast to explore the American Families Plan and the related tax implications affecting the middle market.
Redacted CCAs analyze five factors to determine whether a micro-captive insurance transaction is a reportable transaction.
New capital gains tax to be imposed at 7% on net gains of individuals in excess of $250,000 beginning Jan. 1, 2022.
Arkansas legislatively reverses the state’s convenience of the employer test used to determine taxation of nonresident employees.
Proposals include a $500,000 cap on gain deferral for like-kind exchanges and eliminating stepped-up basis with a $1 million exemption.
Tax bill requires remote sellers with over $100,000 in sales in the state to collect and remit sales taxes beginning July 1, 2021.
The newly enacted optional tax may provide significant opportunity to taxpayers, and in particular, owners of financial service firms.
Summary of the American Families Plan and the potential impact that it could have on the real estate industry.
In a new release, the IRS urges taxpayers to exit abusive microcaptive insurance arrangements in the wake of Caylor win.
The tax components of the American Families Plan would greatly affect the middle market, but they face a fraught political journey.
Biden’s plan to grow the middle class, expand economic growth and leave the US more competitive, may be funded with tax changes.
Tax policy helps shape business strategies and results. RSM’s tax leaders break down what tax laws and regulations mean for taxpayers.
Sellers are able to command top dollar if they go into the sales process ready to hit the ground running which includes tax preparation.
SBA announces opening date for Restaurant Revitalization Fund – Registration on April 30 at 9 am EDT; applications on May 3 at 12 pm EDT.
IRS safe harbor for fiscal year taxpayers on accounting period in which to deduct PPP expenses provides choices and certainty.
After 17 months of internal discussions, the German administration approved a draft bill to implement the EU Anti-Tax Avoidance Directives.
IRS adds multiple vehicles to its list of plug-in electric motor drive vehicles for purposes of the section 30D credit.
After technical issues caused the SBA to shut down the SVOG Portal earlier this month, the Portal will relaunch with a revised application.
Twenty-Five Democratic Senators have introduced legislation to overhaul Federal energy provisions in the tax code.
Potential improved withholding tax rules for non-U.S. investors with qualified opportunity zone investments and some potential challenges.
Some employers can give paid leave to employees impacted by COVID in 2021 and claim a payroll tax credit per the American Rescue Plan Act.
U.S. private equity and venture capital funds with German investors have an additional 6 months to file German partnership returns for 2019.
IRS extended use of digital & electronic signatures for tax forms & documents & use of email for sending/receiving certain documents.
Tax bill adopts economic sales tax nexus and marketplace facilitator nexus; makes other administrative tax changes.
SBA releases draft application as well as a program guide for the Restaurant Revitalization Fund. Potential applications should review.
The Restaurant Revitalization Fund is coming – SBA website soon to be operational – applicants should be ready.
The international tax landscape is shifting based on recent reports from the White House, Senate Finance Committee and U.S. Treasury.
IRS Issued Notice 2021-24 to extend relief for failure to deposit employment taxes for employers anticipating credits.
In addition to market sourcing and single-sales factor apportionment, the state adopts a withholding threshold for certain mobile workers.
Budget bill increases personal and corporate tax rates, enacts a SALT deduction workaround and makes other changes to the tax code.
Findings will be used by the legislature to determine whether Virginia should adopt mandatory unitary combined filing.
RSM’s webcast explores the American Jobs Plan and the Made in America Tax Plan and what they could potentially mean for the middle market.
Beginning for the April tax period, certain taxpayers are subject to advance payment requirements despite a longer return filing period.
Construction firms forced to reduce or cancel operations by jurisdictional order may meet employee retention credit eligibility requirements
As business models grow more complex, we’re debunking some commonly held misconceptions about how companies think about transfer pricing.
2020 regulations expand the scope of the foreign tax redetermination rules, increasing compliance burdens in many cases.
Notice 2021-25 provides temporary relief on deductions for food or beverage under the Taxpayer Certainty and Disaster Relief Act.
Discover the common triggers that lead to unclaimed property audits; learn the tactics to get ahead of the curve and mitigate risk.
President Biden’s proposed changes to corporate and international taxes face Congressional obstacles. RSM examines what’s ahead.
Washington National Tax summarizes key tax aspects of President Biden’s American Jobs Plan and the Made in America Tax Plan.
Eight new initiatives, affecting exempt orgs, employee plans and tax-exempt bonds, added to IRS Compliance Programs and Priorities website.
RSM national enterprise leader for the family office practice at RSM US LLP, moderates a panel for the Association of Corporate Growth.
Spin-off ruling reflects viability of post-spin-off stock repurchases, with added twist: investment banks effect repurchases.
The Relief Act made changes on how the Employee Retention Tax Credit works during the first two quarters of 2021.
A roundup of recent tax law changes and other income tax provision considerations for the first quarter of 2021.
A summary of important updates for determining deferred tax provision under ASC 740 for the quarter ending March 31, 2021.
Comprehensive legislation addresses conformity, Paycheck Protection Program expense deduction, CAT exclusions and pass-through withholding.
Investors need to slow down enough to get their arms around the potential tax ramifications of any real estate acquisition.
There are approximately 200 family offices established in Singapore managing $20 billion of assets, and these numbers will likely grow.
Claimants not entitled to alternative fuel credit after IRS found activity did not qualify, despite issuance of IRS 637 registration.
Expanded FAQs further clarify that institutions do not report grant funds paid to students, and students do not include amounts in income.
This Alert describes and explains the postponement of certain federal tax filing and payment deadlines in IRS Notice 2021-21.
Kentucky passes a series of tax bills intended to attract cryptocurrency miners with new exemptions and credits.
Allocation and tiering leader PartnerSight addresses challenges of getting private equity data tax-ready, helping ﬁnance teams drive value.
PPP extension clears Senate. Program to be extended to May 31, with 30 days provided after May 31 for SBA to process pending applications.
Netherlands Budget Day 2021: An overview of important corporate and international tax developments to be aware of in country
These practice units focus as much on documentation as the soundness of the calculation methodologies themselves.
Nonresidents of Canada could face significant Canadian sales tax compliance obligations effective July 1, 2021.
The Iowa Department of Revenue advises taxpayers that Employee Retention Credit-related wage deduction reductions apply at the state level.
In response to the pandemic, the Canadian government introduced support programs that could benefit U.S. multinationals.
French court expands definition of dependent agent for purposes of Permanent Establishment (PE) determination.
The IRS seeks to improve compliance related to tax-exempt hospitals establishing and implementing financial assistance policies.
From investing to accounting to compliance, digital solutions are now able to improve each of a family office’s operational components.
The new pass-through entity level tax may benefit some individuals subject to the $10,000 SALT deduction limitation.
Taxpayers must electronically file 2020 Forms 990-T with due dates on or after April 15, 2021. Limited exceptions apply.
Managing significant tax changes will ensure individuals and businesses are positioned for success for the remainder of 2021 and beyond.
The American Rescue Plan Act of 2021 extends and expands support for exempt organizations affected by the coronavirus pandemic.
American Rescue Plan Act of 2021 creates $28.6 billion grant program for restaurants and other food or beverage service companies.
The American Rescue Plan Act provides significant aid and funding for suffering pension plans, in part through direct financial assistance.
$1.9 trillion COVID-19 relief plan with broad individual relief and new coronavirus-related funding enacted into law.
The New Jersey Tax Court highlights the importance of understanding and complying with state tax appeal procedural responsibilities.
The Pennsylvania Department of Revenue has issued complex guidance for employees claiming home office expense during the pandemic.
The hub creates opportunities for private equity and offers unparalleled insight into cross-border transactions in key economies.
Governor Ned Lamont has signed legislation retroactively providing COVID-related business nexus and personal income tax relief for 2020.
The IRS released a memo to TE/GE division examiners providing guidelines on enforcement of the section 506 notification requirement.
From retroactivity to loss of planning techniques, this year we face a unique set of concerns when considering gift and estate planning.
Family offices are benefitting from dashboard technology that integrates real-time data to support strategic planning and decision-making.
Despite receipt of PPP loans, hospitality businesses may be eligible for retroactive 2020 and new 2021 credits.
Notice 2021-20 clarifies retroactive changes made to ERTC and PPP interaction and incorporates several previous frequently asked questions.
Shedding light on recent Texas tax law developments and how the business environment can impact taxpayers in any state.
Individuals may be eligible for a valuable incentive to reduce federal income tax liability for contributing to a 401(k) plan.
Companies doing business in, or through India, should evaluate the impact proposed in the India’s 2021 budget released Feb. 1.
Reduction of participation exemption for dividends and capital gains earned by Spanish entities increases corporate tax rates by 1.25%.
RSM submits Comment Letter seeking clarity on interaction of the employee retention tax credit and required disallowance for wage expense.
The Employee Retention Credit provides liquidity benefits for many businesses and was significantly expanded for 2020 and 2021.