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.
Build your foundation of understanding about the complexities of VAT and GST and the impact they can have on U.S. multinational businesses.
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.
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.
Virtual event focuses on developments in tax technology and automation relevant to tax professionals facing a landscape of changes.
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.
Increasing capital gains rates and low corporate tax rates create opportunity for an exclusion of gain on Qualified Small Business Stock.
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%.
A single-debtor Chapter 11 reorganization, may trigger a Form 8937 filing requirement for the reorganized company. Learn more about it.
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.
Delaware notices advise businesses to either participate in the state’s unclaimed property VDA Program or be subject to an audit.
Stimulus legislation extends through 2021 the 100% of AGI deduction for itemizers and availability of a deduction for non-itemizers.
Tax bills provide Paycheck Protection Program conformity and revise pass-through entity election for s corporations.
Biden-Harris administration announces changes to PPP including a 14-day exclusive access period for businesses with fewer than 20 employees.
IRS postpones certain filing, payment and other time sensitive deadlines for taxpayers affected by Texas winter storms.
Colorado enacts law restoring certain deductions related the to the CARES Act for both business and individual taxpayers.
Effective January 1, Oregon businesses and individuals in the Portland area have additional regional and county taxes on income and wages.
The paycheck protection program (PPP) combined with the Employee Retention Credit (ERC) can help middle market companies achieve liquidity.
IRS temporarily waives penalty for using dyed diesel fuel on the highways in Texas due to severe winter storm retroactive to Feb. 12.
The Tax Court explains various R&D credit concepts, including process of experimentation, qualified services and pilot models.
Employers can add flexibility to their health flexible spending accounts and dependent care assistance programs per Notice 2021-15.
Investment partnerships face a complex landscape when it comes to tax compliance. The solution lies in partnership tax technology.
Bill would treat carried interest as ordinary income and subject to it to self-employment tax, regardless of the holding period.
The legislation clarifies that the tax is a tax on the pass-through entity itself and applies to nonresidents.
Sweeping changes are coming. Don’t let required capitalization of research expenditures wreak havoc on your tax return.
The legislation significantly changes the corporate tax system and exempts certain COVID-19 relief from taxation.
Information on the instant asset write-off and tax loss carryback measures in Australia with potential tax savings for clients.
What many ERISA plan sponsors consider “reasonable” fiduciary responsibility for plan document retention may not comply with IRS rules.
First-of-its-kind gross receipts tax imposed on businesses deriving revenue of at least $1 million from digital advertising in Maryland.
Devaluation caused by the pandemic may turn your company into a PFIC. However, there may be ways to mitigate tax costs.
Now that we are post-Brexit and new rules have been released, companies must quickly move from planning to execution stage.
A consequence of COVID-19 reductions is potential partial plan termination. Learn the requirements of a partial plan termination.
Tax technology tools are always changing. Innovation can’t outpace you if you’re prepared with the right data and the right team.
Privately held C corporations may be able to maximize gain exclusions and unlock a lower corporate tax rate through section 1202.
Effective Jan. 1, 2021, the long-standing terminating business gain exclusion for unincorporated business tax purposes is eliminated.
The Auditing Standards Board has issued three proposed new standards for quality management at the firm and engagement levels.
IRS adds multiple vehicles to its list of plug-in electric motor drive vehicles for purposes of the section 30D credit.
Management fees paid to shareholders not made purely for services and unreasonable in amount are not deductible under section 162.
While 2021 may turn into a feeding frenzy for private equity, longer-term investors can remain as selective as they’ve always been.
Reverse sales and use tax audits can help businesses improve cash flow and provide long-term tax compliance improvements.
Mexico released tax changes for 2021. Some new rules may have significant impact on U.S. companies doing business in Mexico.
The best way to handle a state or local tax controversy is to build a strong foundation of pre-controversy preparation.
Biden’s campaign proposed tax increases that affect family offices, including rate hikes on corporations and wealthy individuals.
LB&I’s compliance campaign focuses on taxpayer reporting of purchase price allocations in taxable asset acquisitions.
Join RSM professionals as they discuss the latest regulations for exempt organizations when separately computing unrelated business income.
Matt Talcoff, RSM partner and national industry tax leader, and GrowthTV discuss the tax issues family offices should consider in 2021.
Tennessee district court holds credit against fuel excise taxes, reduces excise tax liability and must be deducted from production costs.
RSM and the Association of Corporate Growth discuss the use of technology to enable remote work during a pandemic and the risks to consider.
The IRS launched a new option to electronically submit third-party authorization forms with either handwritten or electronic signatures.
Partially finalized regulations on business interest expense deductions provide helpful clarifications for multinational businesses.
Global compensation and outlook for mobile employees and the unprecedented impact on managing global mobility programs.
A new nexus safe harbor is available for remote sellers making under $100,000 of sales to Chicago customers in the previous four quarters.
Iowa taxpayers making computer and computer peripheral purchases have new guidance for determining what items qualify for exemption.
A Nebraska court found that two taxpayers who moved to the U.K. did not intend to abandon their domicile for state tax purposes.
The case explains the IRS’ view of the requirements to establish substantial rights for work performed under contract for the R&D credit.
Electing employers may withhold income tax from employee wages as if the wages were earned from work performed at a primary work location.
The OECD’s guidance illustrates how the pandemic may impact arm’s length results, including lower profits and even losses.
Plan sponsor actions to incorporate the provisions of the SECURE and CARES Acts into their plan documents and plan administration.
Taxpayers should familiarize with Biden’s plan, remain vigilant for developments and position themselves to act at the appropriate times.
The Texas Comptroller of Public Accounts has finalized revised rules making significant changes to franchise tax apportionment.
UK government provides relief from DAC6, reducing the scope of reporting for UK intermediaries with cross-border transactions.
IRS modifies guidance on wages that are includible when computing section 199A deduction for taxpayers with short tax years.
Managing the risk of business email compromise and other cyberattacks through proactive family office cybersecurity assessment.
Section 4960 final rules generally adopt the proposed regulations with some minor, taxpayer favorable modifications.
Final regulations provide guidance related to deducting fines and penalties and related information reporting requirements.
Tax changes are likely under unified Democratic government, but the nature, extent and timing of changes is uncertain.
Final regulations on the section 199A deduction and the DPAD for certain specified co-ops closely mirror guidance in proposed regulations.
Employers impacted by COVID-19 may be eligible for payroll tax credits and deferrals reportable on their quarterly payroll tax returns.
The DOL has issued final regulations on the FSLA’s rules for independent contractors including gig workers, but it may be repealed.
Businesses with San Francisco activity should be prepared to understand a number of recent changes and updates to city tax law.
The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.
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.
Final air transportation excise tax regulations provide rules for aircraft management services exemption and update prior regulations.
New Jersey Gov. Phil Murphy has approved a bill that authorizes over $14 billion in business tax credits and incentives.
Final regulations address self-charged interest and trading partnerships, but reserve on tiered partnerships and other items.
Final carried interest regulations ease rules for capital interest allocations as well as related party transfers.
A roundup of considerations for companies while preparing income tax provisions for the year-ended Dec. 31, 2020.
Business and professional services providers should consider whether sales tax collection is necessary in the wake of the Wayfair decision.
New final regulations include rules for CFCs, depreciation/amortization ‘add-back recapture’ and self-charged interest.
Paycheck Protection Program (PPP) loan recipients may now qualify for the employee retention tax credit based on new legislation signed.
Treasury Department and SBA announce reopening dates for Paycheck Protection Program - Jan. 11, 2021 and Jan. 13, 2021.
The IRS issued the final regulations for the section 45Q carbon sequestration credit after reviewing public comments.
Taxpayers should plan accordingly as the states are aware of the increase in accounting methods changes due to recent federal changes.
Disaster relief may provide liquidity for individuals and businesses located in areas affected by presidentially declared disasters.
Georgia has expanded the state jobs tax credit to apply to businesses hiring telecommuting employees in 2020 or 2021.
SBA releases two PPP reopening guidance packages. The first round of guidance provides information for new PPP borrowers.
SBA releases two PPP reopening guidance packages. The second guidance package provides information for eligible second draw PPP borrowers.
Year-end stimulus legislation extends Paycheck Protection Program and expands eligibility for exempt organizations.
The program, scheduled to expire on Dec. 31, 2020, received a five-year extension under the recent federal spending bill.
The continuity safe harbor of the beginning of construction requirement is extended to energy credits for offshore or federal land projects.
A look at the impact of Brexit on tax treaties and on the operation of tax law internationally in the new year.
Section 501(c)(4) organizations must submit applications for tax-exempt status to the IRS electronically through pay.gov.
The Internal Revenue Service issued proposed regulations establishing a user fee to request estate tax closing letters.
In response to the COVID-19 pandemic, Notice 2021-7 allows taxpayers to switch valuation methods for employer-provided vehicles.
The Act does not lengthen CARES Act COVID plan relief, but offers relief for non-COVID disasters, partial terminations and pension plans.
Revenue procedure allows treatment of qualified residential living facility operations as a section 163(j) real property trade or business.
Learn more about the U.S. attribute reduction rules for stand-alone C corporations and how they apply to federal consolidated return groups.
Guidance permits tax relief for fuel removed from terminals in Milwaukee or Madison and entered into Green Bay terminals through 2021.
Industry backed legislation passed by Congress to make permanent excise tax rate reductions for craft beer, wine, and distilled spirits.
RSM’s Jason Kuruvilla provides insights on portfolio management, smart investing and what the impact of COVID-19 means for the future.
The 2021 Consolidated Appropriations Act passes Congress and includes many extended and improved tax credits and incentives.
Final regulations provide accrual taxpayers certain flexibility for recognizing income and offer sought-after cost offset for sale of goods.
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.
Exemption from excise tax on hand sanitizer extended and all FDA approved formulas permitted without requiring prior TTB approval.
The final regulations implement the amendments made to section 162(m) by the TCJA and largely mirror last year’s proposed regulations.
TEGE will continue to provide flexibility on IDR enforcement timelines and modified examination procedures due to COVID-19.
Some common paid time off (PTO) policy features cause taxable income to unexpected parties at unexpected times. Learn more here.
Notice 2021-01 provides that private foundations may paper file Form 4720 until electronic filing of the form becomes available in 2021.
Members of pass-through entities must conduct thorough modeling to determine whether a workaround is ultimately beneficial.
Updated emergency regulations and revised guidance explains the duration of COVID-19 nexus and withholding policies.
Advanced technologies boost efficiency for family offices. How will your office leverage technology for growth?
Last push for stimulus funding before year-end provides PPP deductibility obviating need to plan around nondeductibility of PPP expenses.
The IRS created a new Form 1099-NEC to report nonemployee compensation with a different due date than Form 1099-MISC.
The IRS provides welcome guidance to higher education institutions that made emergency relief grants to students.
Some European member states are extending the application of the anti-hybrid rules to common non-abusive structures.
The IRS has developed new guidance for processing interest bearing fuel claims, including one-time claims for alternative fuel credits.
German tax may apply to payments for the licensing or sale of German registered IP, even if neither party resides in Germany.
The regulations largely mirror the proposed regulations with additional, mostly favorable, clarifications for taxpayers.
IRS guidance on the 15% maximum on automatic contributions, 401(k) and 403(b) plan safe harbor requirements, and plan loan offset rollovers.
China has dominated global supply chains, but with rising labor costs, a U.S.-China trade war and the COVID-19 outbreak, this may change.
In line with decades of case law and rulings, IRS ruling looks to benefits and burdens of ownership to determine tax ownership.
Companies contemplating a remote workforce should monitor the potential tax changes in states where employees may live and work.
Form 1099-NEC replaces Form 1099-MISC Box 7 (contractor compensation), but some compensation may be reported on both 1099-NEC and 1099-MISC
Employers may wish to pay Social Security taxes deferred under the CARES Act before the due date and should consider certain items.
Join leaders from RSM’s financial institutions practice on this webcast for a year-end accounting and tax issues update.
Learn why the IRS is increasing its scrutiny on high net worth athletes and entertainers, and what can be done before an audit.
PPP borrowers cannot deduct business expenses funded by a forgiven loan, but additional legislative action could permit such deductions.
PPP borrowers, especially fiscal year taxpayers, should consider extending tax returns and delay loan forgiveness filing (unless necessary).
Real estate investors are ready to close the books on 2020. Here are 10 smart moves for real estate investors to consider at year’s end.
RSM and PERE magazine discuss how technology is transforming real estate investors’ abilities to scenario plan and evaluate tax obligations.
Collaborative investing: Partnering with other families, PE and independent sponsors. Watch as four family office leaders share insights.
IRS finalizes regulations coordinating the section 245A extraordinary disposition rule with the section 951A disqualified basis rule.
Court of Federal Claims holds delegating the filing, depositing and paying of employment taxes is not reasonable cause excusing penalties.
The COVID-19 pandemic has increased the risk of noncompliance in an evolving sales and use tax compliance landscape.
The final regulations broaden the definition of real property compared to the more restrictive definition in the proposed regulations.
Treasury and the IRS release final guidance to exempt organizations for separately computing UBTI under section 512(a)(6).
The 2020 election might initiate widespread changes in America. What will the outcome mean for you as a member of a board of directors?
IRS addresses QSubs and period of limitations in a new set of proposed rules to the centralized partnership audit regime.
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.
The IRS moved away from a decades old agreement and emerged victorious in the $3.3 billion tax dispute with the beverage company.
IRS clarifies deduction disallowance for expenses funded by PPP and issues safe harbor for borrowers that forgo or are denied forgiveness.
IRS Commissioner rejects blanket COVID-19 penalty relief and instead urges taxpayers to use first time abatement and reasonable cause.
The Treasury 2020-2021 Priority Guidance Plan contains numerous anticipated projects affecting exempt organizations.
The IRS has updated six questions in their Employee Retention Credit FAQ document on Tribal Governments and PPP loans in acquisitions.
Cayman Islands just launched its new DITC portal and extended the due date for filing FATCA and CRS reports to Dec. 16, 2020.
A recap of presentations, top questions and highlights from virtual sessions held at the 2020 RSM annual tax summit.
The COVID economy and virtual transformation may provide the right opportunity to take control of supply chain management.
IRS Announcement 2020-12 clarifies that lenders need not issue form 1099-C reporting PPP loans eligible for forgiveness under the CARES Act.
The political and social landscape in the oil and gas industry is changing, and companies without an ESG strategy will fall behind.
While guidance for PPP loan forgiveness and accounting continues to create new sets of questions, RSM specialists discuss pressing issues.
The IRS will release proposed regulations confirming the SALT deduction limit will not apply to entity-level taxes imposed on pass-throughs.
The TE/GE division’s 2021 program letter contains a summary of its priorities for the fiscal year and a new compliance priority webpage.
Recent changes by Indian tax authorities on taxing dividend distributions may impact U.S. investors’ repatriation of earnings.
RSM hosted a week long virtual tax summit providing attendees with insightful post-election and year-end planning insights.
Procedural guidance provides taxpayers with an opportunity to apply bonus depreciation regulations retroactively and reconsider elections.
New state governments set to tackle raising revenue through new and increased taxes coupled with tax-related ballot measures.
Final section 864(c)(8) regulations clarify rules for foreign partners with ECI from transfers of partnership interests.
State tax planning opportunities to consider in light of COVID-19, the resulting economic crisis and evolving tax laws and regulations.
Section 1202 could provide small business investors with a complete exemption of gain realized from the sale of QSB stock.
Borrowers (and affiliates) that have PPP Loans of $2 million or greater should be prepared to provide additional information to SBA.
For corporations with NOLs that anticipate 2021 income, a change of fiscal year may mitigate the impact of the 80% NOL deduction limitation.
Misconceptions about the federal research and development tax credit leave many companies paying more tax than required.
To get the corporate tax technology you covet, you will first need to convince the right people to give you funding. Here’s how to do it.
Join our webcast to learn about the unique challenges U.S. businesses face when engaging in online sales of goods and services overseas.
The IRS confirmed its taxpayer-unfavorable interpretation of deadline extension provisions for like-kind exchanges affected by COVID-19.
Many limitations, including the 401(k) elective deferral limit for employee contributions, remain unchanged from 2020 levels.
Rev. Proc. 2020-45 provides annual inflation adjustments for more than 60 tax provisions, including those affecting exempt organizations.
The Eleventh Circuit determined that reserved rights for homesites did not violate section 170(h)(2) charitable contribution rules.
Some exempt organizations that timely filed Form 990 series returns or notices are receiving erroneous auto-revocation notices.
Four states have adopted or are considering budgets without significant tax increases even considering pandemic shortfalls.
Learn how the U.S. Consolidated Return Unified Loss Rules affect mergers and acquisitions and how taxpayers can benefit from some elections.
Second settlement initiative for certain taxpayers under audit who participated in abusive micro-captive insurance transactions.
In lieu of an in depth analysis, partnerships may utilize one of three ‘snapshot’ methods to comply with tax capital reporting requirements.
New Hampshire files challenge over Massachusetts regulation taxing telecommuting nonresidents with U.S. Supreme Court.
IRS new release announces extended Jan. 15, 2021 filing date for certain taxpayers affected by the September California wildfires.
IRS announces Feb. 16, 2021 extended tax filing, payment and other postponement relief for victims of Hurricane Delta.
The CARES Act enacted a temporary suspension of the TCJA’s 80% limitation on the use of NOLs, this will impact FTC and ODL calculations.
Final FTC regulations provide clarity while Treasury takes a stance against permitting a credit for digital taxes in new proposed rules.
Updated IRS materials suggest a renewed and heightened focus on the reporting of virtual currency transactions by taxpayers.
With the election approaching, RSM is looking at the economic stakes and the key issues for family offices.
Tax planning opportunities for consideration in light of COVID-19, the resulting economic crisis, and evolving tax laws and regulations.
The IRS announced that December 31, 2020 will be the last date to submit tentative net operating loss carryback claims via fax.
Section 6662(i) 40% penalty is an enhancement of section 6662(b)(6). Failed approval of section 6662(b)(6) cannot be cured later.
Excise taxes can have a serious financial impact on business, yet many aren’t focused on the potential impacts.
Looming budget shortfalls coupled with tax-related ballot measures in many states could significantly affect 2021.
Annual license renewals will be required for certain taxes, including the sales tax, sellers use tax and the simplified sellers use tax.
RSM identifies nine frequently asked questions (FAQs) about phantom stock plans, an incentive compensation tool.
Chief Counsel Notice discusses frequent questions regarding settlement requirements for syndicated conservation easements.
IRS increases enforcement efforts and warns taxpayers to review reportable micro-captive transactions prior to October 15 tax deadline.
IRS has issued two campaigns for Life Insurers and issues regulations on the calculation of life insurance reserves under section 807(d).
A business-minded approach: Cybersecurity for family offices begins with awareness of prevalent threats and their own risk profiles.
RSM India covers the complex cross-border tax considerations and reporting requirements applicable to nonresident Indians in this guide.
Key actions companies doing business in the United Kingdom should consider as the UK’s transitional period with the EU comes to an end.
A business did not owe tax on service contract fees, finding the receipts were sourced out-of-state rather than to in-state customers.
SBA procedural guidance provides answers on how to navigate PPP loan changes in ownership; deals can now move forward with certainty.
The final regulations issued by the IRS provide guidance for meal and entertainment deductions under section 274.
Join this webcast to explore the impact of state tax policy on wealthy individuals, including fund executives and business owners.
General Motors will refund Ohio $28 million in tax benefits after closing an assembly factory before the end of an incentives agreement.
Extension of corporate surtax and expanded millionaire’s tax assists New Jersey with significant budget deficit caused by the coronavirus.
RSM is pleased to offer a three-part webcast series exploring how family offices can take a holistic approach to technology ecosystems.
IRS provides specific guidance through proposed IRM provisions to implement interim policy changes for supervisory approval of penalties.
Insights for family offices on investment and tax strategies, risk management, and operational considerations in the face of the pandemic.
IRS extended filing and paying deadlines and TTB updated disaster relief guidance for taxpayers affected by Hurricane Sally.
Prudent payment integrity assessments and analysis of financial processes help family offices reduce risk and streamline financial reporting