Ideas & Insights

IRS releases Rev. Procs. 2021-48, 2021-49 and 2021-50 to address the treatment of tax-exempt income for PPP loans.

The IRS issued Notice 2021-63, clarifying previous guidance pertaining to the deductibility of food and beverages provided by a restaurant.

Working with RSM—and the revolutionary PartnerSight platform—helps asset management firm Cypress Creek Partners serve thousands of investors

Bipartisan infrastructure bill passes House with bipartisan vote. President Biden expected to sign by end of next week.

The Tax Court ruled that a loan used to fund the acquisition of the Chicago Cubs was akin to equity, yielding tax liability for the seller.

The parties have agreed to structure the combination of businesses tax-free as a “Reverse Morris Trust” transaction.

Loss corporations that have appreciated in value at the time of an ownership change may be able to treat a portion of their GILTI as RBIG.

IRS guidance outlines how its Large Partnership Compliance Pilot Program will operate, including the selection of partnerships and issues.

Sec. 108(e)(6), which can mitigate CODI, is not available to partnership debtors, and may not be available to some insolvent corporations.

Employers must set compensation policies for remote workers taking into account federal and state tax laws and state legal requirements.

Explore methodologies for determining community benefit reporting on Form 990, Schedule H for healthcare providers that received PRF.

Budget reconciliation, tax policy changes, tax technology, year-end planning—all key topics at the RSM Tax Summit 2021.

Federal tax changes probably will be enacted before 2022, but it’s uncertain which proposals will be included in final legislation.

Proposed Excess Business Loss limits could hurt real estate pro’s, others with active losses, including cash losses.

IRS provides guidance about specificity requirement for filing refund claims for IRC section 41 research credit.

IRS cannot assess underpayment interest where it has continuous use of credit-elect overpayments that exceed a deficiency.

The IRS recently announced new requirements for LLCs to qualify as exempt organizations under section 501(c)(3).

Recent IRS advice notes that a company group including several companies must support the interest deductions claimed by a specific company.

IRS changes FAQ policy regarding new tax legislation and offers reliance on FAQs as reasonable cause defense to accuracy-related penalties.

With tax software platforms, private equity funds have the real-time insights they need for smarter investment decision-making.