Ideas & Insights

Understanding the myriad of Net Operating Loss rules and regulations is increasing important, especially in a distressed economy.

New legislation and impacts from the coronavirus relief bill and SECURE Act for employers: RSM dives into practical advice for plan sponsors

States may not allow the gross income tax exclusion provided by the federal program, resulting in taxable discharge of indebtedness income.

Expanded FAQs further clarify that institutions do not report grant funds paid to students, and students do not include amounts in income.

Learn how CARES Act relief can affect current and future awards and timing considerations for government contractors.

Despite receipt of PPP loans, hospitality businesses may be eligible for retroactive 2020 and new 2021 credits.

The Employee Retention Credit provides liquidity benefits for many businesses and was significantly expanded for 2020 and 2021.

Stimulus legislation extends through 2021 the 100% of AGI deduction for itemizers and availability of a deduction for non-itemizers.

Colorado enacts law restoring certain deductions related the to the CARES Act for both business and individual taxpayers.

Plan sponsor actions to incorporate the provisions of the SECURE and CARES Acts into their plan documents and plan administration.

Employers impacted by COVID-19 may be eligible for payroll tax credits and deferrals reportable on their quarterly payroll tax returns.

Our coronavirus white paper has been updated for financial reporting matters related to the Consolidated Appropriations Act, 2021.

The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.

A roundup of considerations for companies while preparing income tax provisions for the year-ended Dec. 31, 2020.

Year-end stimulus legislation extends Paycheck Protection Program and expands eligibility for exempt organizations.

The Act does not lengthen CARES Act COVID plan relief, but offers relief for non-COVID disasters, partial terminations and pension plans.

The 2021 Consolidated Appropriations Act passes Congress and includes many extended and improved tax credits and incentives.

Potential extension of the financial reporting relief related to TDRs and CECL provided to certain financial institutions in the CARES Act.

The package provides additional funding for the Paycheck Protection Program and allows certain borrowers to draw second round of PPP funding

Last minute negotiations pave way for Congress to pass second major COVID-19 stimulus package with tax law changes and tax extenders.