Ideas & Insights

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

Proposals include a $500,000 cap on gain deferral for like-kind exchanges and eliminating stepped-up basis with a $1 million exemption.

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.

Jerry Nickelsburg of UCLA Anderson Forecast and Joe Brusuelas of RSM discuss the coming expansion and what it means for the middle market.

After technical issues caused the SBA to shut down the SVOG Portal earlier this month, the Portal will relaunch with a revised application.

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.

Law enforcement and financial institutions have detected numerous instances of potential frauds related to health care benefit programs.

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.

IRS Issued Notice 2021-24 to extend relief for failure to deposit employment taxes for employers anticipating credits.

Budget bill increases personal and corporate tax rates, enacts a SALT deduction workaround and makes other changes to the tax code.

In this issue, we discuss updates to regulations that may affect you and your retirement plan. Learn more now.

The IASB has extended the application period for the IFRS 16 practical expedient for covid-19-related rent concessions.

Construction firms forced to reduce or cancel operations by jurisdictional order may meet employee retention credit eligibility requirements

Notice 2021-25 provides temporary relief on deductions for food or beverage under the Taxpayer Certainty and Disaster Relief Act.

The need for forensic accountants to investigate the financial distress caused by the pandemic will grow in the post-pandemic environment.

The Relief Act made changes on how the Employee Retention Tax Credit works during the first two quarters of 2021.