Ideas & Insights

Corporate taxpayers filing a consolidated return have an added layer of rules to navigate when carrying back a net operating loss.

Changes to NOL rules under the TCJA and CARES Act are implemented for consolidated corporate groups under new proposed regulations.

FASB to propose deferring the effective dates of ASC 606 for private franchisors and ASC 842 for certain entities.

On May 20, 2020, the FASB approved one-year effective date deferrals for certain entities for ASC 606 and ASC 842.

Due to the coronavirus, the FASB recently proposed a one-year effective date delay for certain entities for ASC 606 and ASC 842.

Investors looking to accelerate write-offs on investments should be aware of an obscure section 382 rule that could destroy the tax-shield.

The FASB staff recently discussed answers to certain questions on financial-reporting topics related to the coronavirus pandemic.

Tax planning opportunities for consideration in light of COVID-19, the resulting economic crisis, and evolving tax laws and regulations.

SBA procedural guidance provides answers on how to navigate PPP loan changes in ownership; deals can now move forward with certainty.

On March 19, the U.S. Senate released the third round of emergency assistance resulting from the 2020 COVID-19 pandemic.

During a debt workout or restructuring, it is critical that businesses evaluate their restructuring options and the related tax impact.

Before filing NOL carryback claims it is important to understand whether a previous M&A transaction impacts who benefits from the refund.

CARES Act provides general increase to the limitation amount (i.e., the maximum allowable deduction) and special rule for partnerships

Act contains broad relief for individuals and businesses; includes funding vehicles, recovery payments, and modifications to TCJA provisions

Information on the instant asset write-off and tax loss carryback measures in Australia with potential tax savings for clients.

The final version of Form 941-X Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund has been released by the IRS.

Procedures provide guidance for the retroactive expensing of qualified improvement property and reconsidering of elections.

The ability to revoke elections and file amended returns means partnership may have more than one option to benefit from CARES Act.

The CARES Act provides business and tax relief to portfolio companies and investors. However, affiliation rules could limit SBA loan relief.

The CARES Act includes beneficial tax relief. Coupled with sophisticated planning, now is the time to revisit your individual tax strategy.