Ideas & Insights

New Hampshire files challenge over Massachusetts regulation taxing telecommuting nonresidents with U.S. Supreme Court.

The FDIC recently issued an Interim Final Rule providing temporary relief for Part 363 audit and reporting requirements.

We have updated our white paper to discuss how MSLP loans should be accounted for by both borrowers and lenders.

Our white paper discusses many relevant matters related to, and the impact of COVID-19 on, goodwill impairment testing.

The ABA recently addressed the ASC 860 legal isolation criterion for transfers of participating interests in MSLP loans.

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

Extension of corporate surtax and expanded millionaire’s tax assists New Jersey with significant budget deficit caused by the coronavirus.

The AICPA has issued additional technical questions and answers for health care entities related to leasing and CARES Act provisions.

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

The IRS expanded its previous temporary authorization of e-signatures to an additional 7 forms in response to the COVID-19 pandemic.

Our white paper discusses pandemic-related financial reporting issues, including a lender’s accounting for PPP loans.

The AICPA has issued answers to accounting questions regarding certain CARES Act provisions specific to health care entities.

Following the President’s memo on August 8, Treasury releases very short Notice 2020-65 delaying the deadline for employee FICA tax.

Due to the COVID-19 pandemic, the IRS is expanding the use of e-signatures to reduce the need for in-person contact.

Guidance addresses owner-employee ownership thresholds, related party rents and costs for tenants or sub-tenants or home-based businesses.

IRS provides further guidance on managing inventory of unopened mail containing tax payments and relief for bad check penalty.

The IRS updated taxpayers on its operations status and recognized the delays in processing check payments due on July 15, 2020.

The Tennessee Department of Revenue issued guidance on the state’s conformity to section 163(j) of the Internal Revenue Code.

PPP lender forgiveness portal is open. Additional guidance issued on loan forgiveness and EIDL amounts as well loan review appeal process.

An executive order was issued directing the deferral of payroll tax payments. Follow up guidance from the Treasury Department is expected.