Ideas & Insights

RSM submits Comment Letter seeking clarity on interaction of the employee retention tax credit and required disallowance for wage expense.

Biden-Harris administration announces changes to PPP including a 14-day exclusive access period for businesses with fewer than 20 employees.

IRS postpones certain filing, payment and other time sensitive deadlines for taxpayers affected by Texas winter storms.

Bill would treat carried interest as ordinary income and subject to it to self-employment tax, regardless of the holding period.

LB&I’s compliance campaign focuses on taxpayer reporting of purchase price allocations in taxable asset acquisitions.

The IRS launched a new option to electronically submit third-party authorization forms with either handwritten or electronic signatures.

The case explains the IRS’ view of the requirements to establish substantial rights for work performed under contract for the R&D credit.

IRS modifies guidance on wages that are includible when computing section 199A deduction for taxpayers with short tax years.

Section 4960 final rules generally adopt the proposed regulations with some minor, taxpayer favorable modifications.

Final regulations provide guidance related to deducting fines and penalties and related information reporting requirements.

Final regulations on the section 199A deduction and the DPAD for certain specified co-ops closely mirror guidance in proposed regulations.

Final regulations address self-charged interest and trading partnerships, but reserve on tiered partnerships and other items.

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

New final regulations include rules for CFCs, depreciation/amortization ‘add-back recapture’ and self-charged interest.

Treasury Department and SBA announce reopening dates for Paycheck Protection Program - Jan. 11, 2021 and Jan. 13, 2021.

The IRS issued the final regulations for the section 45Q carbon sequestration credit after reviewing public comments.

Disaster relief may provide liquidity for individuals and businesses located in areas affected by presidentially declared disasters.

SBA releases two PPP reopening guidance packages. The first round of guidance provides information for new PPP borrowers.

SBA releases two PPP reopening guidance packages. The second guidance package provides information for eligible second draw PPP borrowers.

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