Ideas & Insights

The Restaurant Revitalization Fund is coming – SBA website soon to be operational – applicants should be ready.

With the extension of the PPP application, lenders should continue to be vigilant about the increased risk of fraud.

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

In addition to market sourcing and single-sales factor apportionment, the state adopts a withholding threshold for certain mobile workers.

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

The PCAOB staff recently issued an overview of its planned inspection focus areas and an accompanying audit committee resource.

The SEC recently issued a statement addressing certain liability risks for those participating in the endeavors of a SPAC.

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

On April 12, 2021, the SEC issued a Staff Statement on Accounting and Reporting Considerations for Warrants Issued by SPACs.

Findings will be used by the legislature to determine whether Virginia should adopt mandatory unitary combined filing.

In order to identify and report Medicare bad debts, learn the steps skilled nursing facilities (SNFs) should take.

Beginning for the April tax period, certain taxpayers are subject to advance payment requirements despite a longer return filing period.

The Treasury has removed the United Arab Emirates from the list of countries requiring cooperation with an international boycott.

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

Eight new initiatives, affecting exempt orgs, employee plans and tax-exempt bonds, added to IRS Compliance Programs and Priorities website.

The FASB has issued ASU 2021-03, which provides a new goodwill impairment alternative for private companies and not-for-profits.

The SEC recently addressed certain issues to be considered before a private company undertakes a business combination with a SPAC.

Spin-off ruling reflects viability of post-spin-off stock repurchases, with added twist: investment banks effect repurchases.

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

A roundup of recent tax law changes and other income tax provision considerations for the first quarter of 2021.