Ideas & Insights

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

Coronavirus Aid, Relief and Economic Security Act provides liquidity by providing five-year NOL carryback and other help for corporations.

Questions surround new tax legislation in response to COVID-19. RSM’s Tax Policy Now examines extended deadlines, paid leave and cash flow.

New proposed regulations provide helpful examples of business entertainment and meals deductions still permissible after TCJA restrictions.

Tax Policy Now podcast examines filing tax returns now or pursue an extension, given the wait for Treasury Department legislative action.

Guidance provides clarity to current and former small business farmers on procedural options for exemption from UNICAP for certain plants.

Advisor must document amounts used to “investigate” an actual buy or sell – a study may make sense if amounts are substantial.

In early September, Mexico released a proposed tax reform package with significant changes in the country’s international tax regime.

Instructions for claiming a refund or credit, or adjust Form 990-T for qualified transportation fringe of unrelated business income tax.

The IRS is willing to consider relief from double taxation resulting from the application of section 965 in limited circumstances.

New Jersey becomes the sixth state to adopt an entity-level tax establishing a workaround to the federal SALT deduction limitation.

RSM’s tax leaders bring insight on upcoming policy shifts for the Tax Cuts and Jobs Act in a short audio cast.

The global economy has decelerated over the past two years as an uncertainty tax continues to damp overall economic activity.

The comment letter explains that certain S corporations that experienced an ownership change should also qualify under these rules.

House bill, if enacted, would increase SALT deduction cap in 2019 for certain taxpayers and repeal SALT deduction cap for 2020 and 2021

The SECURE Act makes changes affecting retirement benefits in qualified plans and in IRAs for both the employers and individuals.

The IRS has released the final version of Form W-4 reflecting changes to employee withholding from the Tax Cuts and Jobs Act.

The IRS released proposed regulations which supplant and largely following previous guidance in Notice 2018-68 with important distinctions.

Learn more about the current expected credit loss standard, the London Interbank Offered Rate transition and tax reform.

New tax laws and industry trends create planning opportunities for fund owners and management firms in the year ahead.