Ideas & Insights

The CARES Act enacted a temporary suspension of the TCJA’s 80% limitation on the use of NOLs, this will impact FTC and ODL calculations.

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

Looming budget shortfalls coupled with tax-related ballot measures in many states could significantly affect 2021.

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.

Insights for family offices on investment and tax strategies, risk management, and operational considerations in the face of the pandemic.

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

What are the top business issues and opportunities trending for middle market beauty sector companies in 2020?

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

RSM professionals discuss the provisions of business interest deduction limitations (Section 163j) stemming from the TCJA and CARES Act.

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.

The future of state and local incentives in a post-pandemic economy will be highly influenced by remote workforces – states may act soon.

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

The IRS postponed the first quarter filing and payment deadline for federal sporting goods excise taxes until Oct. 31, 2020.