Ideas & Insights

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

IRS releases a statement announcing that the application period for the CAP program is now open to qualifying corporations for 2021.

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

Notice 2020-32 disallows deductions for expenses paid with loan proceeds from the PPP when loan forgiveness occurs.

Procedures provide guidance for the retroactive expensing of qualified improvement property and reconsidering of elections.

Corporate taxpayers filing a consolidated return have an added layer of rules to navigate when carrying back a net operating loss.

The IRS provided long-awaited guidance for taxpayers anxious to take advantage of the NOL provisions in the CARES Act.

Recent guidance provides that certain deadlines, including the allowable time to invest in a QOF, are now extended because of COVID-19.

The IRS issued guidance extending the time for taxpayers to file certain Form 3115s and Form 1128s to July 15, 2020.

As businesses renegotiate debts in the aftermath of COVID-19, it is critical to understand whether the debt is considered publicly traded.

Accelerating worthless stock deductions on an insolvent subsidiary without disposing of the business to increase NOL carrybacks.

Immediate and retroactive expensing of qualified improvement property creates tax saving opportunities for taxpayers.

This article dispels myths about the new UNICAP rules and discusses the impact of the new rules on manufacturers.

RSM’s report examines how companies are investing in their businesses. In a deeper dive, we explore what manufacturers are considering.

Clubs, restaurants and other businesses that rely on tips to support employee pay should be aware of revisions to employee tipping law.

Retailers should understand the tax and accounting issues that arise when responding to consumer demands for discounted goods.

Farmers, retailers, restaurants and food manufacturers often donate excess inventory for charitable use. Tax deductions may be available.

This guidance provides updates on the tax treatment of remodel or refresh expenditures and a safe harbor method of accounting for qualified taxpayers.

Consumers often expect discounts and choose gift cards for holiday spending. Retailers must consider the impact on corporate income and sales taxes.

Recent IRS advice provides favorable results for restaurants regarding capitalizing costs to ending inventory under section 263A.