Ideas & Insights

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.

A summary of important updates for determining deferred tax provision under ASC 740 for the quarter ending March 31, 2021.

Comprehensive legislation addresses conformity, Paycheck Protection Program expense deduction, CAT exclusions and pass-through withholding.

Claimants not entitled to alternative fuel credit after IRS found activity did not qualify, despite issuance of IRS 637 registration.

Expanded FAQs further clarify that institutions do not report grant funds paid to students, and students do not include amounts in income.

A recent Center for Audit Quality publication provides an overview of the role of auditors in company-prepared ESG information.

This Alert describes and explains the postponement of certain federal tax filing and payment deadlines in IRS Notice 2021-21.

Equities rallied, notably small cap and value stocks, amid more vaccine progress and the anticipation of more stimulus.

Kentucky passes a series of tax bills intended to attract cryptocurrency miners with new exemptions and credits.

A recent FASB Educational Paper provides an overview of the intersection of ESG matters with financial accounting standards.

PPP extension clears Senate. Program to be extended to May 31, with 30 days provided after May 31 for SBA to process pending applications.

The Iowa Department of Revenue advises taxpayers that Employee Retention Credit-related wage deduction reductions apply at the state level.

Our white papers have been updated with more information regarding the accounting for PPP loans and the Employee Retention Credit.

The new pass-through entity level tax may benefit some individuals subject to the $10,000 SALT deduction limitation.