Safe Harbor Provides Path Forward to Deducting PPP Loan Expenses
The IRS once again addressed the deductibility of eligible Paycheck Protection Program (PPP) loan expenses. On Wednesday November 18th, the IRS released Revenue Ruling 2020-27
Laying a Firm Foundation for a Successful Digital Transformation
As the construction industry continues to grapple with the effects of the COVID-19 pandemic, some in the industry are looking for digital solutions to help
IRS Introduces New Form 1099-NEC for 2020 Tax Year Reporting
Beginning in January of 2021, the IRS will require businesses to report non-employee compensation using a new Form 1099-NEC. Amounts formerly reported on Form 1099-MISC
Webinars: Financial Reporting Model Improvements
The Governmental Accounting Standards Board (GASB) has set about to reexamine state and local government financial reporting in an effort to improve the reporting model.
Audit committee resource: Auditing estimates and use of specialists
(authored by RSM US LLP) A PCAOB resource provides information for audit committees about new requirements for auditing estimates and use of specialists.
HHS Provider Relief Fund and AICPA health care expert panel
(authored by RSM US LLP) Join RSM for an update on HHS Provider Relief Fund reporting requirements and compliance implications for the CARES Act.
IRS confirms that pass-throughs not subject to SALT deduction limit
(authored by RSM US LLP) The IRS will release proposed regulations confirming the SALT deduction limit will not apply to entity-level taxes imposed on pass-throughs.
What to Expect from Biden’s Tax Policy
The last week has been intense from a political perspective, and we are still in limbo from a tax planning perspective. Usually when we are
IRS issues final regulations for sales of partnership interests
(authored by RSM US LLP) Final section 864(c)(8) regulations clarify rules for foreign partners with ECI from transfers of partnership interests.
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