RSM Middle Market Business Index: April 2021
(authored by RSM US LLP) Middle market business conditions improved in April as the prospect of rising revenues and net earnings offset cost pressures.
FASB staff clarifying comments on new goodwill impairment alternative
(authored by RSM US LLP) The FASB staff recently made clarifying comments related to the new goodwill impairment triggering event alternative.
Being deemed essential doesn’t preclude ERTC eligibility
(authored by RSM US LLP) Construction firms forced to reduce or cancel operations by jurisdictional order may meet employee retention credit eligibility requirements
The IRS provides further guidance on the Employee Retention Tax Credit
(authored by RSM US LLP) The Relief Act made changes on how the Employee Retention Tax Credit works during the first two quarters of 2021.
A Conversation with the Authors of Deconstructed
Immigration is arguably one of the most divisive issues the United States faces today. As the leader of one of the largest specialty subcontracting firms
Senate passes extension of Paycheck Protection Program to May 31
(authored by RSM US LLP) PPP extension clears Senate. Program to be extended to May 31, with 30 days provided after May 31 for SBA to process pending applications.
Guidance issued for employers claiming the Employee Retention Credit
(authored by RSM US LLP) Notice 2021-20 clarifies retroactive changes made to ERTC and PPP interaction and incorporates several previous frequently asked questions.
Worker Classifications – Where Are We Now, and Where Are We Headed?
When California passed its famed gig worker bill in 2019, businesses all over the nation took notice. This landmark bill required many businesses to convert
Additional section 163(j) final regulations released
(authored by RSM US LLP) New final regulations include rules for CFCs, depreciation/amortization ‘add-back recapture’ and self-charged interest.
IRS partially finalizes passthrough interest limitation regulations
(authored by RSM US LLP) Final regulations address self-charged interest and trading partnerships, but reserve on tiered partnerships and other items.
Proposed accounting for acquired revenue contracts with customers
(authored by RSM US LLP) A recent proposed ASU addresses the accounting for revenue contracts with customers acquired in a business combination.
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