SBA formally withdraws loan necessity questionnaire
(authored by RSM US LLP) Small Business Administration, in light of lawsuit, notifies PPP lenders that loan necessity questionnaire is withdrawn.
Worker Classification Guidelines Not Changing Yet
In January, the Department of Labor (DOL) published a final rule that detailed how a business was to determine a worker’s employment status under the
Businesses Required to Subsidize COBRA Premiums Will Be Reimbursed with Payroll Tax Credits
To help Americans struggling with job loss, the American Rescue Plan Act of 2021 (ARPA) will subsidize the costs of COBRA insurance premiums effective April
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?
Note: legislation around worker classification is evolving. Find LaPorte’s more recent blog on this topic here. When California passed its famed gig worker bill in
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.