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US LLP) Small Business Administration, in light of lawsuit, notifies PPP lenders that loan necessity questionnaire is withdrawn.
Reporting Requirements Changed Yet Again for Recipients of Provider Relief Funds
The U.S. Department of Health and Human Services (HHS) once again revised the reporting requirements for recipients of provider relief funds (PRF). In a notice
Coronavirus: Updates about certain Provider Relief Fund requirements
(authored by RSM US LLP) We updated the discussion about certain government assistance in our Coronavirus: Financial reporting considerations white paper.
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.
Implementing GASB 87: Government entities learn from public companies
(authored by RSM US LLP) Government entities are finding GASB 87 compliance, the Government Accounting Standards Board’s new standard on lease accounting, complex.
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.
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.
Do You Have Support for Your Provider Relief Fund Payments?
The U.S. Department of Health and Human Services (DHHS), the entity charged with overseeing the Provider Relief Fund (PRF), requires recipients of program funds to
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.
How Should Provider Relief Funds Be Presented on the Financial Statements?
The healthcare industry struggled to make ends meet during much of 2020. Even when coronavirus-related hospitalizations increased, healthcare systems, physicians, and a host of other
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.