(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.
(authored by RSM US LLP) Investors need to slow down enough to get their arms around the potential tax ramifications of any real estate acquisition.
(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.
(authored by RSM US LLP) Notice 2021-20 clarifies retroactive changes made to ERTC and PPP interaction and incorporates several previous frequently asked questions.
(authored by RSM US LLP) New final regulations include rules for CFCs, depreciation/amortization ‘add-back recapture’ and self-charged interest.
(authored by RSM US LLP) Final regulations address self-charged interest and trading partnerships, but reserve on tiered partnerships and other items.
(authored by RSM US LLP) The program, scheduled to expire on Dec. 31, 2020, received a five-year extension under the recent federal spending bill.
(authored by RSM US LLP) A recent proposed ASU addresses the accounting for revenue contracts with customers acquired in a business combination.