Will proposed corporate, international tax changes survive Congress?
President Biden’s proposed changes to corporate and international taxes face Congressional obstacles. RSM examines what’s ahead.
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Making sense of inflation: Learnings from post-recession recoveries
We anticipate the relative stability and moderate growth that characterized the decade long recovery from the Great Recession.
Senate passes extension of Paycheck Protection Program to May 31
PPP extension clears Senate. Program to be extended to May 31, with 30 days provided after May 31 for SBA to process pending applications.
9 important tax topics for individuals and business owners in 2021
Managing significant tax changes will ensure individuals and businesses are positioned for success for the remainder of 2021 and beyond.
Economics of the $1.9 trillion American Rescue Plan Act
The American Rescue Plan Act will provide a robust tailwind to the domestic economy as it recovers from the pandemic.
President Biden signs American Rescue Plan Act of 2021
$1.9 trillion COVID-19 relief plan with broad individual relief and new coronavirus-related funding enacted into law.
2021 Gifts – Buyer beware of the risk of retroactivity
From retroactivity to loss of planning techniques, this year we face a unique set of concerns when considering gift and estate planning.
Guidance issued for employers claiming the Employee Retention Credit
Notice 2021-20 clarifies retroactive changes made to ERTC and PPP interaction and incorporates several previous frequently asked questions.
Criminal acts alleging crypto related crime expected to rise in 2021
Experts expect more cryptocurrency-related crimes, and the regulatory and enforcement environment is evolving in an attempt to keep pace.
Employee Retention Credit: Answers to frequently asked questions
The Employee Retention Credit provides liquidity benefits for many businesses and was significantly expanded for 2020 and 2021.
Enhanced charitable deductions extended for individuals through 2021
Stimulus legislation extends through 2021 the 100% of AGI deduction for itemizers and availability of a deduction for non-itemizers.
Colorado restores certain business deductions related to the CARES Act
Colorado enacts law restoring certain deductions related the to the CARES Act for both business and individual taxpayers.
New IRS guidance on health FSAs and dependent care assistance programs
Employers can add flexibility to their health flexible spending accounts and dependent care assistance programs per Notice 2021-15.
PPP forgiveness and expenses: State tax implications
States may not allow the gross income tax exclusion provided by the federal program, resulting in taxable discharge of indebtedness income.
President Biden’s tax plan
Taxpayers should familiarize with Biden’s plan, remain vigilant for developments and position themselves to act at the appropriate times.
IRS releases final 199A regulations for co-ops and their patrons
Final regulations on the section 199A deduction and the DPAD for certain specified co-ops closely mirror guidance in proposed regulations.