Biden’s clean energy proposals and the consumer products industry
Details of President Biden’s proposals for prioritizing clean energy and its potential effect on the consumer products industry
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State tax law changes for the second quarter of 2021
A summary of important updates for determining deferred tax provision under ASC 740 for the quarter ending June 30, 2021.
Nebraska enacts new sales and use tax exemption for ethanol producers
Nebraska broadly exempts manufacturing inputs used by ethyl alcohol producers from the sales and use tax effective Oct. 1, 2021.
Colorado enacts numerous tax-related bills
Trio of tax bills impact individual and business filers with significant corporate income tax changes scheduled for 2022.
Wayfair nexus turns three by celebrating near universal adoption
Three years after the Wayfair decision, economic sales tax nexus has become the norm, but unanswered questions and numerous issues remain.
Nebraska cuts corporate income tax rates
Nebraska enacts corporate income tax rate reductions over the next two years while promising more reductions in subsequent measures.
White House releases President’s budget, Treasury Greenbook
Administration issues Presidential priorities and pay-fors. Corporations and wealthy individuals face prospect of increasing tax rates.
New IRS guidance on health FSAs and dependent care assistance programs
IRS provides guidance on dependent care assistance program enhancements made due to COVID-19-related legislation.
As income tax rates increase, beware of certain deferral strategies
Tax-deferral techniques—possibly spurred by a potential increase to capital gains rates—must be scrutinized, as evidenced by this IRS memo
IRS issues PPP expense deduction safe harbor for fiscal year taxpayers
IRS safe harbor for fiscal year taxpayers on accounting period in which to deduct PPP expenses provides choices and certainty.
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.
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.
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.
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.