Videos and Articles
Retirement plans under the Consolidated Appropriations Act, 2021
The Act does not lengthen CARES Act COVID plan relief, but offers relief for non-COVID disasters, partial terminations and pension plans.
The Consolidated Appropriations Act, 2021
On December 27, 2020, the President signed the Consolidated Appropriations Act, 2021 into law. In this video, we cover the major provisions of the $900 billion stimulus relief package that affect businesses and individuals.
Long-awaited rules issued on income recognition for accrual taxpayers
Final regulations provide accrual taxpayers certain flexibility for recognizing income and offer sought-after cost offset for sale of goods.
Congress passes appropriations bill, containing COVID-19 relief bill
Last minute negotiations pave way for Congress to pass second major COVID-19 stimulus package with tax law changes and tax extenders.
Congress passes law containing PPP tax fix; second-draw program
After negotiations go to the 11th hour, Congress passes tax fix for PPP, changes to loan forgiveness and establishes second-draw program.
IRS TEGE extends COVID-19 modifications to examination procedures
TEGE will continue to provide flexibility on IDR enforcement timelines and modified examination procedures due to COVID-19.
Beware of traps with paid time off policies
Some common paid time off (PTO) policy features cause taxable income to unexpected parties at unexpected times. Learn more here.
Progress continues on PPP deductibility ‘fix’
Last push for stimulus funding before year-end provides PPP deductibility obviating need to plan around nondeductibility of PPP expenses.
IRS creates new Form 1099-NEC for filing year 2020
The IRS created a new Form 1099-NEC to report nonemployee compensation with a different due date than Form 1099-MISC.
IRS issues interim guidance on backlog of fuel credit claims
The IRS has developed new guidance for processing interest bearing fuel claims, including one-time claims for alternative fuel credits.
RSM Middle Market Business Index: November 2020
The MMBI eased to 123.6 in November from 126.7 in October, reflecting stout middle market business conditions.
IRS issues guidance on 401(k) and 403(b) Plans
IRS guidance on the 15% maximum on automatic contributions, 401(k) and 403(b) plan safe harbor requirements, and plan loan offset rollovers.
Keep your head – and your construction business – in the cloud
Technology is serving as a catalyst to reshape the economy and the construction industry is not immune to this digital transformation.
PPP Loan Forgiveness and Tax Planning
Recent guidance from the IRS concerning PPP loan expense deductions may have a significant effect on when you apply for forgiveness and how to maximize your loan forgiveness amount. In this video, we will share the latest IRS guidance on expense deductions, their potential impact on the amount of forgiveness you may receive, and some basics of the loan application process.
Payment and deduction of CARES Act employer Social Security deferral
Employers may wish to pay Social Security taxes deferred under the CARES Act before the due date and should consider certain items.