INSIGHTS AND RESOURCES

Employee retention credit significantly expanded for 2021

Employee retention credit significantly expanded for 2021

The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.
Updates to our hedging guide for reference rate reform

Updates to our hedging guide for reference rate reform

We have updated our hedging guide to refer to certain temporary optional expedients and exceptions included in ASC 848.
Treasury issues final aviation excise tax regulations

Treasury issues final aviation excise tax regulations

Final air transportation excise tax regulations provide rules for aircraft management services exemption and update prior regulations.
FASB clarifies scope of reference rate reform guidance

FASB clarifies scope of reference rate reform guidance

The FASB has clarified that certain ASC 848 expedients and exceptions apply to derivatives affected by the discounting transition.
Nexus in a post-Wayfair world

Nexus in a post-Wayfair world

Business and professional services providers should consider whether sales tax collection is necessary in the wake of the Wayfair decision.
Deferred tax asset valuation allowance

Deferred tax asset valuation allowance

Our article discusses weighting evidence in discerning whether a valuation allowance should be recognized for deferred tax assets.
RSM US Middle Market Business Index: Middle market reopening, part 2

RSM US Middle Market Business Index: Middle market reopening, part 2

To be successful, middle market organizations need to start thinking about how to further operationalize their collaboration.
IRS partially finalizes passthrough interest limitation regulations

IRS partially finalizes passthrough interest limitation regulations

Final regulations address self-charged interest and trading partnerships, but reserve on tiered partnerships and other items.
IRS and Treasury release final carried interest rules

IRS and Treasury release final carried interest rules

Final carried interest regulations ease rules for capital interest allocations as well as related party transfers.
ASC 740: Year-end provision considerations for 2020

ASC 740: Year-end provision considerations for 2020

A roundup of considerations for companies while preparing income tax provisions for the year-ended Dec. 31, 2020.
Additional section 163(j) final regulations released

Additional section 163(j) final regulations released

New final regulations include rules for CFCs, depreciation/amortization ‘add-back recapture’ and self-charged interest.
Game-changing updates to the Employee Retention Tax Credit

Game-changing updates to the Employee Retention Tax Credit

Paycheck Protection Program (PPP) loan recipients may now qualify for the employee retention tax credit based on new legislation signed.
Georgia jobs tax credits available to businesses hiring telecommuters

Georgia jobs tax credits available to businesses hiring telecommuters

Georgia has expanded the state jobs tax credit to apply to businesses hiring telecommuting employees in 2020 or 2021.
PPP reopening for first draw borrowers Jan. 11; second draw Jan. 13

PPP reopening for first draw borrowers Jan. 11; second draw Jan. 13

Treasury Department and SBA announce reopening dates for Paycheck Protection Program - Jan. 11, 2021 and Jan. 13, 2021.
Consolidated Appropriations Act of 2021 includes disaster relief

Consolidated Appropriations Act of 2021 includes disaster relief

Disaster relief may provide liquidity for individuals and businesses located in areas affected by presidentially declared disasters.