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Accounting for acquired revenue contracts with customers

Accounting for acquired revenue contracts with customers

The FASB recently addressed how an acquirer should recognize and measure revenue contracts acquired in a business combination.
Mitigations and Hardening Guidance for MSPs and Small and Mid-sized Businesses

Mitigations and Hardening Guidance for MSPs and Small and Mid-sized Businesses

The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.
FASB project updates: ASC 326, Financial Instruments – Credit Losses

FASB project updates: ASC 326, Financial Instruments – Credit Losses

The FASB recently provided two project updates related to its post-implementation review of Accounting Standards Update 2016-13.
Private company practical expedient

Private company practical expedient

The FASB recently provided a practical expedient to private companies that issue equity-classified share-based awards.
Nonqualified deferred compensation plans and payroll tax withholding

Nonqualified deferred compensation plans and payroll tax withholding

One of the most common issues overlooked by employers relates to the special timing rule in section 3121(v)(2).
Approaching deadline for COVID-19-related cafeteria plan amendments

Approaching deadline for COVID-19-related cafeteria plan amendments

By Dec. 31, 2021, any employer that made COVID-19-related changes to the operation of its cafeteria plan must adopt formal amendments.
How advanced technologies can streamline supply chains

How advanced technologies can streamline supply chains

Advanced technologies can help manufacturers achieve better situational awareness of their supply networks. Learn more.
IRS adds vehicles to section 30D qualified electric vehicle list

IRS adds vehicles to section 30D qualified electric vehicle list

IRS adds 12 new 2022 vehicles eligible for tax credit of up to $7,500, including vehicles manufactured by Hyundai, Kia, Mitsubishi and Ford.
Notice 2021-56 proposes section 501(c)(3) exemption standards for LLCs

Notice 2021-56 proposes section 501(c)(3) exemption standards for LLCs

The IRS recently announced new requirements for LLCs to qualify as exempt organizations under section 501(c)(3).
Board risk assessment: Where’s the focus?

Board risk assessment: Where’s the focus?

Risk. Such a broad topic, but boards are ultimately responsible to investors and others for the all-encompassing task of risk oversight.
Can each company in your group support its interest deductions?

Can each company in your group support its interest deductions?

Recent IRS advice notes that a company group including several companies must support the interest deductions claimed by a specific company.
IRS campaign targeting US taxpayers in Puerto Rico is well underway

IRS campaign targeting US taxpayers in Puerto Rico is well underway

This article discusses implications of the recent IRS campaign targeting US expatriates to Puerto Rico and related tax issues.
Life sciences: IPO and public market update

Life sciences: IPO and public market update

The road to IPO for life sciences companies is complex and requires significant time to plan and execute to ensure success. Are you ready?
IRS updates Frequently Asked Questions policy

IRS updates Frequently Asked Questions policy

IRS changes FAQ policy regarding new tax legislation and offers reliance on FAQs as reasonable cause defense to accuracy-related penalties.
IRS continues Research Credit Refund Fight

IRS continues Research Credit Refund Fight

IRS provides guidance about specificity requirement for filing refund claims for IRC section 41 research credit.