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IRS adds vehicles to qualified plug-in vehicle list

IRS adds vehicles to qualified plug-in vehicle list

The IRS has added the 2021 Hyundai Ioniq to list of vehicles eligible for section 30D credit affecting buyers and lessors of these vehicles.
New IRS guidance on ADS recovery period of residential rental property

New IRS guidance on ADS recovery period of residential rental property

Guidance provides procedures to implement the retroactive 30-year ADS recovery period for residential rental property.
Wayfair nexus turns three by celebrating near universal adoption

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.
Proposed guidance: Discount rate for lessees that are not PBEs

Proposed guidance: Discount rate for lessees that are not PBEs

The FASB has proposed allowing lessees that are not PBEs to make the risk-free rate election by class of underlying asset.
Cybercrime risk: Top middle market vulnerabilities

Cybercrime risk: Top middle market vulnerabilities

Cybercrime is still on the rise. Here are key statistics from RSM's 2021 Middle Market Business Index Cybersecurity Report.
Retirement Report: Third Quarter 2021

Retirement Report: Third Quarter 2021

In this issue of the Retirement Advisory Report, we discuss 2021 updates to regulations that may affect you and your retirement plan.
IRS offers narrow window for some partnership to file amended returns

IRS offers narrow window for some partnership to file amended returns

Partnerships making certain narrow, and specified changes, may not need to file administrative adjustment requests.
Illinois enacts fiscal year 2022 budget with tax changes

Illinois enacts fiscal year 2022 budget with tax changes

Significant tax changes made to GILTI, bonus depreciation, net operating loss limitations and the phase-out of the state’s franchise tax.
Digital transformation: A next-step guide for board members

Digital transformation: A next-step guide for board members

3 ways to upgrade your digital transformation strategy: Do it on your own, with a technology vendor, or with an experienced partner.
Business vulnerability: 4 lessons learned from the COVID-19 pandemic

Business vulnerability: 4 lessons learned from the COVID-19 pandemic

Learn from the business vulnerability lessons organizations experienced throughout the COVID-19 pandemic. Read now.
The European Commission announces proposal for EU business taxation

The European Commission announces proposal for EU business taxation

The European Commission proposes a new framework for business taxation with measures that promote an effective tax structure in the EU.
Building your risk management strategy framework

Building your risk management strategy framework

Stress-testing your risk management strategy can address business vulnerabilities that could lead to unacceptable levels of risk.
Iowa continues tax reform efforts into 2021

Iowa continues tax reform efforts into 2021

Tax bill makes significant changes to rules affecting income taxes, inheritance taxes, credits, bonus depreciation and federal conformity.
North Carolina tax reform: Big, bold and controversial

North Carolina tax reform: Big, bold and controversial

North Carolina Senate pushes forward major tax reform bill, continuing down the path to repeal the state’s corporate income tax.
IRS memo endorses using depreciation method change in ATI calculation

IRS memo endorses using depreciation method change in ATI calculation

IRS concludes that a section 481(a) adjustment retains its character as depreciation when computing a taxpayer’s ATI for section 163(j).