INSIGHTS AND RESOURCES

Proposed PFIC regulations revise reporting by US partnerships

Proposed PFIC regulations revise reporting by US partnerships

IRS issued proposed PFIC regulations which impact US partners with foreign assets held through US partnerships.
Navigating the uncertain fates of Build Back Better and key tax issues

Navigating the uncertain fates of Build Back Better and key tax issues

Uncertainty about significant tax changes proposed in the Build Back Better bill require attention and action from taxpayers.
Family office dream team

Family office dream team

An effective family office requires the right mix of internal and external capabilities to balance best-in-cost with best-in-class.
IRS releases new guidance on R&D credit refund claim procedure

IRS releases new guidance on R&D credit refund claim procedure

The IRS released a memorandum and FAQs to provide procedural guidance regarding R&D credit refund claims on amended tax returns.
Smile! New IRS identity verification process requires a selfie

Smile! New IRS identity verification process requires a selfie

The IRS is tackling identity theft by using ID.me verification technology to guard access to online services.
Private equity fund 2021 year-end global updates

Private equity fund 2021 year-end global updates

This alert covers certain key 2021 global developments that may impact tax planning with respect to private equity funds in 2022.
New fast-track program for corporate PLRs cuts process time in half

New fast-track program for corporate PLRs cuts process time in half

New pilot program under Rev. Proc. 2022-10 provides fast-track processing for corporate PLRs in 12 weeks’ time.
Congress open to considering a pause on automated tax notices

Congress open to considering a pause on automated tax notices

National Taxpayer Advocate, Erin Collins, recommends the IRS pause automated collection notices. Congress may consider the recommendation.
RSM Survey Shows How COVID-19 Has Influenced a Transformation of the Working World

RSM Survey Shows How COVID-19 Has Influenced a Transformation of the Working World

A permanent workforce transformation is well underway in the middle market, according to the RSM US Middle Market Business Index (MMBI) Back to Work Special Report, presented by RSM in partnership with the U.S. Chamber of Commerce.
Nonprofit improves both their tech and financial functions

Nonprofit improves both their tech and financial functions

Learn how Design-Build Institute of America addressed their nonprofit challenges and improved operational efficiency through outsourcing
Senate Finance releases Build Back Better text

Senate Finance releases Build Back Better text

Senate Finance Committee Build Back Better language largely leaves House Bill unchanged. SALT language omitted as well as billionaires’ tax.
Proposed amendments to section 1202: Effect on federal tax liability

Proposed amendments to section 1202: Effect on federal tax liability

Under the BBB Act, only the 50% gain exclusion would be available to taxpayers that sell QSBS. How would this affect their tax liability?
Looking ahead to 2022

Looking ahead to 2022

Nearly two years into the pandemic, there are signs that the worst of a once-in-a-century shock to the global economy is beginning to fade.
Corporate leadership: Resilience and reinvention

Corporate leadership: Resilience and reinvention

Boards of directors that help instill resilience and encourage reinvention will help their companies endure and grow from crises.
IRS releases guidance on Q4 removal of employee retention credit

IRS releases guidance on Q4 removal of employee retention credit

Employers need to react quickly to the new guidance to pay in amounts as if they were incurred on Dec. 31, 2021.