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Policy snapshot: Specialty finance

Policy snapshot: Specialty finance

Middle market consumer loan companies and loan servicers will most likely face a dramatically different regulatory environment.
Policy snapshot: Technology, media and telecom

Policy snapshot: Technology, media and telecom

We expect the Biden administration will bring heightened oversight of anti-competitive behaviors, and the privacy and security of data.
Final regulations released on separately computing UBTI

Final regulations released on separately computing UBTI

Treasury and the IRS release final guidance to exempt organizations for separately computing UBTI under section 512(a)(6).
Some states appear to hold the line on taxes most wont

Some states appear to hold the line on taxes most wont

Four states have adopted or are considering budgets without significant tax increases even considering pandemic shortfalls.
Policy snapshot: Health care

Policy snapshot: Health care

Biden will want to strengthen and expand the Affordable Care Act; however, he could face Senate opposition.
Middle Market Business Index Holds Steady in October, as U.S. Economy Remains on Track for Recovery

Middle Market Business Index Holds Steady in October, as U.S. Economy Remains on Track for Recovery

The RSM US Middle Market Business Index (MMBI), presented by RSM in partnership with the U.S. Chamber of Commerce, remained steady in October, indicating that the U.S. economy is continuing to emerge from the pandemic-induced recession.
IRS issues additional PPP deductibility guidance with safe harbor

IRS issues additional PPP deductibility guidance with safe harbor

IRS clarifies deduction disallowance for expenses funded by PPP and issues safe harbor for borrowers that forgo or are denied forgiveness.
IRS Commissioner rejects blanket COVID-19 penalty relief

IRS Commissioner rejects blanket COVID-19 penalty relief

IRS Commissioner rejects blanket COVID-19 penalty relief and instead urges taxpayers to use first time abatement and reasonable cause.
FASB to propose goodwill impairment triggering event alternative

FASB to propose goodwill impairment triggering event alternative

The FASB will propose an ASU that would provide a goodwill impairment triggering event alternative for certain entities.
Policy snapshot: Government contracting

Policy snapshot: Government contracting

The new Democratic White House hopes to usher in an extended period of greater government spending.
Treasury Priority Guidance Plan 2020-2021 – Exempt Organizations

Treasury Priority Guidance Plan 2020-2021 – Exempt Organizations

The Treasury 2020-2021 Priority Guidance Plan contains numerous anticipated projects affecting exempt organizations.
IRS updates Employee Retention Credit FAQs for M&A, Tribal Governments

IRS updates Employee Retention Credit FAQs for M&A, Tribal Governments

The IRS has updated six questions in their Employee Retention Credit FAQ document on Tribal Governments and PPP loans in acquisitions.
RSM manufacturing index breaks above two-year downtrend

RSM manufacturing index breaks above two-year downtrend

A rebound in U.S. manufacturing sentiment to the pre-trade war levels of summer 2018 implies that the economy is moving toward recovery.
Middle market trend watch: Inventory data and holiday spending

Middle market trend watch: Inventory data and holiday spending

A modest improvement. The RSM US Middle Market Business Index improved to 128.0 in September from 124.9 in August.
Fed policy to remain steady amid economic uncertainty

Fed policy to remain steady amid economic uncertainty

The Fed remains the only game in town when it comes to providing sustained accommodation to an impaired economy.