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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.
Reevaluating procurement companies and supply chains in the COVID era

Reevaluating procurement companies and supply chains in the COVID era

The COVID economy and virtual transformation may provide the right opportunity to take control of supply chain management.
Forgiven PPP loans are not reportable on Form 1099C

Forgiven PPP loans are not reportable on Form 1099C

IRS Announcement 2020-12 clarifies that lenders need not issue form 1099-C reporting PPP loans eligible for forgiveness under the CARES Act.
Avoiding an enforcement action through an effective compliance program

Avoiding an enforcement action through an effective compliance program

A sound compliance program will help protect your company from regulatory enforcement, should your industry become a target by regulators.
New rule puts spotlight on ESG investing in retirement plans

New rule puts spotlight on ESG investing in retirement plans

As investors increasingly focus on ESG issues, one important question remains: What is the true purpose of ESG?
Tax Summit Week 2020 Covered Ground

Tax Summit Week 2020 Covered Ground

A recap of presentations, top questions and highlights from virtual sessions held at the 2020 RSM annual tax summit.
Transitional FAQs:  Amended Regulation S-K Items 101, 103 and 105

Transitional FAQs: Amended Regulation S-K Items 101, 103 and 105

The SEC has provided transitional FAQs in response to questions about amended Regulation S-K Items 101, 103 and 105.
RSM Middle Market Business Index: October 2020

RSM Middle Market Business Index: October 2020

The improvement in economic activity following the gradual reopening of the economy this spring bolstered middle market business sentiment.
IRS releases 2021 TE/GE program letter and compliance priority webpage

IRS releases 2021 TE/GE program letter and compliance priority webpage

The TE/GE division’s 2021 program letter contains a summary of its priorities for the fiscal year and a new compliance priority webpage.
IRS confirms that pass-throughs not subject to SALT deduction limit

IRS confirms that pass-throughs not subject to SALT deduction limit

The IRS will release proposed regulations confirming the SALT deduction limit will not apply to entity-level taxes imposed on pass-throughs.
Even a 50-50 Senate would mean uncertainty for Joe Biden’s tax plan

Even a 50-50 Senate would mean uncertainty for Joe Biden’s tax plan

Joe Biden’s tax plan will face challenges from a divided Senate, but there is a potential path to enacting at least some changes.
IRS issues procedures to apply bonus regulations retroactively

IRS issues procedures to apply bonus regulations retroactively

Procedural guidance provides taxpayers with an opportunity to apply bonus depreciation regulations retroactively and reconsider elections.