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There is more to ransomware recovery than decrypting the systems

There is more to ransomware recovery than decrypting the systems

Four easy steps to plan ahead to facilitate a faster recovery and minimize the chaos in the event of a ransomware attack.
Nonpublic entities’ disclosures about Level 3 fair value measurements

Nonpublic entities’ disclosures about Level 3 fair value measurements

Our updated white paper discusses ASC 820 fair value measurement disclosures that were and were not affected by ASU 2018-13.
The impact of NOL carryback on the foreign tax credit

The impact of NOL carryback on the foreign tax credit

The CARES Act enacted a temporary suspension of the TCJA’s 80% limitation on the use of NOLs, this will impact FTC and ODL calculations.
IRS issues digital asset updates to staff manual and draft Form 1040

IRS issues digital asset updates to staff manual and draft Form 1040

Updated IRS materials suggest a renewed and heightened focus on the reporting of virtual currency transactions by taxpayers.
Foreign tax credit regulations disallow credit for digital taxes

Foreign tax credit regulations disallow credit for digital taxes

Final FTC regulations provide clarity while Treasury takes a stance against permitting a credit for digital taxes in new proposed rules.
Fraud considerations in the Paycheck Protection Program

Fraud considerations in the Paycheck Protection Program

Given the lack of due diligence executed for each PPP application, it’s likely there will be a number of violations uncovered in the future.
SEC amends certain auditor independence requirements

SEC amends certain auditor independence requirements

The SEC recently updated certain of its auditor independence requirements to more effectively focus the independence analysis.
2020 Election preview: Family offices

2020 Election preview: Family offices

With the election approaching, RSM is looking at the economic stakes and the key issues for family offices.
The board’s role in digital transformation

The board’s role in digital transformation

How boards of directors can help drive innovation within their organizations even during the COVID-19 pandemic.
Tech tumbled, ended risk asset rally

Tech tumbled, ended risk asset rally

U.S. dollar strengthened in September as the existing monetary stimulus wane and expectations for fiscal stimulus before the election fade.
Revised FATF standards on virtual assets and virtual asset providers

Revised FATF standards on virtual assets and virtual asset providers

FATF Recommendation 16 calls for VA service providers to collect sender, receiver information and counterparty institution for transactions.
Tax Court holds section 6662(i) is not a separate penalty

Tax Court holds section 6662(i) is not a separate penalty

Section 6662(i) 40% penalty is an enhancement of section 6662(b)(6). Failed approval of section 6662(b)(6) cannot be cured later.
IRS announces end date of faxed submissions for Forms 1139 and 1045

IRS announces end date of faxed submissions for Forms 1139 and 1045

The IRS announced that December 31, 2020 will be the last date to submit tentative net operating loss carryback claims via fax.
FinCEN final rule for banks without a federal functional regulator

FinCEN final rule for banks without a federal functional regulator

Final Rule removes the PATRIOT Act anti-money laundering program exemption for banks that lack a federal functional regulator.
FATF report on virtual assets

FATF report on virtual assets

FATF released red flag indicators to assist in preventing criminal, ML and terrorist financing activities associated with VAs.