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FASB proposes goodwill impairment triggering event alternative

FASB proposes goodwill impairment triggering event alternative

FASB proposes a goodwill impairment triggering event alternative for certain private companies and not-for-profit entities.
COVID-19 relief Act extends and improves many credits and incentives

COVID-19 relief Act extends and improves many credits and incentives

The 2021 Consolidated Appropriations Act passes Congress and includes many extended and improved tax credits and incentives.
Congress passes appropriations bill, containing COVID-19 relief bill

Congress passes appropriations bill, containing COVID-19 relief bill

Last minute negotiations pave way for Congress to pass second major COVID-19 stimulus package with tax law changes and tax extenders.
Permanent excise tax breaks for craft brewers, wineries and distillers

Permanent excise tax breaks for craft brewers, wineries and distillers

Industry backed legislation passed by Congress to make permanent excise tax rate reductions for craft beer, wine, and distilled spirits.
A business guide to the December coronavirus relief package

A business guide to the December coronavirus relief package

The package provides additional funding for the Paycheck Protection Program and allows certain borrowers to draw second round of PPP funding
Congress passes law containing PPP tax fix; second-draw program

Congress passes law containing PPP tax fix; second-draw program

After negotiations go to the 11th hour, Congress passes tax fix for PPP, changes to loan forgiveness and establishes second-draw program.
Final regulations implement TCJA changes to section 162(m)

Final regulations implement TCJA changes to section 162(m)

The final regulations implement the amendments made to section 162(m) by the TCJA and largely mirror last year's proposed regulations.
Mandatory Form 4720 e-filing delayed for private foundations

Mandatory Form 4720 e-filing delayed for private foundations

Notice 2021-01 provides that private foundations may paper file Form 4720 until electronic filing of the form becomes available in 2021.
Proposed accounting for acquired revenue contracts with customers

Proposed accounting for acquired revenue contracts with customers

A recent proposed ASU addresses the accounting for revenue contracts with customers acquired in a business combination.
IRS issues interim guidance on backlog of fuel credit claims

IRS issues interim guidance on backlog of fuel credit claims

The IRS has developed new guidance for processing interest bearing fuel claims, including one-time claims for alternative fuel credits.
HEERF grants not required to be reported on Form 1098-T

HEERF grants not required to be reported on Form 1098-T

The IRS provides welcome guidance to higher education institutions that made emergency relief grants to students.
2 ways cybercriminals can breach your health care organization

2 ways cybercriminals can breach your health care organization

What should you and your health care organization be watchful for and how can you mitigate these cyber risks?
IRS issues guidance on 401(k) and 403(b) Plans

IRS issues guidance on 401(k) and 403(b) Plans

IRS guidance on the 15% maximum on automatic contributions, 401(k) and 403(b) plan safe harbor requirements, and plan loan offset rollovers.
IRS issues final regulations on parking and commuting deductions

IRS issues final regulations on parking and commuting deductions

The regulations largely mirror the proposed regulations with additional, mostly favorable, clarifications for taxpayers.
Request for comment: Travel Rule threshold adjustment

Request for comment: Travel Rule threshold adjustment

FinCEN and the Federal Reserve have determined that virtual assets are defined as money, expanding definitions, policies, and oversight.