Tax Increases Resurface with Manchin’s Support of New Reconciliation Framework
Tax proposals in a revived reconciliation measure include a 15% corporate minimum tax, a boost to IRS enforcement and carried interest modifications.
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.
Democrats Release Draft Bill to Overhaul U.S. International Tax Rules
Senate Finance Chairman Wyden unveils draft international tax reform bill that would overhaul GILTI, FDII and BEAT rules.
IRS Issues Procedural Guidance for the New Revenue Recognition Rules
The IRS released guidance allowing automatic accounting method changes for taxpayers to follow the final revenue recognition regulations.
The IRS Takes Aim at High Net Worth Individuals
A discussion on the IRS concern with non-filers and what can be done to mitigate the risk is provided in this article.
Addressing Risks in Your Health Care Organization
A successful risk assessment and internal audit can help locate high-risk areas within your health care organization.
IRS Enhances Employee Retention Credit Guidance for Open Questions
Notice 2021-49 provides answers on previously uncertain issues and addresses changes implemented in the American Rescue Plan Act.
Webinar Recording: Are You Ready for ASC 842? Simplify Your Lease Accounting
As the recovery continues, many businesses and exempt organizations are taking another look at the new lease accounting standard and requirements. Learn how to simplify the process.
SBA Formally Withdraws Loan Necessity Questionnaire
Small Business Administration, in light of lawsuit, notifies PPP lenders that loan necessity questionnaire is withdrawn.
How Private Clubs Can Claim the Employee Retention Credit When Restrictions Are Lifted
Most state and local governments have been lifting COVID-19 restrictions, leaving club management wondering how and if they still qualify for the ERC, especially in the quarter that restrictions are lifted.