Statement on Auditing Standards (SAS) No. 136 is quickly coming up on the employee benefit plan horizon. Plan sponsors should familiarize themselves with the changes so they can be fully compliant for periods after December 15, 2021.
On July 15, 2021, the IRS announced in an Exempt Organization update the electronic filing mandate for Form 990-EZ.
The unemployment rate for leisure and hospitality, 10.1 percent, is nearly twice the national average. However, there are Help Wanted signs everywhere and a bountiful number of job postings. How are private clubs responding to this challenge?
Not-for-profit organizations may be tempted to give gift cards to employees, volunteers, or those in need, but they need to be mindful of IRS de minimis fringe benefits rules, among other gift card considerations.
Some employers can give paid leave to employees impacted by COVID in 2021 and claim a payroll tax credit per the American Rescue Plan Act.
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.
With preserving liquidity and slowing cash burn top of mind for hotel owners and operators, the nominal investment in technology and reimagining of staffing has been an initiative for hotels in survival mode. Hotel operators need to make strategic decisions in these areas.
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.
Certain types of residential rental property placed in service prior to 2018 can claim a shorter depreciation recovery period, potentially generating significant tax benefits. Affected taxpayers have until April 15, 2022 to file an amended return.
While many clubs have gifting programs that are not tax advantaged, this article focuses on some typical club foundations that provide an incentive to their members to get involved in various initiatives that qualify for favorable tax treatment by the IRS.